Friday, 20 July 2007

Betting Baron Buys Birmingham

As the takeover of the Premiership by individuals, partnerships or consortia with either previous or strategic betting market plans continues apace, today we take a look at "mysterious" Carson Yeung who this week increased his stake in Birmingham City to just under 30%.
Okay lets look at a few of the known facts about Hong Kong-based businessman Yeung.
Firstly, he allegedly made his money trading penny stocks which is simply not a feasible route to billionaire status.
Secondly, until he bought a 16.67% stake in Grandtop International Holdings, he was never on the records of the Hong Kong Stock Exchange. Indeed, Mr Invisible only really burst on to the scene in 2004 when he co-founded Greek Mythology, a Macau based casino that was known at the time to have close links to the underground and illegal Far East betting markets.
Thirdly, Yeung has some interesting associates. It came as no surprise that Stevie McManaman (who has, incidentally, never been anywhere near the global betting markets at any point in his long and "illustrious" career) was approached for being in charge of the day to day matters as Yeung launches his bid to take the club private and away from regulator's eyes.
Fourthly, how does a hairdresser create assets of over a billion pounds? Are perms particularly expensive in Hong Kong?
Fifthly, Steve Bruce is urgently seeking a meeting with Yeung and the absence of his inclusion in the takeover process to date would suggest that his days at Brum are numbered.
Sixthly, this is the tenth takeover in the Premiership that has resulted in club ownership being based on implementing a global betting strategy with respect to the individual clubs games.
Seventhly, Yeung's previous foray into ownership of a footie club was disastrous. He took over Hong Kong Rangers but his control lasted merely three games as he insisted on interfering in team selection matters.
Eighthly, the man has form even when one just chooses to judge his business activities away from the black market. In 2004, Yeung ran into trouble with the Hong Kong authorities and was prosecuted by the local financial regulator for failing to disclose his holdings in a company but was only ordered to pay a small fine.
Ninthly, the other potential bidding protagonist for Birmingham is equally cuddly Lakshmi Mittal who specialises in outrageous hostile takeovers and is even richer than Yeung. This battle may have more mileage in it.
As more and more clubs have gone private to avoid having to disclose financial strategies, profit and loss accounts and taxation issues to the financial markets, the likelihood of offshore activities in the underground Asian markets has inexorably increased. Jingoism has reared its ugly head throughout this process with the most fuss being generated by, firstly, the wave of dodgy Americans and, then, the recent Asian bids. A similar reaction to the takeover of Newcastle by Mike Ashley was remarkable through its absence.
The lack of action by the Premiership and, to a lesser extent, the FA is a complete disgrace. These faceless individuals have the stewardship of our great game in their hands and they insist on selling the game out to the very worst of the market sector participants - global betting market traders and bookmakers from Britain, Gibraltar, Israel, America, Russia and the Far East.
Mainstream media comment? Forget it. History is only written by the victors and contemporary press is only written by the acquiescent and edited by the corrupt.
I'll leave the final word to the billionaire barber: "I don't have any politics and I only want to buy for interest because I love football". If one were to exchange the word "football" for "money", this whole sorry episode would be more logical.

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