No financial problems for fans to be worried aboutBirmingham City chairman Peter Pannu has denied reports that the League Cup winners won’t be able to take their place in next season’s Europa League due to financial difficulties.
After the Bluenoses beat Arsenal in the final at Wembley they automatically sealed a place in European competition for next season but it was claimed the club would need to show their financial future is secure before they could take their place, something Pannu has denied.
"Birmingham City FC is in credit with their bankers and there is no financial impediment to its operations,” he told the club’s official website.
"We will have no problem securing Uefa licence approval [to play in Europe] for which the club had already filed the papers."
In a statement to the Hong Kong Stock Exchange it was revealed that the club and its parent company Birmingham International Holdings, based in Hong Kong, revealed debts of £29 million but Pannu was quick to allay any fears supporters may have.
"It is important to note that Birmingham City is a separate corporate entity from BIHL [a listed company in Hong Kong],” he added.
"Although a distant subsidiary, Birmingham City FC's accounts are separate and it operates on its own financial basis.
"As for Birmingham International Holdings Limited, the financial support by a major shareholder is a common occurrence and there is no cause for concern or any direct links to Birmingham City FC's well-being."