Former Watford owner Laurence Bassini is closing in on taking control of Championship side Birmingham City, according to a Twitter update from The Telegraph journalist John Percy.
The West Midlands outfit have been the subject of intense takeover speculation over the past couple of months with fan discontent clear towards current owners BSHL (Birmingham Sports Holdings Ltd).
It was revealed last month that another party led by Maxi Lopez were interested in managing Lee Bowyer’s side for two years before deciding whether to purchase the club or not, an idea that was thought to be a condition set by BSHL.
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Another potential party that included former Rangers director Donald Muir reportedly pulled out of the race – and that looked set to put Lopez’s team in pole position to secure an agreement.
However, it has now emerged that controversial figure Bassini has exchanged contracts in a bid to complete a takeover deal and is thought to be “confident” of getting an agreement over the line.
But the 52-year-old faces another hurdle in securing approval from the EFL, with the governing body needing to ratify a deal before he can take control of the club.
As per a report from the Mirror, a £35m deal has been agreed between the prospective owner and BSHL with no issues likely to be encountered in getting EFL approval.
Ideally, another buyer would have come in considering the Blues need stability more than anything else right now – and Bassini isn’t exactly associated with that considering his controversies with the Hornets and Bolton Wanderers.
One positive is the fact he has had the experience of owning a club before and that should tee him up well coming into St Andrew’s – and the fact he can bring a fresh voice to the club will be enough to satisfy some Birmingham supporters.
Others will be disappointed that Bassini is the man looking set to take control though, even though many will want to see the back of BSHL after years of on-field underachievement and disappointments off the pitch as well.
If he does take control, Bassini’s first task needs to be doing everything he can to get the club’s Category One status back again, because that could be integral to their future success with the likes of Jobe Bellingham and Jordan James stepping up to the first team already.
Investment is also needed in the first team, though he must be careful not to breach financial rules because that could be detrimental to their long-term future.