Source: Daily_Mail
Nick Harris: Birmingham's finances put European place in jeopardy
Just a week after the greatestachievement in Birmingham's history - beating Arsenal to lift theCarling Cup, their first major trophy for 48 years - the club facebeing banned from taking the Europa League place they earned throughtheir victory at Wembley. [LNB]UEFA's European licensing rules dictate that clubs must be in sound financial shape to play in their tournaments. [LNB] Wembley wonders: Birmingham players celebrate their Carling Cup victory[LNB]As Inside Sport has catalogued inrecent months, Birmingham's finances remain precarious and events thisweek suggest they are getting worse.[LNB] More from Nick Harris... NICK HARRIS: Old Trafford's Test future threatened by legal case26/02/11 NICK HARRIS: Brian Moore closes Twitter account after second tasteless controversy19/02/11 Nick Harris: Is fear the reason for Mohammad Aamer silence?29/01/11 Nick Harris: Did Spurs fan Sir Phillip Green save Avram Grant's job at West Ham? 22/01/11 Nick Harris: The Premier League demands answers on Pollyana Chu's Birmingham deal 15/01/11 Nick Harris: Birmingham tempting fate with their financial plans08/01/11 Nick Harris: Bosses 'broke own rules' over Tottenham's Olympic bid01/01/11 Nick Harris: Gambler in spot-fix claim is linked to England stars25/12/10 VIEW FULL ARCHIVE A statement to the Hong Kong StockExchange in relation to the club's parent company, BirminghamInternational Holdings, says BIH lost ?5.2million in the six months toDecember 2010 and liabilities exceed assets by ?27.5m. [LNB]As a result, BIH are searching for ?24.5m of new capital but there is no certainty of the cash being raised. [LNB]Even if it is, it will be guaranteed against club chairman Carson Yeung's private property in Hong Kong.[LNB]The statement says: 'This situation indicates the existence of a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern and, therefore, the Group may not be able to realise its assets and discharge its liabilities in the normal course of business.' [LNB]Birmingham face financial meltdown if relegated from the Premier League and concerns over their viability even if they stay up. [LNB]If new funds or firm guarantees about next season are not in place by the summer, UEFA are likely to deny Birmingham their place in Europe. [LNB]Real Mallorca, of Spain's top division, became the highest profile victims of UEFA licence rules last year. [LNB]They were barred from the 2010-11 European club tournaments after going into administration and failing to assure UEFA that they would last this season.[LNB] Rovers' suitor plans raid for playersAhsan Ali Syed, the Indian-born, Bahrain-based businessman who failed in an attempt to buy Blackburn Rovers last year and now owns Spanish club Racing Santander, tells me he's planning a new raid on the Premier League in the summer, this time to buy players. [LNB]Any 'selling' clubs might need to be wary, though. [LNB]Syed has a record of not settling debts promptly. [LNB]According to official records, there is still an 'unsatisfied' (unpaid) 2007 County Court Judgment of ?61,500 against him from when he lived in Britain. [LNB]Syed's spokesman claims the CCJ was cleared in September 2010, and provided paperwork showing the debt was racked up in a dispute with NatWest bank. [LNB]But official records obtained last week say the debt is not officially clear yet. [LNB]Syed has been forced to deny 'serious allegations' about his business dealings in Australia, New Zealand, India and elsewhere, calling the claims 'false and defamatory'. [LNB]But the 39-year-old's Western Gulf Advisory firm is under increasing scrutiny. [LNB]The company's website says they make loans of $25m-$500m after the payment of up-front arrangement fees. [LNB]WGA say they 'do not actively communicate any business deals' and so cannot provide names of satisfied customers.[LNB] Name game: United legend Bryan Robson[LNB]Robbo's life of BrianA pity the Glazer family cannot be as attentive to detail at Manchester United as their fellow Americans, the Fenway Sports Group, are at Liverpool, where the Premier League giants will do battle today. [LNB]The Fenway group are being meticulous in exploring with architects on both sides of the Atlantic every avenue that will allow them to remain at a redeveloped Anfield, not in a new stadium.[LNB] If they do move, it will not be for lack of trying to find ways to stay put. [LNB]Over at United, however, less scrupulous work has led to embarrassing errors in corporate brochures. [LNB]United legend Bryan Robson for example, has unforgivably become 'Brian Robson'.[LNB] Demand for 'prestige' tickets for the London Olympics, costing as much as ?4,500 per person plus VAT for a seat and a meal, is so strong among corporate bigwigs that some events are effectively sold out more than a week before official sales start on March 15. [LNB]Rich east European clients who have expressed 'pre-order interest' have already oversubscribed three times for prestige seats at the water polo (?795 per person plus VAT). [LNB]Women's beach volleyball sessions will also be an instant sell-out at up to ?1,250 plus VAT. [LNB]Prestige seats account for roughly one per cent of the 8.8million Games tickets. Pre-orders suggest 49 per cent of diving tickets (starting at ?795 each) will go on day one, along with 44 per cent of track cycling seats (?4,500 each), and 38 per cent of the ceremony seats (?4,500 each, with a minimum 'bundle' outlay of ?270,000). [LNB] Birmingham 1 West Brom 3: Baggies capitalise on Carling Cup hangoverBlues charged over crowd violence during Carling Cup clash against Villa[LNB] [LNB] [LNB] Explore more:People: Bryan Robson Places: Birmingham, Liverpool, Spain, Australia, New Zealand, India, Bahrain, Europe
