Birmingham City have written to shareholders recommending they vote against an attempt by Carson Yeung to add two new directors to the board.
Yeung, the club’s majority shareholder, who has already angered the board by failing to deliver his promise to buy the club, wants to appoint Steve McManaman, the former Liverpool, Real Madrid and England winger, as well as Fan Zhiyi, the ex-Crystal Palace defender.
Karren Brady, Birmingham’s managing director, has advised shareholders to vote against the Honk Kong businessman’s proposal, and questioned McManaman and Fan’s business experience. McManaman acts as an advisor to Mr Yeung on British affairs.
The club is understood to be angry at Yeung’s attempt to force two of its advisors on to the board after a takeover by Grandtop, Leung’s company, failed to materialise.
Mr Yeung bought a 29.9 per cent stake in the club in July. Board members account for a further 47 per cent of shares between them.
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In her letter to shareholders, Brady said: “We are legally obliged to put these resolutions to shareholders, even though we do not support them, nor do we believe the appointments are in the best interests of the company.
“Whilst we recognise that both the proposed appointees [McManaman and Zhiyi] enjoyed illustrious football careers at respected clubs, we question whether they have the necessary business experience to make an effective contribution as directors of a public company.
“Moreover, we question whether the actions of Grandtop are in the best interests of the company and its’ shareholders. Accordingly, your board recommends that shareholders vote against the resolutions.”