David Gold: Birmingham City still seeking a mega-rich backer
Apr 25 2009 by Colin Tattum, Birmingham Mail
DAVID Gold has admitted that Blues are still on the hunt for mega-rich backers.
And the chairman said that, should Blues win promotion back to the Premier League today, it would help to that end.
Carson Yeung, on the other hand, remains unlikely to ‘put a penny in’, claimed Gold.
“We are actively seeking investors,” said Gold. “That is something we do all the time. And that’s why it’s so important to be in the Premier League. Investors come in, and big sponsors, when you are successful.
“We are an iconic club. This is the biggest city-named club in the country. There’s no club called London.
“We’re in a recession so, no, you’re not going to get people queueing up to invest in the club at this time.
“But in due course this will all change and you will see the big people, the big spenders, the big investors coming back once the recession is over.
“And Birmingham City, provided we get promoted, should be an attraction.”
Read Colin Tattum's web chat with fans
The season in review - follow the season via our timeline
Preston North End again: Read Colin Tattum's blog
Gold, speaking at a fans forum at the Weoley Castle Working Men’s Club in conjunction with Foster’s, was not effectively putting Blues up for sale.
He said both he and partner David Sullivan were happy and committed, but would welcome extra financial muscle.
“The more wealthy people we can have at the football club, to support that club and take it forward, the better,” he continued. “I would say we would be happy to dilute our shareholding if we could push Birmingham City up there alongside Manchester City.
“Manchester City were in danger of relegation a while back. They hung in there. Then we know what happened.
“If there’s a big player out there, he will say ‘hey, I want to be in the Premier League’.
“He will look but he can’t buy Arsenal... nine clubs are just not available for sale, and if you include the clubs that will never be available for sale, like Wigan, or those nobody wants to buy, then Birmingham suddenly fill that slot and in comes a big player. That’s what you hope.”
As for Yeung, whose aborted attempt to purchase Blues caused mayhem last season, he remained very much dormant.
Although he has a 29.9 per cent stake in Blues, he is not on the board and has no decision-making power.
Gold said: “He’s not going to put a penny in. We had to pledge – David Sullivan and I – a couple of weeks ago £2 million each just to see us through to the next parachute payment.
“Carson Yeung was contacted and asked ‘look, there’s a £4 million shortfall, would you be putting in your third?’ and we never even heard from him.
“So the answer is that, he’s not there, he’s not available. Whether he re-emerges in the future, who knows.
“You would like to think – I would like to think – that he will say ‘OK, I’m a shareholder, I’m going to put in money as a loan, a gift’, just to support the football club, as a sponsor.
“But no. And I wouldn’t think that is likely to change.”
