Gianni Paladini has declared his Birmingham City takeover is definitely on – after a rollercoaster 24 hours in which he threatened to walk away from the club.
The Solihull-based businessman had originally expressed his hope that a deal could be struck for Blues within 10 days.
He then publicly declared his consortium's interest in the club was dead – only to later change his mind and insist his group was still keen to buy Blues.
Paladini was incensed when Blues acting chairman Peter Pannu denied officials were in “active negotiations” with the Italian and his associates.
Pannu’s statement was released on the club’s website after Paladini said that his consortium wanted to strike a deal within ten days.
Responding to Pannu’s quotes, Paladini first insisted an offer for the club had been tabled but warned he would not “waste his life” waiting for a resolution.
“In ten days we will move in and buy the club,” he said. “If it doesn’t happen then goodbye, we move on.”
Then Paladini raised the stakes – appearing on radio to insist the deal was dead.
He told Free Radio: “I’ve been very open but we’re at the point if he doesn’t want to sell, if he’s got another buyer, good luck.
"We are very disappointed. After three months work, nothing happened."
But within hours his stance had softened.
He said he still wanted to buy Blues but insisted the ball was in Pannu’s court.
“When he (Pannu) came up with that statement, I couldn’t believe it,” Paladini said.
“I could show the public all the documents and the details of our bid if I wanted to.
“It put me into an embarrassing situation with my backers – they think I’m inventing everything!
“We still want to do the deal.
“All Peter Pannu has to do is say yes and we can move in. We are ready.
“But we are not prepared to let it go to January, it has to be soon.
“Ideally we would like to know in seven days.
“We don’t want to be going into a club that might be in a situation towards the bottom of the league struggling a bit and selling the best players.
“If Peter calls me, we can do this pretty quickly. The ball is in his court.
“I’ve been depressed and upset about this situation. It’s making me ill.
“I want us to come in and help the club, do a good job and make everybody happy.
“I have a real feeling for Birmingham City but we can’t wait around forever with all this kind of thing going on.”
Paladini’s consortium formally lodged a second, improved, bid of around £30 million, including a £17 million down payment, for the club almost a fortnight ago.
Although it was rejected, negotiations continued about its structure.
But Paladini was angered by Pannu’s statement, in which he urged fans not to rely on “rumours and speculation”.
Pannu said: “There are no active negotiations with the group involving Gianni Paladini or any of his associates.
“Should there be any agreement reached, there shall be formal announcements made in Hong Kong and also in the UK.
“I would urge that only official information should be relied upon and not rumours or speculation.”