Birmingham football sale nears

RECEIVERS to the Manchester-based Kumar brothers expect to sell the Kumars' 84 per cent stake in Birmingham City Football Club to one of half a dozen serious bidders 'within the month', despite the brothers' refusal to resign from the Birmingham board.

Leonard Curtis, the receivers who were sent in last year by the liquidators of Bank of Credit and Commerce International to recover substantial loans by BCCI to the Kumars, have called an extraordinary general meeting of Birmingham City shareholders for 25 January in an effort to remove the Kumar brothers from the club's board.

Ramesh Kumar, with his brothers Bimal and Samesh, who originally owned 84 per cent of Birmingham City through their company BRS Kumar, are still on the club's board despite having dropped plans to buy it back from the receivers. Samesh remains the chairman.

When late last year the brothers rejected calls from Leonard Curtis that they resign, the receivers called the meeting.

Bidders for Birmingham City include Solihull Borough AFC, a leading light of the Beazer Homes League, which recently sold its ground in Solihull for more than pounds 3m. The cash is still in the bank because the club cannot gain planning permission for a new ground in Solihull, so it has turned its eyes on the Birmingham City site.

The millionaire Wrublewski brothers, the owners of the Birmingham Bullets basketball club, are also in the frame.

The deadline for declaring a serious interest in buying the Birmingham City club was 31 December 1992.

David Swaden, a partner at Leonard Curtis, said yesterday: 'We are very pleased with the progress to date. While there had been talk of some 60 different offers before Christmas, unsurprisingly, the majority of those have failed to materialise.

'However, enough have been prepared to put up a pounds 5,000 returnable deposit in return for confidential sale details and we are currently going through those. The Kumars are not among them.'

PROMOTED VIDEO
News
ebookA unique anthology of reporting and analysis of a crucial period of history
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

BA/PM,EMIR/Dodd-Frank,London,£450-650P/D

£450 - £650 per day + competitive: Orgtel: My client, a leading bank, is curre...

Senior Analyst - ALM Data - Banking - Halifax

£350 - £400 per day + competitive: Orgtel: Senior Analyst, ALM Data, Halifax, ...

Java developer - Banking - London - Up to £600/day

£500 - £600 per day: Orgtel: Java developer - Banking - London - Up to £600/d...

Liquidity Reporting-Basel III-LCR-Bank-£400/day

£400 per day + competitive: Orgtel: Liquidity Reporting - Basel III - LCR - Ba...

Day In a Page

Save the tiger: The animals bred for bones on China’s tiger farms

The animals bred for bones on China’s tiger farms

The big cats kept in captivity to perform for paying audiences and then, when dead, their bodies used to fortify wine
A former custard factory, a Midlands bog and a Leeds cemetery all included in top 50 hidden spots in the UK

A former custard factory, a Midlands bog and a Leeds cemetery

Introducing the top 50 hidden spots in Britain
Ebola epidemic: Plagued by fear

Ebola epidemic: Plagued by fear

How a disease that has claimed fewer than 2,000 victims in its history has earned a place in the darkest corner of the public's imagination
Chris Pratt: From 'Parks and Recreation' to 'Guardians of the Galaxy'

From 'Parks and Recreation' to 'Guardians of the Galaxy'

He was homeless in Hawaii when he got his big break. Now the comic actor Chris Pratt is Hollywood's new favourite action star
How live cinema screenings can boost arts audiences

How live cinema screenings can boost arts audiences

Broadcasting plays and exhibitions to cinemas is a sure-fire box office smash
Shipping container hotels: Pop-up hotels filling a niche

Pop-up hotels filling a niche

Spending the night in a shipping container doesn't sound appealing, but these mobile crash pads are popping up at the summer's biggest events
Native American headdresses are not fashion accessories

Feather dust-up

A Canadian festival has banned Native American headwear. Haven't we been here before?
Boris Johnson's war on diesel

Boris Johnson's war on diesel

11m cars here run on diesel. It's seen as a greener alternative to unleaded petrol. So why is London's mayor on a crusade against the black pump?
5 best waterproof cameras

Splash and flash: 5 best waterproof cameras

Don't let water stop you taking snaps with one of these machines that will take you from the sand to meters deep
Louis van Gaal interview: Manchester United manager discusses tactics and rebuilding after the David Moyes era

Louis van Gaal interview

Manchester United manager discusses tactics and rebuilding after the David Moyes era
Will Gore: The goodwill shown by fans towards Alastair Cook will evaporate rapidly if India win the series

Will Gore: Outside Edge

The goodwill shown by fans towards Alastair Cook will evaporate rapidly if India win the series
The children were playing in the street with toy guns. The air strikes were tragically real

The air strikes were tragically real

The children were playing in the street with toy guns
Boozy, ignorant, intolerant, but very polite – The British, as others see us

Britain as others see us

Boozy, ignorant, intolerant, but very polite
How did our legends really begin?

How did our legends really begin?

Applying the theory of evolution to the world's many mythologies
Watch out: Lambrusco is back on the menu

Lambrusco is back on the menu

Naff Seventies corner-shop staple is this year's Aperol Spritz