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Alarm bells sounding for Everton

Everton
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By ESPN Staff

Yeung camp defiant over Brum takeover delay

One of Carson Yeung's top advisors has defended the delay over their takeover bid for Birmingham, insisting: 'It is not like we are buying a television set.'

The Hong Kong businessman and his associates cannot understand why Birmingham's co-owners David Sullivan and David Gold are being 'so negative' about the chances of him completing his buyout of the Premier League club.

Yeung has until December 20 to acquire a controlling stake, but Sullivan and Gold both now say there is only a 10% chance of the deal being completed and are preparing to continue running the club as before.

Gold insists they have had no contact from Yeung since he attended the club's home league clash with Wigan on October 27 and even then it was 'very brief'.

But Sammy Yu, the chief operating officer of Grandtop International, the company through which Yeung intends to buy the club, was bemused by the board's stance.

'We don't know why (Gold and Sullivan) are being so negative,' he said.

'This kind of news does not help the cause. We hope that all parties will stay cool and work together.

'We want to complete the takeover in a manner that will be best for everyone involved. After all, it is not like we are buying a television set.

'We have already taken a 29.9% stake in the club (in July) with real cash, it was not for a joke,' Yu told the South China Morning Post.

The delay in completing the takeover has been cited as the main reason for Steve Bruce's departure to Wigan after Yeung and his associates refused to discuss a new contract for the club's manager of six years' standing.

However, Yu refuted accusations that the proposed takeover had destabilised the club.

'The stake we have already bought shows our intent. It is not small money. The club should be more stable, not less.'

Birmingham chairman Gold has admitted he would be 'thrilled and delighted' if Yeung's bid collapses.