It’s been a busy month so far at Blues. From the new kit reveal, to news of the club shop refurbishment and also news of the training facility re-development at Wast Hills. However we may have the news we’ve been waiting for…
With a large turn out at St Andrews for the kit launch last night, one man has been busy abroad – Panos Pavlakis. We all know what a great job he’s already done in terms of appointing Rowett and helping him steady the ship. However, there is good news on the horizon.
We understand from the statement released from the Hong Kong Stock Exchange in the early ours of this morning, it’s out with the old and in with the new. We understand from it new co-owners (lead by Mr. Suen) are expected to join forces with TTA (Trillion Trophy Asia) and bring $120 HK dollars with them (£10 million). Here’s the key point from the statement:
HK$120 million will be used to, when considered appropriate, acquire additional talented players who are expected to make contribution to and help enhance the competitiveness of the team significantly so as to assist the team to reach the goal of being promoted to the Premier League in the future.
Yes you read that right, £10 million! But, and it’s a big but… These funds won’t be available for Rowett this summer as some of the share transfer dates are in the autumn. So it’s likely the funds will be available by the January transfer window as the statement says:
It is intended that as to approximately HK$120 million will be used to satisfy the annual working capital requirement of BCFC for part of season 2016/2017 and the entire season
It then went on to say:
It is expected that upon completion of the Proposed Restructuring, the Company would be able to meet the English Football League’s funding requirement as well as having sufficient capital for boosting the performance of BCFC with the aim to get promoted to the Premier League.
This can only mean more funds will become available in the future after all the shares have been transferred, which does take some time.
- Information on the investor, Mr Seun’s company
The statement then tells us the identity of the company’s investor:
The Investor is a company incorporated in the British Virgin Islands with limited liability and is wholly owned by Wealthy Associates International Limited, a company incorporated in the British Virgin Islands with limited liability, which in turn is wholly owned by Mr. Suen.
In regards to Carson Yeung and Peter Pannu, we will have to wait until after the EGM to hear their fate. But for now, things are finally looking up for Birmingham City Football Club and we can build on last season with these new funds and get back to where we belong, the Premier League!
More to follow on HK statement Tues morning. Briefly: complete, formal severing of links with old guard; in with new #BCFC parent co. owners
— Colin Tattum (@colintattum) 6 June 2016
Stay tuned on our Twitter @bcfcfollowers, where we will have updates throughout the day and all the latest news that will be filtering out.