New financial details come to light as Tom Wagner closes in on Birmingham City takeover | OneFootball

Birmingham City fans have had to watch their team in recent years struggle at the wrong end of the Championship table, and at the same time they have been longing for a change in the boardroom.

Their current owners have been absent for the most part in person for a long time, but that could all be about to change as fresh investment is coming at St Andrew's in the form of Tom Wagner's consortium, who are looking to make a big splash in the Midlands.

Who is Tom Wagner?

City supporters will have only heard about Wagner for the first time in the weeks prior to his imminent takeover being confirmed, but he is essentially a hedge fund manager in the United States and owner of Knighthead Capital Management - a company which reportedly has assets worth $9 billion.

He also made an impression upon his visit to Birmingham earlier in May when he reportedly put money behind local bars for fans to buy drinks after their final day of the season defeat to Sheffield United - that's one way to get people onside!

Birmingham of course confirmed on the eve of their final match of the 2022-23 season against Sheffield United that Sale and Purchase Agreements had been signed by Wagner and the relevant individuals at the club to make sure he becomes the next owner of the club - pending EFL approval.

Despite only initially being set to purchase a 45.64 per cent stake of City, Wagner will take control over the current owners much like Paul Richardson and Maxi Lopez were set to last year before their bid for the club fell through.

Eventually, Wagner and his consortium will own 100 per cent of the club, and an announcement via the Hong Kong Stock Exchange has now confirmed how much that will cost.

Wagner and his team will end up paying £22 million for the entirety of the club eventually, with the price determined after factoring in the losses the club have made to the tune of £37 million in the previous year and a half.

The club's current ownership group Birmingham Sports Holdings, owned by Paul Suen, will be paid bonuses though if the Blues return to the Premier League within two years, and a further £15 million will be paid should they remain in the top flight for two years following promotion.