- My Account
- Logout
- Register
- Login
Yeung demands that McManaman becomes St Andrews' latest City slicker
Related Articles
07 February 2008
The businessman, who bought a 29.9 per cent stake in the St Andrew's club for £15million late last year, is exercising his right as the single biggest stockholder to be recognised by current owners, David Sullivan and David Gold.
Yeung was snubbed by the two current owners after he failed to meet the deadline to mount a complete takeover of the struggling Barclays Premier League club.
But it seems he is determined to have a voice and has petitioned other shareholders in the public company to ensure his investment is represented on the current board.
Former Liverpool legend McManaman is a director of Grand Top International, the holding company used by Yeung to front the bid. But it seems that Yeung's overtures will be met with stiff resistance.
Sullivan and Gold own almost 50 per cent of the stock between them and are likely to reject the advances of the oil and gas magnate out of hand.
One source close to Birmingham said: "Yeung looks to be trying to flex his muscles as the club's biggest single shareholder. He wants to appoint two people to the board, but the owners cannot see the purpose.
"He may have 29% of the club but the control lies with the current board who have 47%. Yeung will not be offered a seat on the board but he appears to be testing their resolve.
"They know they are having a difficult time this season but a lot of the reasons for that are of Yeung's own making. It was Yeung's takeover attempt and the uncertainty of that which eventually saw Steve Bruce leave.
"The board had to appoint a new manager midway through the season so the directors are not very happy with Yeung anyway.
"But to then try and bring two new directors into the club to work with people who've been here 15 years is just being seen as potty. The board will oppose it."
Brady, in a letter to shareholders, said: "We are legally obliged to put these resolutions to shareholders, even though we do not support them, nor do we believe the appointments are in the best interests of the company.
"Whilst we recognise that both the proposed appointees (McManaman and Zhiyi) enjoyed illustrious football careers at respected clubs, we question whether they have the necessary business experience to make an effective contribution as directors of a public company.
"Moreover, we question whether the actions of Grandtop (Yeung's company) are in the best interests of the company and its' shareholders. Accordingly, your board recommends that shareholders vote against the resolutions."
Comments
Top stories in Sport
Top stories in Sport
-
London gets ready for the Diamond Jubilee - in pictures
-
EXCLUSIVE: I won't play with Joey Barton, says Adel Taarabt
-
Diamond Jubilee: Boat by boat, here is where to watch the Queen's Thames flotilla - VIDEO
-
Duchess of Cambridge is pretty in pink at her first Buckingham Palace garden party
-
News pictures of the day
-
Locked up and banned: The Tube drunk whose vile racist rant was caught on film (video)
-
London 2012 Olympics: Raising the bar and the Games haven't even started yet. Price of toasting Team GB is £6 a pint! -
Timebomb ticking in Thames Estuary could put Boris Island plans in jeopardy -
Duchess of Cambridge is pretty in pink at her first Buckingham Palace garden party
-
Regent’s Park rapist: Teenage jogger assaulted by stranger in terrifying 7am attack
The O2
Check out the cool stuff happening under our tent such as the hottest gigs, comedy, sport, films, clubs, bars, restaurants and much more.
A home to be proud of with Halifax
Download the Halifax's brilliant, free new Home Finder app, and take all the pain out of finding your dream home.
Can you imagine a career in teaching?
Be inspired to teach - let real teachers show you how rewarding the job can be.
Playing a game-changing role during the Games
Cisco is providing the solutions for London 2012's complex IT needs.
Win a Silverstone track day with Zantac 75
Feel the burn of a different kind - 20 Silverstone motoring experiences to be won
Celebrate with MARTINI®
This weekend toast one royal with another and make your Jubilee sparkle with a MARTINI Royale.
Reader Offers email A fantastic selection of
offers, giveaways and
promotions.
Why I think doctors are right to strike
Family pay tribute to the London man who gave his life to save a five-year-old girl from drowning
Eton schoolboys fly Games flag on Everest
Horror on the 5.53! Commuter dragged 200 feet after getting hand trapped on train
Shrimpy's - review