Birmingham City has been boosted by fresh and reassuring news on the progress of Carson Yeung's latest takeover attempt.
The football club has announced this afternoon that the Hong Kong businessman has put down a £3m deposit with a view to buying the football club. The potential offer by his investment company, Grandtop International Holdings, values the club at around £81.5m.
The shares are currently up 29% at 62.5p, valuing Birmingham City at just under £51m.
The news of a deposit will be welcome to fans and investors after a previous takeover attempt by Yeung fell through two years ago, unsettling the club on and off the field.
Birmingham today said that without this deposit it was "unable to commit resources to considering an offer".
