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Yeung's Blues takeover approved

Carson Yeung
Yeung was welcomed by fans at St Andrew's last month

Hong Kong businessman Carson Yeung's takeover of Birmingham City has been rubber-stamped by the stock exchange.

Shares in the club were delisted on Wednesday confirming Birmingham's status as a private business.

Yeung took charge at St Andrew's last month two years after making his first, failed bid to gain control of the club.

The billionaire tycoon has said manager Alex McLeish will have around £40m to help keep the club, currently 15th in the table, in the Premier League.

A statement from the City said: "In line with the notification of the company's delisting that was made on 14 October 2009, the Company is delisted so that its shares are no longer admitted to trading on AIM."

The statement also confirmed Yeung, Vico Hui and Michael Wiseman as the sole directors of the company and club boards.

606: DEBATE
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Despite spending £20m on new players since winning promotion last season, McLeish claimed at the start of the league campaign that his side needed strengthening to survive in the top-flight.

Final approval of the takeover will be good news for the Scottish boss, following Yeung's pledge in August that he would spend up to £5m of his own money on new players, and new vice president Sammy Yu adding last month that McLeish's job was safe.

The Blues have won three, drawn three and lost six in the season's opening twelve games and are currently two points above the relegation zone.



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see also
Gold cautions Yeung on price cut
14 Oct 09 |  Birmingham
McLeish is part of new Blues - Yu
13 Oct 09 |  Birmingham
Liverpool 2-2 Birmingham
09 Nov 09 |  Premier League
McLeish excited by Blues takeover
06 Oct 09 |  Birmingham
Premier League approval for Yeung
25 Sep 09 |  Birmingham
Hong Kong bid for Birmingham City
21 Aug 09 |  Business
Yeung puts deposit on Birmingham
20 Aug 09 |  Business
Yeung in Birmingham takeover bid
12 Aug 09 |  Birmingham


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