Takeover Draws Closer

Last updated : 23 September 2009 By Brian Cartlidge

The Hong-Kong businessman's Grandtop International Holdings company have now increased their share capital in the club to 81.7 per cent following their announcement that they have received "valid acceptances" for the purchase of a further 42,211,337 of Blues' shares.

The takeover is on schedule to be completed in early October.

Co-owner David Sullivan and chief executive Karren Brady have already announced their intentions toleave St Andrews once the takeover is complete but David Gold will stay on at the club in his role role as chairman.