Hong Kong businessman Carson Yeung has bought a major stake in Birmingham City, but he will not complete a takeover of the Midlands club.Yeung has concurred on a deal that sees him acquire 29.9 per cent of club's shares, after striking deals with Birmingham directors David and Ralph Gold, David Sullivan (pictured), Karren Brady and Roger Bannister.
The Golds and Sullivan have agreed to sell 14.81 per cent of the club's shares to Grandtop International Holdings Limited, while Brady has agreed to part with 0.23 per cent, with Bannister agreeing to sell 0.05 per cent.
All shares are to be priced at the ordinary share capital of 61.331 pence.
Yeung's significant investment in Birmingham is just the latest in a series of deals that have seen a number of Premiership clubs benefit from foreign backing.
Although Birmingham have stressed that a full-scale takeover will not take place, it has been speculated that Yeung will look to increase his stake in the club.
Should he acquire a further 30 per cent then he would be in a position to bid for complete control.
A statement to the stock exchange read: "Shareholders should be aware that there is currently no indication at this stage that a formal offer will be made for the company as a whole but discussions are continuing with GIHL which may or may not lead to a cash offer being made for the company in due course."
