Prospective new owner of Birmingham City Laurence Bassini has responded to claims against his takeover bid for the club.
The former Watford owner has promised Blues supporters that he will invest in the club should he take control at St Andrew’s.
Bassini expects the deal to go through within the next week and he has revealed the new board intends to invest up to £30 million in the club over a three-year period in charge.
The businessman has also confirmed that current West Ham owner David Sullivan has provided him with some of the funding to secure the deal.
The 52-year-old added that he is investing £10 million into the purchase of the club.
“I have shares and I’m borrowing £10million against my shares. I will appear with a bank statement to show I’ve got the money," said Bassini, via the Mirror.
“At the moment they’re working out a completion date. But there’s an issue with a majority shareholder, so we don’t know what the situation is with him at the moment.
“We exchanged contracts on Sunday night, we’ve signed, so providing there’s no problem with the stock market in Hong Kong.
“After we buy it for £35 million, about £30 million [will be invested].
"We have a plan. We think the first season we will struggle, but we hope to be playing in the top six or the top 10 in the first season.
“If I complete, I will only stay for three years - win or lose. One thing I can tell you is that I’ll be better than the regime that’s there now.”
Bassini received a three-year ban from the Football League from an independent disciplinary commission after they found him guilty of misconduct and dishonesty over his financial dealings during his 13-month time in charge at Watford.
He took over the Hertfordshire club from May 2011 to June 2012.
Bassini has also attempted takeovers of Charlton Athletic and Bolton Wanderers but now appears close to purchasing the Blues ahead of the new Championship season.
The Verdict
It has been a tumultuous period for Birmingham in recent years so a new owner to the club could be seen as a positive.
But this deal certainly had its red flags, especially given Bassini’s previous history in football.
If he can deliver on his promises then perhaps this could be the start of a bright few years for the club.
However, it is difficult to take these promises at face value so it will just have to remain to be seen how this deal will ultimately work out for Birmingham.