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‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 09:46 - Nov 19 with 1073 views
‘We never got that money’: the inside story of Bury’s road to financial ruin
We show how loans, a car park and a collapsed business helped drive Bury to the brink as a winding-up petition is adjourned
Bury’s historic 6-0 win in the 1903 FA Cup final was remembered last month when Manchester City eviscerated Watford by the same score, a jolting reminder of the gulf between these neighbouring clubs now, and what they represent about English football and modern Britain. While City have become a vehicle for Abu Dhabi oil wealth to harness the Premier League’s global power, Bury are in financial ruins, at the centre of a collapsed business which built student flats with fringe and fragile borrowings.
A winding-up petition against the club led by HMRC for unpaid tax was adjourned for a further six weeks on Wednesday, to allow time for a settlement of its debts or a sale. The owner, Steve Dale, who has complained since his takeover about the club’s dire finances, says he has paid the players to the end of March and half of April, intends to pay the rest of April’s wages this week, is planning some staff redundancies and is still bullishly vowing to avoid administration.
Dale bought the club for £1 in December from Stewart Day, a property developer who owned Bury from 2013, and subsidised the club with loans from his company, Mederco, which is now in administration.
Day told the Guardian that his property businesses were blown over by a national economic storm: high-street banks would not lend to a small company such as his, he said, so his financing relied heavily on Lendy, a “peer-to-peer” crowdfunding-type operation which is itself in administration and under investigation by the Financial Conduct Authority. Brexit chaos has further stalled bank investment and is deterring European students from coming to English universities, he said, so affecting demand for the newly built accommodation. The need since the Grenfell Tower fire to change the cladding on multi-storey buildings led to major problems for two of Day’s near-completed blocks in Huddersfield.
Gigg Lane, Bury’s home since 1885, has a mortgage on it for loans taken out during Day’s period of ownership, from a company called Capital Bridging Finance Solutions (“Capital”), based in Crosby. It has itself mortgaged the ground to a company registered in Malta, whose lenders in turn are eight companies registered in the British Virgin Islands. Dale says the loans on Gigg Lane now total £3.7m, accruing interest at almost £1,500 per day.
Amid the financial debris lies extraordinary detail about how these loans were arranged. The Guardian understands that in the contracts, Capital and Bury agreed that 40% of the money being borrowed would never come to the club. Instead, Capital paid it to an unnamed third party, as an “introduction fee”. Bury still owe in full the initial £1.6m borrowed in October 2017, and must continue to pay interest on it, but £640,000 did not go to the club; Capital paid it out as an introduction fee. A subsequent loan in February 2018, for £722,800, is understood also to have involved a 40% fee paid to a third party — £289,120.
The Guardian asked the director of Capital, Paul Dalton, who the third party was, why the fee was so high, and who the lenders were behind the BVI companies, but Dalton did not reply. Day said the 40% fees paid by Capital were in return for the loans being made, and it was “swings and roundabouts” because it enabled the interest rate to be low, at 7.5%.
“We never got that money,” he confirmed, “it was paid to people who introduced the money to Capital’s fund, like a commission — but then we had the 7.5% interest rate over five years, which was relatively cheap.”
Day took over Bury in May 2013 and at the time was seeking in his businesses to exploit the university building boom that followed the expansion of student loans and introduction of £9,000 annual fees. He came to rely heavily on Lendy, whose model — like other “peer-to-peer” lending — is to raise money for loans from multiple investors. Lendy began to suffer defaults, was put into special measures by the FCA in November 2018, and into administration in May with loans of £150m from 24,000 investors. Since Day left the club, several of his Mederco companies, building student blocks in Bradford, Huddersfield, Glasgow and Cardiff, have gone into administration owing tens of millions of pounds.
Day’s main Mederco company loaned £4.2m to Bury — to fund ongoing losses, he said — and investors, who have not seen rent they were promised, have called for it to be repaid. Mederco creditors also include people who bought car park spaces at Gigg Lane for £9,995 each, which were sold by Day and his co-director at Bury, Glenn Thomas, as “a strong investment proposition”, promising 9% net yield from annual rents for 24 years. Day said their idea was to develop facilities and host events, or build a new stadium, but the reality never rose to tally with their ambition.
Hundreds of people have lost money on student units they bought in blocks which have not been completed. Marcus Levine, a Leeds-based artist and investor in a Huddersfield scheme, said fellow investors include one terminally ill man, and another who invested the lump sum he received on early retirement. Another, Muhammad Rafiq, said he had invested his life savings of £30,000: “I have worked since I was 16, and I followed my parents’ advice to put my money into safe investments like property,” he said. “I cannot believe we stand to lose everything, because we are not secured.”
Rafiq’s MP, Sir David Amess, has made representations to the business secretary, Greg Clarke, about the Mederco collapses. Some investors have called for a Serious Fraud Office investigation into how the schemes were marketed and where the money went. Day, though, insists he has done nothing wrong and was a victim himself, principally of Lendy’s collapse.
“The last few months have been a nightmare,” he said. “I’m being highlighted because I owned a football club, but there are many developers in the same situation; you see part-built buildings everywhere. I’ve never wanted to lose anybody’s money or rip anybody off.”
Dale has consistently said the problems he inherited from Day were worse than discovered during his due diligence — Day strengthened the squad last summer and appointed Ryan Lowe as the manager, and Bury proceeded to achieve promotion from League Two with a team they literally now cannot afford to pay. But Dale has not won friends in Bury with his delays to paying staff, promise of redundancies, confrontational club statements, and his business track record selling the assets of companies in financial trouble. A public meeting addressed by James Frith, the MP for Bury North, resolved recently to support Capital putting the club into administration, thereby taking it out of Dale’s control. On Wednesday Frith tweeted his support for the adjournment, having said he had been in touch with two parties interested in buying the club, and called on Dale to sell.
Dominic Martinez, who with a small group of supporters has tried to sound the alarm for years about Bury’s financial state, says it is distressing to see them in such straits again.
“This is a cautionary tale, for Bury and other smaller clubs,” he said. “We can’t live beyond our means and rely on some benefactor to fund it; we are seeing the risks again now.”
Bury plunged into administration in 2002, as did many other Football League clubs, and donors worldwide gave money in return for having their names sentimentally affixed to the backs of seats. The name tags have long since faded at Gigg Lane, and perhaps the lessons too, and now the buckets are being rattled all over again.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 13:31 - Nov 21 with 1057 views
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 18:57 - Nov 21 with 1053 views
Other Dodgy Owners on 18:57 - Nov 21 by spell_chekker
Newcastle's owners are top of the list.
No thanks.
Slightly different, dodgy sponsors
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 08:30 - Dec 21 with 1021 views
So it turns out the chap that has banned those Oldham fans for criticising the owner worked at Blackpool under the Oystons between 2013 and 2015...https://t.co/EGmKAkvgE2
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 06:57 - Dec 24 with 1008 views
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 10:30 - Jan 27 with 944 views
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 12:50 - Feb 16 with 901 views
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 23:23 - Feb 16 with 892 views
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 20:08 - Mar 3 with 879 views
Amanda Staveley: Newcastle co-owner says unfair Chelsea's Roman Abramovich has to sell
Newcastle co-owner Amanda Staveley says she "doesn't think it's particularly fair" that Roman Abramovich has decided to sell Chelsea following Russia's invasion of Ukraine.
Chelsea have won 17 major trophies since Russian billionaire Abramovich bought the club in 2003, but he announced on Wednesday that he was planning to sell.
Abramovich, 55, has faced calls from politicians for him to be sanctioned as he is alleged to have strong ties to Russian president Vladimir Putin, which he has denied.
Staveley, speaking at the Financial Times Business of Football Summit, also faced questions about Newcastle's relationship with Saudi Arabia, following the club's Saudi-backed takeover.
She said: "We're always going to have geopolitical issues.
"I'm really sad that someone is going to have a football club taken away because of a relationship he may have with someone.
"I don't think that's particularly fair to be honest. But we do have to hold all of our relationships to account."
Staveley reiterated that the Saudi Public Investment Fund, which owns 80% of Newcastle, was "separate" from the Saudi state, which has been accused of human rights abuses.
October's £305m takeover was subject to Newcastle providing "legally binding assurances" to the Premier League that the state would not control the club.
"We should always be held to task," she added. "One thing we showed when doing the Premier League [ownership] test was that there was that separation. We and the PIF run the club with autonomy."
Staveley, who owns 10% of Newcastle shares but admitted in High Court documents to borrowing £30.5m from fellow co-owners the Reuben brothers, also said she had looked at buying Chelsea before setting up a consortium to buy Newcastle.
"One great thing about taking four years to buy Newcastle is we had a great opportunity to look at every club, including Chelsea," she said. "Chelsea is a wonderful club, but there was only one club for us and will only ever be one club for us.
"We like the challenge of buying a club at 20th position [in the league] and getting it to the top."
Meanwhile, Staveley and her husband and business partner Mehrdad Ghodoussi are the subject of a High Court claim by former Newcastle owner Mike Ashley, who says she breached the terms of a £10m loan by criticising his tenure at the club.
A spokesperson has said they are "confident" of defending the claims.
The allegation centres around comments she made about "looking forward" to removing signs advertising Ashley's company Sports Direct at St James' Park and being "slightly frustrated" about being unable to take a picture without the signs in view.
Those signs were removed in December, two months after the takeover, which pleased fans who thought it was a hangover from the previous regime.
Asked about the case, Staveley added: "We have filed a defence. We are big fans of his and fans of Sports Direct, but we want to see something different for Newcastle.
"If Sports Direct came and said we want to pay you tens of millions of pounds, we would be delighted to speak to Mike. It's about revenue. It's a difficult challenging time.
"Mike had run the club efficiently. We arrived and had a different business model to turn it into a global club and brand. We want to challenge for trophies and that needs investment."
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 12:50 - Mar 4 with 876 views
Amanda Staveley: Newcastle co-owner says unfair Chelsea's Roman Abramovich has to sell
Newcastle co-owner Amanda Staveley says she "doesn't think it's particularly fair" that Roman Abramovich has decided to sell Chelsea following Russia's invasion of Ukraine.
Chelsea have won 17 major trophies since Russian billionaire Abramovich bought the club in 2003, but he announced on Wednesday that he was planning to sell.
Abramovich, 55, has faced calls from politicians for him to be sanctioned as he is alleged to have strong ties to Russian president Vladimir Putin, which he has denied.
Staveley, speaking at the Financial Times Business of Football Summit, also faced questions about Newcastle's relationship with Saudi Arabia, following the club's Saudi-backed takeover.
She said: "We're always going to have geopolitical issues.
"I'm really sad that someone is going to have a football club taken away because of a relationship he may have with someone.
"I don't think that's particularly fair to be honest. But we do have to hold all of our relationships to account."
Staveley reiterated that the Saudi Public Investment Fund, which owns 80% of Newcastle, was "separate" from the Saudi state, which has been accused of human rights abuses.
October's £305m takeover was subject to Newcastle providing "legally binding assurances" to the Premier League that the state would not control the club.
"We should always be held to task," she added. "One thing we showed when doing the Premier League [ownership] test was that there was that separation. We and the PIF run the club with autonomy."
Staveley, who owns 10% of Newcastle shares but admitted in High Court documents to borrowing £30.5m from fellow co-owners the Reuben brothers, also said she had looked at buying Chelsea before setting up a consortium to buy Newcastle.
"One great thing about taking four years to buy Newcastle is we had a great opportunity to look at every club, including Chelsea," she said. "Chelsea is a wonderful club, but there was only one club for us and will only ever be one club for us.
"We like the challenge of buying a club at 20th position [in the league] and getting it to the top."
Meanwhile, Staveley and her husband and business partner Mehrdad Ghodoussi are the subject of a High Court claim by former Newcastle owner Mike Ashley, who says she breached the terms of a £10m loan by criticising his tenure at the club.
A spokesperson has said they are "confident" of defending the claims.
The allegation centres around comments she made about "looking forward" to removing signs advertising Ashley's company Sports Direct at St James' Park and being "slightly frustrated" about being unable to take a picture without the signs in view.
Those signs were removed in December, two months after the takeover, which pleased fans who thought it was a hangover from the previous regime.
Asked about the case, Staveley added: "We have filed a defence. We are big fans of his and fans of Sports Direct, but we want to see something different for Newcastle.
"If Sports Direct came and said we want to pay you tens of millions of pounds, we would be delighted to speak to Mike. It's about revenue. It's a difficult challenging time.
"Mike had run the club efficiently. We arrived and had a different business model to turn it into a global club and brand. We want to challenge for trophies and that needs investment."
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 18:52 - Apr 27 with 843 views
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 14:14 - May 16 with 814 views
NEWCASTLE UNITED 2022/23 AWAY KIT WILL RESEMBLE SAUDI ARABIA COLOURS AND STRIP
Newcastle United have caused controversy after revealing their 2022/23 away kit. The designers have crafted a Saudi Arabia-inspired jersey in a move that will shock football fans.
Earlier this season, to the delight of ‘Magpies’ supporters, Mike Ashley’s spell of ownership came to an end. But after he decided to leave, in stepped new bosses who’ve brought even more controversy. To fans who simply care about the state of the club, Public Investment Fund’s takeover likely filled them with joy.
With a new worth of £320 billion according to ESPN, Newcastle have become the richest team on the planet. However, amid all the human rights violations in Saudi Arabia, many view the move as clear sportswashing.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 10:34 - Jun 14 with 784 views
NEWCASTLE UNITED 2022/23 AWAY KIT WILL RESEMBLE SAUDI ARABIA COLOURS AND STRIP
Newcastle United have caused controversy after revealing their 2022/23 away kit. The designers have crafted a Saudi Arabia-inspired jersey in a move that will shock football fans.
Earlier this season, to the delight of ‘Magpies’ supporters, Mike Ashley’s spell of ownership came to an end. But after he decided to leave, in stepped new bosses who’ve brought even more controversy. To fans who simply care about the state of the club, Public Investment Fund’s takeover likely filled them with joy.
With a new worth of £320 billion according to ESPN, Newcastle have become the richest team on the planet. However, amid all the human rights violations in Saudi Arabia, many view the move as clear sportswashing.
DEAL WITH DEVIL Birmingham on brink of £35m takeover as controversial ex-Watford chief Laurence Bassini claims to have struck deal
BIRMINGHAM CITY are on the brink of a £35million buy-out, with controversial former Watford owner Laurence Bassini claiming to have struck a deal for the Championship club.
Bassini, 52, says he has exchanged contracts on a deal to buy Blues with a takeover due within days.
A key part of his blueprint would be to secure full ownership in two years and includes bringing the club's St Andrew's home back to its former glories.
Bassini wants to push ahead with urgent upgrades of the lower tiers of the Kop and Tilton Road stands.
This isn't the first time the ex-Watford chief has tried to buy Birmingham, after he failed in an attempt to purchase Blues in 2021.
He renewed his interest towards the end of last season and has been secretly negotiating through intermediaries with the club’s Chinese owners since then
Bassini says he has no ambitions to become a director or chairman but as owner will appoint a board of ‘very experienced footballing people,’ to run the club on his behalf.
He also plans to upgrade the club's Wast Hills training base and push for the academy to quickly regain its Category One status.
Blues have been owned by Hong Kong-based parent company Birmingham Sports Holdings since October 2016.
However, fans alarmed by the club's slump in fortunes, have staged several high-profile protests to highlight the way they feel the club has been mismanaged by absent owners.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 21:21 - Jun 25 with 754 views
DEAL WITH DEVIL Birmingham on brink of £35m takeover as controversial ex-Watford chief Laurence Bassini claims to have struck deal
BIRMINGHAM CITY are on the brink of a £35million buy-out, with controversial former Watford owner Laurence Bassini claiming to have struck a deal for the Championship club.
Bassini, 52, says he has exchanged contracts on a deal to buy Blues with a takeover due within days.
A key part of his blueprint would be to secure full ownership in two years and includes bringing the club's St Andrew's home back to its former glories.
Bassini wants to push ahead with urgent upgrades of the lower tiers of the Kop and Tilton Road stands.
This isn't the first time the ex-Watford chief has tried to buy Birmingham, after he failed in an attempt to purchase Blues in 2021.
He renewed his interest towards the end of last season and has been secretly negotiating through intermediaries with the club’s Chinese owners since then
Bassini says he has no ambitions to become a director or chairman but as owner will appoint a board of ‘very experienced footballing people,’ to run the club on his behalf.
He also plans to upgrade the club's Wast Hills training base and push for the academy to quickly regain its Category One status.
Blues have been owned by Hong Kong-based parent company Birmingham Sports Holdings since October 2016.
However, fans alarmed by the club's slump in fortunes, have staged several high-profile protests to highlight the way they feel the club has been mismanaged by absent owners.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 17:21 - Jun 30 with 733 views
West Bromwich Albion owner Guochuan Lai took £4.95m company loan from club
Championship club West Brom gave a loan of £4.95m to a company owned by chairman and owner Guochuan Lai to help it through the coronavirus pandemic.
The details of the loan are contained in West Brom's accounts to June 2021, released on Thursday.
Lai says he will return the money, with £50,000 interest, by 31 December 2022 after the initial repayment date was moved from 15 September.
"I will repay the loan in full," he told the club website.
The news will come as a shock to West Brom fans as it took money out of the club that could have been used for transfers both last summer and this, as the club tries to return to the Premier League.
"The club's annual accounts for the 2020-21 season detail a loan to Wisdom Smart Corporation Limited, a related party to me. Regrettably, the Covid-19 pandemic saw my international businesses suffer, particularly those in the hospitality and entertainment sector, which experienced an almost complete closure for long periods, and in March 2021 I received a loan from the football club," said Lai.
"The upturn in the global economy has brought with it greater positivity and I can confirm I will repay the loan in full, with interest, by the end of the current calendar year and the funds will be available to the club during the January 2023 transfer window.
"I remain committed to returning the football club to the Premier League and I am confident we will be able to compete for promotion from the Championship this coming season."
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 20:46 - Jul 8 with 714 views
West Bromwich Albion owner Guochuan Lai took £4.95m company loan from club
Championship club West Brom gave a loan of £4.95m to a company owned by chairman and owner Guochuan Lai to help it through the coronavirus pandemic.
The details of the loan are contained in West Brom's accounts to June 2021, released on Thursday.
Lai says he will return the money, with £50,000 interest, by 31 December 2022 after the initial repayment date was moved from 15 September.
"I will repay the loan in full," he told the club website.
The news will come as a shock to West Brom fans as it took money out of the club that could have been used for transfers both last summer and this, as the club tries to return to the Premier League.
"The club's annual accounts for the 2020-21 season detail a loan to Wisdom Smart Corporation Limited, a related party to me. Regrettably, the Covid-19 pandemic saw my international businesses suffer, particularly those in the hospitality and entertainment sector, which experienced an almost complete closure for long periods, and in March 2021 I received a loan from the football club," said Lai.
"The upturn in the global economy has brought with it greater positivity and I can confirm I will repay the loan in full, with interest, by the end of the current calendar year and the funds will be available to the club during the January 2023 transfer window.
"I remain committed to returning the football club to the Premier League and I am confident we will be able to compete for promotion from the Championship this coming season."
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 17:30 - Jul 9 with 693 views
The English Football League said it is still to receive any information about a potential takeover at Championship club Birmingham City.
Former Watford owner Laurence Bassini told BBC Sport last month that a deal to buy the club was in its last stages and would be completed "within days".
That has not materialised, nor has the involvement of West Ham United co-owner and ex-Blues co- owner David Sullivan.
Bassini has said in various interviews that Sullivan was part of the deal.
Bassini gave his latest interview to TalkSport on Friday in which he repeated his claims, adding that he was going to 'win the league'.
He has previously told BBC Sport that he will not engage with the EFL as he is distrustful of it because of its dealings around his attempt to buy Bolton.
However, the owners' and directors' test requires any owner to submit to it, even if they are not actively running the club. So far, that has not happened.
An EFL spokesperson said: "Further to speculation in the media, the EFL wishes to clarify that it is not currently in receipt of documentation from any individual regarding acquisition of control at Birmingham City.
"All clubs are aware of the requirements under EFL regulations for prior approval."
Blues are currently Chinese-owned, by Birmingham Sports Holdings Limited - their second successive Asian-based ownership - who have been in place since 2016.
Who owns Birmingham City? Blues were owned from 1993 for 26 years by David Sullivan and the Gold brothers, David and Ralph, with Karren Brady as managing director.
But any new owners now would be the third since the Golds and Sullivan sold out to Hong Kong-based Carson Yeung in October 2009 for £81.5m, prior to becoming the owners of West Ham United.
Yeung handed over the reins in 2016 to new Chinese owners, then fronted by Trillion Trophy Asia, part of Birmingham Sports Holdings Limited, after being sentenced in March 2014 to six years in prison on five counts of money laundering.
But Birmingham Sports Holdings Limited director Edward Zheng told BBC Radio WM in February, following the latest in a series of fan protests at the way Blues were being run, that they had no intention of selling the Championship club.
What state are the club in? Like all clubs, Blues have suffered from restricted revenue over the last two years because of the Covid pandemic.
The club banked an appreciable amount from the sale of teenager Jude Bellingham to Borussia Dortmund in July 2020, a deal that could ultimately be worth in advance of £30m.
But that came on the back of incurring losses of nearly £48.8m between 2015 and 2018 - almost £10m more than the accepted adjusted losses of £39m, which broke the EFL's profitability and sustainability rules and led to a nine-point deduction.
In their 11th consecutive season at second-tier level following relegation from the Premier League, Blues finished 20th in the Championship last season.
They won just four times from November onwards in 26 league matches - and they would have finished lower, but for relegated Derby County's 21-point deduction.
As it was, they finished 10 points clear of trouble but, had it not also been for Reading's six-point penalty, on top of Derby's, they would have stayed up only on goal difference.
The club also have an ongoing issue with the repairs and potential reopening of the lower tiers of the Kop and Tilton Road stands, which were closed throughout the whole of last season and have again been delayed by the ongoing takeover talk.
Blues start the new Championship season at Luton on 30 July.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 08:59 - Jul 23 with 684 views
The English Football League said it is still to receive any information about a potential takeover at Championship club Birmingham City.
Former Watford owner Laurence Bassini told BBC Sport last month that a deal to buy the club was in its last stages and would be completed "within days".
That has not materialised, nor has the involvement of West Ham United co-owner and ex-Blues co- owner David Sullivan.
Bassini has said in various interviews that Sullivan was part of the deal.
Bassini gave his latest interview to TalkSport on Friday in which he repeated his claims, adding that he was going to 'win the league'.
He has previously told BBC Sport that he will not engage with the EFL as he is distrustful of it because of its dealings around his attempt to buy Bolton.
However, the owners' and directors' test requires any owner to submit to it, even if they are not actively running the club. So far, that has not happened.
An EFL spokesperson said: "Further to speculation in the media, the EFL wishes to clarify that it is not currently in receipt of documentation from any individual regarding acquisition of control at Birmingham City.
"All clubs are aware of the requirements under EFL regulations for prior approval."
Blues are currently Chinese-owned, by Birmingham Sports Holdings Limited - their second successive Asian-based ownership - who have been in place since 2016.
Who owns Birmingham City? Blues were owned from 1993 for 26 years by David Sullivan and the Gold brothers, David and Ralph, with Karren Brady as managing director.
But any new owners now would be the third since the Golds and Sullivan sold out to Hong Kong-based Carson Yeung in October 2009 for £81.5m, prior to becoming the owners of West Ham United.
Yeung handed over the reins in 2016 to new Chinese owners, then fronted by Trillion Trophy Asia, part of Birmingham Sports Holdings Limited, after being sentenced in March 2014 to six years in prison on five counts of money laundering.
But Birmingham Sports Holdings Limited director Edward Zheng told BBC Radio WM in February, following the latest in a series of fan protests at the way Blues were being run, that they had no intention of selling the Championship club.
What state are the club in? Like all clubs, Blues have suffered from restricted revenue over the last two years because of the Covid pandemic.
The club banked an appreciable amount from the sale of teenager Jude Bellingham to Borussia Dortmund in July 2020, a deal that could ultimately be worth in advance of £30m.
But that came on the back of incurring losses of nearly £48.8m between 2015 and 2018 - almost £10m more than the accepted adjusted losses of £39m, which broke the EFL's profitability and sustainability rules and led to a nine-point deduction.
In their 11th consecutive season at second-tier level following relegation from the Premier League, Blues finished 20th in the Championship last season.
They won just four times from November onwards in 26 league matches - and they would have finished lower, but for relegated Derby County's 21-point deduction.
As it was, they finished 10 points clear of trouble but, had it not also been for Reading's six-point penalty, on top of Derby's, they would have stayed up only on goal difference.
The club also have an ongoing issue with the repairs and potential reopening of the lower tiers of the Kop and Tilton Road stands, which were closed throughout the whole of last season and have again been delayed by the ongoing takeover talk.
Blues start the new Championship season at Luton on 30 July.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 07:16 - Aug 22 with 665 views
As you will have seen from the statement issued yesterday, we have parted company with Robbie Stockdale and Jimmy Shan and I would like to take this opportunity to thank them for their services.
It is with great sadness that they have left the club and a lot of thanks goes to them for all the hard work they’ve put into the club over the past year, especially at a time of transition to a fan-owned, fan-led club, something that they wholly embraced and bought into.
It wasn’t an easy decision for the board to make because Robbie and Jimmy are good people, but we felt from a football perspective that we wanted to be decisive and make a change now.
The recruitment process for a new manager started yesterday evening and we would like to make an appointment as quickly as possible. However, we want to make the right appointment.
We are fortunate that within the building we have a very capable person in Jim McNulty and he will be taking charge of the team on an interim basis. I know Jim’s personality and he’ll thoroughly relish the challenge, as well as enjoying it.
I know Jim is a very popular character around the club and with supporters, and I ask those travelling to Swindon tomorrow to wish him all the best and get behind the players as we look to start turning around our results.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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Other Dodgy Owners on 22:11 - Sep 26 with 641 views
As you will have seen from the statement issued yesterday, we have parted company with Robbie Stockdale and Jimmy Shan and I would like to take this opportunity to thank them for their services.
It is with great sadness that they have left the club and a lot of thanks goes to them for all the hard work they’ve put into the club over the past year, especially at a time of transition to a fan-owned, fan-led club, something that they wholly embraced and bought into.
It wasn’t an easy decision for the board to make because Robbie and Jimmy are good people, but we felt from a football perspective that we wanted to be decisive and make a change now.
The recruitment process for a new manager started yesterday evening and we would like to make an appointment as quickly as possible. However, we want to make the right appointment.
We are fortunate that within the building we have a very capable person in Jim McNulty and he will be taking charge of the team on an interim basis. I know Jim’s personality and he’ll thoroughly relish the challenge, as well as enjoying it.
I know Jim is a very popular character around the club and with supporters, and I ask those travelling to Swindon tomorrow to wish him all the best and get behind the players as we look to start turning around our results.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
0
Other Dodgy Owners on 12:48 - Oct 8 with 624 views
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
0
Other Dodgy Owners on 17:23 - Nov 17 with 590 views
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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