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 Posted by ESPN Staff
Dec 4, 2007

Blues still hoping for significant investment

Birmingham are confident they could attract potential new buyers if Carson Yeung's proposed takeover of the midlands club fails to go through. Yeung's bid to buy out chairman David Gold and co-owner David Sullivan appears to be floundering after the Hong Kong businessman was given until December 21 to complete the transaction. Yeung's advisor Sammy Yu insisted on Monday that the deal remained on course despite the failure to show Gold and Sullivan by last Friday some proof that the funds would be raised in time. But if the takeover does collapse, Blues are optimistic other parties would make their interest known in the new year. A source close to the club said: 'Birmingham have been contacted to ask what the situation would be if Carson Yeung's buy-out does not happen. 'There were some serious enquiries made and the indications were that some very wealthy people are interested in Birmingham City.' Indian billionaire Lakshmi Mittal was linked with making a bid for Birmingham last summer before Yeung firmed up his interest by buying a 29.9% stake in the club in July at a cost of £15million. He needs to raise another £35million in the next two and a half weeks to ensure the deal is completed by the December 21 deadline. Both Sullivan and Gold have said in the last few days they would now like to remain at City although they will keep to the agreement they made with Yeung in the summer. Gold said: 'Myself and David Sullivan are honourable people and we will keep our word and honour the deal we struck with Mr Yeung.'