What's happened to Birmingham? When they won the League Cup in 2011, I was convinced with the brand name of the city, that they would get a super stadium by the NEC and a rich owner and become a force. Now they look nowhere near, even Wolves have surpassed them.
The owner got convicted for money laundering from Wiki
In July 2007, Hong Kong businessman Carson Yeung, via the Hong Kong Stock Exchange (SEHK)-listed company Grandtop International Holdings Limited (GIH), bought 29.9% of the plc from its directors. Although his intention to take full control of the club initially came to nothing,[119] GIH completed the purchase in October 2009 at a total cost of £81.5M, re-registered the club as a private company, and renamed the holding company Birmingham International Holdings (BIH).[120][121][122]
Trading in BIH shares was suspended in June 2011 after Yeung's arrest on charges of money-laundering.[123] Publication of financial results was repeatedly delayed,[124] which led the Football League to impose a transfer embargo,[125] and offers for the club were entertained from 2012 onwards.[126] After Yeung resigned his positions with both club and company in early 2014, share trading resumed,[127] and following his conviction,[128] efforts intensified to dispose of the club, which had to be done piecemeal in order to retain BIH's share listing.[129]
Going into 2015, the Football League made public their concerns over Yeung's attempts to impose his choice of directors on the BIHL board despite his conviction disqualifying him from exerting influence over a club.[130] Relationships became increasingly factional, as illustrated by the failure of three directors, including the club's de facto chief executive Panos Pavlakis, to gain re-election, followed the next day by their reinstatement.[131] On 17 February, the board voluntarily appointed receivers from accountants Ernst & Young to take over management of the company. Their statement stressed that no winding-up petition had been issued and the company was not in liquidation.[132][133]
In June 2015, the receivers granted a two-year exclusivity period to their preferred bidder, the British Virgin Islands-registered investment vehicle Trillion Trophy Asia (TTA), wholly owned by Chinese businessman Paul Suen Cho Hung. After striking deals with the previous major shareholders such that legal action against them would be dropped in return for their agreement not to obstruct any transfer of ownership, the receivers released a document in June 2016 setting out a timescale for the company restructure, share relisting and takeover, to be completed by the end of October. It confirmed that Suen would hold 60.78% of BIH shares and the Yeung faction no more than 14%, and that the company would not be sold on within two years.[134] The process completed on 17 October, leaving TTA owning 50.64% of BIH's share capital, a level of ownership that required them to make an offer for the remainder.[4]
