16 Apr 2010

Bank threatens to sell English premier league football side

7:10 am on 16 April 2010

An investment bank's threatening to sell English Premier League side Birmingham City due to an unpaid debt of $4.5 million it claims is owed to them by the club owner.

Seymour Pierce investment bank says they're owed the money for advising Hong Kong-based businessman Carson Yeung in his takeover of the club in November.

The bank gained a court order for the debt but it hasn't been paid and Seymour Price says it can now take control of the club's shares to regain the money its owed.