British businessman Bassini is reportedly close to completing a takeover of the club.
The club’s current owners, Birmingham Sports Holdings (BSHL), confirmed in a statement to the Hong Kong Stock Exchange on Tuesday (14 June), that 21.64% of the club has been sold by the biggest shareholder, Vong Pech.
However, BSHL also said in the statement that it has not entered any agreement to dispose of its approximately 75% stake in the club.
Although the identity of the buyer of Pech’s stake in the club hasn’t been officially revealed, Bassini is believed to be behind the proposed takeover.
‘Government must step in to stop the deal’
Ladywood MP Shabana Mahmood has called on the government to stop any deal with Bassini from going through.
She said: “I am disappointed to read this week that Laurence Bassini is close to sealing a deal to purchase Birmingham City Football Club.
“For years, Blues fans have watched with devastation as financial and professional mismanagement has driven their beloved club to the brink.
“After meeting with top officials at the club and fans this year, I was hopeful that the club might turn a corner.
“Bassini has a history of bankruptcy, failed takeover bids, and legal action against struggling clubs. His track record is exactly the reason why football needs a strong regulator and a more robust process to decide who can be a club owner or director.
“If the Government really wanted to make good on its promise to put football fans first they would step in and stop this deal from happening.”
Birmingham City Football Club said it will not be commenting on Shabana Mahmood’s comments.
Bassini has twice been declared bankrupt and, as reported in The Guardian, was banned from football for three years in 2013 after an independent disciplinary commission found Bassini guilty of misconduct and dishonesty over financial dealings on behalf of Watford.
In the past, Bassini has also been linked with attempts to buy Bolton Wanderers, Oldham Athletic, Charlton Athletic and Portsmouth.
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