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OP Video Podcast – Takeover!
Yesterday saw huge news as Birmingham International Holdings announced a roadmap for changes to its shareholding structure which would see the end of Carson Yeung as major shareholder and the installation of Paul Suen Cho Hung and Trillion Trophy Asia as the new owners of the club.
I’ve put together some thoughts on video which I’ve shared below. The key thing I want to emphasise is as complicated as all this is, this is the reason Ernst and Young have been taking so long to sort this all out.
Tags: Carson Yeung, Ernst and Young, Paul Suen Cho Hung, The Takeover, Trillion Trophy Asia
40 Responses to “OP Video Podcast – Takeover!”
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Positive – yes.
But this is Birmingham City and there must be something that can de-rail this, some appeal, some legal objection, something that someone hasn’t thought of?
I expect the Settlement Agreements are watertight so not relating to those. Maybe the other shareholders can defeat the EGM resolutions?
Hi Dan, thanks for the update,
My only concern with this is, how do we know Paul Suen Cho Hung has no connections to Carson and the obvious criminals Carson was connected to?
We know nothing about this guy, same as we knew nothing about Carson.
Simple really – Ernst and Young have to be v careful about who they deal with as they have their own reputation on the line. They’ll have had to do extensive KYC checks from what I know.
For the club to actually issue a statement on the website, all of the information from the Hong Kong stock exchange it is hard not to be positive. But i can’t feeling like Singapore Brum. No hold ups or catches we’ve suffered this for far too long. KRO.
E&Y and Mr Suen have got this all tied up believe me. C’mon chaps embrace it. It’s happening, enjoy the moment.
Why don’t people actually credit the club and Panos for all the graft they have put in to rid us of Yeung and Pannu and enable Blues to finally move on. This whole process has not been easy at all but they have ‘played a blinder’ as Dan says and gone about it skillfully and professionally. I would much rather have Panos, TTA and Blues on a sound footing ready to grow than what we were or what Villa are about to become under their Carson Yeung
I remember an interview Panos did last season & he was saying that during the games he was either on the phone or internet to the guys at TTA keeping them up to date with the match. He mentioned that these guys were footie fans so maybe they’ve given themselves a minimum of 2 years to see how things go & just erring on the side of caution.
Excellent pod cast Dan, What I am most pleased with is the fact we have good business people and a majority s/holder for me that makes him 100% responsible so will want the very best he can achieve for his asset just like sully he has to care and move it forward, for people like him its the drive and desire to achieve better and that is something imo that bcfc has never had and sully came closes,t but we all know his real desire was in the capital and we can see from what he is achieving at w/ham could have been us if his desire was to do it with us. I would love the fans to get right behind our new owner and fill stans because if someone like him is encouraged and can feel the love so to speak we can make some big big strides in this next two year period and a good s/ticket sale could encourage funds to be made available even sooner.
It will be interesting to see how Paul Suen and Co can run a football club without COMING OUT , for every football photographer will think a photo will be a quest , Paul at the EGM will be the director that turns up in an old FIESTA , joking apart he deserves our respect for putting money into the club .KRO
I can’t believe this is the end of it, TTA will be looking for a return on their investment and will seek to off load the club once they can more than recover the value they have paid so suspect they will sell on within a couple of years. My hope is that they are taking the punt because they believe that can sell the club as a Premier league entity and so prepared to spend to rake in the rewards. That said this is all very positive and gives us the ray of sunshine we have been seeking
So you think they WILL sell within 2 years despite specifically saying they have no plans to do so?
Yes I do, they re not a management company but an investment company. They buy and sell. I don’t think this is a bad thing, they can see then potential at Blues and will wan to cash in on it so hopefully we will see investment over and above the £10m reported
All sounds good to me. Things are on the up Thank you to all at TTA thanks to Panos And Thanks Dan for all your work keeping us up to date.
Has there been any agreement that to prevent CY (directly or via proxy) from ‘investing’ in BCFC in two years time?
I would imagine that CY will never be allowed to invest or have any involvement in any football club again. Even if there is no low against him doing so no one would touch him with a barge pole I would hope not anyway.
The fact he can’t pass the OADT?
Dan, think its time to get ‘the book’ translated in to Chinese, ready for the amassing Chinese fan’s who will be converted from red to Blue. It will be interesting to see if TTA have any new sponsors in mind?
The future is optomistic.
Cheers Dan.
As you say, nothing actually “new” but some comforting confirmations and solid dates.
It’s strange, but to actually HEAR somebody (you) actually verbally eludicate this whole “saga” does seem (at least for me) to make it real.
The only way forward for us was always going to be “slowly, slowly etc. as it is unlikely we would ever interest any mega rich owner aka Man Citee.
For the first time in 12 months+, I’m actually starting to see some light at the end of this very long tunnel!
Keep up the good work — KRO!
As I’ve said before Ernst and young were court appointed so were never going to do anything or be associated with anyone who were not upfront I for one welcome all the news of tta taking over and look forward to new beginnings for the club kro
Good review of the situation thanks Dan.
One thing I think is a mistake has been the announcement BCFC will have up to £10 million to spend on bringing in/attracting higher quality players / wages fees etc. This immediately inflates players wages and clubs fee demands. I should imagine it’s done this way to install confidence in other potential investors and the Hong Kong stock exchange and equally boost supporters morale and hopefully season ticket sales, but sometimes in business you need to keep these things quiet to get best value.
It’s like me announcing I have £1 million to build a new house you can imagine me getting a quote from a builder for 1 million or more.
On the whole though despite the complex statement I belive it’s positive news and finally a step forward, kro,
I think they have to say what they’re going to spend the money on – I think if they didn’t have to they wouldn’t have said anything.
spot on, and they defiantly wouldn’t` have.
Glad that everything is looking positive and we can see the finish line at last.Suen obviously isn’t stupid and will know that 10 million isn’t anywhere near a promotion war chest but puts us in a position whereby we can pay better wages for loan players like Toral or Bamford.If he has serious intentions of getting into the premier league he’s only going to do it with another 10-15 million along with about 7 or 8 other clubs in the championship.
That’s next season ..that’s why they said 2 years !.. Get into the premiership and they will double there money at least .. Makes absolute sence to me .. ! KRO
Hopefully that’s the case.Cannot decide weather Suen is not selling the club for 2 years because he has to or he wants to but hey,not complaining,it’s been a good couple of days for the club.
Lads we will never know the real amount they have to spend, like as pointed out above they are obliged to give a figure and will be expected to stick to that figure or more its part of the listing rules, if you remember Carson had to say what funds he had available and I think he said 10 million at the time but I think he could not show proof and was dismissed. Its not just a proper persons test its a Fit and proper, the fit meaning you have the dosh. lol
I really don`t think we should pay to much attention to these figures they may go down as well as up. Its just a case of them wanting to invest big time if they don`t plan to we will soon know. but I agree that we will be able to pay better wages at least for (as pointed out above) the likes of Jon Torel if Arsenal will let him come for another year, I would do that and frig Fabrini off. just my opinion and if he stays I hope he proves me wrong.
Yes I think your right makes sense
No mate it was £4O million . KRO .. And then another £40 million
Dave we have cross lines mate I should have explained better. I was referring to the 10 million he said he had after he came out of clink on bail when he tried to get E&Y thrown out in court.
Mark my words Fab will have his day.
I really do hope your right Hillfield.
£10 million just the start. If we are in the mix at the start of the new year we will be backed in the transfer window no danger, which for me is a lot more encouraging, that is when you can tell the true intention of an owner(s). And I feel that these owners only have one criteria, promotion then sell the club. Which is not as mercenary as it sounds.
KRO.
I agree with your first points KM, but I doubt they would sell with a 120 million quid pay day, that’s when they get hooked mate. its like gambling why not stay and throw the dice again. lol
Thanks for the Podcast,Dan,things are finally moving along,that dim light at the end of the tunnel has become a very bright light indeed, I’m also watching the Nathan Redmond transfer situation with interest,Blues stand to receive up 1.5 million of any transfer fee (should he be sold for 10 million) that would come in very handy indeed
That’s why I said who knows how much we will be able to spend, If we do get another 1.5 for Redmond I think the our frigging sun has aligned with venus or something like that. haha
Is this a concern? Page 5 of the announcement.
If the Whitewash Waiver is NOT granted, the Subscription Agreements will lapse and consequentially the Open Offer,the CY Settlement Agreement, the Debt Undertaking, the UC Settlement Agreement will LAPSE and the Capital Reorganisation and the Resumption WILL NOT PROCEED
all im gonna say is we got new owners lets go for promotion where this team belongs i have to say 10mill is good tho start of the beginning of like last August im sure Birmingham can do it where they put the run together
[…] found it very reassuring to hear Daniel Ivery, in his podcast on Often Partisan, describe the men behind TTA as business men who make their living buying […]
Well done, again, Daniel.
Excellent work.
Thanks
Gramsci