As their incredible investment story continues, ownership firm Knighthead Capital Management has given Birmingham City an additional nearly £4 million. Since Knighthead took over in the summer of 2023, the Blues have benefited from millions of pounds, which they used to upgrade St Andrew’s and make major financial contributions to the team during that time.
Although clubs are allowed to spend 60% of their revenue on player wages, the percentage is higher for recently relegated clubs to help offset the drop into League One. The financial regulations, which are similarly strict in the top two divisions of English football, relax somewhat in the third division.
However, there is nothing stopping Blues’ conscientious and giving owners from contributing more money to the club in the form of cash or stock investments.According to the Companies House page of the holding firm Shelby Companies, Knighthead has decided to do it again.
Knighthead, through Shelby Companies, was confirmed on Monday to have allocated 3.9 million new shares at a value of £1 apiece. This is the most recent investment and the latest indication that the Blues’ owners are fulfilling their pledge to completely overhaul the team.
Knighthead bought the Wheels property in Bordesley Green earlier this year and announced intentions to construct a brand-new Sports Quarter. On the 48-acre site, the Sports Quarter will feature a brand-new, cutting-edge stadium. The entire project is anticipated to cost up to £3 billion. By the summer of 2029, the Blues want to be playing in their new stadium.
Read more news:https://sportupdates.co.uk/
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