Blues confirm takeover bid
Birmingham City is an attractive prospect for investors
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Monday, 11, Jun 2007 12:52
Birmingham City have confirmed that its board is in discussions over a potential takeover of the club.
The Midlands side has revealed in a statement to the London stock exchange this morning that it has received a provisional approach.
It comes after speculation in the media at the weekend suggested that a Japanese businessman was planning a £70 million swoop for the club.
"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," the City statement said.
"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."
Birmingham secured promotion to the Premiership last season after just one campaign out of the top flight and are viewed as an attractive proposition for potential investors.
Co-owner David Sullivan has refused to comment in detail on the bid, but is known to be open to the possibility of selling the club to foreign investors.