Peter Pannu, the acting chairman of Birmingham City, has played down mounting fears of a financial crisis at the club. The assets of owner Carson Yeung have been frozen in Hong Kong before his appearance in court next month to face five charges, which he denies, of money laundering. Shares in the club’s holding company have been suspended.
Peter Pannu, the acting chairman of Birmingham City, has played down mounting fears of a financial crisis at the club. The assets of owner Carson Yeung have been frozen in Hong Kong before his appearance in court next month to face five charges, which he denies, of money laundering. Shares in the club’s holding company have been suspended.
Pannu emphasised that the club’s bankers had been very supportive and the credit balance was currently positive. However, the mass exodus of players seems likely to continue with Nikola Zigic the latest to announce his intention to quit.