Birmingham City’s parent company have announced their interim results once again confirming their dependence on loans from their Far Eastern owners.
Birmingham Sports Holdings, who own virtually all of Birmingham City plc, revealed the latest figures, which run up to December 31, 2017, on the Hong Kong Stock Exchange on Wednesday afternoon UK time.
They reveal large losses of around £17m between the end of June and December last year, basically a period of frenetic activity in the transfer market.
They also reveal that major shareholders Trillion Trophy Asia are not the only organisation investing money in the company.
TTA have been joined by Dragon Villa Limited - all of whose loan had been drawn down - and Chigwell Holdings Limited - about half of whose loan had been taken - in putting money into BSH.
However, despite the losses the accounts - which are yet to be audited - say: “The Directors consider that, after taking into consideration of the above measures, the Group will have sufficient funds to satisfy its future working capital requirement and other financial obligations as and when they fall due in the foreseeable future.”
Steve Cotterill latest
Steve Cotterill is scheduled to complete his usual pre-match media duties ahead of Birmingham City’s clash with Nottingham Forest this weekend.
The Blues boss’ future has been the subject of intense speculation this week following a run of four straight, goalless Championship defeats.
Blues fans reacted with hostility at the end of Saturday’s 2-0 loss to Barnsley and a bottle was thrown at the former Bristol City manager.
There have been several stories this week suggesting the club are considering their options but unless there are further developments a club advisory revealed Cotterill is scheduled to conduct this week’s press conference.
Attempts to contact the directors to ascertain their thinking on the issue have so far been fruitless.
However, the parent company's chief executive Zhao Wenqing is believed to be attending meetings in London on Wednesday with several pressing issues no doubt on his agenda - one of which could be Cotterill's future.
Cotterill has been preparing his team to return to another of his former clubs on Saturday, in the knowledge that he could have more options in midfield.
Maikel Kieftenbeld is back after his suspension, while it is hoped David Davis will be available again after missing the last three games with a knee injury.
Areas of concern
A Blues supporter group has handed a list of questions to Birmingham City in the hope they will be addressed at today’s forum.
Representatives of the club are due to meet with the Blues Trust and other fan organisations as part of the quarterly supporter engagement protocols.
And the Blues Trust have revealed they have informed Blues of five areas of concern where they hope to be given answers this evening as they seek to address 'obvious difficulties at board leve'.
* The opportunity to become stakeholders in the club’s parent company Birmingham Sports Holdings.
* The lack of transfer activity in the January window.
* Plans to ensure compliance with Financial Fair Play regulations.
* Clarification regarding the club’s ownership
* A failure to address concerns at previous forums and fan access to or representation at board level
The Trust promise: “If it transpires that these questions are not answered satisfactorily then we will be asking for our fellow supporters’ help – help to ask them again and again, and keep asking them until we receive the answers we all need to hear.
“Finally, we would like to make it explicitly clear that the Trust remain extremely supportive of the day-to-day BCFC staff, and would like to offer our praise and thanks for their fantastic efforts under incredibly difficult conditions.
"The root of our concern arises only from the obvious difficulties at Board level, which are having a detrimental effect across the entire Club.”