Gianni Paladini angry with Carson Yeung over sale of Birmingham City
Gianni Paladini, ex-boss of another English soccer club, angry deal hasn't gone through
As if Carson Yeung Ka-sing's current money-laundering trial wasn't causing enough trouble for the Hong Kong businessman, an Italian millionaire has now claimed that he signed an agreement to buy Yeung's English soccer club, Birmingham City, but that the deal isn't completed.
Gianni Paladini, the former chairman of Queen's Park Rangers, said he agreed with acting chairman and chief of parent company Birmingham International Holdings Peter Pannu last month to buy the club. Paladini claimed Pannu flew back to Hong Kong after a recent visit to Birmingham to put the proposal - believed to be worth £20 million (HK$249 million) - to Yeung, but after weeks of waiting the deal had still not gone through.
In an interview with Birmingham's Free Radio 80s, Paladini spoke of his frustration that the deal had not been completed.
"Before the game against Bolton [on October 5], I believed we had done the deal," Paladini said. "We were asked for proof of funds, which we provided. I have done everything they have asked me to do. The deal was done. I have got proof, signed by me and Peter Pannu. We came to an agreement. Peter Pannu left [for Hong Kong] … and I believed that the reason was to go and tell Carson Yeung about the deal. I haven't had one reply. I'm very disappointed that I have been treated really badly. It's very unprofessional. I have spent 15 months trying to do this."
In September 2012, a reported offer of £12 million by an Italian consortium led by Paladini was rejected by Pannu and the Birmingham board. Two months later, Pannu received a second, improved offer from the Italians to buy the club which, like Queen's Park Rangers, plays in the Championship, England's second-tier league.
Paladini told the British media that the sale was a done deal. Pannu flatly denied this. Fifteen months on, Paladini is still hoping an agreement can be reached.