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Please tell me when to stop laughing at SHA


Ryan.

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In trying to woo a lady Dr. Who fan (if I play my cards right, there may be dhutwu down the road), we got into a comparison of sports fandom with other fandom. She asked if there was bizarre football fanfiction, and a google turned up this site. Seeing that there was Craig Gardner fanfic, I clicked on this, which I can only assume is by a sha fan:

As Craig lies on his back on the Emirates turf, his thighs fitting so snugly between Denílson’s, he begins to feel glad he left Aston Villa. Stiliyan was never going to love him back, not when he had ‘big’ John Carew....

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Slash

In trying to woo a lady Dr. Who fan (if I play my cards right, there may be dhutwu down the road), we got into a comparison of sports fandom with other fandom. She asked if there was bizarre football fanfiction, and a google turned up this site. Seeing that there was Craig Gardner fanfic, I clicked on this, which I can only assume is by a sha fan:

As Craig lies on his back on the Emirates turf, his thighs fitting so snugly between Denílson’s, he begins to feel glad he left Aston Villa. Stiliyan was never going to love him back, not when he had ‘big’ John Carew....

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http://www.birminghammail.co.uk/news/local-news/birmingham-city-carson-yeung-exit-6298460

 

 

Carson Yeung exit moves a step closer as he writes off £15m loan to Birmingham City 13 Nov 2013 08:00

Potential for club sale rises as Blues owner waives debt in return for bigger stake in parent company Birmingham International Holdings

 
h_00236420-4804366.jpgCarson Yeung
Mirrorpix

Carson Yeung’s potential exit from Blues has moved a crucial step closer – with the writing off of a £15 million plus loan.

Yeung, currently on trial in Hong Kong on money laundering charges, has struck a deal to waive cash owed in return for an increased stake from 26.31 per cent to 27.63 per cent in parent group Birmingham International Holdings.

Blues fans reacted to the announcement of the agreement on the Hong Kong Stock Exchange with raised hopes that the move could finally sever Yeung’s direct links with St Andrew’s and clear the path for a sale.

Football finance expert Peter Knowles said: “I totally agree with Blues fans that any sale of the club would be made easier following this announcement.

“The Hong Kong parent company is basically insolvent, so the only way people can stop it being insolvent is by converting debt into equity. It does not have the ability to pay any money back.

“Carson Yeung is converting that debt into equity and the brokers are raising more money by further capital. The debt is being removed – Carson Yeung has lent money to the Hong Kong company and it does not have the money to repay him.

“My understanding is that Carson Yeung has given the money to the Hong Kong company and the Hong Kong company gave the money to its subsidiary, Blues.

“By converting his debt into shares it will make the Hong Kong company a going concern, and hence able to control any sale of the football club.

“Overall it will be better news for the club, but it is important to stress that no cash is going to Birmingham City.”

One Blues fan said on the respected Often Partisan website: “Most importantly, this means that Birmingham City can now be sold Yeung-debt free. This will make the club 1,000 times easier to sell.

“Once these agreements go through, prospective bidders will not have any excuses as to why they can’t complete.”

Yeung’s trial in Hong Kong is continuing after his defence team failed in a bid to have the case dropped.

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  • 2 weeks later...

Oh dear or what a shame again,

 

 

 

 

Birmingham International Holdings have released their accounts for the year ending June 2013 to the HKSE.

The accounts which are two months overdue, have been qualified with a disclaimer of opinion and show an operating loss of circa £10million. The auditors have said that they cannot sign off the accounts due to issues surrounding money owed to Vico Hui and the fact that they cannot confirm that the company is a going concern – something highlighted by the total liabilities outstripping the total assets by a quarter.

The accounts also confirm that there are no plans to dispose of Birmingham City Football Club.

The disclaimer of opinion will be a blow in the efforts of the directors to get the company relisted and it will be interesting to see how this affects the fundraising efforts made in recent weeks. A more detailed synopsis will be on the site tomorrow.

 

 

http://www.oftenpartisan.co.uk/archives/10317/bih-release-accounts.html

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Oh dear or what a shame again,

 

 

 

 

 

Birmingham International Holdings have released their accounts for the year ending June 2013 to the HKSE.

The accounts which are two months overdue, have been qualified with a disclaimer of opinion and show an operating loss of circa £10million. The auditors have said that they cannot sign off the accounts due to issues surrounding money owed to Vico Hui and the fact that they cannot confirm that the company is a going concern – something highlighted by the total liabilities outstripping the total assets by a quarter.

The accounts also confirm that there are no plans to dispose of Birmingham City Football Club.

The disclaimer of opinion will be a blow in the efforts of the directors to get the company relisted and it will be interesting to see how this affects the fundraising efforts made in recent weeks. A more detailed synopsis will be on the site tomorrow.

 

 

http://www.oftenpartisan.co.uk/archives/10317/bih-release-accounts.html

 

Well it is the pantomime season...

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So when can we realistically expect administration then? They must be flying pretty close to the wind now, this is the third set of accounts in a row now that havent been signed off, and the third time they have been unable to confirm that they are a going concern. Surely the Football League will have to step in at some point.

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Shocking stuff.

 

Over 60% of their turnover is from TV rights and their current liabilities are twice the size of their current assets.

 

Take the TV rights away and their operating expenses are more than 3 times their turnover.

 

It looks like some company called U-continent Holdings Limited is lending them money at 0.5% (the last time was earlier this month and for about £1.2m). Why they would do such a thing?

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