Football

Birmingham owners stand firm

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Birmingham's owners insist they will not lose control of the club as a result of an ongoing payment dispute with an investment bank.

Birmingham International Holdings (BIH), which own the Barclays Premier League club, are seeking leave to appeal against a court order which demands that they pay Seymour Pierce a £2.2million "success fee" for laying the groundwork for Hong Kong businessman Carson Yeung's takeover of the club. The money had been due to be received by Seymour Pierce on Monday but with that deadline now passed, the bank can now gain a charge of the shares held by BIH.

A club statement read: "Birmingham International Holdings Limited acknowledges that it has been in litigation with Seymour Pierce disputing the payment of fees and that summary judgment had been obtained by Seymour Pierce in relation thereto."

The statement continued: "Birmingham International Holdings Limited is currently seeking leave to appeal the decision.

"Birmingham International Holdings Limited stresses that the amount in dispute is immaterial to it and if payment is required to be made, will not have any material adverse effect on its financial condition or business.

"It is stressed that Birmingham International Holdings Limited has not and will not lose control of Birmingham City Football Club as a result of this litigation."

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Topics:
Football
Premier League
Birmingham

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