Significant news have been announced for Birmingham City with a statement released as fans gets cautiously optimistic about the news.
BSHL, owners of the Blues, have entered into exclusive negotiations with a party to close a sale of the Championship club.
They announced on the Hong Kong Stock Exchange, that they have signed letters of intent with a potential buyer and the deal would also include the purchase of the club’s St Andrew’s stadium.
In January, the club said that it was considering a investment deal, and then a month later, Birmingham City and “numbers of individuals” were indicted by the EFL for alleged rule violations during an investigation into a takeover offer.
The league organisation stated that “sufficient evidence” was available to charge misconduct.
These charges claim that many people were permitted to act as ‘relevant persons’ without EFL approval.
Other charges include the allegation that the club was handed over to someone else without their approval.
Maxi Lopez and Paul Richardson attempted to buy the club’s ownership but this was stopped in December.
Separate negotiations were held with unnamed investors. However, the EFL has not confirmed who the individuals involved in the matter.
Huge update for Birmingham City and their takeover hopes. “The parties involved will now enter a period of exclusive negotiation to agree the final terms of the transactions.” #BCFC More, here:https://t.co/a5skvER0Ov
— Charlie Haffenden (@JournoHaff) April 12, 2023
CLUB STATEMENT:
Birmingham City wishes to issue the following statement.
The Club’s owner, Birmingham Sports Holdings Limited, has announced on the Hong Kong Stock Exchange that two letters of intent have been entered into with a potential purchaser.
This is in relation to the exclusive negotiations of two potential transactions.
One transaction would involve the disposal of:
- 24% of the shares in Birmingham City PLC by Birmingham Sports Holdings Limited.
The other transaction would involve the disposal of:
- 21.64% of the shares in Birmingham City PLC by Oriental Rainbow Investments Limited; and
- the entire issued share capital of Birmingham City Stadium Limited by Oriental Rainbow Investments Limited and Achiever Global Group Limited.
The parties involved will now enter a period of exclusive negotiation to agree the final terms of the transactions which will formulate the Definitive Agreements.
The Definitive Agreements are expected to be entered into within two months of the date of the letters of intent, at which time the potential purchaser will also be announced.
The transactions will be conditional upon the fulfilment of the terms in the Definitive Agreements, including the approval and consent of the English Football League (EFL).
As mentioned, there is significant news for Birmingham with a statement released as fans gets cautiously optimistic…
@JustinG92785123: The most positive news for years. Blues move a step closer to the sale of a majority of shares and the ground. There’ll still be hurdles to overcome but this must finally give hope. #bcfc
@Harrison_1875: Very promising news but BSHL would still remain majority shareholders no? #bcfc
@Bluehead1875: I’m not one to get carried away but does this mean we can buy Bellingham back now? #bcfc
@Matthewblue1875: Finally some positive news for Blues. The end of the current shambles is in sight. Unlike other bidders, Often Partisan Ltd have gone about things quietly & professionally to get this far. Hopeful this gets sorted quickly so we can really start to look forward to the future #bcfc
@PadCelBlu: What I like most about this ‘often partisan’ takeover is how it’s being kept under wraps, which is professional and shows they’re serious. It’s proper business like so it gives me hope they won’t take any shit from bshl #bcfc
@luke_bcfc29: Not sure it’s official enough there’s been no press conference in the kop car park, getting 40% of the club and most importantly the stadium back is massive if it goes through #bcfc
@TheGJRichards: It’s a start of new ownership – with a timescale too. I’m not celebrating quite yet, but it feels different this time. Looks like we could be getting our Club back. #BCFC #KRO
@nathanhudson04: Breaking news: Blues finally write a statement that means something
@logiebat2: That’s a majority sharehold isn’t it?? And the ground 😳🫡
@ryanbcfc94: It’s actually going to happen
@deansmith1975: A small glimmer of light is emerging from the end of a very very long dark tunnel
@charlietheo: Could finally be some positive news for blues…
@stellytalks: LETS HAVE IT!!!!! KRO
@sberesford95: Omg it’s happening 🤩🥹
@gethinlefty: A new majority shareholder and a new owner for the stadium 😍⚽️ pray this goes through 🙏 We want our club back 🔵⚪️ #KRO @BluesFocus @blues_breakdown @BluesAnalytics_ @COYB_Official
@MarkWatson1875: Exceedingly good tweet that is Blues 💙 As always though, it’ll be the hope that kills you 😂
@bcfcxjack: we’re fucking back i might cry
@_1875: Just wanted to say a massive thank you to BSHL for their stewardship to #BCFC They have shown tremendous passion, leadership and transparency. Go well, you will be remembered 💙
@conbcfc95: Fixed stadium and new owner, this year could be huge for us 🔵⚪️
@ToweringZigic: Could this finally be the first step on the road back to normality? I have everything crossed #BCFC
@Monnox1992: Season ticket renewal round the corner im cautious hope it happens tho #bcfc
@GeorgiaEH17: THE END OF BSHL MIGHT ACTUALLY BE HAPPENING 😭👏🏻 #bcfc
@Jak_Collier: So still a staged deal to an extent but seems better given BSHL are also selling a big chunk as well as Oriental. Takes it to around 45%. Honestly don’t think it’ll be long for the rest to be disposed either probably by the summer #bcfc
@VinceFish13: Please let this be the end!!! 🙏🏻
@Blues_Kiee: Actually can’t believe it, didn’t expect them to sell as much of the club either
@REASONSTOL1VE: so we potentially have a new majority shareholder! let’s hope this transaction goes through! #BCFC #BSHLOUT
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