Major Birmingham City takeover decision made as Paul Richardson & Maxi Lopez issue statement

The latest as Maxco pair Paul Richardson and Maxi Lopez issue a statement outlining their decision about their prospective takeover of Birmingham City.
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Birmingham City will not be taken over by Maxco pair Paul Richardson and Maxi Lopez, it has been announced. The duo had been holding continuous talks with Blues’ current owners Birmingham Sports Holdings throughout the autumn and start of the winter this year, but they have decided to pull out of any deal.

Richardson and Lopez had made it public in the summer that they were keen to buy the club but any takeover has now fallen through with these particular prospective owners. “Following several months of due diligence at BCFC, Maxco has decided not to proceed with the purchase of the shareholding and stadium of BCFC at this time,” a statement from Richardson reads.

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“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.

Richardson in particular is seemingly devastated by the outcome, as he has been a Birmingham supporter since he was a child. This is the second time in 2022 that a prospective takeover has failed - as talks with former Watford chairman Laurence Bassini also reportedly broke down earlier in the year.

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