More problems for Birmingham?

[phantom]

The English Football League says that it will be making enquiries with Birmingham City Football Club following the revelation by RFA earlier this week that Cambodian diplomat Wang Yaohui secretly controls an eighth of the club’s shares.

Under English Football League regulations, Birmingham City is obliged to disclose both to the league and publicly the identity of any person who directly or indirectly holds “any Significant Interest in the club.” Birmingham’s ownership disclosure does not name Wang, something that could cause problems for the club.

Contacted on Tuesday, the English Football League’s communications manager Billy Nickson indicated in an email that the league was looking into the issues raised in RFA’s report.

“All Clubs are aware of their obligations in respect of providing the appropriate and necessary disclosures in accordance with EFL Regulations,” Nickson wrote. “The EFL will take the matter up with the Club.”

The EFL Championship is English soccer’s second highest division. 

Born in China in 1966, Wang Yaohui is a naturalized Cambodian citizen and minister counselor at Cambodia’s embassy in Singapore. He has extensive business ties to one of Cambodia’s most powerful families, headed by ruling party Sen. Lau Ming Kan and his wife Choeung Sopheap. The couple are allies of Prime Minister Hun Sen.

Wang’s stake in the soccer club is held through a company listed on the Hong Kong stock exchange called Birmingham Sports Holdings Limited, which owns 75 percent of the club. In December 2017, Wang acquired 8.52 percent of Birmingham Sports Holdings through a British Virgin Islands company called Dragon Villa Ltd. In the years since, filings with the Hong Kong stock exchange show he increased his stake to 17.08 percent, giving him a 12.8 percent interest in the club itself. 

In its own disclosure statement, Birmingham City identifies Dragon Villa as being owned by a Chinese citizen named Lei Sutong. However, documents seen by RFA suggest that he is owner in name only.

Corporate secrecy laws in the British Virgin Islands make it virtually impossible for members of the public to ascertain who the true owner of Dragon Villa is. However, filings lodged with the Singapore High Court reveal that it is in fact Wang.

Gold Star Aviation Pte Ltd is a wholly owned subsidiary of Dragon Villa involved in the owning and operation of private jets. It is currently the defendant in a civil action in Singapore. Among its co-defendants is a Taiwanese-American named Jenny Shao, who Wang has granted power-of-attorney over his affairs since at least 2009.

In a sworn affidavit submitted by Shao’s lawyers on her behalf and dated October 2020, she describes herself as Dragon Villa’s “authorized signatory.” She adds that Dragon Villa “is beneficially owned by Mr. Wang.” A beneficial owner is a person who enjoys the benefits of owning a company, even if it is held in someone else’s name.

Former associates of Wang, who asked not to be identified citing security concerns, confirmed to RFA that Wang was Dragon Villa's beneficial owner. The statement is also echoed in other affidavits lodged as part of the Singapore court case. Records also show that Dragon Villa has been involved in the ownership networks of several other Wang-linked enterprises.

Should the EFL find the club violated regulations by failing to disclose Wang’s control of Dragon Villa – and therefore 12.8 percent of the club – then Birmingham City could face sanctions from the league.

TAKEN FROM : https://www.rfa.org/english/news/cambodia/wang-yaohui-stake-birmingham-city-soccer-club-06012022173022.html

 

[CliftonCliff]

Anyone with close ties to Hun Sen deserves to be regarded with extreme suspicion. The man presides over an odious, repressive and profoundly corrupt regime. The title 'Prime Minister' is misleading. He is effectively a dictator. When I travelled in Cambodia, I stayed briefly in the capital, Phnom Penh. On the second day, a small gathering of workers from the textile industry staged a peaceful protest against poor pay and conditions, as compared with those of similar workers in neighbouring Vietnam. Several of the protesters were unceremoniously gunned down by the PM's personal guards. As far as I know, nobody was ever brought to justice for these summary executions.

It will be interesting to see how the EFL reacts to the news that BCFC have (allegedly) failed to disclose that Wang is a significant shareholder with close association to the Cambodian regime. If past performance is anything to go by, they'll procrastinate in deafening silence for months on end and then do absolutely bugger all. I know nothing at all about Wang, other than what I've just read above, but judging from the company he keeps, having him on your register of shareholders is not a good look. 

[GrahamC]

Their whole ownership has been a shit show for ages.

The previous guy who got jailed in Hong Kong & never had the funds, followed by absentee Chinese (never a good idea) owners.

When you add in the shambles over parts of the ground being closed all last season & not sorted now, plus this, they are a mess.

[chinapig]

44 minutes ago, CliftonCliff said:

Anyone with close ties to Hun Sen deserves to be regarded with extreme suspicion. The man presides over an odious, repressive and profoundly corrupt regime. The title 'Prime Minister' is misleading. He is effectively a dictator. When I travelled in Cambodia, I stayed briefly in the capital, Phnom Penh. On the second day, a small gathering of workers from the textile industry staged a peaceful protest against poor pay and conditions, as compared with those of similar workers in neighbouring Vietnam. Several of the protesters were unceremoniously gunned down by the PM's personal guards. As far as I know, nobody was ever brought to justice for these summary executions.

It will be interesting to see how the EFL reacts to the news that BCFC have (allegedly) failed to disclose that Wang is a significant shareholder with close association to the Cambodian regime. If past performance is anything to go by, they'll procrastinate in deafening silence for months on end and then do absolutely bugger all. I know nothing at all about Wang, other than what I've just read above, but judging from the company he keeps, having him on your register of shareholders is not a good look. 

Football welcomes money from appalling regimes. Brum may get some minor sanction for failure to declare but the association with a murderous dictator is unlikely to bother the EFL I suspect.

[KegCity]

They’re falling apart as a club. Could easily go into free fall if they don’t survive the drop this season.

[shahanshahan]

2 hours ago, phantom said:

Wang’s stake in the soccer club is held through a company listed on the Hong Kong stock exchange called Birmingham Sports Holdings Limited, which owns 75 percent of the club. In December 2017, Wang acquired 8.52 percent of Birmingham Sports Holdings through a British Virgin Islands company called Dragon Villa Ltd. In the years since, filings with the Hong Kong stock exchange show he increased his stake to 17.08 percent, giving him a 12.8 percent interest in the club itself. 

In its own disclosure statement, Birmingham City identifies Dragon Villa as being owned by a Chinese citizen named Lei Sutong. However, documents seen by RFA suggest that he is owner in name only.

Funny that there's a reference to Villa in this, even if it's not THAT Villa...

[Bas's perfect hattrick]

That might be one relegation place sorted for next season

[Lew-T]

40 minutes ago, Bas's perfect hattrick said:

That might be one relegation place sorted for next season

We should have relegated them when we had the chance.

Can’t stand that club and city. 

[Bristol Rob]

1 hour ago, shahanshahan said:

Funny that there's a reference to Villa in this, even if it's not THAT Villa...

And the Dragons.

A clear reference to Harchester United. And no club was more batshit mental than Harchester.

[Lanterne Rouge]

3 hours ago, Bristol Rob said:

And the Dragons.

A clear reference to Harchester United. And no club was more batshit mental than Harchester.

Worse than Grimthorpe City managed by Evil Gus Parker?

[Bristol Rob]

24 minutes ago, Lanterne Rouge said:

Worse than Grimthorpe City managed by Evil Gus Parker?

Was it ever proven that he was behind the cardboard cut-outs with the hidden tape recorder?

[Lanterne Rouge]

1 minute ago, Bristol Rob said:

Was it ever proven that he was behind the cardboard cut-outs with the hidden tape recorder?

The EFL are still investigating........................................................

[Ring]

Wang

[Major Isewater]

1 hour ago, Ring said:

Wang

Kerr.

[Ska Junkie]

15 hours ago, Lanterne Rouge said:

The EFL are still investigating........................................................

It's 'imminent' then?

Brum seem to be a total basket case tbh. 

[Mr Popodopolous]

Good piece albeit with a couple of errors-errors were on the football side mostly.

https://www.football365.com/news/opinion-birmingham-are-circling-a-crisis-progress-on-preventing-it-has-been-slow

Edited June 3, 2022 by Mr Popodopolous

[Charlie BCFC]

On 02/06/2022 at 12:49, KegCity said:

They’re falling apart as a club. Could easily go into free fall if they don’t survive the drop this season.

They’d have gone down last season if it wasn’t for points deductions. Actually thought last couple of seasons they could’ve done alright but they’ve always found themselves sucked in a relegation battle. If there are no big changes at the club then I think this could be the year they drop 

[archie andrews]

9 hours ago, Ring said:

Wang

King.... 

[Leveller]

Wow. I didn't realise what an incredibly murky ownership situation they have landed in.

[P'head Red]

I did read their players were back in training the other day, which seems very early to me. 

[Littlesh*t]

19 hours ago, Charlie BCFC said:

They’d have gone down last season if it wasn’t for points deductions. Actually thought last couple of seasons they could’ve done alright but they’ve always found themselves sucked in a relegation battle. If there are no big changes at the club then I think this could be the year they drop 

I get what you are saying bug I don't get why this point get brought up. Derby and Reading had points deducted because they cheated. If they hadn't of  cheated it could be argued that they would have worse teams and still would have finished below Brum or anyone else. 

 

[Mr Popodopolous]

12 hours ago, Littlesh*t said:

I get what you are saying bug I don't get why this point get brought up. Derby and Reading had points deducted because they cheated. If they hadn't of  cheated it could be argued that they would have worse teams and still would have finished below Brum or anyone else. 

 

Spot on.

A chunk of the EFL v Birmingham case- ironic but they were the first to be done for FFP under the 3 year rule, summarised this point succinctly.

Won't bother to quote the paragraph or line number but a quick print screen of the relevant bits should suffice.

It was quite a nifty defensive argument tbh but one that was rightly knocked back- and the context of certain bits.

Essentially, if allowing one club to exceed without deterrence, this has a serious detrimental effect on the integrity of the competition and would be unfair.

One of their procedural defences was linked to the fact that no tangible sporting advantage was gained. This was a bit clever but quite rightly knocked back.

In other words, spending big and failing is one thing but failing is not a get out of jail- the mere act of overspending is the offence. If we or anyone else could have overspent to the same level that is impossible to measure and a punishment is therefore appropriate and proportionate.

Building on this- they argued there was nursing it back to health, the commission took the view that an overspend is an overspend.

Everton and their current potential breach- it has some real shades of this, arguments and defence wise least their fans take on it.

https://www.efl.com/contentassets/c79763f8e2174f4fb87200a371abf5fa/190322---efl-v-bcfc---decision---final.pdf

[sticks 1969]

On 02/06/2022 at 14:09, Lew-T said:

We should have relegated them when we had the chance.

Can’t stand that club and city. 

They had a free hit from us that day 

[Mr Popodopolous]

The latest is that Bassini  might buy them!

Talk of David Sullivan being involved somehow- despite his stake at West Ham. Safe pair of hands sure but he owns 38% of West Ham, how does that work?

Maybe I am getting wires crossed here but surely Sullivan can't be involved until he divests at West Ham?

https://www.efl.com/-more/governance/efl-rules--regulations/efl-regulations/appendix-3-owners-and-directors-test/

This maybe better?

https://www.efl.com/-more/governance/efl-rules--regulations/efl-regulations/section-10-association-and-dual-interests/

Edited June 13, 2022 by Mr Popodopolous

[Mr Popodopolous]

@ExiledAjax

Any thoughts on how this deal gets past dual interest, association rules and so forth?

Think the premise was that Sullivan would fund Bassini until he offloads his stake in West Ham in March, and also mention of Jack Sullivan being involved- but that's surely potential for a huge conflict of interest?

Edited June 13, 2022 by Mr Popodopolous

[chinapig]

38 minutes ago, Mr Popodopolous said:

Talk of David Sullivan being involved somehow- despite his stake at West Ham. Safe pair of hands sure but he owns 38% of West Ham, how does that work?

There was talk a while back that the guy who took a stake in West Ham last season might be looking to become majority shareholder. Possibly by buying Sullivan out?

[Mr Popodopolous]

2 minutes ago, chinapig said:

There was talk a while back that the guy who took a stake in West Ham last season might be looking to become majority shareholder. Possibly by buying Sullivan out?

Sure and if that happens and when it happens he is free to step in- but surely that can't take place until such time as he has divested either wholly or down to the required minimum at West Ham?

[ExiledAjax]

19 minutes ago, Mr Popodopolous said:

@ExiledAjax

Any thoughts on how this deal gets past dual interest, association rules and so forth?

Think the premise was that Sullivan would fund Bassini until he offloads his stake in West Ham in March, and also mention of Jack Sullivan being involved- but that's surely potential for a huge conflict of interest?

Not followed this one at all tbh mate.

First thing is that everything is allowed with written consent of EFL board, so that's one way it could be ok - basically get permisson.

The second way would presumably be that the parties involved prove to the EFL that there is enough distance between them to avoid any conflict. Something akin to the "legal assurances" that the PL got from PIF when they bought Newcastle. Whatever they did they showed enough independence and distance between PIF and the House of Saud.

That would be the two most obvious ways of the top of my head.

[Charlie BCFC]

23 hours ago, Mr Popodopolous said:

The latest is that Bassini  might buy them!

Talk of David Sullivan being involved somehow- despite his stake at West Ham. Safe pair of hands sure but he owns 38% of West Ham, how does that work?

Maybe I am getting wires crossed here but surely Sullivan can't be involved until he divests at West Ham?

https://www.efl.com/-more/governance/efl-rules--regulations/efl-regulations/appendix-3-owners-and-directors-test/

This maybe better?

https://www.efl.com/-more/governance/efl-rules--regulations/efl-regulations/section-10-association-and-dual-interests/

If Bassini comes close to Birmingham then they’re screwed. Even if it’s temporary, one look at his Wikipedia and he shouldn’t be near 

[Sir Geoff]

23 hours ago, Mr Popodopolous said:

@ExiledAjax

Any thoughts on how this deal gets past dual interest, association rules and so forth?

Think the premise was that Sullivan would fund Bassini until he offloads his stake in West Ham in March, and also mention of Jack Sullivan being involved- but that's surely potential for a huge conflict of interest?

Sullivan and Gould can not sell there stake in West Ham until a certain date ( you could be correct with March) without facing large financial comebacks re the stadium. I guess getting someone ( Bassini) to hold the candle til then would make some sense except if he (Sullivan) was providing the funds.