Birmingham City ownership: Carson Yeung has no plans to sell

May 16 2009 by Andy Walker, Birmingham Mail

CARSON Yeung’s camp have insisted they have no intention of selling their shares in Blues.

Since the debacle that surrounded Yeung’s unsuccessful buy-out of the club almost 17 months ago, and the Hong Kong businessman’s failure to get a representative on the Blues board, all has been quiet from the Far East.

Yeung is still Blues’ largest single shareholder but it had been expected he would cut his losses and sell his 29.9 per cent stake having failed in his bid to assume more control at St Andrew’s.

However, according to Yeung’s right-hand man Sammy Yu, selling up would only be an option if they received a “ridiculous” price.

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The share price of Grandtop International Holdings Limited, the company Yeung used as a takeover vehicle, has almost doubled on the Hong Kong Stock Exchange since Blues clinched promotion to the Premier League.

Yu now insists that Yeung and his team plan to sit down in the next seven to ten days where they will decide whether to continue as a silent partner or offer an olive branch to the Blues hierarchy.

“We have not yet had chance to talk about Birmingham City because we have been very busy,” said Yu. “However, we will meet soon to decide what we are going to do, there has been no decision yet.

“We have a few options but I don’t think selling the shares is on our agenda. Of course if somebody gives us a ridiculous price then maybe, but that is unlikely.