Trio increase stake in Blues
20 Feb 2008 - 16:32:06
David Sullivan, David Gold and his brother Ralph have strengtehned their positions at Birmingham City after increasing their stakes in the club.
The move means Hong Kong businessman Carson Yeung's hopes of gaining representation on the Blues board have failed.
Yeung had proposed that Steve McManaman and Fan Zhiyi should become directors of the club, but that idea has now been rejected.
Sullivan has spent almost £60,000 buying one million ordinary shares, taking his stake up to 24.45 per cent, while the Golds now have more than a 25 per cent stake.
Meanwhile, Karren Brady and finance director Roger Bannister have sold their shareholding in City.
Yeung paid £15million for a 29.9 per cent stake in the Blues in July 2007, but failed to complete his takeover of the club when he could not raise a further £35million.
McManaman had earlier said: "I'm not standing any more and don't want to be nominated. It was all a bit of a mistake."
