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BIH: Still No Further News
Birmingham International Holdings announced to the HKSE this morning that negotiations were still ongoing with Trillion Trophy Asia with respect to a prospective takeover.
The announcement is here if you want to read it – however it is no different from announcements in previous months.
What is of more interest to me at the moment is the prolonged suspension status report which can be found here. This too is updated once a month and should give an indication as to what the hold-up with negotiations is; ie that the HKSE still aren’t happy that all information surrounding the company that is outstanding has been given.
Chief among that is the investigation into misappropriated funds. There has been no further announcement with respect to any investigation that has satisfied the HKSE that this has been dealt with and there has been no news on any police investigation since this time last year.
Unfortunately emails to the auditors asking them for any kind of timeframe have gone unanswered.
The one positive is that with the purchase of Diego Fabbrini for £1.5million there is tangible proof that money is being spent by Birmingham City FC on the team – while the takeover is still in limbo it appears that the team isn’t.
Tags: BIH, Ernst and Young, HKSE
43 Responses to “BIH: Still No Further News”
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Exiting on the pitch , but boring off it ! But then again we have spent some money this month on players so let’s be thankful for that . KRO
Hey Dave, just seen Rotherham away is sold out, away tickets becoming as rare as rocking horse shit!!!
I wonder if there’s anything in the guiness book of records relating to the longest conversation in history?!, I mean they’ve been talking for quite a few months now, I just hope they’re all eating & sleeping properly!!!
if b,ham were to be promoted who would the so-called millions go to????
Good question
Same place it always does, player wages.
Oh… that wasn’t the answer you were looking for, was it?
nonono sorry almajir but as much as you may be accurate in saying players wages are a big drain on finances from clubs there is still more than enough left over from that huge windfall that premier clubs receive just from participation. even if you had 20 odd players on 50 k a week contracts (which in todays averages is on the lower end a prem player earns) you would still be left with well over half the profits and i doubt you would have the entire squad on that kind of money. I think its right to be skeptical about the big cash pot that would be floating around should bcfc gain promotion. The sooner we get answers and a clearer view on the actual structure on bcfc then people wont have these doubts after all it has been nearly 5 years of just smoke and mirrors!
i doubt it would be half, your figures equal £50 million that’s only £10 million to spare from the tv money plus any other money Blues could get from tickets and commercial so let’s say another £15 million so out of that £25 million you have transfer fees and signing on fees plus the reserves wages , manager and coaches wages, ground maintenance and loan repayments to TTA.
So imo there would be no spare money.
oh and E&Y will need paying too
I see you don’t know what the amount a club gets now days for premier status is….
Seems to me that the HKSE , the courts the police , all need a fit and proper test with the time it is taking to do their Jobs …..KRO
Must admit I hoped E and Y had a plan B for when, as expected, CY blocked their plans at the meeting in December. Had this been the case surely something would have been announced by now. My worry is that this drags on until CY gets his conviction reversed, if that happens I doubt their is anything that can be done to stop him regaining control. Can you imagine it, PP1 returns, as does CY’s son and the board consists of his driver and a legal advisor who is banned.
Is Carson still the thorne that has to be removed before any take over!
I’m going with the no news is good news idea for now as I’m extremely happy with all at present
“Unfortunately emails to the auditors asking them for any kind of timeframe have gone unanswered.”
In other words, ignored. Like no one in E&Y could spare a few minutes out of their precious time to answer an email. Rank bad manners in my book.
It always did amuse me when people got excited that E&Y were handling everything. I mean, come on, the personalities of the staff are more than likely going to match the location of the ‘branch’ of the business rather than people’s overall opinion of the business. There hasn’t been anything connected with Hong Kong that has really gone in Blues favour at all. The way everything has been handled, from the company itself to the administrators, to the Stock Market & any other authorities figures out there is simply a joke which demonstrates to ANY international business in any industry never to get involved with anyone in that market!!
You get to a stage, when enough is enough. How long can this farce go on for.
We as supporters are very thankful that we have Panos Pavlakis supporting one of the best managers we have ever had, this showing in both the transfer market and on the filed results.
Bristol City 1 – 2 BCFC
KR0
With Thomas now back out on loan- am I right in assuming the following have left the club in view of contracts expiring in May/June. Perhaps Daniel will correct me if I am wrong here. Novak,Duffy,Edgar,Thomas. I think Shinnie has another year. With Buckley and Vaughan maybe coming in for keeps then I would say our club is on a good footing wage wise. Only questionable ones for the future will be Eardley/Jones and Brown.
I wouldn’t swear to it, but yes, I think these are the players out of contract this summer: Robinson, Eardley, Edgar, Hancox, Duffy, Brown, Thomas, Novak.
Shinnie signed a new three year contract.
They might be out of contract in May / June but the club usually has to keep paying them for another month after their contracts run out.
The money that’s been spent is less than 50% of what we received for Gray, who once again, was sold for a pittance. Would it have been spent if Gray was still our player? I doubt it
I note that Gary has stated today that no more fringe players are going to be allowed to leave on loan. It’s quite obvious that Gary doesn’t rate Mitch Hancock’s and he isn’t going to get a look in with the first team squad, so why should the poor kid be left seating kicking his heels then find himself out of the door in June.
With regards to the situation in HK it’s about time we had a statement from the Club giving the fans a full update on the situation, not just these comments to the HKSE
Firstly – do you think Will Buckley is playing for nowt? Do you think his loan cost nowt? Ditto Ryan Shotton… Where does that money come from?
Secondly – unfortunately, BIH have no obligation to update us on anything. They have a legal obligation to update their shareholders first on anything, so unfortunately mate you can what you want from the club, it’s not going to happen.
Well Jonno, Gary Rowett has never publicly come out & said he never rates ANY player. The problem is when you play a certain way & set your stall out a certain way then players have to be able to slot in to that system or else they are surplus to requirements. That doesn’t mean they are not rated!
With regard to what we got for Gray, I thought it was a fair amount & nothing more or nothing less than we deserved! Whatever we got out of Gray this season we have already got out of Buckley in one single game! I’m more than happy!
Regarding Hong Kong, unfortunately nothing can be disclosed to fans without first being disclosed to the Stock Market. It’s against the law in ANY country. No different here in the UK.
i ‘m sure Fabbrini is on higher wages than Gray was so that’s extra cost plus as Almajir says there’s loan wages and sometimes loan fees, so at a guess i’d say by the end of the season we will have spent approx £2.3 mill including Fabbrini’s transfer of the Gray money plus there is money available for loans once the loan window opens in February till the end of March if needed.
Also, i would rather we didn’t spend any of the TTA loan monies as that debt will be secured against St Andrews.
Is it possible E and Y are not advertising their next moves because they don’t want to warn Yeung and co of their plans. If they were completely transparent it would make it easier to block those plans. Are they just trying to keep the opposition guessing?
I’m guessing the ball is in TTA’s court not E&Y given they were given exclusivity. It’s illegal for them to NOT be transparent when you’re on the Stock Market, even if trading is suspended! Basically, if nothing is happening then NOTHING really is happening!!
That’s not how it works. They have legal obligations…
Those legal obligations are to the market so they are required to be transparent!
Our onfield success has pushed all that crap into the background and that’s the way it should be.I’m not saying it’s unimportant because it is but I am a football fan and follow the Blues for the football,not this never ending soap opera in Hong Kong.Just pleased we can look foreward to the football these days instead of waiting for anything positive in HK.
Me too! After all most of what we read on here about HK is simply shite & very tiresome!! Great to be reading more about the team lately!!!
On a lighter side I think Gary has done another good bit of business with shotton for a centrehalf is a nifty passer getting the ball out of defence , he’s OK …KRO
Everything about Birmingham International Holdings, Trillion Trophy Asia and E and Y is just boring and a joke. Think we are just been spun around in circles with the outcome ending up the same.
It is just one twisted web with the same spiders inside
Nothing will change
That’s how I feel
Really happy with the January transfer window
For the first time in ages I actually have expectations about BLUES games now… and I am loving it
COME ON BLUES
In ROWETT we trust
KRO
ditto
Yep Im sick of the HK situation too.Nothing of any interest is going to happen until Carsens final appeal.Then Im afraid all hell is going to go off.But until then lets enjoy the football and get behind the lads.Im worried about today-dont know why.Strange feeling in my stomach, could be the Murgh Makhni from last night but not sure.Just hope we dont try to be too clever today lets just do the job and trouser the points.KRO
Simplicity for fans do not sit well with any of the major players concerning our club. Daniel may say that they don’t need to make any statement which is true. However in an environment like football which is a great reality hobby for us as supporters- wouldn’t it be useful if a simple answer could be given out such as our club’s current standing e.g. stable? Fragile ? precarious ? etc. Like many I am sickened by the arrogance of it all and the assumption that we supporters wouldn’t understand the workings etc of such affairs. Keep us at arms length is sometimes a dangerous game -as eventually the tide turns. Keeping the continual ‘no news’ treats fans with contempt and belittles their standing.
Although it would be great to get all this sorted before the start of next season (especially if we were to get promoted), I fear it will be at least another year before new owners are installed due to all the complicated court cases expected this year. Let’s face it, the Chinese judicial system is slower than a snail in reverse. Anyway onwards & upwards 3 points today will do very nice. KRO
Yes it would , morning all , bacon sarnies ready , Ime ready and looking forward to our trip down to sunny Bristol today … The only thing I can guarantee is that if there’s a winner it will be BCFC and that’s the only prediction your get from me today … Massive opportunity to get right in the mix today , let’s not blow it PLEASE !! KRO
Are you on the coach from StAns Dave?
Yes mate with the wife and son . KRO
If and when we do get promotion and get a wad to bank, surely the exclusivity to TTA has to be addressed? As a company we wiĺl be worth 10 x what we are worth now and way more than has been loaned/invested. Otherwise good business if you can get it, loan a club a couple of mil, if they are promoted you bought a bargain if not recall your loan and interest. I think we are being taken for suckers. Luckily things on the pitch are exciting, though today has me worried.
Do we have the only fans in the world who go from supporting a club fighting relegation to a potential promotion fight yet still all that seems to matter is the amount being spent? Since Gary has come in we have seemed to be a blues that fight again and have the never say die attitude. We need to face facts that there is some money being spent be it loan fees or loan wages along signing fabbrini permanently, from what I read into it this is the healthiest the club has looked for a while and let’s face it if we was in the premier league spending millions and sitting as high as we are now nobody would care so let’s just focus on what we can control and support our club through good and bad. KRO
The money we are spending is the money from selling Gray. i don`t see any real evidence of fresh cash being provided.As for the takeover……? zzzzzzzzzzzzzzzzzzz