Birmingham City receivers weigh up seven takeover bids

 
Joe Hall
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Birmingham City have struggled on and off the pitch in recent years. (Source: Getty)

Birmingham City fans could soon see their club freed from years of boardroom turmoil after the club's parent company announced it had received two more takeover offers on top of the five already confirmed.

In a statement to the Hong Kong Stock Exchange, receivers Ernst and Yong who have been running Birmingham International Holdings Limited (BIHL) since February said it had "offers received and being considered".

The receivers said they were still in the process of assessing the merits of the offers, but hoped to soon come to an agreement with a potential investor.

Ernst and Young took control of the Championship club's holding company in February to help settle internal disputes between the fractious board, which was split between support and opposition to former owner Carson Yeung.

Yeung, who bought the club in 2009, is currently serving a six-year prison sentence for money laundering.

Although Birmingham have worked to drastically trim their wage bill since relegation from the Premier League four years ago, the Football League says it is content the club has enough funds to see out the season.

The stock exchange statement read:

The receivers are still in the process of assessing and analyzing the indicative non-binding offers, in which there is more than one party interested in acquiring the controlling stake of the company. The definitive terms of the offer are subject to further negotiation between the receivers and the interested parties.

The receivers intend to enter into an exclusivity agreement with a potential investor as soon as practicable.

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