Karren Brady and David Sullivan set to leave Birmingham

Birmingham chief executive Karren Brady and PLC chairman David Sullivan will leave the club if Hong Kong businessman Carson Yeung completes his takeover of the club.

The pair confirmed their intentions this morning, and will end 16-year associations with Birmingham providing the deal goes through.

Yeung has formally lodged his bid for Birmingham after sending out official documents to shareholders offering £1 per share.

His company, Grandtop International Holdings, already owns 29.9% of the club and, with co-owners Sullivan and the Gold brothers, David and Ralph, having indicated they will sell their 50% stake, Yeung is already well on the way to taking complete control.

The first closing date of the offer is October 6.

Brady, who has accepted a television role on The Apprentice, said: "It was a hard decision for me to make to leave the club after so long but, with the new change in ownership, I feel the time will be right for me to move on and pursue my other ventures.

"Grandtop have asked me to retain my position as CEO but I honestly feel they must be allowed to stamp their own mark on the club and I believe that this is best done without the current board looking over their shoulder."

Although David Gold is set to stay on as chairman, Brady believes the time is right for her to depart.

She added: "I leave with very fond memories of the past 16 years; I arrived with David Sullivan in 1993 and I want to leave with him. Whatever he does in the future, you can rest assured I'll be standing by his side."

Sullivan could be on the look-out for a club to invest in, once he leaves Birmingham.

He said: "I intend to remain in football, so following the takeover I will be looking for a new challenge where my experience, my success and sound business acumen will make a difference."

Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
SPONSORED FEATURES
Independent Dating
and  

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

Day In a Page

Solved after 200 years: the mysterious deaths of 3,000 soldiers from Napoleon's army

Solved after 200 years

The mysterious deaths of 3,000 soldiers from Napoleon's army
Every regional power has betrayed the Kurds so Turkish bombing is no surprise

Robert Fisk on the Turkey conflict

Every regional power has betrayed the Kurds so Turkish bombing is no surprise
Investigation into wreck of unidentified submarine found off the coast of Sweden

Sunken sub

Investigation underway into wreck of an unidentified submarine found off the coast of Sweden
Instagram and Facebook have 'totally changed' the way people buy clothes

Age of the selfie

Instagram and Facebook have 'totally changed' the way people buy clothes
Not so square: How BBC's Bloomsbury saga is sexing up the period drama

Not so square

How Virginia Woolf saga is sexing up the BBC period drama
Rio Olympics 2016: The seven teenagers still carrying a torch for our Games hopes

Still carrying the torch

The seven teenagers given our Olympic hopes
The West likes to think that 'civilisation' will defeat Isis, but history suggests otherwise

The West likes to think that 'civilisation' will defeat Isis...

...but history suggests otherwise
The bald truth: How one author's thinning hair made him a Wayne Rooney sympathiser

The bald truth

How thinning hair made me a Wayne Rooney sympathiser
Froome wins second Tour de France after triumphant ride into Paris with Team Sky

Tour de France 2015

Froome rides into Paris to win historic second Tour
Fifteen years ago, Concorde crashed, and a dream died. Today, the desire to travel faster than the speed of sound is growing once again

A new beginning for supersonic flight?

Concorde's successors are in the works 15 years on from the Paris crash
I would never quit Labour, says Liz Kendall

I would never quit party, says Liz Kendall

Latest on the Labour leadership contest
Froome seals second Tour de France victory

Never mind Pinot, it’s bubbly for Froome

Second Tour de France victory all but sealed
Oh really? How the 'lowest form of wit' makes people brighter and more creative

The uses of sarcasm

'Lowest form of wit' actually makes people brighter and more creative
A magazine editor with no vanity, and lots of flair

No vanity, but lots of flair

A tribute to the magazine editor Ingrid Sischy
Foraging: How the British rediscovered their taste for chasing after wild food

In praise of foraging

How the British rediscovered their taste for wild food