Birmingham City takeover: Major update as Blues announce ‘letters of intent’

Birmingham City have released a big update regarding the a potential takeover of the football club, with a statement on Wednesday morning.

Blues have relayed information that two letters of intent to purchase have been entered with a potential takeover party.

It was announced by Birmingham Sports Holdings on the Hong Kong Stock Exchange with references to two potential transactions.

The statement from Birmingham reads: “The parties involved will now enter a period of exclusive negotiation to agree the final terms of the transactions which will formulate the Definitive Agreements.

“The Definitive Agreements are expected to be entered into within two months of the date of the letters of intent, at which time the potential purchaser will also be announced.

“The transactions will be conditional upon the fulfilment of the terms in the Definitive Agreements, including the approval and consent of the English Football League (EFL).”

One of the transactions mentioned would involve the disposal of 24% of the shares in Birmingham City PLC by Birmingham Sports Holdings Limited.

The other transaction would involve the disposal of 21.64% of the shares in Blues by Oriental Rainbow Investments Limited.

It would also include the entire issued share capital of Birmingham City Stadium Limited by Oriental Rainbow Investments Limited and Achiever Global Group Limited.

Any further updates will be brought to you as soon as we get them, here at BirminghamWorld.