Often Partisan

“Unbelievably Complicated”

It’s now one week since the self-imposed deadline of three weeks due diligence has elapsed, and Birmingham City seem no closer to having new investment. Although there can be announcements on the HKSE until 11pm HKT (4pm BST), it does seem unlikely that there will be any major announcement today as there has been no halt called on trading of shares.

Colin Tattum of the Birmingham Mail mentioned on Tuesday that Jeremy Wray and Peter Day of Soccer Management Worldwide having talks with Blues director Panos Pavlakis but as yet there has been no public announcements. Dan Pallett, who is sports presenter on Midlands today mentioned that the deal was “unbelievably complicated” on Twitter on Monday which tallies with news on this website about the HKSE having issues with the deal. Similarly, there has been no news official or unofficial on where that stands.

It’s kinda difficult to keep saying this but it does seem this takeover is very much in limbo despite people posting rumours of there being good news coming soon. I think that SMW have all the will in the world to want to complete the deal but are being hamstrung by the complexities surrounding the sale – due to the issues BIH have over cashflow and diversification.

I can’t help but wonder if it might be a better idea for someone to try to buy into BIH and conduct the takeover that way – but even that would be fraught with peril. If someone bought into the holding company then investment would be present immediately not only for BIH to diversify but to be able to put into the club. BCFC could then be sold as BIH sorted its own affairs out and everything would be hunky-dory; the issue however being is that would BIH allow an outsider to come in and sort things out in such a manner. Furthermore, with Carson Yeung having such a massive potential stake in BIH due to the novation of his loan in February then any stake in BIH could be immediately diluted by Carson converting more shares; whether he can do that from his prison cell I have no idea.

Carson has briefly been back in the news in Hong Kong as his house on Barker Road has now been tendered for auction by Wing Hang Bank, who repossessed it late last year. From reading the Cantonese press there have been four bids, and rumour has it that one bid is from Joseph Lau, a billionaire real-estate investor in Hong Kong who was convicted in absentia in Macau for money laundering. As there is no extradition treaty between Macau and Hong Kong Lau is still at liberty in the former British colony and I think there is a certain irony that one house taken from a money launderer could be sold to another one.

In other news, commenters on this site may be pleased to know that one of their number features in my upcoming book which will be out soon – the full story is on the book website here.

Talking Points sponsored by John Hicken Industrial roofing and cladding materials

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87 Responses to ““Unbelievably Complicated””

  • J Bidmead says:

    I am thinking very hard about whether or not renew my season ticket this year. At the moment any money put into the club could end up in Carson’s back pocket.

  • Chris W says:

    We know BIHL need to sell, but do they want really want to?
    A lot of money has headed to Hong Kong since that great day at Wembley, but how the club has crumbled before our eyes.
    What are they hiding and is Carson Yeung still pulling the strings from his cell?
    These are certainly worrying questions that someone needs to probe, which could be why HKSE are looking into audits and reasons for the delays. BIHL have obviously found some money from somewhere to allow LC to a loan fee and are still responsible for the day to day running costs along with wages of the current squad which includes Ziggy’s until 30th of June, coupled with it would appear that Administration is no sitting on the horizon anytime soon..
    If rumours are to be believed then Season Ticket sales are not going a quickly as the board hoped, though it is said that figures are up on this time last season.
    Unless the new sponsors have put in a substantial lump sum I can’t see where BIHL are getting their financial income from.
    KRO+DNM

    • OftenPartisan says:

      Has a lot of money headed to HK? You have proof of that? Maybe you could give a figure?

      If you can’t… you might want to be careful of what you are saying…

  • the badger says:

    I thought this Bosman bloke was taking over. We seem to have a lot of his players already. I heard that he wants to change our name to the Birmingham Bosmans. So I’m ready for the new season with optimism, “come on you Bozzies!”

    • Chris W says:

      The Bosman ruling is a good thing as it allows players from all levels across the EU to be signed without a transfer fee. The fact that we signed players from the lower divisions is purely wages.
      KRO+DNM

  • Matt says:

    Pannu posting on here anonymously haha, what’s his username? is it mark?

    • OftenPartisan says:

      you’ll have to read the book to find out ;)

    • Agent McLeish says:

      Ha ha, I was always suspicious that Mark was either a BIHL employee or a Villa fan fifth columnist.

      • Mark Gibbs says:

        Not referring to me I hope, I have been a season ticket holder is Tilton since before these clowns owned the club, along with my son and have already gone back on my word to not renew while they are still in charge and renewed anyway :-(

      • Blooflame says:

        Someone has to report back to the wrong doers…see how politically correct that was!!

    • mark says:

      Before we go any further you won’t know what my fee is…….

  • Andy says:

    Looking forward to the book. Do you have a release date?

    • OftenPartisan says:

      It’s at the printers. It’s being published in China so it will be released there first at the end of July. Obviously it will take a little while to seafreight the books here but I’m working on airfreighting some to get them here ASAP and thus I’m taking pre-orders on the book website.

      • Andy says:

        Sweet, will pre-order on payday.

      • fingles says:

        What a shame you couldn’t have had it printed and published in the UK.

      • mark says:

        Sensible Daniel why pay though the nose!

      • AussieBlue says:

        Mate, should have used Lightning Source. They print digitally on 4 continents and will ship to end users so you don’t have to worry about re-sending from a bulk shipment. Being digitally printed, there are no plates and you can print only as many as you need, batch by batch. I assume us folks who pre-bought from Kickstarter will get their in the post? Looking forward to it. My money is on PP’s handle for ‘anonymous’ posting was ‘Carson Y’

  • bluearmyfaction says:

    How come PRC has not put something in place to get Hong Kongers extradited to Macao? Bizarre.

  • Staffs Blue says:

    It’s basically ‘as you were’ concerning investment/takeover. We can speculate and surmise all we like, but the truth is, we don’t know anything and that will continue until someone on either side actually breaks the silence. Until then, I’d rather concentrate on the new season.

    • Chris W says:

      True Staffs, we have no control regards any takeover but we can support the team. With Donaldson coming next week and the players joining up I think the week after it looks as if we will have a decent starting XI to gel together. Things are looking considerable brighter than at the end of the season.
      KRO+DNM

  • Robert Hughes says:

    Can’t wait for the kindle edition. It seems to me that BIH probably want their cake and eat it. They may well have totally unrealistic expectations of what they can achieve vis a vis the HKSE requirements.

  • Mineheadblue says:

    If nothing positive materialises before the season starts, does BIHL have enough cashflow to operate the club on an ongoing basis? I’m assuming that the wage structure and other restrictions mean that we will continue to limp on….but for how long? Are we moving back into a situation where Administration again becomes a possibility or even desirable??

  • ian says:

    i still say starve BIHL into administration,
    its like catching an eel wearing soapy gloves
    ps, i am not peter pannu

  • Richard Granfield says:

    The Club seems to be going sweetly on its way with numerous new players and a new coach. Do you think that BIHL is having second thoughts on selling?
    PS. I am not Peter Pannu.

  • Brightside says:

    I have long held the view that the takeover cannot happen as BIHL desire as the HKSE will simply not allow it. There is a major problem of BIHL having to give control of BCFC to the purchaser and therefore BIHL will not have any control of their asset (BCFC) – the only asset they have of any value. As we have heard from OP and others the HKSE will not allow BIHL to sell their only major asset as they will loose their listing, something that appears to be absolutely non negotiable to BIHL as they will find it hard to set up a new listed company. So how can you write a contract that will give control to the purchaser at the same time as keeping control for the seller (even if it is only 24%) to satisfy the HKSE that BIHL is nothing more than a shell.
    Therefore in order to buy time to find another solution BIHL will need to sell whatever else they can in BCFC to stave off administration. Interesting rumour on the Birmingham Mail that we are looking at Man Utd’s under 21 keeper on loan. Goodbye Randolph?
    Not a problem in my view as I dont rate him……

    • OftenPartisan says:

      We have five professional keepers on our books so I can’t see it being true.

    • fingles says:

      Don’t rate Randolf? He basically kept us in the Championship.Yes, he made the odd gaff, but which player doesn’t?

    • Chris W says:

      I think Randolph made some very basic mistakes last season that cost us some games, but he also pulled of some world class saves and had a few man-of-the-match awards that won us some too. I think the most standout error nearly cost us at Bolton when he was beaten on his near post. It was his first season south of the border and a learning curve.
      I have a query regarding this 24% that someone may have already answered and I missed it.
      If someone offers to purchase over 30% they have to buy the whole club.
      If BIHL can only sell 24% followed by another 24% would give the buyer more than the 30% threshold therefore they would have to buy the whole of the club.
      However, my question: is the 24% part of the 96% held by BIHL shareholders or is it 24% of the 30%?
      Or am I barking up the wrong tree?
      KRO+DNM

      • Staffs Blue says:

        Re: Randolph. He had a great first half of the season, but once the height of Bartley and Burn was taken away, his limitations were exposed. I lost count of the times he was beaten over his head and he’s suspect with long range shots. Let’s hope he works on these things this summer.

        • Chris W says:

          Not very good at punching and he left himself exposed with his walls too. I have seen a lot worse over the years, some have gone on to do well for us, Jim Herriot wasn’t that brilliant when he first came down from Scotland, went on to be No1 for 4 years and play for Scotland.
          KRO+DNM

          • Staffs Blue says:

            I liked Herriott. But to be fair, we’ve had some cracking keepers down StAns over the years. Not too many bad ones.

          • Chris W says:

            Totally agree Staffs, only quoted Jim as he made the same transition from Scottish football. He was an excellent servant for 4 years and earned his Scottish caps playing for us.
            KRO+DNM

  • Pete says:

    Thanks Dan. On footballing matters. I am not sure how productive it is in having another ‘old boy’ with a heavy drinking approach join the club with Clark. http://www.dailyrecord.co.uk/sport/football/football-news/celtic-coach-alan-thompson-was-sacked-1128448

    • Tony says:

      I think we should all feature in the book

    • Tony says:

      Pete sshhhhh

    • mark says:

      If he proves our U21 tenth fold I will be happy…..I am sure you done some regetable things in ones life? Yes everyone deserve a second chance…

      • Pete says:

        I have never been done for drinking and driving and then got done for it again and been in a position to be a good influence on kids, with a track record of going drinking with the players…..

        • mark says:

          he might have been addressed at aa and possibly be now tea-total? CRB checks are a wonderful thing, there are lots of kids who equally go through many pitfalls maybe he can assist in their learning curve …as mentioned to you 2 days ago if brings the U21 tenth fold i will be happy…glad to here pete pays to get a taxi…..kro

          • Tony says:

            Actually my comments were a little light hearted banter, I am all for giving people a second chance, I was in support of the club signing Pennant, Bowyer, and King when many were against it.

          • mark says:

            we can agree just on this one hey Tony! dont tell anyone all did reasonably well with their stay with us, and maybe fulfilled some of their potential dont you think!

  • Tony says:

    Have we not had enough training ground problems, without Clark appointing a man sacked by Celtic for ahhhmmm lifestyle issues.

    • Staffs Blue says:

      A bit harsh. He’s not the first ex-player to go off the rails for a while and he certainly won’t be the last. Everyone deserves a second chance. I’m sure he’s been given chapter and verse on the QT.

      • mark says:

        Someone as negative as Tony does not give second chances just moans for the sake of it lol

        • Staffs Blue says:

          I take notice of comments, both positive and negative… as long as they’re constructive.

          • Raymondo says:

            Who is this Tony? His comments seem to be so negative that I wonder why he bothers. This site is for Blues suporters.

          • Small Heath Blue says:

            Raymondo, he’s a well known racist and bigot, its ok, he always has this slur about Clark and drinking, but hasn’t got he balls to do it without hiding behind his keyboard!

          • Chris W says:

            No one ever complained about SAF’s drinking.
            Being BCFC’s manager must be enough to drive anyone to drink.
            KRO+DNM

          • Tony says:

            Small heath your slurs are meaningless to me, can just picture you with your union rule book in one hand, your copy of political correct etiquette in the other. As I believe I have stated before being Attacked by you is like being savaged by a dead sheep it tickles a bit but that’s all.

          • Tony says:

            Do you reside in the area that sports your name Small heath ?if so that would explain a lot.

          • Tony says:

            If you read my comments they are not about Clark maybe you should pay more attention.

          • Tony says:

            Raymondo one does not have to be a happy clapper to be a blues supporter , there are those off us who believe we could and should be doing much better. Do you really expect me and others to sit back and watch my club being being ruined by those who have not got a clue

          • mark says:

            likewise lol

          • OftenPartisan says:

            Raymondo

            Actually, this site is mine and if anyone is going to say who should and should not post on it, it’s me. Kindly remember that.

        • Tony says:

          Mark this is his third or is it fourth mate he has hired

        • Tony says:

          this will be his 11 chance mark

        • Tony says:

          Think how much you could make taking brown ale bottles back to the outdoor Mark lol

          • Staffs Blue says:

            Tony, I’m sure you’re an intelligent man… do you really need to resort to constant petty slurs on a man who you don’t know personally, without a shred of proof to back them up? Can you really not find something constructive to say about anything? Really?

          • Small Heath Blue says:

            What do you expect from a bigot Staffs, not like this idiot hasn’t got form.

          • Tony says:

            Staffs was only quoting the Scots press Thompson’s indiscretions are recent, as for positive comments yes I have one . In view of the circumstances I have no complaint about the players Clark is bringing in.

          • Staffs Blue says:

            There ya go… wasn’t too hard was it? :)

      • Mr Crosby says:

        He was given a 2nd chance at Celtic?

        • Staffs Blue says:

          But it was all part of the same period when he’d gone off the rails. It was a couple of years ago, so hopefully, he’s put all that behind him now. But, we’ll see in the fullness of time.

    • Small Heath Blue says:

      Usual bullcrap from the squeaky clean never made a mistake in his life bigot

  • Art says:

    Yet another classic Clark decision.

    Rag tag and bobtail approach to management.

    • Small Heath Blue says:

      Explain, or are you just jumping on the bigots bandwagon? I assume you are the ultimate man manager, as you are so quick to attack Clark.

  • Raymondo says:

    Was my last comment eliminated for some reason? If so I apologise if it was conroversial.

  • AussieBlue says:

    No surprises that the deal has been described as ‘incredibly complicated’. I’ve voiced my view here before that it’s an imbroglio – a riddle inside a mystery wrapped in an enigma. I can’t see anyone in their tight mind buying a minority stake in BCFC and tolerating BIHL as the senior partner – promise of more equity or not.
    Dan’s comment about it may be better if someone buys BIHL is worth consideration – but they would pay through the nose for BCFC if they did. However, the listing is worth money and could be sold as a ‘back door listing’ to another party.

    There is another possible scenario – that BIHL itself goes into administration and the administrator then sells off assets – mainly BCFC. This would be a much cleaner deal. How the FL would view this I don’t know; technically it would not be BCFC in admin, but the offshore ‘parent company’ would be. Of course this could only happen if BIHL runs out of money and can’t pay its creditors; it seems to be jogging along at the moment but time is running out to raise capital.

    • Raymondo says:

      That’s the odd thing though, Aussie Blue, They haven’t run out of money and have the wherewithal to pay the wages of (maybe) 10 new players.

      • AussieBlue says:

        It is odd Raymondo; but they have said in their last financials that they will be OK until end of 2014 (calendar). They got money in the the share issue in Feb and have cut costs enormously; Pannu’s squillions end in Sept so that’s another bonus. BTW, I am Peter Pannu and have moved to Australia to become a crocodile wrangler and sell the hides for ladies’ handbags.

        • Raymondo says:

          Thanks Aussie Blue, Could I order o ne of your crocodile handbags for my missus with perhaps a small discount for being a Blues supporter!

          • mark says:

            funny that raymondo surprised Daniel not offered us discount on his eagerly waited book to us blues fans?

          • AussieBlue says:

            Done Raymondo…one KROkodile handbag reserved for Mrs R!

          • Raymondo says:

            She’s looking forward to it Aussie Blue ! By the way, according to our ever popular associate “Tony” I’m a “happy clapper”. Not sure what that is but I bet it’s better than being a perpetual moaner!

          • AussieBlue says:

            I think Happy Clapper is reference to those people who attend revivalist church meetings and are perpetually smiling and clapping along. Tony’s problem is; when he goes to clap, one hand misses the other!

  • williammorgan says:

    Probably just a smokescreen with the occasional smog where it is most likely to have investigation

  • Blooflame says:

    It’s getting like Sparticus…”I am Pannu the Evil”


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