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Football Economy The Business of the Beautiful Game
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From the Record

Swindon Town FC In Financial Trouble

First reported 11 December 2007

Birmingham City’s latest accounts show the costs of their spell in the Championship. Pre-tax losses for the year to the end of August were £6.52m against a profit of £2.5m a year earlier as turnover slumped 38 per cent from £40.1m to £25m following relegation. The club has been involved in a long running takeover saga with Hong Kong based billionaire Carston Yeung. The investment vehicle which he part owns, Grandtop International, acquired a stake in the club after it regained Premiership status. This was thought to be a prelude to a full takeover, but his business associates in Hong Kong appeared to develop cold feet at one stage. The club has said that it is ‘unlikely’ to seal a deal by the end of the year and whether it ever will remains to be seen.

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