Hong Kong-owned Birmingham City under EFL investigation
- Blues have sold their St Andrews stadium to a subsidiary of ownership group to record US$11million loss
- Club were docked nine points last season and supporters group Blues Trust demand answers of board over latest charge
Hong Kong-owned English Championship side Birmingham City are under investigation by the English Football League, the club confirmed.
“The club confirms that it has been charged with a breach of EFL Regulations in relation to a business plan imposed upon us in the 2018/19 season,” read a statement from the club.
“The club denies the charge and we await the outcome of ongoing disciplinary proceedings. We shall be making no further comment at this time.”
Birmingham City’s accounts were finally published on January 6 and they included the revelation that the club had sold their St Andrews ground to a subsidiary of their Hong Kong-listed, Cayman Islands-registered ownership group, Birmingham Sports Holding Limited.
The deal saw the stadium sold to Birmingham City Stadium Limited, another company owned by Paul Suen Cho-hung, for £22.8 million (US$29.9 million) to bring pre-tax losses down to £8.4 million (US$11 million) last season, under the £13 million (US$17 million) ceiling permitted by the EFL.