Italian consortium bids for Blues
An Italian consortium headed by former QPR owners Gianni Paladini and Flavio Briatore has made a bid for Birmingham City. One report states that a bid of £12m (which would be laughable) has been rejected, but the BBC is putting the bid at £25m.
This is short of the £40m leading shareholder Carson Yeung wants, having paid £81.5m for the club three years ago, There is also an outstanding loan of £7.8m owed to Birmingham International Holdings Ltd. which Yeung would want covered in any deal.
However, Yeung wants out and he faces trial on charges of £59m worth of alleged money laundering in November. There has been interest from investors in the Far East, but it has not amounted to a firm bid.
Paladani is based in Solihull near Birmingham. Some background on Briatore, who is a somewhat flamboyant figure and Paladani can be found here.