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Signs not good as Birmingham City FC delay results

Football News 24/7
Birmingham City were today staring into a financial abyss after parent group Birmingham International Holdings postponed release of its financial results for a further three months.

The St Andrew’s club were left in no man’s land over future summer signings and other key finances after the parent group told the Hong Kong Stock Exchange the results would be delayed until the end of July.

The postponement of the results is likely to throw Blues' future plans into further turmoil, prolonging the transfer embargo imposed by the Football League due to concerns over the parent group’s finances.

BIH has now postponed the results announcement three times, in October, January and April, and failed to meet three pledges that the accounts would be issued. It has also issued a profit warning forecasting substantial losses, largely blamed on Blues’ relegation last year.

But the latest delay is likely to be seen as the last straw by thousands of Blues fan increasingly disillusioned with the Chinese owners. This despite the fact that the Blues are guranteed a play-off spot going into saturday's final round of Championship games.

It could well be that the owners need promotion back to the Premier League to guarantee finacial stability going forward.

LK

 

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