HONG KONG businessman Carson Yeung has cut his ties with the holding company that owns English second-tier club Birmingham City, it was announced today.
A statement issued to the Hong Kong Stock Exchange said Yeung had resigned as executive director of Birmingham International Holdings Limited (BIHL) to “devote more time to his other personal commitments”.
Young, who took control of the Midlands side in 2009, is currently awaiting the verdict in a $93 million money laundering trial in Hong Kong, having denied corruption charges.
The BIHL statement said: “The board of directors of Birmingham International Holdings Limited announce that Mr Yeung Ka Sing, Carson (Yeung) has resigned from all directorships of the group, including his position as an executive director with effect from 4 Feb 2014.
“Following his resignation, Mr Yeung holds no positions in the group.”
Yeung’s position as BIHL chairman has been taken by fellow director Cheung Shing.
Little-known prior to his emergence in English football, Yeung took charge of Birmingham in October 2009 in an £81 million ($132m) takeover from David Sullivan and David Gold, now the co-owners of Premier League club West Ham.
Birmingham, who were in the top flight themselves, won the 2011 League Cup under Yeung but were relegated from the Premier League three months later.