TTA loss rises to pay for players

THE extent of Trillion Trophy Asia’s commitment to Birmingham City has been revealed in the parent company’s latest set of accounts.

Birmingham International Holdings Ltd’s figures released to the Hong Kong Stock Exchange show slightly larger losses for the six-month period up to December 31, 2016 compared to the same period the previous year.

The loss for the period went up from HK$54 million to HK$63 million – around 17 per cent and £930,000 in sterling.

The accounts explain that loss was mainly caused by spending on new players and the decision to sack Gary Rowett in Decem- ber and replace him with former West Ham United and Watford boss Gianfranco Zola.

Mention of that decision is made and in the statement the directors claim: “The management believes the pedigree, philosophy and ambition of the new members fits with what the club would like to achieve as it moves in a new direction.

“With the introduction of new players, the management is optimistic that the performance of the club can be improved on and off the field.”

However, what stands out most is the fact TTA have agreed yet another loan facility of up to £26 million – none of which has yet been drawn down. While the fact these various loan options are secured against St Andrew’s will understandably concern many, as will an interest rate of eight per cent, they could also be seen as a sign that Paul Suen Cho Hung, one of the men behind Trillion Trophy Asia, is prepared to underwrite whatever vision he has for the club.

A vision yet to be publicly articulated by anyone connected with the new owners.

The extent of the club’s summer spending is also laid bare with the fees paid on the likes of Che Adams, Ryan Shotton and Greg Stewart amounting to around £1.4 million.