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Pannu Quits?
Social media is ablaze this afternoon after Bryan Swanson of Sky broke the news that Peter Pannu was due to resign from BCFC tomorrow, leaving at the end of the month.
As stories go, I think if true this could top any transfer story that might happen to Blues – and I think it would be fair to say that it would the free transfer of a high-profile high wage earner that the majority of fans would be happy to see. Of course, the key word in that sentence is IF. It seems (from this angle at least) that many fans believe he’s on his way – particularly as Radio WM are also reporting it – but I definitely would preach caution until it has been confirmed by an official source.
The facts are as follows:
If Pannu resigns as a director of Birmingham City FC or it’s UK parent Birmingham City PLC, then no announcement would have to be made by the HKSE. It would be difficult to corroborate without an official statement from the club until the relevant documents are filed with Companies House – and bearing in mind that it took almost a month for the documents associated with him taking the role as a director of the club to appear on the Companies House website that would take a while.
If Pannu resigns as a director of Birmingham International Holdings that announcement WOULD have to be made to the HKSE.
The only contract I know for sure is up is the consultancy agreement between BIH and Asia Rays Ltd which elapses at the end of this month. There is talk his management contract would be up at roughly the same time – October 16 marks the fifth anniversary of Carson taking over the club (and also the launch of my book – more on that very soon) – but that doesn’t mean he would have to resign. However, Pannu has talked about previously if his contracts are not renewed he wouldn’t hang around.
I’ve had no confirmation from sources here in the UK or in HK that corroborate Pannu leaving either the club or BIH; everyone seems adamant that they don’t know what is happening.
Furthermore, contrary to rumours on messageboards that the sale of the club will be finalised (or even an offer will be accepted), I have heard from a highly placed source in HK that the HKSE have not yet confirmed to BIH how they can sell the club so I’m almost certain that will not come to pass – however, for obvious reasons I can’t corroborate that although I will say that I do believe that we will not see the sale of the club for sometime.
So where does that leave us? Basically in the status quo – no change until we hear otherwise officially. It does pain me that it’s this way but I’m a firm believer that it’s wise to not crack open the champagne until we know for sure.
Tags: BIH, HKSE, Peter Pannu
27 Responses to “Pannu Quits?”
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Please let this be true. It would be almost as good as going unbeaten until Christmas! KRO
I have heard a rumour that he is not relinquishing his directorship of either BCFC or BIHL, though like you, I will only believe it when either announced by the club or HKSE.
Will any monies saved be used to finance a deal or will they look at putting a tender out for another management consultant?
KRO+DNM
There’s no way I think, Chris, that this gentleman will resign from these directorial posts.There’s money in it after all. I think he will see them through until the club changes hands.
That is my sentiments too, he won’t walk away from club as long as he can get more money out of us.
The hope we have is the other directors see him for what he is and vote him off.
KRO+DNM
Like all Bluenoses, I would be over the moon to see the back of him, !!.
I make no further comment, as I respect your vulnerability to any unseemly words.
All bluenoses? Have you asked them all?
No !!, Nick;, I have not done so, but what do YOU think about Peter Pannu, ??.
I doubt he’d walk away from such a cash cow
well put pp wages into prospective i heard that one possible Man utd transfer if it comes off the player will be on 350.000 per week….so lets not get too overheated about someone wages lol
sorry to say but all hate thing is just grown men been extremely childish, time to move on grow up lol
Mark, at last, something I agree with you over.
Chas you are too kind :)
I know Mark..It is my one big failing :-)
Let me play devils advocate.
1, It wasn’t Pannu’s fault that Yeung was indicted and convicted of money laundering.
2, It wasn’t Pannu’s fault that BIHL lost their HKSE listing.
3, It wasn’t Pannu’s fault that as a consequence of the above that the club had to sell to survive.
4, It could be argued that Pannu steered the club through this period successfully so that BCFC survived and that we have a club to support today!
It was his fault he accepted that ridiculous salary for doing virtually nothing
It could be argued that with Premier League footballers earning £100k plus per week, Pannu earning £12k per week for running a football club is not unreasonable.
Richard, are you PP in disguise? Is this PP posting on OP again?
Just giving an alternative view to the criticism that PP has endured these last 3 years. The real culprit is Carson Yueng, PP was left holding the baby and he had to do the best he could in the circumstances. He may not have done as well as you and others had hoped, but we still have our team to support.
He could have sold the club, I believe that was part of his agreement, instead he sold all our assets, I bet the ground would have gone if it hadn’t been for ACV the Blues Trust acquired.
I’m not sure as to where your loyalty lies from your last two comments, maybe you are PP, you seem to take a lot of time defending him and his best mate CY.
KRO+DNM
Chris W….My loyalty is not in doubt.
Not doubting your loyalty Richard, just wondering where it lies.
I, along with many others, have seen some really bad owners over the years, and they have been berated on here and other sites but I don’t think I have come across anyone defend them to the extent you go to with PP.
KRO+DNM
Could not agree more with your sentiments regarding pp Richard
Or even 350,000 per week some players that 12,000 looking even more modest lol Richard
It was Mr Pannu who negotiated some ridiculous contracts without relegation clauses and it was Mr Pannu who bled the club dry with his extortionate consultancy fees.
He was head of the board and CY’s right hand man, the voice of BCFC, the captain of the ship as such the main man, who the buck usually stops with.
Sorry Richard I do not believe he steered us anywhere without self gain, I cannot find anything that was good while he is/was part of BCFC or BIHL, he has still not verified whether he is relinquishing his directorship.
The sooner we can remove all of BIHL from BCFC the sooner we will begin to recover and I believe thrive again.
KRO+DNM
Chris W………I agree with your last paragraph. As I wrote I was playing devil’s advocate. Your word extortionate regarding his remuneration is open to question in modern day football.
Regarding negotiating “ridiculous contracts”. The only ridiculous one was Zigic’s contract and that with the view of hindsight. By that I mean that in 2010 when it was drawn up nobody could have suspected what was to occur the following June.
Ziggy’s was the only one we kept on, all the other high earners jumped ship as soon as we were relegated.
Maybe given the wages paid in football to players PP wages were quite modest, however, what did he actually do for them.
Players can bring success, I don’t believe they warrant such high incomes, but that is what sky have done to our once beautiful game.
KRO+DNM
I think Pannus attitude is the reason why he’s hated by fans. Carson did the damage but the fans don’t even know what his voice is like. PP is the face of BIHL and comes across as bullish, rude and arrogant. There’s a lot of angry fans out there and the anger will naturally be directed towards the front man. PPs salary is very high but its the I care not attitude that irks people.