Yeung promises cash splurge at Birmingham

Carson Yeung has promised to provide up to 40 million pounds for new players as a first step towards transforming Birmingham into a club at least as big as local rivals Aston Villa.

The Hong Kong businessman, presented to the press here on Thursday after completing his takeover of the club, also offered backing to Birmingham’s current manager, Alex McLeish.

Yeung said he would be working closely with the former Scotland boss to maximise the potential of the club, a project that includes building a significant fan base in China.

Yeung has finally secured full ownership two years after his acquisition of a 29.9 percent stake and the resulting uncertainty over the club’s future triggered the departure of the then-manager, Steve Bruce.

Some Birmingham fans continue to harbour reservations about Yeung because of the loss of Bruce and the club’s subsequent relegation.

But the new owner insisted he could not be held responsible for what went wrong two seasons ago.

“I’m happy to be here,” he said. “It has taken a long time to buy the club – but finally I have got it.

“There were problems with each other regarding communication. When I took out the original 29.9 percent stake, I did not say I would then buy the club 100 percent.

“It just depended on the right time – and now I am so happy it has all gone through.”

McLeish, who has had to cope with a severe injury crisis since taking Birmingham back into the Premier League at the first attempt, wants to deepen his squad in January and Yeung said the former Scotland boss would be backed in the transfer window.

“My first plan is to support the club for about 20-40 million pounds for players and wages in January,” he said.

Yeung’s right-hand man Sammy Yu added: “We will all be working together. It is too early at the moment to say which players we will be looking at – but we will work on a short-list and we will go for it.”

Yeung added: “I will be supporting the manager. We have an excellent management team.

“Our aim is to work hard to secure our position in the Premier League, not only for this year but for many years to come.

“Birmingham can become as big as possible. We are competitors for Aston Villa.

“In the short term I just care about January. But in the future there will be more money, and longer term we believe there is a major opportunity to build Birmingham’s fan base in China and to generate new sources of revenue for the club.

“But for this to happen, our first priority must be to establish Birmingham as a Premier League club.”

Yeung intends to take an active role with Birmingham but will have the support of chairman Vico Hui, joint vice-chairmen Peter Pannu and Yu, and chief executive Michael Dunford, who has similar experience with Derby and Everton.

“I will be here three or four times a month and I will try and see every home game,” he added.