Exclusive: Birmingham chairman David Gold on verge of quitting club over salary row
Published 23:00 07/10/09 By By James Nursey
Birmingham chairman David Gold is close to resigning and is set to follow David Sullivan and Karren Brady out of St Andrews.
Hong Kong businessman Carson Yeung gets control of Premier League City next week when he transfers the funds for his £80million takeover.
Both Sullivan and the Gold brothers stand to make over £20million on top of selling a 29.9 per cent stake to Yeung in 2007.
Gold, 72, who help saved Brum from administration in 1993, has met Yeung’s representatives to discuss remaining in an ambassadorial role.
But the club’s takeover recommendation document seen by MirrorFootball states Gold must be paid £140,000-a-year plus expenses if he stays.
And Yeung is not keen to give Gold any more money after already paying £1 a share for control of the club.
Yeung’s camp have also noted Gold’s interest in possibly joining Sullivan at Premier League rivals West Ham United should his pal gain control.
This has sparked a shift in supporter sentiment towards Gold among Birmingham fans.
The incoming regime are unhappy as well about the Golds and Sullivan using their joint-majority shareholding to sanction a lucrative pay-off for MD Brady.
Her settlement means Yeung must pick up Brady’s salary for 12 months worth £179,372, bonuses worth £780,000 and a number of other benefits she currently gets.
Brady’s entitlement is laid out in her contract, which was last updated in September 2008.
Yeung is not keen to pay up but may have to despite his initial objections as Brady’s settlement has been approved by the takeover panel.
Yeung is now set to fly into England late next week to attend Birmingham’s game at Arsenal on October 17.
But his associates Sammy Yu and Peter Pannu are in the country already preparing to take control.
Yu is becoming Brum’s vice-president football, with a brief to liaise with boss Alex McLeish and expand the scouting and Academy structure to the Far East.
While Hong Kong barrister Pannu will be vice-president finance and has been interviewing candidates for the CEO position vacated by Brady.
