Sullivan to sell stake in Birmingham
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Your support makes all the difference.Birmingham City have been put up for sale by owner David Sullivan, only days after the First Division club's majority shareholder declared that he was "worn out" by the abuse he has received from supporters.
A statement to the City yesterday revealed Sullivan's Sport Newspapers Limited are seeking "potential purchasers" for their 77.96 per cent stake in Birmingham, who are currently managerless after sacking Trevor Francis last week.
The former England striker has already been linked with a swift return to the club he managed for five-and-a-half years, this time as part of a consortium interested in buying City.
A statement released by the club's plc said: "The company has today been advised that Sport Newspapers Limited intends to seek interest from potential purchasers for its entire shareholding in the company amounting to 62,371,750 ordinary shares representing 77.96 per cent of the issued share capital of the company."
Following his departure last week, Francis said: "Whilst I am no longer the manager of Birmingham City, I will always be a Bluenose. In fact I believe that our paths will cross again. I don't think it's finished yet."
Sullivan rescued Birmingham from deep financial problems when the newspaper and magazine publisher bought the club for around £1m after it went into receivership in March 1993. It is now worth over £21m after Sullivan invested heavily, developing the ground and overhauling the squad under Barry Fry and then Francis.
However, despite his large outlay, the owner of the Daily Sport was never truly accepted by Blues supporters as the club failed to reach the Premiership, failing in the play-offs in the last three seasons.
His frustration was apparent in the aftermath of Francis' dismissal when he launched a stinging attack on the former manager and criticised Birmingham fans. "I am worn out by the attitude of a lot of our supporters," Sullivan said. "I know what they say about me. I am fed up with them slaughtering me for putting money into this club. It's like throwing money down a black hole.
"I have to admit my enthusiasm is not what it was eight years ago," he added. "I'll walk away tomorrow if someone wants to buy this club."
Meanwhile, David Pleat is the latest name to be linked with the vacant manager's post at Birmingham, along with Steve Bruce, Joe Royle and the current caretaker managers, Jim Barron and Mick Mills.
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