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Where next for Sullivan and Gold? Not St Andrews that's for sure as Yeung closes in

16th September 2009 By Latest News Leave a Comment

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Speculation surrounding Birmingham City owners David Gold and David Sullivan, and their rumoured interest in Norwich City, will no doubt hot up today after Carson Yeung formally launched his Blues takeover bid.

The Hong Kong businessman has now sent out official offer documents to shareholders and it would be a surprise if Gold and Sullivan were not already eyeing their next move.

Yeung, who launched a failed bid to buy Blues in 2007, is offering �1 a share and hopes to have a deal completed by the end of October.

He already owns 29.9% of the club and with the 'Blues brothers', Sullivan and Gold, indicating they will sell, Yeung is not far away from achieving his goal.

If he reaches a 90% stake that will mean he has to purchase the remaining shares. However, Yeung would still own the St Andrews club with a 90% share, although he is keen to secure the full 100%.

The first closing date of the offer is October 6, and after that date has passed, Grandtop International Holdings – Yeung's business – will assess their level of ownership.

And Yeung is now seeking permission from backers to issue 50% more shares in Grandtop at an extraordinary general meeting next month.

But it is not thought that the acquisition of Blues � who have had a difficult start to life back in the Premier League – is dependent on that happening.

Gold and Sullivan have, of course, already been linked with a return to football when their association with the second city club ends � with the Canaries, Cardiff City and West Ham United said to be interesting them.

But the pair are thought to have 'genuine concerns' about the start up costs involved in taking control of the east London outfit, with a figure of �150m being mentioned.

The potential rewards, and cheaper purchase costs are said to be diverting their attentions to the Football League. And that is where the Canaries and Cardiff City come into play.

Cardiff are an interesting proposition, with the Welsh club holding an emotional pull for Sullivan given that it's his hometown team.

He has often talked about investing in the Bluebirds and you suspect they would be his number one choice.

But geography may also play a part, with Sullivan in particular admitting that the commute from his Essex home was proving more and more difficult.

A trip up the A12 and A140 shouldn't prove too problematic and that is where City may prove to be an attractive option.

Also, it is understood from sources within Carrow Road that majority shareholders Delia Smith and Michael Wynn Jones enjoy a good relationship with Gold.

But whether it's with his business partner or not, Sullivan is determined to get back into football as soon as the Yeung takeover is complete.

“I think for the shareholders and supporters of Birmingham this [the Yeung takeover] is a very good deal,” Sullivan said last month.

“But I have always said if and when I leave Birmingham I will be at another club within 12 months because I love football. It is part of my life and part of my kids' life.”

Tom Haylett


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