Birmingham City Takeover Completed
EFL Championship football club Birmingham City has been bought by US-based Shelby Companies Limited (SCL).
A statement released by Knighthead Capital Management confirmed that the previously Chinese-owned club has new controlling shareholders.
It is reported that its ‘affiliate company’ SCL now owns 45.98% of Birmingham City Limited as well as full ownership of Blues’ ground St Andrew’s.
SCL is a subsidiary of the Knighthead Capital Management Group co-founded by financier Tom Wagner, who outlined his plans for the club in a letter to supporters in May.
The new ownership ends a tumultuous six-and-a-half tenure under Birmingham Sports Holdings (BSHL) an investment holding company owned by Chinese businessman Paul Suen.
However, in an open letter to the club’s supporters, Tom Wagner, Co-Founder and Co-Chief Executive of Knighthead, said, “The transition and implementation plans will take time.
“There will be bumps in the road but I ask that you get behind the leadership team guiding the club forward, be part of the alliance and continue to give every team that wears the shirt your passionate support.”
The new owner, who will be eager to takeover after the deal was agreed and released to supporters at the beginning of May, has confirmed that the Midlands club will resume upgrades of St Andrew’s stadium after developments stalled.
A statement from the club, said, “SCL has completed the transactions with the majority owners of Birmingham City Football Club, including Birmingham Sports Holdings Limited (BSHL), following approval by the shareholders of BSHL.
“SCL has assumed responsibility for all operations of the club and will provide the necessary funding to rebuild and set a new trajectory.
“SCL is committed to providing the resources, in line with English Football League guidelines, needed to deliver transformational change for the good of the club and the benefit of the city whose name it proudly carries.”
Birmingham City are the longest serving Championship club following their relegation from the Premier League in 2011.
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