Birmingham City break their silence after proposed Paul Richardson/Maxi Lopez takeover falls through | OneFootball

Birmingham City have broken their silence on the failed takeover of the club by Paul Richardson and Maxi Lopez.

Doing so by issuing a club statement, the Blues have said: “The Club can confirm that the proposed deal for investment by MaxCo has come to an end following the Club’s owners’ exercise of their right to terminate the deal.”

“As supporters will appreciate, for legal reasons, the Club is restricted in what it is able to say publicly at this time.

“Since media reports on Friday 2 December, the Club have been approached by other interested parties.

“We wish to reassure supporters that all and any official developments will be published on the Club’s website (BCFC.com) and official social media channels.”

This update comes after it emerged the takeover was off on Friday when MaxCo, the company behind Richardson and Lopez’s takeover, issued their own statement announcing that they were no longer proceeding with their purchase of the club.

Released via BirminghamLive, that statement read: “Following several months of due diligence at BCFC Maxco has decided not to proceed with the purchase of the shareholding and stadium of BCFC at this time.”

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“In light of our due diligence we attempted to renegotiate the terms of the original agreement to reflect our understanding of the current business status, but could not agree revised terms with the current owners.

“We have been left with no alternative and are bitterly disappointed as we know what this club means to the community and the very loyal fanbase. We really hope that BCFC finds an owner who is as passionate about this club as we are. Keep Right On!!”

As this goes on in the background, Birmingham City are preparing for their Championship campaign to get back underway this weekend.

The Blues face Blackpool at Bloomfield Road on Saturday afternoon, with kick-off scheduled for 3PM.

The Verdict

With the club’s confirmation, it really does seem as though the MaxCo’s proposed takeover is fully off.

Although, interestingly, the club do state that they have fielded interest since the news broke regarding the takeover collapse on Friday.

Clearly the Blues current owners are willing sellers, so perhaps that was always inevitable.

What you do hope, though, is that whoever next tries to buy the club can get it done in a swift manner, and not have it drag on and on for months and months, just for it to end in disappointment.