Birmingham City soccer club's HK-based director quits after bizarre online rants

Embattled Hong Kong businessman Peter Pannu on Friday resigned as director of Birmingham City Football Club as controversy continued over a series of online posts he made a week earlier.

Pannu, right-hand man of former club boss and convicted money launderer Carson Yeung Ka-sing, sparked alarm by suggesting the club could run out of money as early as next month due to a £1.8 million (HK$21.8 million) tax bill.

His meandering posts on supporters' website Often Partisan - which ran to more then 1,000 words - also suggested Yeung still influenced club decisions. Yeung is barred from any involvement in club affairs due to his conviction, although he still holds a significant stake in the club's holding company.

The posts sparked concern among fans and investors and prompted the club to put out a statement categorically denying the bankruptcy claims.

Days later, trading was halted in the shares of Birmingham International Holdings, the Hong Kong-listed parent company.

Pannu did not respond to inquiries by the Sunday Morning Post.

However, a terse, two-sentence statement posted on the team's website confirmed Pannu's departure. "The resignations have been accepted with immediate effect by the boards of Birmingham City PLC and Birmingham City Football Club," the statement read.