Birmingham City FC receives bid approach

BIRMINGHAM City is the latest English Premiership soccer club to become the subject of takeover speculation.

The club, co-owned by Ann Summers owner David Gold and Sunday Sport publisher, David Sullivan, confirmed to the London Stock Exchange, yesterday, that it had received an approach. The statement added that negotiations were at a “very preliminary stage” and that there is “no certainty that a transaction will result from the approach”.

However, auditors are expected at the club this week to carry out due diligence and according to reports, the club’s owners have signed confidentiality agreements after already agreeing to the sale “because the buyer is prepared to pay well over market value”.