Hedge Fund Manager Wagner to Acquire Birmingham City Stake
- Hong Kong-listed firm, other shareholders to sell 45.6% stake
- Company will receive $6.7 million, payments for promotion
The Chinese owners of Birmingham City Football Club have agreed to sell their shares to US hedge fund manager Tom Wagner.
Chinese investor Paul Suen’s Hong Kong-listed Birmingham Sports Holdings Ltd. will transfer its 24% stake in the Championship tier club’s owner to Shelby Companies Ltd., an entity managed by Wagner, according to a club press release confirming a Bloomberg News report. Co-owners Oriental Rainbow Investments and Achiever Global Group also agreed to transfer an additional 21.64% to Wagner, as well as St. Andrew’s stadium, and all loans owed to them by the organization, according to a Birmingham Sports exchange filing.