Birmingham International Holdings Limited (BIHL) announced to the Hong Kong Stock Exchange today it had appointed Ernst and Young Transactions, the receivership arm of financial services firm EY, as the receivers.
This does not mean that the football club itself is in administration. The fact that the term receiver is used, not administrator, means that it is likely to be with regard to the property belonging to the parent. It is most likely of course that this is the ground that the club play at.
There have been well documented disputes over the management of the corporate structures that surround the club but in a statement Birmingham City Football club said that their was no winding up petition and that the club was not going into liquidation.
This move will in effect allow a third party, Ernst and Young, to run the parent and get to the bottom of the issues and ensure the future of the football club.
However this is the latest negative headline for the club which will unsettle the fans.