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| The Mystery Men Behind The Scenes At Birmingham; Sunday Mercury report | |
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| Tweet Topic Started: Aug 7 2011, 09:41 AM (616 Views) | |
| bluenoseboris | Aug 7 2011, 09:41 AM Post #1 |
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Paul Tait
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Im not sure its really new but worth a look: Special Report: The mystery men behind the scenes at Birmingham City Aug 7 2011 Special Report by Adam Aspinall, Sunday Mercury THE mystery Chinese businessmen who have helped Carson Yeung buy and run Birmingham City can be revealed for the first time today. The crisis-hit club kicked off a new season in the Championship yesterday, after a devastating and costly relegation from the Premiership. But the build-up to the campaign has been beset by off-field problems – including owner Yeung facing £60 million money laundering charges in China. Now an investigation by this newspaper and fan website Often Partisan has revealed the men who have remained in the shadows at St Andrews. They include Liu Xingcheng, the second most powerful figure at Blues’ parent company, Birmingham International Holdings (BIH). The hugely wealthy legal advisor has a 11.26 per cent stake in the club, second only to the 26.31 per cent that Yeung owns through his company, Great Luck Management, and his own personal stock. Yet most Blues supporters will have never heard of Xingcheng before today. Even though his stake is worth almost £6 million, he does not hold an official position on the board and has remained silent throughout Blues’ current crisis. Little is known about his background but he is believed to be based in the Chinese capital Beijing and specialises in property deals, banking and financial law. He is also said to be well connected in political circles on the Chinese mainland, but all attempts by this newspaper to contact him for a comment failed. Yet if Carson Yeung is found guilty of laundering £59 million – which carries a maximum jail sentence of 14 years – Xingcheng would suddenly become a key figure at Blues. In the meantime, shareholders still have the legal option to remove Yeung from his current position as President of BIH and appoint someone else to ensure that the office is properly fulfilled. The build up to the new season has been traumatic for Birmingham and its devoted fans, with many top players leaving and manager Alex McLeish quitting and later joining arch-rivals Aston Villa. Yeung was arrested in June and we later revealed his assets were set to be frozen, sparking speculation of more financial troubles at Blues, who lifted the League Cup last season. Last week it was announced that BIH is aiming to raise £6 million though a deal with investment company Inkatha Group Ltd., based in the British Virgin Islands. The club owners, whose shares remain suspended on the Hong Kong Stock Exchange, announced a loan agreement with the company. The deal would reportedly give Inkatha the option of taking up a 14 per cent stake in BIH after two years. The man behind the investment company is said to be Chinese businessman Yang Yuezhou. If his £6 milliion investment is successfully turned into shares he will overtake Liu Xingcheng as the second highest stakeholder in BIH. Yuezhou, 31, is understood to be chairman of Qinghai China Hui Industrial Ltd,, based in central China, and lives in the southern province of Guangdong. Yet Liu Xingcheng and Yang Yuezhou are far from alone in being an enigma to Blues fans. Current BIH chairman Vico Hui, who stumped up the bail money for Yeung, is rarely seen at games even though he owns 4.2 per cent of the club through his company, Premier Rise Investments. Yet even fewer supporters would know stay-away Vice Chairman Bruno Wu. The highly educated Wu has rarely, if ever, been spotted at St Andrews but unlike Xingcheng he is a much more high-profile character in his native China. Sometimes described as China’s version of Rupert Murdoch, the 44 year-old has built a vast media empire. |
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| The_Bear | Aug 7 2011, 10:30 AM Post #2 |
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Gil Merrick
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So if he owns a 11% share worth 6 million that makes the overall share value of the club £60 million. Now I was under the impression that Blues were bought for over £80 million. |
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| lowdham bluenose | Aug 7 2011, 10:33 AM Post #3 |
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Joe Bradford
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That's Yeungs commercial and business naivety for you. That's true of most hairdressers though. |
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| bluenoseboris | Aug 7 2011, 04:47 PM Post #4 |
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Paul Tait
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u are so right! Forget Vidal sasoon, the hairdresser come casino owner bought us.... u could not make it up! from now on please no "CY" its "the hairdresser" ! |
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| stinger2001 | Aug 7 2011, 07:22 PM Post #5 |
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Geoff Horsfield
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If these people are rich why are they not investing in players to get us promoted to protect their investment. |
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| ManicBlue36 | Aug 7 2011, 07:29 PM Post #6 |
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Geoff Horsfield
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And look at how much stick the Golds got. |
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| Joe | Aug 7 2011, 08:54 PM Post #7 |
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Geoff Horsfield
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have to say this is shocking stuff. cobbled together form all over the place and it's nothing new whatsoever. sunday mercury really has gone down the pan they can't even find anything fresh |
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8:18 AM Jul 11