David Gold's future under the new regime at Birmingham City has been thrown into doubt
Oct 7 2009 by Colin Tattum, Birmingham Mail
David Gold
Another stumbling block to Gold remaining to help the transition between old and new owners has been the probable extent of his powers, and title.
Yeung has lined up Vico Hui, the chief executive officer of Grandtop, as Blues chairman with Gold earmarked for a vice-president role.
Gold would not want his responsibilities diluted but having sold his 13 per cent stake in Blues for £10.6 million, Yeung holds all the aces.
Gold sits on various committees and councils as chairman of a Premier League club, notably the FA Council and FA Cup Committee.
The club’s response document also revealed that Gold, through Gold Group International, is paid £140,000 a year, plus expenses, and that deal terminates immediately upon him ceasing to be a Blues director.
Gold became Blues’ chairman in July 1997 after Jack Wiseman stepped down to become vice-chairman.
He admitted: “I’m not fond of ambassadorial roles. I like to be active, I’ve been chairman of the football club for the last 12 years and I think I’ve got a lot to offer the new regime.”
Gold’s brother, Ralph, David Sullivan, Brady and finance director Roger Bannister all confirmed they would leave Blues once Yeung’s offer became unconditional.
It did so yesterday as by the 1pm first closing deadline Grandtop had acquired 76,620,136 shares, 94 per cent of the stock.
It brought to an end 16-and-a-half years at Blues for the Sullivan-Gold-Brady axis.
Through his firm Roldvale, Sullivan took the club from the Receivers for around £700,000.
He has made £20 million from the sale of his 24.4 per cent shareholding in the club, Ralph Gold £10.2 million from his 12.5 per cent.
In 2007, Sullivan and the Golds sold Yeung a 29.9 per cent slice of Blues, earning £15 million between them.
