The company that controls Birmingham City has revealed via the Hong Kong Stock Exchange that it has received five offers for the club.
Ernst and Young, who control the holdings company that own Birmingham City, released a statement saying they’re ‘exploring all strategic options’ in relation to the bids.
The statement does not give definitive proof that there has been an offer for a takeover, but more likely a division of shares should an offer be accepted.
The statement read: “the receivers have received five indicative non-binding offers from independent third parties in relation to possible acquisition of an interest in the company and/or Birmingham City plc.
“The Receivers will make additional announcement(s) as and when appropriate. Shareholders of the Company and potential investors are advised to exercise caution when making any decision related to dealing in the shares of the Company,” the statement concluded citing that no formal agreement had been met.
With the introduction of Gary Rowett as manager, the Blues have recovered to a safe position in the Championship after a poor start to the season where they lost 8-0 to Bournemouth. The financial safety of the club has also recovered – after the imprisonment of former owner Carson Yeung – argue Ernst and Young, stating earlier this month that sale of the club would be a ‘last resort’.