Blues seek to calm fans' fears

28 July 2011 06:43
Peter Pannu has played down fears of a financial crisis at Birmingham but admits players on Premier League wages will have to be sold.[LNB] Acting chairman Pannu had himself on Wednesday claimed that "unpopular decisions" will have to be made when he returns from the Far East in the middle of next week.[LNB]But it became clear earlier on Thursday that this related to the off-loading of some of last season's players rather than any imminent fears of the club facing financial meltdown.[LNB]Now Pannu has acted to calm fears of supporters over the club's financial position after leading share-holder Carson Yeung's assets were frozen in Hong Kong after he was charged with money laundering.[LNB]Pannu told bcfc.com: "I wish to make it clear that, whilst the benefactor's legal wrangles do pose some problems, we have sufficient contingency plans to cater for the temporary difficulties thrown at us.[LNB]"Our bankers (HSBC) have been very supportive and we currently still stand in a positive credit balance with them."[LNB]Pannu added: "When we talk about offloading players, we will consider players on Premier League wages as this is not a sustainable scenario for an npower Championship club.[LNB]"Clubs need to adjust to the new environment, particularly when the Football League has endorsed the practices of UEFA's Financial Fair Play Rules.[LNB]"Whilst in an ideal world we would wish to retain all of our star players, it is not realistic to do so.[LNB]"The club is happy to entertain their requests to play Premier League football but only if it also fits into our financial strategy.[LNB]"I wish to assure supporters that what we are addressing is no more and no less than what a prudently managed club would do."[LNB]Blues have already sold Roger Johnson, Craig Gardner and Barry Ferguson from last season's first team.[LNB]

Source: Team_Talk