Birmingham's Far East owners are ready to re-open talks with a group headed by fan and businessman Paul Richardson after Laurence Bassini failed to cough up.
And other potential suitors are monitoring developments closely after controversial ex-Watford chairman Bassini saw his agreement to buy out Blues’ largest individual shareholder Vong Pech, who has a 21.64% stake, expire.
It was part of a plan to takeover the whole club in the next two years for £36.5million and replace boss Lee Bowyer this summer. But Bassini was unable to meet several deadlines last month to put down money after investors, including David Sullivan, got cold feet over whether the deal would get FA and EFL approval.
Bassini’s period of exclusivity is now over and Bowyer remains in charge preparing for City’s opening game on July 30 at Luton. But the club’s owners Birmingham Sports Holdings Limited remain willing to sell up.
They are now poised to resume talks with a rival group fronted by Birmingham fan and fashion mogul Richardson , whose business partner is ex-Argentina striker Maxi Lopez.
Lopez has a number of contacts in South America and told Brum officials he can get exciting potential transfers including free agent and pal Diego Costa.
He and Richardson attended Birmingham's final game of last season as City finished a disappointing 20th.
They remain keen but there are also understood to be at least two other interested parties watching developments too.
Bassini’s proposed deal included payments totalling £26.5m to complete 'stage one' of the takeover plus £10m for stage two. Then a further £10m promotion bonus if Championship Birmingham reach the Premier League by 2026.
He went public on his plans earlier this month which he said included bringing in Mark Warburton to coach the club and his intention to hold a press conference. But former QPR boss Warburton has since joined Premier League West Ham as a member of David Moyes’ coaching staff.
Bassini’s potential arrival sparked criticism as the businessman, who was declared bankrupt in the past, has previously served a three-year ban from football and failed to take over Oldham , Charlton and Bolton
Shabana Mahmood, a Birmingham Labour MP, said she did not believe the sale should be sanctioned. Mahmood said: "Bassini has a history of bankruptcy, failed takeover bids, and legal action against struggling clubs."
The offer of financial assistance from ex-Birmingham chairman Sullivan to Bassini raised the possibility of the Hammers’ chief returning to St Andrews in the future after he , David Gold and Karren Brady previously ran the club from 1993-2009. The West Ham owner has since run the Hammers but sold a stake to Czech billionaire Daniel Kretinsky who has an option to buy the rest of the club in the future.
