• Championship

Yeung steps down at Birmingham

ESPN staff
February 4, 2014
Yeung bought Birmingham for £81.5 million in 2009 © PA Photos
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Birmingham City owner Carson Yeung has resigned from all positions of power with the Championship club as he awaits the verdict in his money laundering trial in Hong Kong.

Yeung is the chairman and an executive director of Birmingham International Holdings Associated. The 53-year-old is also listed on the club's website as being president and director.

However, Birmingham's holding company announced to the Hong Kong Stock Exchange that he has quit his directorships and "holds no positions in the group."

"Yeung resigned to devote more time to his other personal commitments," Birmingham International Holdings said.

Yeung has been standing trial on five counts of money laundering involving more than HK$720 million (£57 million) deposited in five bank accounts from 2001 to 2007. Prosecutors have said the money was "criminal proceeds" and a verdict is due on Feb. 28.

The charges are unrelated to Birmingham, who Yeung bought in 2009 for £81.5m. The club won the 2011 League Cup, ending 48 years without a major trophy, but despite the victory were relegated from the Premier League the same year.

Birmingham said Cheung Shing, already an executive director, has been appointed chairman.

© ESPN Sports Media Ltd
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