Birmingham City confirm Carson Yeung has approached club
A ‘10-point pledge’ designed to win back the faithful and improve the St Andrew’s ground was launched and manager Alex McLeish was given funds to bring in nine new players.
Interestingly, the spending on the team has now stalled and £5 million in loans, to help with player purchases and the upgrade of the ground, have now been repaid to Sullivan and the Golds.
The way would also be clear for Yeung now that the City of London Police investigation into tax issues came to nought, lifting a huge cloud that had been hovering over Sullivan and Brady.
Sullivan owns 23 per cent of Blues shares, David Gold around 13 per cent and Ralph Gold 12 per cent.
The moment Yeung takes his shareholding beyond 30 per cent, he is duty bound to launch a full takeover.
In July 2007, Sullivan and the Golds - David and Ralph’s shareholding was then combined - sold 14 per cent of their stake to Yeung for £15 million and gave him until the December to complete a takeover.
The uncertainty contributed to manager Steve Bruce’s departure to Wigan Athletic in the November and McLeish was appointed as his successor.
If Yeung did take charge at Blues, it would be unlikely that Sullivan, the Golds or Brady would be kept on in the long term.
Sullivan and the Golds would act ‘in concert’ and all sell their individual shareholdings; David Gold would not join forces with Yeung, although he might be keen on an ambassadorial type role.
And McLeish would naturally fear for his future as Yeung, who counts Steve McManaman as his football advisor, could want his own man in the dug out.
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