Carson Yeung has completed a deal to become Birmingham's biggest shareholder.
The Hong Kong businessman has purchased 29.9 per cent of the club's shares from directors David and Ralph Gold, David Sullivan, Karren Brady and Roger Bannister.
Yeung had paid a non-refundable deposit of £1.09m on 27th June in anticipation of the deal.
The deal, worth almost £15million, leaves the Golds and Sullivan with 23.22 per cent each, while Brady and Bannister also retain small holdings.
Yeung does not yet have full control but talks between his company Grandtop International Holdings Limited (GHIL) and the club are still ongoing.
He only has to increase his holding to 30 per cent to trigger a full takeover bid.
"I don't have any politics and I only want to buy for interest because I love football. I will not let the Birmingham fans down and disappoint them," Yeung told the Daily Mirror.
"The Premiership is the best league in the world and most countries focus on it - especially in China and Hong Kong.
"We have a great market in China and David Gold and David Sullivan have accepted our plan.
"As soon as we can I would like to own the whole club.
"We can buy some good players in January but maybe by then we might already be in a healthy position so we will wait and see."
Source : www.skysports.com
By Lewis Rutledge - Created on 16 Jul 2007
