HK tycoon set to take over Birmingham

LONDON: Birmingham City took a step closer to joining the growing number of foreign-owned Premier League clubs when Hong Kong businessman Carson Yeung became the club's single largest shareholder on Monday.

Yeung, 47, has acquired a 30 per cent stake in the midlands club for 15 million pounds ($30.58 million).

Birmingham added that discussions with Grandtop - the Hong Kong investment firm of which Yeung owns 16.67 per cent - about a possible full takeover were ongoing.

Yeung has said he hopes to complete an estimated 50.0 million pounds takeover by buying the remaining shares from David Sullivan and the Gold brothers.

"I would like to own the whole club," he told the Daily Mirror newspaper on Monday.

Yeung was expected to speak to manager Steve Bruce for the first time but whether his takeover will prompt a wave of big signings at the newly promoted club remains to be seen.

Agencies

(China Daily 07/18/2007 page23)