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Carson Yeung discussion; Please read before starting new thread
Topic Started: Jun 29 2011, 04:32 PM (8,182 Views)
zerofour
Steve Claridge
[ *  *  * ]
Loving the youtube link, very funny.

Well this is all fun and games isn't it. Hope we don't go the way of Plymouth Argyle (in any sense) to be honest, but we'll just have to wait and see what Pannu says when he gets back.

Maybe we can get this sorted and truly become a well-run club with great fans involvement. I often talk about Exeter City (I know the place well) but when that club was having problems, it led to very positive developments with the fans being involved and they went from strength to strength. It's a model I reckon every club should follow to some extent.
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david_speedie
Geoff Horsfield
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blue_adam
Jun 30 2011, 10:37 AM
Sky: shares in Birmingham international holdings have been suspended.

Anybody with a business mind care to explain this?

two possibilities. The stock was about to take a massive nose dive, so to protect investors the stock would have been suspended at the previous close. Very unethical and they will have a lot to explain to the HKSE. Another is that the police have suspicions that Carson Yeungs alleged activities are directly connected with BIH, in which case trading could be suspended until the investigation is completed.
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andyjjj
Geoff Horsfield
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Pannu says this doesn't affect us because it's all to do with before 2007, but surely it still does if the club was bought with money from those potential dealings IF proven guilty?
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curlyminogue
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andyjjj
Jun 30 2011, 11:33 AM
Pannu says this doesn't affect us because it's all to do with before 2007, but surely it still does if the club was bought with money from those potential dealings IF proven guilty?

How can it NOT affect us if the major shareholder is sent to prison for a few years?
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andyjjj
Geoff Horsfield
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curlyminogue
Jun 30 2011, 11:41 AM
andyjjj
Jun 30 2011, 11:33 AM
Pannu says this doesn't affect us because it's all to do with before 2007, but surely it still does if the club was bought with money from those potential dealings IF proven guilty?

How can it NOT affect us if the major shareholder is sent to prison for a few years?

Exactly my thinking...

:(
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jmsblues
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Mikael Forssell
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.Griff.
Jun 30 2011, 09:21 AM

:unsure:
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louiseknight
Olivier Tebily
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david_speedie
Jun 30 2011, 11:30 AM
blue_adam
Jun 30 2011, 10:37 AM
Sky: shares in Birmingham international holdings have been suspended.

Anybody with a business mind care to explain this?

two possibilities. The stock was about to take a massive nose dive, so to protect investors the stock would have been suspended at the previous close. Very unethical and they will have a lot to explain to the HKSE. Another is that the police have suspicions that Carson Yeungs alleged activities are directly connected with BIH, in which case trading could be suspended until the investigation is completed.

I read somewhere it was ceased as they predicted it would plunge.
Just protecting investments.
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ricky_rodent
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Geoff Horsfield
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andyjjj
Jun 30 2011, 12:45 PM
curlyminogue
Jun 30 2011, 11:41 AM
andyjjj
Jun 30 2011, 11:33 AM
Pannu says this doesn't affect us because it's all to do with before 2007, but surely it still does if the club was bought with money from those potential dealings IF proven guilty?

How can it NOT affect us if the major shareholder is sent to prison for a few years?

Exactly my thinking...

:(

Blackpool managed when their chairman was in prison
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Prawnman
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Paul Tait
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ricky_rodent
Jun 30 2011, 12:06 PM
andyjjj
Jun 30 2011, 12:45 PM
curlyminogue
Jun 30 2011, 11:41 AM
andyjjj
Jun 30 2011, 11:33 AM
Pannu says this doesn't affect us because it's all to do with before 2007, but surely it still does if the club was bought with money from those potential dealings IF proven guilty?

How can it NOT affect us if the major shareholder is sent to prison for a few years?

Exactly my thinking...

:(

Blackpool managed when their chairman was in prison

http://www.oftenpartisan.co.uk/archives/20...ung-update.html

What does this all mean for Birmingham City?

In the short term, there are a couple of problems. What worries me the most is that this year we are quite dependent on influxes of money from Carson (as we don’t have the Premier League millions from Sky to bank on), and with the current state of play it’s possible his assets might be frozen. This would have a knock on effect of Birmingham City having to sell players to ensure the books are balanced; I know we already are doing that but it would significantly weaken our position and would mean players would be more ripe for being bought for less money than we hoped. I suspect over the next few days we will see if this is the case.

Secondly, the question is how the Football League are going to react to this. It’s important to remember whilst Carson has been bailed to appear before court, he’s not been found guilty of anything yet and as such remains an innocent man. I’ve left a message with the FL press office to ask them for a comment with regards to this story, and when I have a response I will update the blog ASAP.

Financial cases have a habit of being long, drawn out affairs. This is not something that is going to be settled overnight, and as such I think now that the story is sub judice, it will quieten down until specific allegations are made in court or released by the Hong Kong police. I believe it is unwise to speculate on what the charges might exactly relate to and will therefore not be doing that.
However, if Carson is found guilty then things will change. I’m under the current belief (although I will need to check this out fully) that if Carson is found guilty, his shares in BIH (amongst his other assets) may be seized by the HK government. Carson only controls 29.9% of BIH; I think it may be possible if another investor can be found that his shares in BIH could be moved on – in which case Carson’s legal troubles would probably no longer affect BCFC. That however could well be a long time in the future; for now he’s still the man in charge.
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andyjjj
Geoff Horsfield
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Prawnman
Jun 30 2011, 12:15 PM
ricky_rodent
Jun 30 2011, 12:06 PM
andyjjj
Jun 30 2011, 12:45 PM
curlyminogue
Jun 30 2011, 11:41 AM
andyjjj
Jun 30 2011, 11:33 AM
Pannu says this doesn't affect us because it's all to do with before 2007, but surely it still does if the club was bought with money from those potential dealings IF proven guilty?

How can it NOT affect us if the major shareholder is sent to prison for a few years?

Exactly my thinking...

:(

Blackpool managed when their chairman was in prison

http://www.oftenpartisan.co.uk/archives/20...ung-update.html

What does this all mean for Birmingham City?

In the short term, there are a couple of problems. What worries me the most is that this year we are quite dependent on influxes of money from Carson (as we don’t have the Premier League millions from Sky to bank on), and with the current state of play it’s possible his assets might be frozen. This would have a knock on effect of Birmingham City having to sell players to ensure the books are balanced; I know we already are doing that but it would significantly weaken our position and would mean players would be more ripe for being bought for less money than we hoped. I suspect over the next few days we will see if this is the case.

Secondly, the question is how the Football League are going to react to this. It’s important to remember whilst Carson has been bailed to appear before court, he’s not been found guilty of anything yet and as such remains an innocent man. I’ve left a message with the FL press office to ask them for a comment with regards to this story, and when I have a response I will update the blog ASAP.

Financial cases have a habit of being long, drawn out affairs. This is not something that is going to be settled overnight, and as such I think now that the story is sub judice, it will quieten down until specific allegations are made in court or released by the Hong Kong police. I believe it is unwise to speculate on what the charges might exactly relate to and will therefore not be doing that.
However, if Carson is found guilty then things will change. I’m under the current belief (although I will need to check this out fully) that if Carson is found guilty, his shares in BIH (amongst his other assets) may be seized by the HK government. Carson only controls 29.9% of BIH; I think it may be possible if another investor can be found that his shares in BIH could be moved on – in which case Carson’s legal troubles would probably no longer affect BCFC. That however could well be a long time in the future; for now he’s still the man in charge.

That basically means we're in limbo for a few months even years, with no support financially.

Just hope we can stay afloat and even in the division!
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SpokesT
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Frank Worthington
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djmmusic
Jun 30 2011, 10:04 AM
One or two comments here seem to be drawing parallels with cases which took place in England. Would it be churlish to point out that the legal system in Hong Kong, despite previously being a British colony, may be completely different to English law?

Hong Kong. That's in China isn't it? Where they use English law... don't they?
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jassyblue80
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Trevor Francis
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Prawnman
Jun 30 2011, 08:08 AM
jassyblue80
Jun 30 2011, 08:04 AM
Prawnman
Jun 30 2011, 07:09 AM
One thing for sure, if China didn't know about us they sure do now! This could be the worlds greatest PR stunt!  :LOL:

my dad is away at the moment and can only get bbc world news and eusro sport news, and he has said there is nothing being reported on either!!

Maybe not then! :LMAO: Gord we are useless at everything!

I'm sure word will spread!!
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bluerinse
Geoff Horsfield
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My thought, ( all based on what has been reported in the media and of cause is all based on hear say and conjecture,) If the alleged offence took place between 2001 and 2007 then the money gotten from illegal activity was already in the bank when CY first tried to buy blues, (and it has been reported as £53m) why did he not buy the club at that time and have to go looking for more investors, he could have owned a larger share of the club himself. If the money he bought his share off the club with was partly from alleged illegal earnings does that have an effect on the club?
Has BCFC been used to launder some of that Money?
Why did the Gullivans promise to sell only to someone that could take the club forward? They did not hang around when CY came back with the funds even though they had slatted him when the first deal collapsed; I reckon they must have had some idea who they were dealing with! Took the money and ran is an understatement.
Who else on the share holders list is un trustworthy, who are they, why have the FA not checked these people out, why do we bluenoses all ways seem to have to live with none football related issues, cant we please just have a good manager a half decent team, some decent football and a safe and steady owner, please god!!!!!
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SimonBCFC
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Mike Skinner
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Just got off the phone to Chinese Alan, anyway he says this sort of thing happens all the time to 'rich' people in HK and not to worry **thumbup
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The_future_is_blue
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Frank Worthington
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We won't have a club in 2012. That's my cheery prediction for the day!
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tamworth_blue
Geoff Horsfield
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The_future_is_blue
Jun 30 2011, 02:22 PM
We won't have a club in 2012. That's my cheery prediction for the day!

you need to change your user name then :whistle:
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tony123
Alex Govan
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It certainly isnt good news.
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thehod
Mikael Forssell
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The_future_is_blue
Jun 30 2011, 02:22 PM
We won't have a club in 2012. That's my cheery prediction for the day!

There will ALWAYS be a Birmingham City Football Club.

We may be playing on Billesley Common, but there will always be a club.
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ecassar_778
Jose Dominguez
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http://news.bbc.co.uk/sport1/hi/football/13976055.stm
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bluerinse
Geoff Horsfield
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Guardian think we are in Trouble, full story on link, worring bit below

http://www.guardian.co.uk/football/blog/20...birmingham-city

Peter Pannu, to claim that there is no reason for supporters to be concerned that the club's controlling shareholder is about to stand trial after being charged with money laundering.

"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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BARNETTSrun
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Malcom Page
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bluerinse
Jun 30 2011, 03:35 PM
Guardian think we are in Trouble, full story on link, worring bit below

http://www.guardian.co.uk/football/blog/20...birmingham-city

Peter Pannu, to claim that there is no reason for supporters to be concerned that the club's controlling shareholder is about to stand trial after being charged with money laundering.

"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.

Exactly

To simply claim - this has no effect on us is simply ridiculous

It MUST have an effect - one way or the other
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Trueblood
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Kenny Burns
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Looks like the Football League won't take any action or investigation for a while yet, so not getting a knee jerk reaction from the footballing authorities is one less thing to worry about for now

Birmingham's relegation means they will now come under the jurisdiction of the Football League, but they are reluctant to make any public comment on the matter while the case is ongoing.

A Football League spokesman said: "We are monitoring the situation. We cannot comment further than that."
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.Jake
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Nikola Zigic
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http://www.skysports.com/video/inline/0,26...7011169,00.html

Just a short Pannu interview on the matter, he seems quite down to earth..
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sjb1989
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Steve Claridge
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Jakeee
Jun 30 2011, 04:26 PM
http://www.skysports.com/video/inline/0,26...7011169,00.html

Just a short Pannu interview on the matter, he seems quite down to earth..

Bless him. He's even trying hard to raise our finances by putting his hand to gnarly music videos **thumbup...

http://www.youtube.com/watch?v=IfeyUGZt8nk...player_embedded
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.Jake
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Nikola Zigic
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sjb1989
Jun 30 2011, 04:27 PM
Jakeee
Jun 30 2011, 04:26 PM
http://www.skysports.com/video/inline/0,26...7011169,00.html

Just a short Pannu interview on the matter, he seems quite down to earth..

Bless him. He's even trying hard to raise our finances by putting his hand to gnarly music videos **thumbup...

http://www.youtube.com/watch?v=IfeyUGZt8nk...player_embedded

:LMAO: very well put together.
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