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50-50: Liverpool vs. Real Madrid

Champions League 15 hours ago
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By ESPN Staff
Nov 26, 2007

Gold hits back in takeover row

Birmingham chairman David Gold has hit out at comments from prospective new owner Carson Yeung's representative suggesting the current board are jeopardising the £50million takeover of the club.

Gold and co-owner David Sullivan have given Yeung until December 20 to complete the deal otherwise they will pull out - even though the Hong Kong businessman already has a 29.9% stake in Blues.

The City duo are running out of patience only for Yeung's aide Sammy Yu to insist Sullivan and Gold were the problem and that the takeover could go ahead by the specified deadline.

But Gold believes the chances of Yeung completing his buy-out of Birmingham are 'diminishing'.

'Although we have to be careful, because it was one of Mr Yeung's aides speaking, I am saying that Sammy Yu's comments were inappropriate and very upsetting,' he said.

'Myself, David Sullivan and Karren Brady (managing director) have worked very hard under extreme difficulties to deal with the problems that are coming up.

'You've got to remember we are putting Birmingham City before everything else and working on the basis that we are here for the foreseeable future.

'People say we are in crisis. We are not in crisis. We are in change.

'We will have to wait and see emerges over the next few weeks. We have given our word. There will be no extension to that deadline to Mr Yeung.

'I believe the chances (of the takeover) are diminishing. If they can't fulfil their promises, we will go back to the way it was before.'