Pannu seeks to calm fans' fears

Published Add your comment

Football News

Acting chairman Peter Pannu has played down fears of a financial crisis at Birmingham but admits players on Premier League wages will have to be off-loaded.

Pannu had claimed that "unpopular decisions" will have to be made when he returns from the Far East in the middle of next week. Now Pannu has acted to calm fears of supporters over the club's financial position after leading share-holder Carson Yeung's assets were frozen in Hong Kong after he was charged with money laundering.

"I wish to make it clear that, whilst the benefactor's legal wrangles do pose some problems, we have sufficient contingency plans to cater for the temporary difficulties thrown at us," Pannu told

"Our bankers (HSBC) have been very supportive and we currently still stand in a positive credit balance with them."

Pannu added: "When we talk about offloading players, we will consider players on Premier League wages as this is not a sustainable scenario for an npower Championship club.

"Clubs need to adjust to the new environment, particularly when the Football League has endorsed the practices of UEFA's Financial Fair Play Rules.

"Whilst in an ideal world we would wish to retain all of our star players, it is not realistic to do so.

"The club is happy to entertain their requests to play Premier League football but only if it also fits into our financial strategy.

"I wish to assure supporters that what we are addressing is no more and no less than what a prudently managed club would do."

Blues have already sold Roger Johnson, Craig Gardner and Barry Ferguson from last season's first team.

Copyright (c) PA Sport 2009, All Rights Reserved.

Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE:

Roger Johnson
Premier League
Barry Ferguson
Craig Gardner

Article Comments

Read more

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author


This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again

Like our GiveMeSport Page and you will get this directly to you.

Already Subscribed to G+, don't ask me again