Birmingham City Message Board
I have read an article today that highlights just how bad things could get in the near future.
Apart from being broke it has emerged Yeung has used St Andrews stadium and the owned land around it as collateral for a bank loan to offset debts.
If he is found guilty and he has to repay debts it is possible the bank could sell the ground to recoup some of their losses.
Some good news is Pannu is still in HK trying to get very rich parties interested. Apparently there are several investors willing to plough money into BHIL which means money for BCFC.
I will post a link when I get home.
It looks like Foster is the next one out, albeit on loan. Are we that cash desperate that we need to save £1.5m his reported wage bill.
Then i read we are looking to buy a striker (Smart)from Doncaster for £2-£3m, this may be dependant on Jerome going to Stoke.
I am scared to open a paper or turn on the radio for fear of more bad news.
I think i might go to sleep until 6th August and wake up to find it has all been a bad dream!! (or nightmare)
I am deeply saddened with the decision of Michael Wiseman stepping down, his father was a saviour for Birmingham City and worked tirelessly for more than 50 years, this is becoming a shambles and a disgrace.
I have watched the dispatches programme and it highlights very interesting and frightening viewing.
What goes on behind the scenes is something I suspect we all hear about but do not want to believe our own clubs could be so stupid.
Messer’s Sullivan and Gold must be having a right laugh now, but surely, they knew what they were doing when they sold to Yeung.
The fact that even the chairperson of the football league does not know who the owners of football clubs are is even more worrying.
It is time that football looked at itself and drastically made wholesale changes, both in the league and in the premiership.
Unfortunately, it will never happen as so much money is involved and it seems everyone has a finger in the pie.
The loan system is flawed and although Birmingham has used it to good advantage, I think that it should cease between premier teams, let teams in the premiership stand on their own two feet.
If they want to loan out players then let it be to clubs in the lower divisions and these so-called super stars can see how the normal footballer has to earn a living.
And yes it will will be a very long road to this recovery.
Hi P, have not seen programme but will catch it. Sounds very similar and very worrying. Where will it end. I can see us becoming another Portsmouth. Very sad for us long standing Bluenoses.
Still we have to keep the faith.
Jim, did you see Dispatches on CH4?
The similarities between what this Far Eastern 'Joe' did to buy, run and sell a club are frightening.
First was the transparency. Very hard or virtually impossible to say who owns the club. Several investors will appoint a front man who will pass the due dilligence and fit and proper persons test. (CY)
The investors will have a company to own the club but it will be unclear where the funding comes from. It will be registered off shore. (BIHL. Reg, Cayman Islands)
The legal owner may step down and/or appoint a sibling to run/front the business. (Ryan Yeung. CY's son Aged 18)
If anyone missed the programme, I strongly suggest you catch it on ch4 player.
Blues were one of nine potential clubs that could be bought cheaply for a business investment. Good in the short term but medium term, just a get rich quick scheme for the owner.
Yeung replaces a director whose family have been with the Blues for 80 years with his 18 year old son! He must know that he is going down for some time.
I know its only one game but Rooney looks more like striker than Jerome ever did. Good to see the kids getting a run out.