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Concerning Birmingham City takeover update emerges



Paul Richardson and Maxi Lopez don’t currently have the sufficient funds to complete a takeover of Birmingham City and need additional finance to make this purchase a reality, according to an update from journalist Neil Moxley.

The same journalist has revealed they have been the deadline to submit a hefty down payment, with the Mirror reporting that the club’s prospective buyers were due to submit these funds at the start of the month.

The duo are planning to buy Vong Pech’s 21.64% stake initially before taking full control of the second-tier outfit as part of a two-year plan, with a £36.5m deal initially being agreed between the West Midlands side’s current owners and Richardson and Lopez.

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Ryan Woods

The latter duo paid a £1.5m deposit last month for the initial 21.64% stake – and looked set to be in the driving seat to take control of John Eustace’s side with Laurence Bassini failing to cough up the necessary funds to get a deal over the line.

This latest twist, however, casts doubt over whether Richardson and Lopez will be able to take the club off Birmingham Sports Holding Limited’s (BSHL) hands, with the pair not having the combined funds to make this deal happen at this stage.

Journalist Moxey has revealed they can’t access the additional money needed to meet their next deadline at this stage, believed to be in mid-August, though they are still scrambling around to find these funds with a takeover deal not ruled out just yet.

The Verdict:

This is a major blow because Eustace’s transfer business will probably be affected by whether this takeover deal goes through or not for the remainder of the window.

Not only does this takeover need to happen to provide the former QPR assistant head coach with the necessary funds to strengthen his squad – but it will also help to wipe out off-field uncertainty.

If this saga continues to drag on in the next few months, it risks disrupting on-field results and this would be a real blow considering Eustace is already fighting against the odds.

He may have been able to bring in a few players – but he needs more to give his team the best possible chance of avoiding another relegation battle and at this stage – ownership uncertainty will only be detrimental to their cause.

If a deal can be concluded, however, it could be crucial to improving the off-field atmosphere at St Andrew’s and that could give the second-tier side a real boost during what could be another tough campaign.

A 21-year-old Reading FC fan and writer who graduated from the University for the Creative Arts in the summer with a degree in Journalism and Media Production. Other topics written about include politics, mental health and education.

ScoopDragon Football News Network

Article title: Concerning Birmingham City takeover update emerges

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