Blues takeover close to completion

Yeung gets Premier League approval

September 25, 2009
By Soccernet staff

Carson Yeung's takeover of Birmingham City moved a step closer to completion on Friday after the Premier League approved his appointment as a director of the Midlands club.

Carson Yeung
APCarson Yeung is making his second takeover bid for Birmingham City.

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The Hong Kong businessman, along with associate Vico Hui Ho Luek, passed the organisation's 'fit and proper person test' and his bid to take control of the Blues can now proceed.

Earlier this week Yeung's company Grandtop International Holdings increased their share capital in the club to 81.7% with a view to the deal being finalised in early October.

A statement from Grandtop to the Stock Exchange read: "The Premier League has confirmed to Grandtop that it has no objection to Grandtop increasing its stake in Birmingham City PLC to over 30%.

"The Premier League has also confirmed that Carson Yeung Ka Sing and Vico Hui Ho Luek qualify for appointment as directors of Birmingham City FC and that their appointment as directors of the club may, so far as the Premier League is concerned, proceed."

Yeung failed with an attempted to takeover Birmingham in 2007 when he failed to deliver the money for the takeover by the deadline of November 30.