New owners Trillion Trophy Asia have agreed a £26 million finance package to ‘enable the club to explore new ways of generating revenue’.
In an announcement to the Hong Kong Stock exchange TTA announced they will provide a loan of up to HK$250 million to Birmingham International Holdings Ltd (BIHL) “to identify suitable business opportunities”.
Online games and entertainment are at the forefront of the deal, hoping to target large markets in China.
Albeit the agreement doesn’t mention any of that money will be used to fund the club and transfers, but it does say the loan will cover all “professional football operations and potential new investments”.
In the large scheme of things, this is good news for all parties and it shows us (blues fans) that the new owners do have money behind them, just where they should spend it is up for debate.
The statement read:
“While Trillion Trophy intends to continue with the existing business of the group, it will assist it to identify suitable business opportunities to broaden its income streams.
“Trillion Trophy has further undertaken (to) provide the necessary financial support to BIHL in order to ensure it has sufficient working capital for its operation in the next 18 months after the resumption of trading on the stock exchange.
“BIHL will further develop its principal football business and strive to enhance the operation and business value of the existing operation.
“Moreover, leveraging the experience of the directors, BIHL is identifying business opportunities including sports, sports education, culture as well as online games and entertainment.
“In line with the expansion plan, the company plans to expand its office space and recruit new staff in Hong Kong.
“Riding on the economic growth of China, the company also plans to set up new entities in China to explore potential business opportunities.”
In the Summer, it was reported the club would receive an investment of up to £10million . This is all still set to go ahead for the January transfer window.
Blues fans, what do you make of this announcement?