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Friday 9 December 2016

Birmingham City's receivers weigh up offers

Businessman Carson Yeung has been jailed for money laundering
Businessman Carson Yeung has been jailed for money laundering

Five offers have been made for an interest in either Birmingham or parent company Birmingham International Holdings Limited, receivers have confirmed.

Ernst & Young, who are in effective control of BIHL, are assessing the bids in relation to the Sky Bet Championship club or its parent company.

A statement to the Hong Kong Stock Exchange read: "The receivers are currently exploring all strategic options, including a number of offers from parties expressing an interest in the company and/or Birmingham City Plc."

"Up to 30 March 2015 the receivers have received five indicative non-binding offers from independent third parties in relation to possible acquisition of an interest in the company and/or Birmingham City Plc.

"As at the date of this announcement, no formal agreement in relation to the Indicative non-binding offers has been entered into and the Indicative non-binding offers may or may not proceed and/or lead to any transaction in relation to the disposal of any part of the group's interests."

Ernst & Young were asked to take control of BIHL in February to help stop the infighting between the board and this month started investigating the affairs of the company. Carson Yeung, Blues' former owner who bought the club in 2009, is currently serving six years in prison for money laundering.

The Football League have received assurances the club are in no financial danger.

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