Newly promoted FA Premier League club Birmingham City has announced that it has been approached about a potential takeover bid.
The club informed the Stock Exchange that discussions had begun regarding a buyout although the identity of the bidder remains under wraps due to the regulations of the Stock Exchange.
A statement from the club read: ‘Such discussions are at a very preliminary stage. The directors note that there is no certainty that a transaction will result from the approach.’
Reports suggest that the bid has come from a Far East-based businessman with a valuation of around £70m.
Birmingham City is the latest in a string of top-flight clubs that have either agreed takeovers or received lucrative buyout offers in recent months.