SULLIVAN TO REINVEST IN BLUES – BUT FOR HOW LONG?

21-12-2007

Can we take David Sullivan seriously as co-owner of Birmingham City?  Just a few months ago the club’s PLC chairman was willing to sell the club to a Hong Kong businessman – now he’s pledging to increase his stake claiming “renewed enthusiasm”.

Yesterday’s announcement to the Stock Exchange outlines the process by which the St Andrews directors lost faith in Carson Yeung, the man behind the takeover (http://tinyurl.com/2ugszf)

After initially being persuaded that he had personal resources to buy Blues, the board learned that Yeung was trying to raise the cash separately on the money markets through his company Grandtop.

Having had their confidence in him shaken, the “final insult” was apparently a claim by Grandtop’s CEO that the deal was being delayed at the Birmingham end.

Clearly this doesn’t reflect well on Yeung.  He’s portrayed as unreliable, and someone who can’t be trusted in business dealings - but let us not forget that throughout this era of uncertainty, he was still allowed to buy 29.9% of the club, and would be the new owner today if he’d followed through with the deal.

So Blues, by their directors’ own admission, are third-owned by someone they regard as a dodgy geezer.  Cheers, chaps.

This arguably says as much about Sullivan and his co-directors David and Ralph Gold as it does about the man who wanted to replace them.

All the talk now is of the club’s bright future under new manager Alex McLeish.  The departure of his predecessor Steve Bruce to Wigan was described by Sullivan as “the best thing that has ever happened to Blues”.

But how long will it before Sully himself decides he’s had enough?  In the past, he’s berated the fans on numerous occasions, accusing them of failing to support the club in sufficient numbers and betraying an unduly thin skin whenever he’s criticized. 

He’s also been sporadically linked to his home town club Cardiff and West Ham.

Now he says, “it is my intention to show my commitment to the club by increasing my shareholding to 29.9%, the maximum allowed by the stock market without making a full bid for the club.

“My enthusiasm for the club is renewed.  The appointment of our new manager has been a success, and I have not felt this inspired and happy at the club for a long time.”

We’re glad to hear it…but The Stirrer wonders how long that state of affairs will last. 

A man willing to flog off a third of his football club to a buyer whose business case hadn’t been examined properly; and who regularly shows his contempt for the fans who keep his company afloat can not be regarded as a safe bet.