Radio Sandwell Local News

Fooball BCFC - Carson Yeung resigns as chairman of BIHL

2014-02-04 16:58:46

Carson Yeung

Birmingham City owner Carson Yeung has stepped down as chairman and executive director of the club's holding company, Birmingham International Holdings Limited (BIHL).

This latest announcement on 53-year-old Yeung's future was made in a statement to the Hong Kong stock exchange.

Yeung, Blues' owner since 2009, is the football club's major shareholder.

    • October 2009 - Following an initial failed attempt
      in 2007, Carson Yeung completed his £81.5 million
      takeover. Deal approved by Stock Exchange.


    • May 2010 - Alex McLeish leads Birmingham to ninth
      in Premier League


    • Feb 2011 - Birmingham beat Arsenal 2-1 to win the
      League Cup


    • May 2011 - Blues relegated. McLeish leaves for Aston


    • June 2011 - Yeung first appears in court on money
      laundering charges


    • May 2012 - Blues miss out in Championship play-offs
      on same day that acting chairman Peter Pannu announces
      that they are looking to attract new investment


    • October 2012 - Peter Pannu reveals two prospective
      buyers, including a consortium led by Midlands-based
      former QPR chairman Gianni Paladini


    • May 2013 - After an initial postponement Carson Yeung's
      trial opens in Hong Kong


  • Feb 2014 - Carson Yeung steps down from Birmingham's
    parent company BIHL - three weeks before verdict in money
    laundering trial is due.

He is awaiting the verdict, due on 28 February, in a money laundering trial in Hong Kong, an offence he denies.

Yeung has been succeeded as BIHL chairman by Cheung Shing, another of the company's executive directors.

Ma Shui Cheong, who has been appointed vice-chairman of BIHL, has also been given a place on the board at St Andrew's.

Yeung remains as club president, with the rest of the board made up of his son Ryan, acting chairman Yeung and Monday's two new appointments, Ma and Greek finance specialist Panos Pavlakis.

But, if Yeung is convicted of money laundering, he would have to resign from the Blues board or face being removed by the Football League under their 'fit and proper persons' test.

BIHL expressed its gratitude to their former chairman in a prepared statement, which said: "Mr Yeung, with his foresight, aspiration and clairvoyance, has steered the board successfully through landmark projects such as the acquisition of Birmingham City Football Club, for which the board is profoundly indebted.

"Mr Yeung unequivocally confirms that he has no disagreement with the board and that there are no other matters relating to his resignation that are required to be brought to the attention of the shareholders of the company."

Birmingham, who were relegated from the Premier League in 2011, currently stand 18th in the Championship, six points clear of the relegation zone ahead of Saturday's away game at 22nd-placed Charlton Athletic.


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