Yankees Look To Refinance $1B In Debt Twins Restructuring Baseball Operations Mets Shift Promotional Philosophy Kendrick To Blame For D-backs' Struggles? Hope Solo's Future With NWSL Club In Doubt Domain Registration Hints At Vegas NHL Team Name Coyotes Keep Collecting Dead Contracts Yard Goats May Get Moved If Ballpark Is Not Ready Mara Defends Giants' Decision To Re-Sign Brown Sabres Introduce Dynamic Ticket Pricing
SBD/March 9, 2011/Franchises
ManU CEO Ardently Defends Glazers Against U.K. Parliamentary Questioning
Published March 9, 2011
CAUSE FOR CONCERN: In London, Sandy Macaskill reports the EPL is "closely monitoring Birmingham City after concluding that the club's financial position gives cause for concern." The league also "privately expressed unease at attempts by the Birmingham board to distance themselves from their parent company, Birmingham International Holdings." Birmingham's finances have "again come under scrutiny after a statement made to the Hong Kong stock exchange last week revealed 'the existence of a material uncertainty that may cast significant doubt' on the ability of BIH to continue as a growing concern." BIH owns 96% of Birmingham City plc, which owns the club. Recent accounts published by the club "showed that Birmingham has debts of more than" US$47M (London TELEGRAPH, 3/9).