http://www.dailymail.co.uk/sport/ar...inances-European-place-jeopardy.html?ITO=1490
As Inside Sport has catalogued in recent months, Birmingham's finances remain precarious and events this week suggest they are getting worse.
A statement to the Hong Kong Stock Exchange in relation to the club's parent company, Birmingham International Holdings, says BIH lost £5.2million in the six months to December 2010 and liabilities exceed assets by £27.5m.
As a result, BIH are searching for £24.5m of new capital but there is no certainty of the cash being raised.
Even if it is, it will be guaranteed against club chairman Carson Yeung's private property in Hong Kong.
The statement says: 'This situation indicates the existence of a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern and, therefore, the Group may not be able to realise its assets and discharge its liabilities in the normal course of business.'
Birmingham face financial meltdown if relegated from the Premier League and concerns over their viability even if they stay up.
If new funds or firm guarantees about next season are not in place by the summer, UEFA are likely to deny Birmingham their place in Europe.
Real Mallorca, of Spain's top division, became the highest profile victims of UEFA licence rules last year.
They were barred from the 2010-11 European club tournaments after going into administration and failing to assure UEFA that they would last this season.
This is very worrying as to me as a fan of this club even if it is Daily Mail
As Inside Sport has catalogued in recent months, Birmingham's finances remain precarious and events this week suggest they are getting worse.
A statement to the Hong Kong Stock Exchange in relation to the club's parent company, Birmingham International Holdings, says BIH lost £5.2million in the six months to December 2010 and liabilities exceed assets by £27.5m.
As a result, BIH are searching for £24.5m of new capital but there is no certainty of the cash being raised.
Even if it is, it will be guaranteed against club chairman Carson Yeung's private property in Hong Kong.
The statement says: 'This situation indicates the existence of a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern and, therefore, the Group may not be able to realise its assets and discharge its liabilities in the normal course of business.'
Birmingham face financial meltdown if relegated from the Premier League and concerns over their viability even if they stay up.
If new funds or firm guarantees about next season are not in place by the summer, UEFA are likely to deny Birmingham their place in Europe.
Real Mallorca, of Spain's top division, became the highest profile victims of UEFA licence rules last year.
They were barred from the 2010-11 European club tournaments after going into administration and failing to assure UEFA that they would last this season.
This is very worrying as to me as a fan of this club even if it is Daily Mail