Yeung sure he will pass FA test
Carson Yeung's takeover of Birmingham City is gathering momentum with the Hong Kong businessman confident of passing the Premier League's "fit and proper person" test.
Yeung, who has had an £81.5m bid for the club accepted, will submit his directors' declaration form within the next 48 hours hoping for approval to take the reins at St Andrew's.
This comes despite being his prosecution five years ago by the Securities and Futures Commission for failing to declare his interest in a company.
Blues fans bracing themselves for a new era of uncertainty as the little-known Yeung prepares to replace the Gold-Sullivan regime will also be concerned that the proposed new owner intends using a £57m bridging loan to complete the deal.
It is being stressed that this will be "a short-term measure" with Yeung confident the loan can be repaid as soon as a share issue is completed at Grandtop.
But the deal is now in full swing with Yeung's company Grandtop confirming that Blues co-owners David Sullivan and David and Ralph Gold, had agreed to sell their combined 50 per cent stake for about £40m taking Yeung's shareholding up to just short of 80 per cent.
The offer document will be sent to shareholders within the next fortnight and Yeung anticipates everything going through before the end of next month.
Manager Alex McLeish has been assured his position is safe although he will meet with MD Karren Brady – another expected to stay on – on Monday to "ascertain the full situation".
