Likely identity of Birmingham City bidder revealed as takeover edges closer

America-based hedge fund manager Tom Wagner is close to buying a stake in Birmingham City, according to reports in the United States.

Earlier this month, Blues confirmed the news that current owners Birmingham Sports Holdings Ltd had received two letters of intent to buy.

A statement on April 12 read: “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).”

Bloomberg now claims Wagner is aiming to become the latest US buyer to acquire a stake in a British football club, with a sale ‘close’.

Wagner, who is the co-founder of Knighthead Capital Management, currently oversees around $9 billion.

The deal mentioned would “include the purchase of St Andrew’s Stadium”, though the New York-based firm refused to comment when asked by Bloomberg.