Birmingham City ex-owner David Sullivan thanks police for clearing his name over club sale
DAVID Sullivan has thanked police for clearing his and David Gold’s names over allegations of financial wrongdoing before the sale of Birmingham City to Carson Yeung.
And the former Blues chief accused Yeung of “sour grapes” for dragging detectives into their bitter spat.
Yeung appointed a specialist team of accountants to go through the Blues books after buying the club from majority shareholders Sullivan, David Gold and Ralph Gold in an £81.5 million deal.
His people contacted the West Midlands Police Economic Crime Team and presented documents asking them to look into what were described as “financial irregularities”.
The police issued a statement on Friday ruling out any criminal investigation.
Sullivan said: “I am very grateful for the way West Midlands Police has looked into this matter with speed and efficiency.
“There can be no allegation of wrongdoing. Birmingham City was a Plc, run by professionals and properly audited.
“If Mr Yeung and co have any issues they should deal directly with us, and not through the press or through the police, who have enough to do investigating serious crimes.
“The detectives have been dragged into what I can only imagine was a case of sour grapes. I can only thank the West Midlands force for going about this so professionally.”
Blues said in a statement: "Mr Sullivan does not understand the purpose of reporting to the police.
"It has nothing to do with the price paid for the club but rather the way it was managed.
"Due diligence is proceeding and this is really the first episode. A detailed investigative report will be prepared and released to the fans as the new management wants transparency and open and responsible administration of the club."
The statement said police were not being inconvenienced and the club had a "wonderful relationship" with the local force.
It continued: "A number of questionable areas are still being looked at and we have been advised not to comment any further.
"Mr Sullivan and co’s returning of the club’s vehicle is appreciated and his further offer to return money to the club and to settle is also being considered by Mr Yeung.
"It is our door which is open and his offers favourably received and considered.
"If Mr Sullivan can leave the club and the fans alone as the new management proceeds to put the club on the right track, that would be greatly appreciated.
"Once we have put the club in order, he can continue to claim credit and say it was his legacy.
"But for now, let us clean the house."
Peter Pannu, Blues vice-chairman executive and finance, led the initial post-acquisition due diligence.
The new Blues regime said they had discovered liabilities totalling a possible £11 million left by Sullivan, the Golds and Karren Brady and asked police to look into this and other matters.
They also were angered by a £1 million plus pay-off to Brady and £420,000 in management consultancy fees Sullivan and David Gold advanced themselves before their 16-year tenure at St Andrew’s came to an end.
