Boris Johnson urged to block ex-Watford owner Laurence Bassini’s controversial Birmingham takeover bid
TRUE BLUE Boris Johnson has been urged to block Laurence Bassini's controversial bid to buy Birmingham City.
Shabana Mahmood, Labour MP for Birmingham Ladywood, has urged the Government to intervene and keep its promise to put football fans first by banning the sale.
Mahmood, who represents the Ladywood constituency, which includes the troubled St Andrew's club, commented: “I am disappointed to read this week that Laurence Bassini is close to sealing a deal to purchase Birmingham City Football Club.
“For years, Blues fans have watched with devastation as financial and professional mismanagement has driven their beloved club to the brink.
“After meeting with top officials at the club and fans this year, I was hopeful that the club might turn a corner.
“Bassini has a history of bankruptcy, failed takeover bids, and legal action against struggling clubs.
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"His track record is exactly the reason why football needs a strong regulator and a more robust process to decide who can be a club owner or director.
“If the Government really wanted to make good on its promise to put football fans first they would step in and stop this deal from happening."
Former Watford owner Bassini claims he has exchanged contracts over a £35m purchase of the long-time Championship strugglers and is on the brink of completing a takeover.
He plans to bring the club under his full ownership within two years, in a two-tier takeover but has yet to make a £5m down payment or show proof of funds.
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The Hong Kong Stock Exchange has announced that shareholder Vong Pech has sold around 21 per cent of his stake in the Midlands club, but it has not been confirmed who has snapped them up.
Blues have been owned by Hong Kong-based parent company Birmingham Sports Holdings Ltd since October 2016 but have lurched from one crisis to another, fuelling fan unrest.
A rival bid by Blues fan and businessman Paul Richardson could yet step in at the 11th hour, with any deal subject to EFL approval.