There could be some good news on the horizon for Birmingham City, after it was revealed that a US hedge fund is looking to purchase the club for around £35m.

The New York based Knighthead Capital Management are behind the deal, with US businessman Tom Wagner, a co-founder of the company, the man who is set to be the figurehead for this project.

Who is Tom Wagner?

As mentioned, he is involved in the hedge fund that’s behind the deal, and they have assets that are valued at around $9bn, so he is certainly involved in some very big business deals.

He was co-founder, along with Ara Cohen, of Knighthead Capital Management, and he was previously managing director of Goldman, Sachs & Co.

Wagner does have links to sport as well, although it’s not exactly a sport that many Blues fans will know. He has bought a pickleball team, which is a sport that combines elements of tennis, badminton and table tennis.

Once again, this is another joint venture for Wagner, and there are some famous faces involved in buying the pickleball team, including American football legend Tom Brady and former tennis champion Kim Clijsters.

Nevertheless, this would be his first involvement in English football, and they are now looking to conclude a deal to buy the Championship side.

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Will Tom Wagner be good for Birmingham?

Of course, there’s a lot of unknown about Wagner, and what his plans will be for Blues. There has been some information linked, one of which claims a new stadium is in the pipeline for Blues, which would indicate that this is very much a long-term project for the prospective owners.

Whilst there will be that element of unknown about Wagner’s intentions, for many fans it will be a risk well worth taking, especially as it seems as though he will be operating from a sound financial position.

The current owners have made many mistakes over the years, which has caused Blues to lose points, and they’re still subject to sanctions from the EFL. Plus, parts of the stadium remain shut, as ongoing repair work is yet to be complete.

There was good news for all connected to the takeover in the week, as John Eustace’s men officially secured their safety in the Championship with an impressive 1-0 win over Millwall in the week.