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| Carson Yeung discussion; Please read before starting new thread | |
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| Tweet Topic Started: Jun 29 2011, 04:32 PM (8,181 Views) | |
| sjb1989 | Jun 30 2011, 04:37 PM Post #226 |
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Steve Claridge
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:LOL: It's good int it. Anything to lighten the mood! |
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| BARNETTSrun | Jun 30 2011, 04:39 PM Post #227 |
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Malcom Page
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Yes he does This is the worry I've had it explained to me that the charges relate to the 2001-2007 period – two years before Carson invested in this club so there is no connection there," said Pannu. "The fans have nothing to worry about. The finances are OK. I'm flying out later today and will be able to tell you more when I come back. Understandably the fans are worried about this. This has got nothing to do with the club and there is no impact on the operations over here. I've spoken on a couple of occasions to Carson and his lawyers and they've assured me there is no link whatsoever." The argument does not stack up. Pannu has brushed aside financial concerns in the past by saying that "the club is continually supported by Carson Yeung with his personal money". Birmingham International Holdings also relies heavily on Yeung. After the last set of accounts, which revealed liabilities exceeded assets by around £35m, the Hong Kong-listed company stated Yeung "undertakes to provide sufficient financial resources to enable the group to meet its liabilities". To put it another way, both the football club and its parent company need Yeung to be putting his hand in his pocket to keep them afloat. All of which suggests Yeung's arrest could have a very real impact on the Championship club, especially if his bank accounts and assets are frozen during what one of his associates has admitted could be a long and drawn-out trial. The implications if he is found guilty need no explaining |
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| andyrichards | Jun 30 2011, 06:05 PM Post #228 |
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Joe Hart
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http://www.guardian.co.uk/football/blog/20...birmingham-city I know it's paper talk, but its very difficult to argue with the crux of it. He finances the club and BIHC We have no idea where his money comes from, whether any more is on the way, whether assets will be frozen.....or worse if found guilty. The New Broom that's affecting the blues needs to sweep out the attic aswell. |
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| PartisanBCFC | Jun 30 2011, 06:10 PM Post #229 |
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Jack Wiseman
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CY had to surrender his passport His trial is August 11th so we ain't going to see him around pre season or when the Championship season kicks off Not good :copno: |
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| Mallam | Jun 30 2011, 06:11 PM Post #230 |
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Kenny Burns
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:( |
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| wardendbluenose | Jun 30 2011, 06:18 PM Post #231 |
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Alex Govan
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He's not good enough to warrant a start anyway :unsure: He will be handy to have around when the fixtures pile up. |
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| chudlt | Jun 30 2011, 06:53 PM Post #232 |
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Frank Worthington
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Best thing is if CY sells the club as soon as possible. |
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| djmmusic | Jun 30 2011, 07:06 PM Post #233 |
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Alex Govan
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Why waste energy being scared or worried? We've had worse times. There's nothing we can do about it. |
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| andyjjj | Jun 30 2011, 10:14 PM Post #234 |
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Geoff Horsfield
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Look it's been fairly obvious lately that Carsen Yeung hasn't got the cash to support Blues, so IF he does go down and the BIH shareholding Inc BCFC stake is seized and sold off, with any luck we might get a new owner who actually HAS got some cash! So it could work out for Blues in the long run - all if's and but's though - it could also easily not work out... |
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| JaKe1994 | Jun 30 2011, 10:27 PM Post #235 |
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Martin Grainger
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We'll be fiiiiiiiiine! |
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| Jabber BCFC | Jun 30 2011, 10:47 PM Post #236 |
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Frank Worthington
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I have some cash! it's only £250 but it's a start right! |
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| Prawnman | Jun 30 2011, 10:48 PM Post #237 |
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Paul Tait
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Some further details of the allegations against Carson Yeung have now come out in the newspapers in China; whilst I have seen some outlines here in the UK I’ve not seen specifics and thus I thought it worthy of an update. Ming Pao have published this article, in which they discuss some of the evidence that Carson has been confronted with. The crux of it is that between 2001 and 2007 Carson Yeung reported only HK$1.65mil (roughly £130,000) in income, yet HK$748million (roughly £60million) went through five accounts held by him and his father. As you can imagine, the taxman isn’t happy. Furthermore, in Oriental Daily, it is revealed that the three accounts in Carson’s name had HK$632mil (roughly £50.5mil) deposited of which HK$85mil (approx £6.8mil) was in cash. There is concern from the police department as to where this money has come from. His dad has gone back to the Mainland (ie PR China) and hasn’t returned to HK; Carson has been bailed and will have to report to the police station three times a week; has surrendered his passport and will be resident at his mansion at 31B Barker Road, on the peak. As more becomes available, I will update further. http://www.oftenpartisan.co.uk/archives/20...nese-media.html |
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| blueblood | Jun 30 2011, 10:49 PM Post #238 |
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Johnny Vincent
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:applause: Just have the craic! |
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| .Jake | Jun 30 2011, 10:51 PM Post #239 |
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Nikola Zigic
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I request the money I buy my season ticket on Saturday goes to his court case.. :rolleyes: |
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| darrenbjohn | Jun 30 2011, 10:54 PM Post #240 |
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Olivier Tebily
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To me it looks like Carson has plenty of cash to support the Blues... only problem is it seems he hasn't told any of the authorities about it!! His mattress must have been lumpy with all the HK$ stuffed in it. (For legal reasons, i would like to point out this is a joke and in no way represents an attempt to defame Yeung's professional standing - He is assumed innocent until proven guilty by the courts of law and i will fully support him as an honest businessman until he is, if it all, proven otherwise.....phew!). |
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| willvbcfc | Jun 30 2011, 10:55 PM Post #241 |
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Gil Merrick
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Bless him. He's trying to do his best for the football club and he has to deal with one thing after another. Well done Peter - keep at it! You're doing a sterling job! |
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| .Jake | Jun 30 2011, 10:56 PM Post #242 |
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Nikola Zigic
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Too right, picking up the pieces a lot recently. |
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| andyjjj | Jun 30 2011, 10:57 PM Post #243 |
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Geoff Horsfield
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I'll match it, who else is in? We only need about 200,000 blues fans all putting in £250 each, and then we might have enough to buy him out! |
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| .Jake | Jun 30 2011, 10:58 PM Post #244 |
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Nikola Zigic
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Don't htink we have got enough supporters worldwide.. |
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| andyjjj | Jun 30 2011, 11:01 PM Post #245 |
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Geoff Horsfield
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Have to feel for him. He's like the band on the titanic, just keeps going til the end. |
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| bluebell | Jul 1 2011, 06:50 AM Post #246 |
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Trevor Hockey
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FL monitoring Yeung situation It is believed Carson Yeung can remain in control at Birmingham even if found guilty of laundering money amounting to £59million. Yeung has been released on bail of £558,000 until the next hearing in his native Hong Kong, which is scheduled for August 11. In addition, Yeung has been ordered to surrender his travel documents and report regularly to police. The shares of City's parent company, Birmingham International Holdings, have been suspended. If the charges against him are proven, Yeung would have to stand down as a director of the club under the "fit and proper persons" test which is part of Football League regulations. But he would be able to stay at the helm as the majority shareholder with a 26% stake in Birmingham. A Football League spokesman said: "The Football League are monitoring the situation. We can't comment further than that." Yeung was granted bail after appearing in court yesterday to answer alleged offences which took place between 2001 and 2007 - two years before he took control at St Andrew's. Acting City chairman Peter Pannu insists Birmingham are in a sound financial position after flying to Hong Kong yesterday for talks with Yeung. Pannu is adamant that there is no connection between the charges against Yeung and the midlands club. He said: "I've had it explained to me that the charges relate to the 2001-2007 period. "That is two years before Carson invested in this club so there is no connection there. The finances are okay." Pannu has tried to allay the fears of supporters after another setback following relegation from the Premier League and the loss of manager Alex McLeish to local rivals Aston Villa. He said: "The fans have nothing to worry about. Understandably the fans are worried about this. "But this has got nothing to do with the club and there is no impact on the operations over here. "I've spoken on a couple of occasions to Carson and his lawyers and they've assured me there is no link whatsoever." Yeung bought a 29.9% stake in City in summer 2007. He took full control of the Carling Cup winners midway through the 2009-2010 season in an £81million takeover from David Sullivan and David Gold. |
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| Kaje | Jul 1 2011, 07:34 AM Post #247 |
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Garry Pendrey
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He's just a shareholder, he doesn't own BCFC OR BIH. BIH owns BCFC and he's a shareholder in BIH. If he gets put away, he has to sell his shares. It's not the end of the world - listen to the club, not the bloody Guardian. |
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| Mallam | Jul 1 2011, 07:52 AM Post #248 |
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Kenny Burns
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Birmingham City could be facing a fire-sale both on and off the pitch if owner Carson Yeung is convicted of money-laundering. The future of the Championship club looks in serious doubt after the businessman heard five charges against him totalling £59million in a Hong Kong magistrates' court. Read more: http://www.dailymail.co.uk/sport/football/...l#ixzz1Qq1DCJew :( |
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| Bluebird | Jul 1 2011, 07:53 AM Post #249 |
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Paul Tait
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Thanks for the Link Andy. The Article is revamped news but the comments after are of much greater interest and delve far deeper. One of those comments:
Interesting that CY is accused of laundering approximately £57m and yet the question still hangs as to the significance of that amount with the final payment made by CY to acquire the grossly over priced BCFC from DS and the Gold Brothers. The truth is that we, the fans, are the victims.... We have no say in what takes place before, during or after any acquisition by those who manage us financially and "professionally". Everyone associated with the Club - Players, Manager, Management Team, Board, etc - all take money out of the Club.... We, the fans are the true investors in the Club by our purchase of our ST's, Match Day Tickets, Merchandise, Pies :rolleyes: etc etc etc But our biggest investment is our emotion; our belief; our trust in those who are the custodians of that legacy left to us by our Fathers who one day took us by the hand and walked us through the Pearly Gates of St Andrews. Yes there has to be a business approach to the Club but it would never exist without the fans.... The Owners look for a return on their investment - they want money! The Fans look for a return on their investment too - we want success, if possible; recognition by fellow fans and the media; entertainment; integrity from and connection with those who represent us both on and off the pitch.... But most of all we want everyone to play their part and share in the realisation of our dreams.... If they fail to do that then they betray our belief, they betray our legacy and they betray the day that our Fathers held our hands as we stood on the terraces at St Andrews and said to us: "This is our Team - This is The Real Blues - This is where we belong!" So if YOU failed us by bringing the name and image of our Club into disrepute.... If YOU failed us by kissing the badge one week and kissing someone else's the next.... If YOU failed us by not being role models to our children and embracing those values and beliefs that we do as a Family.... If YOU failed us by declaring YOUR allegiance one day and abandoning us the next.... Shame On YOU Each And Every One Of YOU.... YOU do not deserve US and WE certainly do not deserve YOU :blues: |
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| Mallam | Jul 1 2011, 07:55 AM Post #250 |
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Kenny Burns
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No Football League sanctions yet for Carson Yeung or Birmingham City :blink: http://www.guardian.co.uk/football/2011/ju...birmingham-city |
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