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New Investor Update
Less than an hour ago, this story appeared in the Hong Kong Daily News (the newspaper which I originally got the story of possible investment in Sing Pao/BIH).
Translated, the story rehashes a lot of what we already know; ie that Pannu has said about selling players, we have no shirt sponsor, etc – but what it also says in the first paragraph is that Carson Yeung was seen at the Sing Pao offices in deep discussion with a couple of investors.
I cannot stress enough that this is no indication of a white knight coming to save Birmingham City; however there is an outside chance that these could be the investors spoken of in the previous article and that Peter Pannu mentioned in his press interview of a couple of days ago. I have no idea who they are, but as always I am endeavouring to find out more.
After some of the comments from the last piece I think should re-emphasise – I’m not saying investment into Blues is likely, or imminent – but there is a possibility that it could materialise, and it would be remiss of me not to mention this when all around is doom and gloom.
Edit: 19:20 29/07/11
I’m hearing rumours from other sources that confirm that Carson was meeting with a couple of big shot investors. There is definitely a feeling that it could be investment into BIH.
Tags: Carson Yeung, China, Investment
30 Responses to “New Investor Update”
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Sing Pao as in the Sing Pao newspaper of Hong Kong?
If so, they’re not really big time investors. They sell around 100,000 papers a day with a reader base of around 220,000. That’s tiny. They have moved into advertising but have been the subject of a court case, in which they were fined 4200HK$ for failing to pay staff wages.
Alternatively, you mean the Sing Pao Centre, which is a skyscraper in HK home to many big businesses.
Now THAT would be more promising, though the Sing Pao paper would fit well with our financial plight ;)
Kaje, Carson owns Sing Pao. He’s been looking for investment into that newspaper as well as BIH
Nice One Almajir
Well sought out almajir.
Keep trawling the Hong Kong press :)
KRO
Of course we all want new investors pumping money into the club as soon as possible, but can we really trust the “investors” that Carson Yeung would be dealing with. The sooner we cut all ties with this current set of owners and their “investors” the better.
If they are planning on investing soon, then why are we still letting people go on the cheap?
op cant lose then. Saying its not necessarily imminent, likely but possible covers all bases. Grow some and tell us what u think is going to happen cos you`re hardly sticking your neck out are you?
I can’t, crystal ball is out for repair at the moment.
Thank you for you contribution to this subject Lily.
i read with delight the research you have performed and your ability to find information and disperse it to other fans in a way which combines fact with some opinion.
Lily without you we would be none the wiser about the situation and ongoings in Hong Kong…
You are obviously from the bottom rung of civilsation. Loser.
Keep up the work Almajir.
So what you’re saying is, WE’RE SAVED.
Nah.
Just that there may be a glimmer of hope.
Ideal shirt sponsor for this season SOTV Ltd, 10 Myers Lane, London. SE14 5RY
It would generate record shirt sales I think.
I know, only messing. It’s all we can cling to right now.
I liked the bit in the Guardian about ‘….we may have to sell some of our stars…’ ummmm how many do we have left to sell? More importantly, what sort of experience will CH have to build around?
I no longer believe that CY/PP have any strategy other than asset stripping the club. The level of sales and the low returns are clear indicators of desperation. Additional speculation will not help, neither will the vague hope that some sort of cavalry will ride over the hill. What is needed now is a clear strategy if the previously unthinkable occurs – and our part in it.
Ah! Thanks for that Almajir, that puts less of a positive spin on things as he could have been doing anything. Hell, those people could have been lawyers or debtors or even loan sharks come to reduce the efficiency of his patellae.
I think Peter Pan has been sent back with a clear plan:
1. Buy more time for CY to sell the club to potential investors by balancing the books, hence the sales to reduce the wage bill.
2. Take the flak and calm everyone down as much as possible (he’s big enough, and I think he has friends).
3. On the very qt, test the waters for possible purchasers at a not too humiliating price, just in case.
CY has shown in the past he will not easily be put off pursuing his aims so point 3 is only likely if he’s thrown in the hoosegow… even then…!
The club’s not bust, people are buying tickets in the hope of seeing some good and winning football, but the fans should also use the time being bought to create the Supporters Trust proposed by OP in order to be better able to deal with the current and future owners of the club who will always have a different agenda. KRO (and leave Lily alone, she’s in enough deep water).
Thanks again,almajir. Most of us wouldn’t be diligent enough to find anything like this from HK. Your work is very much appreciated & even if it might turn out to be nothing at all, at least we have something to consider.
why don’t he just do the right thing and sell up & F***k off, let someone who genuinely wants to run a club legitimately, with the ambition and the clubs best interests at heart. i feel we have an excellent manger in Houghton who will generate funds from the youth in the long run, his character as a manager seems to mirror our beloved bcfc,
New owners are just queuing up aren’t they…. I think he should sell to an arab billionaire that wants to turn us into the next Man City……………….
Thanks almajir if only to give me somethig to hang my hat on and stop me from digging a hole and burying myself. I actually think blues would be a decent proposition for a buyer wishing to buy a football club but I would be thinking “why not wait to see what happens, if yeung goes down and or if the club goes into administration I could pick it up for next to nothing” personally I think that this will be the most likely outcome, but hey who really knows what’s around the corner in this chinese circus?
I agree with Bluehag re the appreciation of the info Almajir is trying to unearth.
It is, of course, possible that there is a “wait and see” situation as far as future investment/ownership of BCFC goes. But surely it is now demonstrably clear that Carson Yeung and his associates do not have the necessary financial wherewithal to run a professional football club. Alan Sugar ain’t short of a bob or two but he resigned from the board at White Hart Lane because he said he simply didn’t have the financial power to compete with some of the billionaires coming into the game. The same thing happened at Reading with John Madejski.
All the indications are that Yeung is not even close to being in the same financial bracket as these men, let alone some of the game’s serious money men and the previous owners of Blues must surely have known that yet they were happy to recommend Yeung. The game is up for these owners and, one way or another, they need to go.
Sadly, the second bit of news doesn’t add much to the voracity of a new investor in BIHL/BCFC.
Firstly the article seems to come from a rumour type outlet, that just picks up on info from elsewhere, and this info may well have been picked up from the original article you found.
Secondly, references seem to made about investors interested in the Sing Pao newspaper, with BCFC appearing to be mentioned as an aside.
Great that you are finding these China based articles though, and keep up the good work. You might yet find the gem which answers our prayers and states that CY has gone forever!
KRO
I totally agree, it is rumour – but it’s rumour that’s being repeated and re-published. I’ve heard stuff on the grapevine too – nothing concrete at all, but possibilities.
[…] more palatable reading for a potential “white knight” investor. Of course, despite the rumours in HK the idea of an investor for Blues still seems a long way off, but it does kind of make […]
I’ve just had a trawl through a few of the archives on this site. One in particular which caught my eye was dated October 2010 to announce the appointment of a new board member at BCFC. The new member in question was Dr Bruno Wu Zheng. The article claimed Dr Wu was a “very wealthy man”. So much so, that the piece had him down as the 207th richest man in China and worth a reputed half a billion dollars. I’m guessing this means US dollars.
If the above is true, and I reckon the article has been published in good faith, what are people like Wu doing with all their money when Blues are in the financial state many believe them to be in now?
Why hasn’t Wu invested in the club? Blues fan and sports broadcaster Ian Danter has recently said he thinks Blues are being used as a “cash point club” and the above stuff only increases the fear that what Dants is saying may be true.
Any thoughts, anybody?
I too have wondered about Dr Wu. Blues staff I have spoken to have confirmed that they haven’t seen him near St Andrews, and not fully knowing what his remit was beyond “being a consultant to Carson”
Read into that what you will
Wu not being seen at St Andrew’s is one thing. But surely not intervening financially in the current period at Blues when he is quite happy to get his feet under the table in the boardroom only reinforces the view recently put forward on TalkSport Radio (?) by Ian Danter that Blues are being used as a cash point.
Fully agree with Jay Sidney,time for the board to go.All current talk about ‘investors’ is a smokescreen,a futile attempt to calm things down.The Yeung era is thankfully nearing its end and it will take time and money to recover from all that has happened.But the fans and the club will still be here long after these idiots have gone.And the sooner that is the better.
You say this, but the only way the board can go is IF there is an investor/buyer out there. Have you seen one on the horizon?