An article in todays mail suggest we have signed a secret deal with HSBC that should see us avoid administration in the summer at least and stop Carson taking all the money back to HK with him.
Here is a link to the article:
http://www.birminghammail.net/birmingham-sport/birmingham-city-fc/birmingham-city-fc-news/2012/03/09/birmingham-city-sign-secret-deal-with-hsbc-97319-30493137/
HSBC to step in if the club is in serious trouble? I doubt that very much, they are the most cautious bank in the world, don't take many risks and were not bailed out by the government.
However they now hold in their hands all of our assets including the ground, training ground and anything else they can seel of we cannot pay back the money we owe them, not quiet the good news that the mail is saying for me!
HSBC the saviour?
posted on 9/3/12
"they are the most cautious bank in the world, don't take many risks and were not bailed out by the government."
Hardly true,they are the 2nd largest bank in the world by assets after Citibank & are huge players in the Foreign Exchange markets and Derivatives trading too.In fact,you name it and they're trading it,not what I'd call conservative!
The only reason they didn't need bailing out by the govt is because there'd be a queue of mega-wealthy Hong Kong and Chinese investors waiting in the wings to bail them out!
In case you're not aware HSBC stands for Hong Kong and Shanghai Banking Corporation!
posted on 9/3/12
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posted on 9/3/12
On another note,I'd say that this is very good news for us,our owners having assets in the trillions of US Dollars,so much so that they actually make Man City's owners look like paupers!
Let's hope they take it upon themselves to adopt us as their personal football team,to sponsor and promote in China.
I find it very difficult to see this as anything but VERY good news...finally!
posted on 9/3/12
I'm preparing a down payment on my Executive Corporate Box now,I may flip it before next season,to a wealthy Chinese Govt Official for an undisclosed six-figure profit!
I will also throw in a stretch Hummer,armour-plated of course,directly from the airport!
<tophatandmonaclecigarchompingchampagnequaffingsmiley>
posted on 9/3/12
Hey Scribe, funnily enough I once knew of an unhinged door that thought it was ajar!
posted on 9/3/12
I would hope bcfc83 knows what HSBC stands for!
posted on 9/3/12
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posted on 9/3/12
I was aware that HSBC stood for Hong Kong and Singapore but thanks for pointing it out for me again BIB. My meaning behind them being conservative was that they don't go out and buy dodgy assets like RBS did or take over a toxic bank like Lloyds did in buying HBOS.
If push cam to shove I cannot see HSBC taking over BCFC, why would they? They are in the business of making profit. If they wanted their money back they would be more likely to sell the ground and training ground before investing any of their own money!
posted on 9/3/12
TBH killpage your wasted here!
posted on 9/3/12
HSBC was exposed to toxic debt from sub-prime borrowers after it bought US lender Household International in 2003.
Just not to the extent of a lot of other big players and was able to shrug it off.