Championship side Birmingham City confirm takeover
Birmingham City have confirmed that US company Shelby Companies Ltd has completed it's takeover of the club.
Knighthead Capital Management LLC (Knighthead), through its affiliate Shelby Companies Limited (SCL), has completed the transactions with the majority owners, including Birmingham Sports Holdings Limited (BSHL), following approval by the shareholders of BSHL.
SCL, with immediate effect, has acquired full ownership of St. Andrew’s and 45.98% ownership of Birmingham City Limited.
SCL has assumed responsibility for all operations of the Club and will provide the necessary funding to rebuild and set a new trajectory for the Club.
The current Board said: “We are pleased to have completed the transactions with Knighthead, through Shelby Companies Limited, and look forward to the next chapter of Birmingham City’s history.”
The club also confirmed that new additions to the Club’s leadership team, infrastructure improvements and a new commercial partner will be announced in the coming days.
Thomas Wagner, Knighthead Co-founder Co-CEO said in a letter to the Birmingham fans, "This brings to an end many months of hard work. It has been a complex negotiation. It was worth it. The focus is now on creating a world-class experience for our loyal, resilient, and passionate supporters. You can look forward with optimism."