The takeover of Birmingham City by Trillion Trophy Asia has at last been completed after a 16 month process. It ends the seven year period of ownership of Carson Yeung who was jailed for money laundering in 2014. The deal values the club at £12.3m.
The takeover of Birmingham City by Trillion Trophy Asia has at last been completed after a 16 month process. It ends the seven year period of ownership of Carson Yeung who was jailed for money laundering in 2014. The deal values the club at £12.3m.
TTA is registered in the British Virgin Islands and is controlled by Hong Kong businessman Paul Suen. He is currently an executive director and chairman of Enviro Energy, he also holds 9.89% of the issued share capital in China Strategic – both of which are listed on the HKSE. Mr. Suen is also indirectly holding approximately 22.89% of the issued share capital of Courage Marine Group Limited.
The level of investment the new owners intend to put in to the club is uncertain, but it is evident that they will not be splashing the cash.
It does, however, confirm the trend for Chinese investors to acquire English clubs. All four leading West Midlands clubs are now in Chinese ownership: Aston Villa, West Bromwich Albion, Wolverhampton Wanderers and now the Blues. Whether they will be able to stop West Midlands clubs punching below their weight remains to be seen.