Gold had been expected to continue as Blues chairman under the new regime but he has declined the offer of becoming vice-chairman under the ownership of Hong Kong businessman Carson Yeung. "Unfortunately we couldn't offer him the position of chairman which is what he wanted. Vico Hui is to come in as chairman. "Regrettably our offer to David Gold to become a vice-president has been turned down so we were not able to come to a suitable agreement."
"We have a lot of respect for David Gold and the excellent job he has done for the football club," Yeung's representative, Peter Pannu, told the Birmingham Mail.
Managing Director Karren Brady, co-owner David Sullivan and director Ralph Gold had already decided on leaving St Andrews once the new ownership was completed.