Tuesday, June 19, 2007

Carson Yeung confirmed as HK's Birmingham suitor

Hong Kong businessman Carson Yeung Ka-Shing's bid to buy English Premier League club Birmingham City has been confirmed by his aide. "All you read in the newspapers is true," Sammy Yu, Yeung's right-hand man, was quoted as saying by the South China Morning Post. He said the tycoon had sent a representative to Birmingham to discuss a possible deal to buy the club. "But this is still in the discussion stage and no further details can be given," he added.

Yeung is chairman of Hong Kong Rangers FC and has been linked with takeovers of Reading and Sheffield Wednesday in the past. According to Hong Kong's Ming Pao newspaper, Yeung was part owner of the Macau casino Greek Mythology.

Birmingham owners David Sullivan and David and Ralph Gold are happy that Yeung has sufficient funds to buy them out if they decide to sell for around £50 million (US$99 million). But they need to be satisfied that such a move would take the club forward and that Yeung and any of his business partners would have the good of the club at heart.

Sullivan has made it clear on several occasions that he would be happy to sell his stake in the club after 14 years and he has become tired of the travelling from his Essex base to the Midlands. But it is understood chairman David Gold has more of an open mind about relinquishing his involvement in the Blues, whom he helped to rescue from major financial problems when linking up with them in 1993.

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