Blues refute Seymour Pierce claims
Birmingham City are seeking to play down claims by investment bank Seymour Pierce that it could sell the club from under its owner’s nose because of unpaid fees.
The bank has won a High Court order for Blues owner Carson Yeung’s Grandtop International Holdings to pay it £2.2m before 27 May. The bank claims Yeung owes it the money as an agreed ‘success fee’ following advice it provided relating to his takeover of the club last November.
Seymour Pierce has obtained a charge over shares in the club which prevents it from paying a dividend or selling shares. Spokesman Neil Bennett said Seymour Pierce can “do what they need to do with them [the shares] to recover the money it is owed, so that means they could potentially sell them to another owner”.
But Birmingham City's parent company insists it has not lost control of the club. In a statement Birmingham International Holdings (BIH) said: "BIH has not and will not lose control of Birmingham City FC as a result of this litigation. Birmingham International Holdings stresses that the amount in dispute is immaterial to it and if payment is required to be made, will not have any material adverse effect on its financial condition or business."
