Birmingham Has No ‘Immediate’ Plan to Sell Soccer-Team Control
Birmingham International Holdings Ltd. (2309), owner of the English soccer team Birmingham City, said it has “no immediate plans” to sell a controlling stake in either the club or its holding company.
“No written agreement has been reached or signed with any party in relation to the disposal of all or parts of the company’s equity interest in Birmingham City Plc and/or Birmingham City Football Club” the company said in a Hong Kong stock exchange filing yesterday.
Birmingham International said it was responding to media articles on the possible sale of the team at the request of Hong Kong’s stock exchange. It didn’t identify the publications.
The company said in February that it had been approached by a sports management company representing a group of investors interested in buying the team. Birmingham City was relegated from the elite Premier League in May 2011, a month before its largest shareholder, Carson Yeung, was arrested in Hong Kong on five counts of money laundering. He’s now on trial.
Birmingham International said last month that it expects to record a “significant” net loss for the year ended June 30, 2013. The company has delayed publication of the annual earnings to no later than Nov. 15.
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