BIH Announce Progress
The Hong Kong owners of Birmingham yesterday announced that interested parties in the club had completed the due diligence test, basically a series of checks made to ensure everything is as stated with the club.
It has been quite some time now that Birmingham International Holdings have been searching for a buyer and with Carson's trial adjourned for another three months, it looked even less likely for a continued Yeung ownership of the club (not that anyone wants that).
The interesting thing about the statement is they make it clear no formal bids have been made, so I really would not get excited about this news at all.
Why? I hear you ask, well its quite simple, how many people do you think waste car salesmen's time test driving a car they pretty much know they aren't going to buy unless it WOWS them? A LOT and well why shouldn't they waste that time, its their money they are perfectly entitled to evaluate a purchase. Which is what I would point out, these tests are just people kicking the tyres of the club!
I would take a positive in the fact that Blues have completed the due diligence and its just another hoop jumped on what is seeming like a long road to a new owner, but again, it is nothing concrete (although I could be totally wrong).
One thing I can probably guarantee is that what ever happens, we aren't going to have a clue about it until it happens, the stock exchange has all kinds of limitations on what can and can't be revealed and as a result parties just release the bare minimum.
So basically, someone or maybe several parties are looking at Blues and giving it a bit of a poke but just as always we must sit, wait and be surprised when we're told at the last minute.
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