Blues wait on Yeung news

BIRMINGHAM expect to find out later today whether prospective new owner Carson Yeung will be able to push ahead with his bid to buy the midlands club.

Yeung’s advisors are promising to make a statement on his plans after an EGM today of his company Grand Top International (GTI), which is being used to handle the proposed takeover of City.

Blues’ current chairman David Gold and co-owner David Sullivan are hoping to hear Hong Kong businessman Yeung has the funds to finalise a buy-out.

Yeung bought a 29.9% stake in Birmingham for £15 million in late June which made him the largest individual shareholder – with a view to taking complete control sooner rather than later.

Gold and Sullivan now both own 23% of City’s shares and were expecting Yeung to raise the necessary funds – initially by early September and then at the start of November – but on both occasions no offer was forthcoming.

That prompted Sullivan to set a December 20 deadline for Yeung to raise the additional £35 million funds or the deal would be called off.

The uncertainty over the club’s future was a major factor in Steve Bruce deciding to move to Wigan, although that deal has hit a late snag.

Yeung has remained silent and made little in the way of public statements despite the concerns of Gold, Sullivan, Bruce, players and supporters.

But he is hoping to have some positive news in terms of being able to press ahead with the takeover once the EGM of GTI has gone ahead and formally given the thumbs-up to the first part of the takeover — the 29.9% stake he purchased five months ago.

A source close to the Birmingham board said: “The current board are adamant there will be no extension to the December 20 deadline and are waiting to see what materialises in the next couple of days. They are waiting to see if Carson Yeung will now be in a position after this EGM of Grand Top International to come up with a sound financial package which will ensure the deal can go ahead.”

Meanwhile Birmingham chairman David Gold insists the complications preventing Steve Bruce taking over at Wigan “will be solved in due course”.

Gold also confirmed Blues caretaker boss Eric Black is in the running to replace his old manager Bruce, whose unveiling at Wigan has been delayed due to negotiations with the midlands club.

“The problems will be solved in due course,” Gold said. “Eric, whom I hold in high regard, will be our manager for the game against Portsmouth (on Saturday).”

Asked whether Black is a contender for the job, Gold added: “Yes, he certainly is. If he beats Portsmouth — like we did a couple of seasons ago, 5-0 — I’m sure he will be in the running!”