The inability of Blues’ parent company to file its annual accounts should not have an adverse direct impact on the club.
Birmingham International Holdings Ltd have announced to the Hong Kong Stock Exchange that their figures for the year ending June 2011 have been delayed, yet again.
It’s the fifth time this has happened and if – and it’s a big ‘if’, going by past experience – they are revealed on the new predicted date of October 31, the figures will be 13 months overdue.
Blues were placed under a transfer embargo by the Football League after missing a March deadline for their accounts.
But that was lifted after 125 days following the publication of Blues plc accounts for the year ending June 2011, which showed a £10.6million loss for the Carling Cup-winning campaign, which ended in relegation from the Premier League.
Blues made representations to League chiefs to show how they had sorted out their finances, and outlined their projections – the so-called ‘future financial information’ – to allay fears that they were heading for administration or collapse.
Player sales since relegation, which has brought in £35m, and a slashing of the wage bill, meant Blues could continue as a going concern last season, despite lack of backing from Carson Yeung, whose assets are frozen, and BIHL.
The League could have demanded to see BIHL’s accounts but they were satisfied with what they were told and how those at St Andrew’s were going about matters so prudently and efficiently.
So it is highly unlikely that the League will now slap a transfer embargo on Blues once more.