Yeung to splash the cash

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New Birmingham owner Carson Yeung has pledged to spend up to £40million on new players during the January transfer window.

Yeung made the announcement as he was officially unveiled as the new owner at St Andrew's after completing his £81.5million takeover of the club.

And the Hong Kong businessman also gave his support to Blues' manager Alex McLeish and said he would work closely with him to make City "as big as possible".

Yeung bought a 29.9% stake in Birmingham two years ago, which made him the club's largest individual shareholder.

But it has taken him until now to take complete charge after the end of the 16-year David Sullivan and David Gold era .

Yeung said: "I'm happy to be here. It has taken a long time to buy the club - but finally I have got it.

"There were problems with each other regarding communication. When I took out the original 29.9% stake, I did not say I would then buy the club 100%.

"It just depended on the right time - and now I am so happy it has all gone through."

McLeish has already spelled out his desire to bring in new players during January to help City in their fight against relegation, and Yeung is to give him substantial backing.

Asked what finances will be available to the manager, Yeung said: "My first plan is to support the club for about £20-£40million for players and wages in January."

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