Birmingham City ‘approached’ for takeover by new interested parties - official club statement

Birmingham City have issued a statement to update supporters on the latest developments surrounding a potential takeover of the club. It comes a few days after Maxco pair Paul Richardson and Maxi Lopez announced they were pulling out of any potential deal.

There has been lots of uncertainty for Bluenoses over recent weeks and months, with speculation about the club’s future seemingly never going away. But the Championship outfit has now been able to provide fans with more context - and there is one line in particular that will certainly grab attention.

‘The Club can confirm that the proposed deal for investment by MaxCo has come to an end following the Club’s owners’ exercise of their right to terminate the deal,” a Birmingham City statement reads. As supporters will appreciate, for legal reasons, the Club is restricted in what it is able to say publicly at this time.

“Since media reports on Friday 2 December, the Club have been approached by other interested parties. We wish to reassure supporters that all and any official developments will be published on the Club’s website (BCFC.com) and official social media channels.”

It is unclear who said ‘parties’ are, but it has now been confirmed by the club itself that there are still approaches being made. There has been lots of interest in the club throughout the year, but Richardson and his Maxco colleague Maxi Lopez were the closest yet to completing a deal.

Things fell through lsat week, however, after they failed to reach an agreement with Blues’ current owners Birmingham Sports Holdings. “Following several months of due diligence at BCFC, Maxco has decided not to proceed,” a statement from Richardson read.

“In light of the due diligence we attempted to renegotiate the terms of the original agreements to reflect our understanding of the current business status, but could not argue revised terms with the current owners. We have been left with no alternative and are bitterly disappointed.

“We know what this club means to the community and the very loyal fanbase. We really hope that BCFC finds an owner who is as passionate about the club as we are. Keep right on,” Richardson said on Instagram, tagging his Maxco counterpart, Lopez.