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Yeung in Birmingham cash pledge

Carson Yeung
Yeung failed with a bid to buy Birmingham in 2007

Hong Kong billionaire Carson Yeung has pledged to spend up to £5m of his own money on new players once his company takes over Birmingham City.

Yeung's company, Grandtop International Holdings, bid £57m for Birmingham last week but has yet to take full control.

"I have already contacted some players. I personally will invest £4m to £5m pounds," said Yeung.

Meanwhile, Grandtop's chief operations officer Sammy Yu confirmed Birmingham manager Alex McLeish will be kept on.

Yu also confirmed managing director Karren Brady will stay at St Andrew's once the takeover is complete.

Despite spending £20m on new players since winning promotion last season, McLeish claimed at the start of this campaign that his side were still not strong enough to survive in the Premier League unless more money was made available for new signings.

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Since then Birmingham have made a solid start to the new season, with a win over Portsmouth, a draw with Stoke and defeat by Manchester United.

Grandtop chairman Yeung said his initial goal is for Birmingham to stay in mid table of the Premier League this season before pushing on.

"When all the arrangements are in place, when strong players arrive, our results will improve," he added.

"Before the 1 September transfer deadline, I hope I can buy some useful players."

Yeung's company, which failed with a bid to take over Birmingham in 2007, already holds a 29.9 % stake in the club and is waiting for shareholders to take up the £1-per-share offer.

Grandtop appointed former Liverpool and England midfielder Steven McManaman to the company's board in July 2007.

And Yu said he expects McManaman to play a role under Birmingham's new ownership.

"Of course, when we have an icon like that, we hope he can contribute his knowledge about football to the club," he stated.

"I'm quite sure he will part of us in the day-to-day operation. Surely he will be our ambassador."



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see also
Hong Kong bid for Birmingham City
21 Aug 09 |  Business
Birmingham 0-0 Stoke
22 Aug 09 |  Premier League
McLeish pleads for more signings
14 Aug 09 |  Birmingham
Blues budget all spent - McLeish
20 Aug 09 |  Birmingham


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