Birmingham City owner Yeung looks to inject funds

Obafemi Martins and Birmingham celebrate after an Arsenal mix-up Obafemi Martins scored the winning goal against Arsenal

Birmingham City owner Carson Yeung is to pledge personal property as security to bring fresh income to the club.

Holding firm Birmingham International Holdings (BIH) told the Hong Kong Stock Exchange that liabilities exceeded assets by £27m.

This indicated "a material uncertainty that may cast significant doubt on the group's ability to continue as a going concern", BIH said.

On Sunday, Birmingham won the Carling Cup 2-1 against Arsenal at Wembley.

It was the club's first silverware since 1963.

On Friday, a spokesman has said there were "no problems" with day-to-day operations at the club.

Mr Yeung, the major shareholder in BIH, is to put Hong Kong property up as security for an £11.8m loan.

According to BIH, Yeung's funds will "provide sufficient financial resources" to allow the business to continue "without significant curtailment of its operation".

The holding company also intends to bring in working capital of £24.4m.

Some £7.1m will come from a financial institute and £17.3m from making new shares available in the company.

Meanwhile, BIH also said there was a player pool bonus for the squad should they retain their Premier League place.

More on This Story

The BBC is not responsible for the content of external Internet sites

More Business stories



  • The OfficeIn pictures

    Fifty landmark shows from 50 years of BBC Two

  • French luxury Tea House, Mariage Freres display of tea pots Tea for tu

    France falls back in love with tea - but don't expect a British cuppa

  • Worcestershire flagFlying the flag

    Preserving the identities of England's counties

  • Female model's bottom in leopard skin trousers as she walks up the catwalkBum deal

    Why budget buttock ops can be bad for your health

  • Two women in  JohanesburgYour pictures

    Readers' photos on the theme of South Africa

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.