Often Partisan

Fine Words Butter No Parsnips

Peter Pannu reaffirmed his control over Birmingham International Holdings and by extension BCFC on Friday at the holding company AGM, comfortably being re-elected as executive director  amidst talk of potential shareholder revolt.

If ever there was any doubt, Pannu has shown the world that he is most definitely the boss at BIH. If I am honest I don’t think I ever thought he could be ousted but I have to admit my surprise at the manner of the way he crushed any unrest from shareholders in the company. Despite having seen black and white evidence that the second largest shareholder in the company Liu Xingcheng had followed up his words with action in voting against the incumbents it appears that the board of BIH managed to make those votes not count, ruling them out by stating in the announcement that shareholders weren’t allowed to turn up and simply vote “no” to all resolutions.

Furthermore, Pannu and the board have secured a mandate which allows them the right to repurchase shares from current shareholders and issue new shares without having to seek prior approval from an EGM or similar. The cynical amongst us might say that this basically allows the board to buy back any shares from any shareholder who decides they’re not happy with the way the company is being run, effectively silencing the smaller investors in the company. The board have also removed the last remaining vestige of the “old guard” in retiring Pauline Wong on a technicality, ensuring that the current board is made up of staunch allies who can be counted upon to back everything that Pannu and Carson wish to do.

I guess this is where my concern lies; whilst I can accept as fans we have no moral obligation on Pannu to run the club for our benefit it seems to me that Pannu isn’t running the holding company for the benefit of the shareholders too. Documentation uncovered in recent investigations points to a board running the company as a personal fief of Carson and Pannu and with no check or balance left on the board it will continue to do so for the forseeable future without anything that we can say or do about it.

I read with interest Pannu’s quotes in the South China Morning Post where he talks about having to let go some of the more expensive players and bringing in players who are younger and are on much less money – apparently seven of them will be joining in a week. From the outside this makes fine business sense – with this year’s parachute payment being only £8mil turnover is going to be markedly reduced and thus the club needs to cut its cost base further to remain self-sufficient and in the black. Even if we weren’t in financial trouble I support the idea of a club running on a level where wages aren’t a massive proportion of turnover – if football is to be sustainable then there needs to be common sense involved.

The problem is that the players aren’t the only high salaried person within the club. I note that Pannu has made no mention of reducing his salary from the football club (£687,611 as per last years accounts, or around £13k a week), or the “consultancy agreement” between his company and BIH which is currently being paid out of club funds against the money owed by the club to its parent (currently circa HKD400,000 per month, roughly £33,500). If Mr Pannu wants to show us that he wants the club to be run properly, how about say halving both of those for the year to show that he too can cut his cloth to the new financial strictures.

The thing is, we’ve been here before. There has been mention of money issues within the club before, only for Pannu to come out with a bullish statement about how we’ve got it all wrong and he’s doing a super job. In 2011, a week or so after the Carling Cup win he told us that there was no financial issues with the club as BCFC were a “distant subsidiary” of BIH.  Whether he was referring to the distance between Birmingham and Hong Kong I’m not quite sure, but bearing in mind the club is over 95% of the turnover of BIH I think his comments then were slightly disingenuous – much like they are now.

I said yesterday on this site that I was very worried about the state of Birmingham City Football club, and having spent some time thinking about it, it still holds true. The club is in danger of truly going down the plughole as the last saleable assets look to be going under the hammer. We’ve heard that there are potential investors/buyers in the pipeline now for the last twelve months but in my opinion, the sale of the club has come no nearer now than it has been for a while. In the midst of all this cost cutting, this hand wringing and worry we have an “acting” chairman who seems content to continue taking massive amounts of money out of the club on a monthly basis with absolute no restraint. Fine words butter no parsnips, Peter Pannu – to paraphrase a football cliché, “don’t tell us you’re selling the football club, show us.”

Talking Points sponsored by John Hicken Industrial roofing and cladding materials

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141 Responses to “Fine Words Butter No Parsnips”

  • Craig Hoare says:

    Another great article,keep them coming kro

  • bluenoseneil says:

    Dan, once again beautifully put and well researched.

    I think it is high time Peter Pannu responded directly to OP and the fans with a transparent act of lessening his own monthly paycheck in line with the cuts happening elsewhere.

    Then – and only then – is he likely to claw back a small shred of credibility amongst the fan base.

    Completing this will only be achieved by either finding a buyer or getting CY out of the legal kak and starting to reinvest in the club, though I fear we are WELL past the latter.

    • John says:

      To ask Pannu to do this is akin to the F.B.I. asking Al Capone to stop his activities. If yo don’t know who Al Capone is, google it !

  • Mickey07 says:

    I’ve never hated someone so much in all my life,every time I seen a picture of the bloke I just want to put my computer through,he’s got one of those faces you just want to spark,a vile vile piece of scum just robbing our club

    Comment Edited – Mickey, don’t cross the line

    • Mickey07 says:

      Honestly mayor if anyone sees that fat tosser about the streets of solihull or brum I’m sure there would be a que to put one on the bloke….he’s out of control…

  • mark says:

    Excellent as always dan, I do hope pp will take you up on your offer of one on one interview in the near future so you can raise your worry and concerns for bcfc……

    • chris says:

      He won’t, Tom Ross has emailed and texted him lately and got nothing back, he’s untouchable, especially 7000 miles untouchable.

  • prewarblue says:

    What was that reputed favourite “Chinese” execution ?,,,,,oh yeh,,,,”Death By A Thousand Cuts”,seems thats Blues fate !!

  • Trevor Bishop says:

    If the likes of Tattum, Ross and Wiseman, so called supporters of our club, don’t stand up to be counted now then they never will. The club is shrinking by the day; both in finance and fan base as current supporters give up and any potential new ones find better run clubs to follow.

    • almajir says:

      Harsh

      What do you expect them to do? Do you not think that they are doing stuff you might not be aware of?

      • Mickey07 says:

        Mayor can you honestly see any form of hope for anything,we are lost and desperate as fans for anything,any little bit of hope from any local media,any chinck of light but there is nothing whatsoever mate,and it feels like Peter feckin pannu has us all by the bollox….

        • almajir says:

          Let me put it into simple terms for you Mickey as I suspect you’ve missed the point.

          You can be angry and you can vent that anger.

          However, threats of violence or anything that be construed as a threat of violence IS NOT WELCOME ON THIS WEBSITE.

          Capisce?

      • chris says:

        How about you all getting together on air with Tom to try and raise profile of recent events.
        plus not all our fans use a pc.

        • almajir says:

          I think everyone here is aware of events Chris, I don’t think there needs to be more media coverage here necessarily. Now, in HK it’s a different story but no one there seems bothered.

      • Trevor Bishop says:

        Your own quote below, “If someone starts something and gets the ball rolling, I’ll support it and support it massively. The thing is, is that whilst I see a lot of talk about it I’ve seen no action anywhere to push it.” answers both questions.

        can you imaging the impact if, on Monday morning, Tattum, Ross and Wiseman held a press conference to get the ball rolling? Tattum and Ross pledging the full 100% support of their employers and Wiseman resigning from his position at the club would certainly do that.

        The Mail’s then editor did an editorial on the day CY finally assumed full control, speaking of “a city institution” and how they, The Post and Mail, would be watching him to ensure he took care of it. not done much of that have they? We have you to thank for what bits we do know.

  • matt says:

    Are the seven players Packwood Fry Hales Lee Robinson Asanti and Scott Hogan (next up)? Were going down! With the sales of davies and zig! were f*cked!

    comment edited – please asterisk words appropriately

    • Evesham blue says:

      I don’t think hogan will be coming with his tweets and his lack of brain cells. The club would be markedly better off without Zig’s wages

  • bluenose08 says:

    “up the creek without a paddle”

  • RUPERT says:

    Do not buy season tickets do not fund asia rays, the only way out is to starve them of any finance, please everyone its our only hope now.

  • Asif ashiq says:

    Nice article an agree on pp salary. Everyone on big wages leaving so why not pp reduce his to show he is running the club properly. I very much doubt it. The club is right in cutting its cloth but everyone needs to be in it. As for the shareholders only pp n yeung a*** lickers will remain. Club is being savagely killed

  • thongs says:

    Perhaps we’re all looking at this the wrong way. Could.it be that we should be grateful to Asia Rays for advising us that we’re skint?

  • Oldbluenose says:

    Almajir;, Whilst we all agree with your fears, What is there we CAN do, ?.

  • mark says:

    Iyo dan hand heart you knew pp and carson were not going any where….
    This was just a formality….that they would duly be re-elected.

  • Alan Watton says:

    Harrowing words and they make logical and obvious sense. Pannu appears to be abusing the club and having his evil way with it. A nil take up of season tickets might be the way to get back at him but he could just close us down. The Chinese business mentality considers saving face more than doing the sensible. I too fear for our future such that we could be worse off than Portsmouth or Coventry. We could be another Chester or Halifax.
    On the brighter side there are too many of us to be ignored forever.

    Keep up the great info

    • Paul Carter says:

      Stuff your nil take up matey I’ll be buying 2 season tickets on Monday. The non goers just love another excuse to justify their non attendance.

      Fill the ground and interest potential investors.

      • almajir says:

        You’ll be a week early Paul, they’re not releasing prices until May 20

      • mark says:

        Totally agree with you Paul, dan noted 10,000 last year……it will be interesting see how fans outside this blog how they make their decisions in the coming months……..about renewing their st…….

  • crotcher88 says:

    they will get that 81million back and more gold and sullivan turned them over and now bcfc will suffer for it well done to gold and sullivan for turning over the snakes who now want to turn over our beloved club

  • Evesham blue says:

    Here’s a question anything new since we got relegated? Last January we thought we were having a closing down fire sale which never materialised.Parachute payments are drying up and budget slashed again. No surprise there then. We’re cutting costs.

    Overpaid footballers no great loss there then.The new strategy is performance contracts for young players. Give them a chance at least. We’re not in the same ball park anymore

  • KeepRightcroydOn says:

    I don’t think PP & CY are in any rush to sell the club. I am also of the view that there are no serious interested parties. The only serious Interested party was Paladini, and PP fobbed him off with talk of better offers on the table, something we now know was utter gosh.

    At the time I was pleased because I did not trust or want Paladini. Now I have come round to thinking he had to be better. Certainly don’t think he would have paid himself or any of his directors £600k/yr. He, or his backers, may have even provided much needed findings, something that CY& PP are unable to do. Can Paladini be persuaded to renew interest? Can’t see anyone else coming forward.

  • teerev says:

    There can’t be that much money left in the club.From a business point of view it would make more sense to maximise the assets rather than drip feed a few grand a week out of the club!! If it carries on much longer the club will have no resale value and administration will follow. Why do they not understand this??????

  • Evesham blue says:

    It’s not in their interests to go into admin. No resale and they would lose the lot. They are hanging on till the biter end

  • Evesham blue says:

    What would be the implications to Blues if CY was convicted?

  • Bluehobba says:

    A great article but he only resonses fromthese articles are from the ones that care, the fans.
    PP might be looking for investors for BCFC but so might I and I aint getting paid for looking.
    One of the problems is they only seem to make a statement when someone in the press or fans collectively seem to say something that hits a raw nerve.
    I said it from day one it may be the Chinese way, but.. it’s not our way.
    When hard times hit our company, everyone had a pay cut for survival and we even changed our utiilty suppliers ie gas, electric etc. I,d rather they gave us a load of bull / truth ie “we are looking for investors but nothing is concrete ” every month rather than speak twice a year.
    When was the last time we heard from CY?
    When next season starts, again, I will totally back the team from the terracing home and away but the board can go and do one.
    I want to vent my anger so much more. (I’m trying to word this correctly without bringing this site in to disrepute).
    KRO

  • Blueboy83 says:

    Its clearly in PP’s best interest not to sell the club, whilst the club is still alive he can continue to feather his nest with his huge ‘consultancy’ fees and wages. Only when the cupboard is truly bare will we see the back of this man.

    KRO

    • KeepRightcroydOn says:

      QUite right. Why would he want a pay cut from £600k to £0? Nice work if you can get it. CY seems perfectly happy to sanction PPs inflated salary. Why does he have blond fate in him?

      • Blueboy83 says:

        I can only imagine he knows something we don’t about PP’s abilities

        • Bluenosesol says:

          No evidence of CY taking an income, maybe PP shares his “remuneration” with CY and thats why CY is happy to sanction it?

          • almajir says:

            Unfortunately there is, as per the BIHL accounts Carson is taking £750,000 pa out of the holding company

  • RUPERT says:

    A few questions!
    1.The club i.e. BIH do own St Andrews don’t they ?
    2. How much is the freehold worth ?
    3. HSBC have some sort of mortgage outstanding ?
    4.What is stopping these “owners” selling the only true asset left?

    • almajir says:

      The answers to the first two are in the accounts

      The answer to the third question is yes, which kinda answers the fourth

      • RichardM says:

        So it’s only HSBC’s interests in St Andrews that would stop PP flogging that?

        Would be interesting to find out HSBC’s views on this (or from someone in the industry with a bit of know-how) – they are the only remaining stakeholder with any clout that PP needs to worry about?

        Then again – do they care about how the club is run as lng as they get their money back with interest?

  • romanblue says:

    This is more depressing and frustrating than the Wheldon era..This is like trying to fight a fly in the dark.nuff sed

  • George says:

    Nothing much will change at the top until the outcome of the CY trial is clear. Investors will not want to be involved yet and be tainted in any way by association with money laundering. Any business with looming cashflow problems need to either reduce overheads or increase turnover, or both, or it will cease to trade as it fails to meet pay bills as they come due. So any businessman will reduce the players wage bill because it represents the vast bulk of the overhead. It’s got to be reduced until the cashflow prediction makes sense. There is no bank or 3rd party financial support to help out.

    The reason for the usual silence from the directors is they dont have a plan. They are not Blues lovers, they are businessmen who’s business plan was all based on being in the Premiership. Now they don’t know what to do and they are fire fighting all the time. As soon as they have a way out and good news we will all know.

    Pannu and his ridiculous financial package is all related to what is happening in Hong Kong. It can be financed this way or by CY taking back his Blues loan. They have no choice. Take your pick. Both solutions are painful to Blues fans.

    Anyway the football wage structure is not related to the real world. Too many underworked, grossly overpaid people with limited talent. Lets stop taking about weekly wages. The annual wage relates to the accounts. Someone on £10k per week costs £1/2m per year plus NI and related overheads and hidden bonuses could easily represent £1m per year. So a shortfall of £8m in your cashflow, or whatever it is, might mean 8 players out or Zigic plus 2 or 3.

    If the fans want to take over we need 20,000 people to put in an average of £2,000 plus each to buy the club and set up working capital. The Blues Trust or someone should start taking pledges.

    • almajir says:

      If the fans want to take over we need 20,000 people to put in an average of £2,000 plus each to buy the club and set up working capital. The Blues Trust or someone should start taking pledges.

      I hate to be cynical but…

      Last season we had 10,538 season ticket holders. If we can’t convince more than 10.5k people to stump up an average of £400 for an ST what hope in hell do you have of getting 20k people to put two grand plus each in?

      • Paul Carter says:

        Couldn’t agree more. All these stayawayers need to understand they are actually a part of the problem that they can’t stop moaning about. These ones urging boycotts and non renewals are stark raving mad.

  • The Francis Fake says:

    Since CY took over Blues he has always had control even though Vico Hui managed to pull a flanker. Most others involved have either cronies of CY or those with a very minor interest and no power. CY has total faith in PP and sanctions Pannu’s wages etc. They go back a long time together. .Blues fate is unfortunately linked to CY’s He cannot sell the club for what he wants whilst he is under threat of going down. I think he will gamble all and hang until the trial verdict hoping he will get off. In the meantime there is no alternative other than to sell the family silver in order for the club to survive and avoid administration. The thing is that there is not much silver left now and this will be the last window to sustain the current regimes ownership.

  • Louise says:

    It seems that we are all sick of watching P.P and C.Y, do what the hell they like with our club without any consequences. P.P is probably sitting behind his desk negotiating player sales to fund his “pocket-expenses, salary and consultancy fees!”
    We’re being laughed at. No matter what you throw at him, he’s always one step ahead.
    Just this week, we see two new directors appear, then resign their position at the AGM- very convenient! Then poor Liu Xingcheng who decides enough is enough and tries to make a stand against him- only to have his votes vetoed! Surely he should have been advised of this new ruling before the AGM.

    We as fans have to do something to save our club. This is going to mean we all have to be pulling in the same direction. It needs every one of us to spend that £5 and join the Blues Trust. The more members they have, the more capital they have to work with.
    The last I heard, they we’re just short of 500 members. I know this is a good amount, but it doesn’t amount to much when you compare just how many of us are worried about the future of the club.
    It’s time we made a stand against the people that are tearing the heart out of our club. Let’s face it…no one else is interested. If you’re waiting for the white knight to come charging along, you’ll be waiting a long long time.

    It’s just us and them now!

    • Paul Carter says:

      Mmmm so join the trust at the same time as boycotting the club? Some great strategy you got going on in your head Louise.

      • Louise says:

        Where have I said to boycott?

        • Paul Carter says:

          I’m sure you said you were stopping going down more than once. Early on in the season you were moaning about Lee Clark and now it’s the owners.

          If Im wrong then I apologise of course

          • Blueboy88 says:

            Don’t worry Paul you don’t even know when the BCFC season tickets go on sale….!!
            Which is hysterical for somebody who complains so bitterly about poor support…

            So you see nobody listens with any great interest to your uninformed, self serving, self promoting opinions..

  • Carson Yeung says:

    Nice piece Dan!

  • George says:

    Dan. It’s not just about the ST holders’s support. There are a huge number who don’t go because of the quality of the football and the league we in. Too much dire football under McLeish did a lot of damage. It needs a PR exercise to sell the ownership idea.

    You want sell many ST at he moment because many people will not want to pay the present incompetent directors. There are many local businesses and well off supporters who will put in relatively large sums plus a lot of ex-players and present players. Zigic could start it off with a million if he really cared.

    • almajir says:

      Again, George, I’ll play the cynic.

      Where have they been? Sully asked local businesses to put money in, no one stumped up the dough.

      I’d like to see it happen, truly I would but I can’t see it happen at this moment in time because apathy is rife. Maybe I’ve got it wrong, maybe it will change but right now I cannot see it happen.

      • AF says:

        OP maybe apathy will reign about this idea supporter ownership whilst the leading blog writer remains cynical or apathetic. I’m sure if you were enthusiastic then you would find a good degree of support behind you. That is the power of what you have started in OP.

        • almajir says:

          Af

          If someone starts something and gets the ball rolling, I’ll support it and support it massively. The thing is, is that whilst I see a lot of talk about it I’ve seen no action anywhere to push it. And before anyone says it, no, it won’t be me. I can’t do everything.

          As the article says, fine words butter no parsnips…

          • Atahualpa is a BlueNose says:

            Firstly, we really, truly need to know if a fans’ buyout is feasible. By this, can we get a sufficient number together with enough financial clout??

            The only realistic way we could raise enough money, is to mortgage the ground and future income (as lots of clubs and owners do any way). We would not need tens of thousands of fans to pledge/give money – just some high-net individuals and then some hundreds of fans to “borrow” to the club whilst it is being purchased from those arseholes in HK. They would eventually be paid back once the club was in a position to do so.

            In amongst all of this, we would also have to have a definitive figure for what CY and his shiny-headed sidekick want for Blues. Then, if possible, work towards that figure with a 3-5 plan with all possible emergencies and contingencies planned for. The club is run efficiently by its staff and this is very admirable. If there could be an overdraft arranged with the club’s bankers which can cater for its needs, why oh why would we need “millions and millions of GBPs pumped in every season?”
            We are living within our means at the moment (allegedly), why would this not be the case in the future??

            If we had true Blues representatives on the Board – as well as independent ones to ensure checks and balances – at the very least we could say that the club really was being run for the benefit of the fans??

            It would require an immense amount of fortitude and resilience to even think about getting such an idea off the ground, but nobody can say it’s impossible.

            If each and every one of use new truly, that every penny spent and generated by the club was being “ploughed back in”, would we not spend/come to the club even more so??

            Surely we have a solid mathmatician/financial expert amongst our ranks who could float an idea or two??

          • AF says:

            OP as you probably know, I’m happy to stand up and be counted, have the skills but am only a small businessman with the club at its interest. The greatest opportunity lies with the full support of your blog. Yes you probably have a full time job and family too. Somehow the fans need something to bing them together, a common pupose and aim. Supporter ownership could be that common purpose??

          • almajir says:

            That’s what the trust is for mate… But they need people to join and people to drive it

    • burntwoodbl says:

      Dire football under McCleish are you having a laugh.
      I stopped going after attending every championship game under the management of Steve Bruce-that season was absolute dross!

    • Paul Carter says:

      George do you inhabit another planet?

      Explain to me why you think Zigic from Serbia would think for a second about putting a penny of his own money into the club?

      Especially when our so called own, as in the loyal true Blues fans have deserted the club in great numbers and see their support in terms of moaning on the net and thinking up new excuses for their betrayal. As I say to all those who are taking part in the downfall of the club by staying away, did you enjoy Wembley?

  • skareggae72 says:

    Que sera sera
    KRO

  • BluesinJapan says:

    Personally I would swap places with Portsmouth right now.

    Playing 3rd/4th tier football, but with a ‘German-style’ model of fan ownership. I’d buy into it, I’m sure lots of people would, and the club can then move forward in whatever level of the League pyramid they are in.

    The situation we are now in is entirely from a result of wanting to buy into a foreign ownership, moneybags approach which is entirely unsustainable unless being bank-rolled.

    I loved last season. Lots of young players, including Blues fans, the only downside is the ownership issue. Administration and possible relegation isn’t something to be fearful of, the further from the mercenaries and parasites following them in the Premiership the better, and when the bubble inevitably bursts to have a fan-owned club with local players is something all real blues fans can get behind.

    • Evesham Blue says:

      No disrespect but you would be a fool to want to swop places with Portsmouth. The club has been in and out of admin a few times and has gone down the leagues. They dont have a pot to p*$$ in.

      • Bluenosesol says:

        Problem is with fan buy outs – Once everyone has tapped their finances to buy a stake in the club, where does future financial injection come from. Supporter ownership guarantees stagnation.

        • Ali Duncan says:

          BNS – my first thought when reading above. For aclub like Blues to progress and sustain itself we’d need either Premier League TV money or a backer with serious financial clout.

    • Paul Carter says:

      If we base the average fan on the comments on OP we’d be mad to even think about a fans collective.

      There would be no one there after a couple of bad games.

    • bluemaximus says:

      Without the implications id agree. The Club needs to be given back to the fans. Problem is, all of us are all talk. When the Glaziers took over United, they made a stand. They said “you are not taking our club”.
      They created FC United. They created a club that had the original heart and soul, they created a club that had everything but name. They regularly have gates of over 2500. Affordable, safe, grass roots football. Football for the fans.
      Im not saying this is the route we need to take, what I am saying actions speak a lot louder than words. But the only alternative is all listen to people like Paul Carter and basically bankroll a Blues ruin. My name is not going to be nailed on to that post.

  • ChrisG says:

    At this point in time the fact Palladinis consortium didn’t get to take over when there seemed real interest & probably the only REAL interest says to me CY has no intention of selling Blues & i’d bet he’s somehow quietly confident for whatever reason that he’s gonna get off his money laundering charges & take up the helm back at St Andrews. KRO

    • Evesham Blue says:

      Aye. I suspect he needs Blues to get back in the Prem before he sells up. The initial outlay was too great to sell up for such a big loss. If I was an investor I would wait to see the outcome of the trial before making a move.

      Palladini was a chancer. The ITI bid depended on getting Blues on the cheap and turning it into a Prem league team in a short time with little investment to maximise their return.

      It all depends on the CY trial outcome. That is why I asked what happens if he is found guilty? Do his assets get seized to the tune of the alleged laundered monies. Blues owe him a sizeable loan. Is that loan called back effectively putting Blues into Admin?

      I would be careful to wish out the current owners as this would spell disaster for Blues. You think it is bad now. Imagine how bad it can still get

  • Paul Carter says:

    I said this all along Chris but hot the usual put downs by those ‘in-the-know’ types who although never go down knew that a takeover was imminent all through the season.

  • bangkokblue says:

    This may be a very old topic but I understand, and I may be wrong, that, many years ago and before he became a lawyer, PP retired from the Hong Kong police due to allegations of misbehaviour …. please note that I am being careful with my words here……if this is true then surely, as always t,e idiots who run the league should never have allowed him to pass the fit and proper person test?

    • almajir says:

      They can only go on convictions – Pannu was never convicted

      • prewarblue says:

        I agree he was never convicted Dan,,,,,the main reason the case never came to court ?,,,,,the main witness disappeared,,,,,,sound familiar,,,,,,those who oppose him getting kick ed off the board !,,,,made to disappear in other words

  • sutton apex says:

    i’m sick of saying it – forget moaning on forum boards, join the blues trust in our thousands and that is a voice that must be listened to – ie the paying customer. Finally the gate receipts this year will be more than tv/parachute money – pannu has to listen to the paying fans now.
    When all our last remaining crown jewels are sold this summer unless the clark babes gel quickly we will be relegated – ask coventry and pompey !!!

    • Pete says:

      Agree fans shold join the trust, but I fear the point is that they do not have to and wont listen to fans even if we sell all assets. What fans want is not in the same interests as to what they want.

  • John says:

    i May be wrong as he may have changed his mind since, but Akwasi Asante has turned the contract we offered him down :(

  • Blooflame says:

    My personal belief is that Pannu is “hiding” a multitude of wrongdoings and is frantically trying to put it right before he joins Yeung in the dock!! I’ve stated before that if I were a buyer, I’d wait for Administration to get a better price. Perhaps that is the situation? Surely there is someone waiting out there. I look at Manchester City…. why there? why would you invest in the third City and into the second club at that?? Is the answer that they have a better business team with better contacts abroad promoting the clubs interest? ……they’re out there…!!

    • Pete says:

      I am sure there will be a buyer wanting to buy a football club for peanuts. I for one, would be content to see us go into administration this season coming, get a 10 point penalty and all being well take our chances at getting enough points.

  • Brian king says:

    How close are we to going under, they will sell the 2 to 3 desent players that we have left next session. They may get 6 or 7 mil for them but how long will that last then what. Just how much is St Andrews worth it has tab the next step.

  • SolblueDean says:

    Dan,

    Are we now at the point where administration might not be such a bad option?

    If we did fall into administration would that be the end of BIH, PP and CY’s involvement or would they still have a claim on the club?

    Am I understanding something that was posted on OP correctly in that if we fell into administration before a certain date a points deduction could still be applied to this season, meaning that we would be relegated?

    Would administration result in a clean set of books for any potential buyer to look at?

    Sorry for all the questions but I am really confused as to what administration would actually mean.

  • Blueboy88 says:

    Almajir ,
    bearing in mind the club is over 95% of the turnover of BIH , how do they generate the other 5%

  • bluemaximus says:

    Pledge of Group’s Assets
    As at 31 December 2012, the Group has the freehold land
    and buildings with the carrying value of approximately £21
    million (equivalent to approximately HK$262 million) which
    is used to secure a bank borrowing of approximately HK$4
    million for the Group.

    St Andrews is next

  • Tony says:

    Dean I asked the same question in an earlier blog and received no answer therefore I repeat, is there anyone who understands the full implications of administration, who would be willing to explain in full what it would mean. ie would any resulting points deduction be applied to this season or next ?bearing in mind this season has finished.
    Would not admin result in the speedier sale of the club?.

    • almajir says:

      Admin would result in a points deduction next season. It would probably speed up the sale process but it would mean Carson and Pannu would get less/nothing and for that reason they will not allow it to happen

  • jazzzy786 says:

    We could ground share with Coventry next season to generate extra income. I was reading about the possibility the other day. Selling the ground is never a good idea

  • Paulo says:

    This is one of those ‘hard to read’ articles, and to be honest there can no longer be any trust or respect from the fans towards CY or especially PP. All I can think of is how much control he is not going to relinquish. As much as it makes me mad, all I care about is BCFC.
    ..great piece again alamjir, can’t thank you enough for what you do for OP and us rather concerned lot.

  • thongs says:

    With our best players gone and just kids and players nobody wants I think it will be easy to boycott and stay away. It may not be a boycott in name but sub 8000 crowds will be common.

    But I’m standing on my settee shouting boycott boycott boycott.

    Who’s in?

  • Evesham Blue says:

    its a personal choice whether to renew or not but canvassing other people to boycott is not the way forward imo. I would have thought less season ticket sales will mean less cashflow and more player sales as a consequece. might also mean we cant get players like Caddis as we dont have the money to sign them

    • thongs says:

      You’re correct its a personal choice, fund PP’s lifestyle or do something else. Take the family on holiday perhaps, buy a new TV, give some cash to Harry to help others, drink and forget about it etc etc.

      Its a personal choice, its no to Pannu from me, its no to Clark from me and its a no to substandard youth and journey man rejects.

  • Teej says:

    Well said Dan, great article as usual. I am going to join the Blues Trust, whether supporting the club fully or staying away in protest, we need solidarity as fans. Together we have the power to overthrow these tyrants. This cash cow is our club and we need to stop it being milked!

  • Tony says:

    I joined the Trust last week and my number is in the 400s, so there is still a long way to go. pathetic number of people have joined so far.

    • Ali Duncan says:

      A shame but we can spread the word by mouth. I’ve encouraged a couple of people to join and if all members do that then membership increases. It might take a bit of time but we need one unified voice.

  • Tony says:

    Many thanks for your answer Dan, It seems we do not have many saleable assets to prevent admin and can well understand CY AND PP doing all they can to prevent it happening which in itself is reason to do all we can to make it happen.

  • mark says:

    Boycott the blues I really do hope you stay away from our club. For those who wish to take our colours forward stand proud because we are united as one bcfc. Lets embrace next season I will never lower our colours regardless of our situation. Boycott see how far it get you absolutely nowhere, and allow the vilers to take the p*ss never,never…….kro this is very time we should be unite as one……quite plain really either in or you stay out choice is definitely down to our really fans…… I know which one I am do you………

    • Paul Carter says:

      Mark the hysterical thing is all those calling for boycotts never go anyways and their last game was Wembley or one of the Europas.

      It is amusing that those who don’t support the club are very much the most vocal and regular posters on here.

      OP and other sites give them the BCFC connection that they don’t have in real life.

      Sad

  • thongs says:

    My Mrs reckons that we should all stay away but I think she wants me at home more. She’s just been talking to her mom on the phone about the wonderful Sunday lunch she just cooked. Fine words indeed but she forgot to butter the parsnips.

  • Chris Smith says:

    “Furthermore, Pannu and the board have secured a mandate which allows them the right to repurchase shares from current shareholders and issue new shares without having to seek prior approval from an EGM or similar.”

    Call them on it. Seriously. PP & CY probably can’t afford it, some shares as we know were issued as a way of covering debts so my thought is put the pair in a position where they have to do it. See what happens.

  • Marky mark says:

    I hate PP as much as anyone else and look forward to seeing the back of him, BUT to be fair a lot of his actions / decisions have been unavoidable, its not his fault CY is in court or that we got relegated or CY finances are frozen, you could argue he’s done a good job keeping us afloat the last 12,months with no firesale, and don’t forget CY is still pulling all his strings.

    Yes he takes to big a wage and communication is shit, but then some of our so called fans are equally poor, crap attendance constant moaning, abusive towards LC and the coaches, and now planning a boycott and hoping for admin, not to mention the internet crew who don’t go your opinion is worthless, to all our fans who fall into these brackets go then we don’t need you and you don’t deserve us

    • Evesham Blue says:

      I thought you started well and I found myself agreeing with you until you did a “Paul”.

      We all want Blues to do well whether we get down to the games or not. We all have our own reasons for going to games. Alot of it, the moaning is down to being unhappy with the status quo. People vote with their feet when they have had enough or moan. Not surprising considering the crap the club has put its own fans through with the off field farce that has dragged on and on and on.

      I agree the mass boycotting comments and wanting to go into admin are just plain foolish. But you dont have any right to tell another Blues fan to stay away for good or accuse them of not being proper fans. Every fan base has its own share of ejits granted.

      • Marky mark says:

        Mate, how can people have a right to moan if they don’t go the games, if you don’t go the games you have invested no time-money or support in the club so don’t moan !

        Fans that go to the games have a right to express there disappointment but often target the wrong people for the wrong reasons, I’m not telling fans they carnt go I’m saying piss off then we don’t need you as there doing more harm then good.

        I’m not Paul in disguise, I just happen to share his opinion on what I expect from our fans.

        This is not aimed at you personally Evesham blue

        • Paul Carter says:

          Marky mate you cannot get through to these people. They will NEVER attend another game again. They have no need to they get all the BCFC fix they need from the net. The irony of morons calling for boycotts on one hand then talking about someone buying the club is just pure brilliance.

          Yep, all these billionaires will be queuing up to buy a club who’s fan base not only don’t go but moan non stop week in week out even many times after a victory.

          • Marky mark says:

            I’ve said before Paul our fans have deserted us, unlike so many clubs who have fallen further than us in recent times, Leeds Sheff Wed etc still pulling 30k crowds and what have they won in the last 30 years.

            A football is nothing without its fans

    • chas says:

      After reading your coments in that Post, why is it you hate Pannu so much? You say yourself he isnt to blame for most things thta have gone on..

      • Marky mark says:

        His business style, his demeanor, his failure to communicate when required, his lack of transparency, his continued absence from Stans, his inflated wage oh and I don’t trust him need I go on.

        But he can be all of the above and more but still have acted in our best interests for the most part?

  • tamuffblue says:

    All this bickering on here wether it be Boycott Boycott or Look at me I go every week so Ime the Real Deal is the shameful product of the corruptable dealings of certain people who have used our club to prosper their own sordid lifestyles !!!!! BUT the be all of the situation is that due to the ineffectual rules of the governing bodies OUR CLUB IS NOT OURS ANYMORE !!!!!!!IT BELONGS TO AN EX BARBER AIDED BY A SIDEKICK WHO IS AN EXPERT IN ASSET STRIPPING AT WHATEVER COSTS !!!!!!!!!! – IT MATTERS NOT IF WE HAVE 2OOO SEASON TICKET HOLDERS OR 20000 THEY WILL STILL ASSET STRIP TO RECOVER THEIR MONIES !!!!!!!!! THEY HAVE A PLAN AND WHOEBETIDE ANY WHO STAND IN THEIR WAY – GRIM GRIM PERCEPTION I AGREE BUT FACT !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  • Tony says:

    So Marky you want to continue funding Petes lifestyle, whilst he bleeds us dry, to my mind that is stupid. Better by far to have a fresh start and a clean slate ,if that means admin then so be it.
    It might be painful for a while, but things will get better, after all just what do we have at the moment?As Thongsy said a bunch of kids and journey men rejects plus a third rate manager, we dont have much to lose.

    • Marky mark says:

      Tony

      And what do you think you will be watching after administration ?

      A bunch of kids journey men rejects and a third rate manager would be wishful thinking.
      You don’t stop moaning ad it is what would you be like if our team resembled Telford fc

      • thongs says:

        Quick question Mark, if you and others continue to pour money into PP’s pockets and in two years he is still here and we’ve dropped out of Div 1, will you accept that you are partly to blame?

        • Marky mark says:

          Thongs

          I will answer your question, he won’t be here in 2 years.

          If he is, we will still have a football club, and can only judge his efforts in 2 Years time. ask me then

    • mark says:

      Did not take you long tony to start knocking clark again………..how some things never change…..

    • Ali Duncan says:

      Tony, I would be very careful what you wish for. Administration could well mean oblivion. Who knows what could happen. It might not happen immediately but it is a possibility. I’m sure we all noted how close Pompey came to it and how many other smaller clubs did go to the wall. I’m not saying it would definitely happen but if it did (to state the obvious) we would have no club to support)

      Administration and possible a new owner would not necessarily cure all our ills. It could be we suffer more heartache from new owners that are less fit than the incumbents or take so long to get new owners that the club can’t continue……

      • Drew says:

        “It could be we suffer owners that are less than fit than the incumbents”……. I am assuming you are compiling jokes for a new sketch show there Ali? …..we are talking about the same lot here aren’t we?…….. A board that employes Pannu to the ‘roger our club’ and use his own version of ‘the withdrawal method’ to extract some £1.6 mil for his obvious expertise….. Whilst I might add, insisting we need to sell our young starlets to save the club from administration (Mutch, Butland….more to follow me thinks).
        These are the same owners that I guarantee … You will never see down our beloved St Andrew ever again. Apart from the obvious fact they would be lynched, I would rather have owners who could look us all in the eye and physically support the club. Good, bad, indifferent, we’ve had them all but this lot takes the biscuit……. Or should I say fortune cookie …..except we cracked the cookie with dog s**t in the middle.

  • Evesham Blue says:

    The dream is on lads. 2 wins for Wigan and a point or better for sunderland and the Vile are down lol

    • Ali Duncan says:

      Although they won at the Library last year I can’t see Wigan winning there next week so I think it will be all over by mid-week. A shame as Arsenal are my local team and I frickin hate their arrogant fans and love to see the cocky bar-stewards lose at every opportunity.

  • DoctorD says:

    I agree with Al – it would be a sign of good faith on Pannu’s part if he took a cut in wages.

    As I see things, there is a feeling Pannu has only one thing in mind and that is to make money from the club — the problem being that, in the process, he is effectively squeezing it to death.

    But looked another way, it might be good that he wants to make money out of it because it is more likely to be a well-run ship. And anyway, if we were not a publicly listed company with stock-exchange duties, we would probably have even less idea what was going on. Look at a club like Chelsea, which seems to be the fiefdom of one man.

  • Tony says:

    Thought it resembled Telford anyway Mark

  • Tony says:

    Paul, Mark ,and Marky Mark. The three Stooges who among you is Mo?.

  • mark says:

    Just thought from the past quotes “the soft days are over” co-owner David Sullivan. “lets shape up or ship out time.” chairman David gold…………maybe pp took a leaf out of their book…………..

  • JohnBond says:

    Why don’t we sign Pennant

  • Hi all Bluenoses! Its not easy to understand what happens with our club, but support the Blues Trust is vital and a good start for people who care for BCFC. And buy your seasonticket – show the world we are not giving up and support the team and badge! KRO

    • zxcv says:

      Have you not read Pannu`s remarkes on the bcfs main site ? He has posted a update on the results of the AGM, sounds to me like he is handing out tissues to the b/t to wipe the egg of there faces.

  • Dave says:

    What you’re looking at is the devil butcher flogging the last parts of a horse before it dies! Pannu, Carson and the rest of the mafia are emptying Blues of as much money as they can, syphoning it off into their own accounts or wherever and letting Blues go out of business in the process!

    As a Blues fan i’m devastated to see this happen but the mafia are pushing for an end!?

  • Knowle Blues says:

    Keep up the good work Dan.. I fear this time next year when the Sky parachute payment ends.. Match day revenue alone cant keep Blues afloat, PP and CY are bleeding our club dry of assets before they call time on us….


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