ARSENALNFRIENDS - Arsenal Forum for Arsenal Fans

Looks like there is another rich guy coming into the premier league.......Carson Yeung's takeover of Birmingham City moved a step closer to completion on Friday after the Premier League approved his appointment as a director of the Midlands club.

The Hong Kong businessman, along with associate Vico Hui Ho Luek, passed the organisation's 'fit and proper person test' and his bid to take control of the Blues can now proceed.

Earlier this week Yeung's company Grandtop International Holdings increased their share capital in the club to 81.7% with a view to the deal being finalised in early October.

A statement from Grandtop to the Stock Exchange read: "The Premier League has confirmed to Grandtop that it has no objection to Grandtop increasing its stake in Birmingham City PLC to over 30%.

I hope they dont go on a buying spreed and jack up prices of all players again.

Looks like asian waves are coming over to EPL.Maybe they will send Hong Kong national players to Birmingham instead!

Seems like loserfool is selling their soul further with a relevation that a Saudi prince is set to make a significant investment in an English side with pool the likely team.

Prince Faisal bin Fahd bin Abdullah has been linked with a bid, in order to help balance the books at Anfield, as Liverpool are experiencing financial difficulties under the ownership of American duo Tom Hicks and George Gillett.

"We are currently seeking to buy 50% of the shares in the club which is now suffering with debts worth £245 million," Fahd bin Abdullah, who chairs private firm F6 and a Saudi-based holding firm called Fama Group, was quoted as saying in Al-Riyadh.

"The transaction, upon which a decision is close to be reached, will be worth 200 to 350 million pounds."

hmmm.....

I heard it. I hope it's not true.

I don't think it will be long before most of the premiership is under foreign rule and although the money aspect and the excitement is great I don't think I want my club as a toy for some Saudi prince or whoever. If these guys were to walk away then it would leave clubs in a mess. They won't make the money back that they put in if they want their clubs to be winning trophies. All in all im rather undecided on the issue of wether its good or bad. Rumour has it Dave King will be making moves to takeover Rangers, Someone with money and not only that he's a Rangers man so thats exciting. The premiership is now just a playground for the mega-rich.

Arsenal will not be sold.