Wednesday 17th of December 2014
The Car Hire Birmingham Airport depot which has some of the loyal supporters, are wondering how the cash shortfall will be plugged.
The accounts at Birmingham City football club had expected money to come from Birmingham International Holdings in Hong Kong, but this was scrapped in October. There has been no update on where the cash is going to come from.
Birmingham City needs £4.4 million to keep going according to their latest accounts but it is unclear how parent firm Birmingham International Holdings will find the cash. The accounts state the money was to come from BIHL thanks to a £9.2 million convertible bond issue in Hong Kong but this was scrapped in October.
But club sources are understood to be comfortable with the cash flow situation with costs being brought under control and the promise of further funds from the parent company.
The financial worry comes just two weeks after former acting chairman Peter Pannu sensationally claimed Blues could run out of cash within weeks because of a possible £1.8 million tax bill.
That claim was strenuously denied by the club who said in statement “It would be inappropriate for the club to comment on specifics, however the club wishes to allay any fears that may now arise on the basis of the allegation there will be no funds beyond January/February 2015, this is categorically refuted.”
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