Blues confirm takeover talks
11 Jun 2007 - 09:38:43
Birmingham City have revealed they are at a 'preliminary stage' in discussing a potential takeover bid for the Premier League-bound club.
Current owners David Sullivan and the Gold brothers are believed to be in talks with a mystery billionaire businessman which could end their decade at the helm of the Blues.
Last month Gold revealed he expected the club to be the subject of interest from foreign investors and fresh reports now suggest Birmingham could be taken over in a £50million deal.
"The directors have noted the recent movement in the share price and the press speculation and confirm that they have had an approach with regard to a possible acquisition of the issued share capital which may or may not lead to an offer for the company," confirmed a statement to the Stock Exchange.
"Such discussions are at a very preliminary stage and the directors note that there is no certainty that a transaction will result from the approach."