Birmingham City: Shelby Companies Limited completes takeover

St Andrew's has been home to Birmingham City since 1906

US-based Shelby Companies Limited (SCL) has completed its takeover of the Championship's longest-serving club Birmingham City.

A statement released by Knighthead Capital Management confirmed that the previously Chinese-owned club now has new controlling shareholders.

It said that its "affiliate company" SCL now has 45.98% ownership of Birmingham City Limited.

SCL also has full ownership of Blues' ground at St Andrew's.

Blues' new owners say they will be there in person for the first Championship home game of the season against Leeds United on Saturday, 12 August.

In an open letter to Blues fans, Knighthead co-founder and co-chief executive Tom Wagner said: "The transition and implementation plans will take time.

"There will be bumps in the road but I ask that you get behind the leadership team guiding the club forward, be part of the alliance and continue to give every team that wears the shirt your passionate support."

Wagner also confirmed that Blues will continue their upgrade of St Andrew's, work on which had stalled - and that the first team will continue to train at Henley-in-Arden.

Blues moved there to the Elite Performance and Innovation Centre, the former training base of ex-Premiership rugby union club Wasps, following a fire at Wast Hills in March.

Upgrades will also be done on Wast Hills, where the academy and Blues women teams will train.

A statement confirming the completion of the takeover said: "SCL has completed the transactions with the majority owners of Birmingham City Football Club, including Birmingham Sports Holdings Limited (BSHL), following approval by the shareholders of BSHL.

"SCL has assumed responsibility for all operations of the club and will provide the necessary funding to rebuild and set a new trajectory.

"SCL is committed to providing the resources, in line with English Football League guidelines, needed to deliver transformational change for the good of the club and the benefit of the city whose name it proudly carries."

SCL is a subsidiary of the Knighthead Capital Management Group co-founded by financier Tom Wagner, who outlined his plans for the club in a letter to supporters in May.

BSHL had been seeking fresh investment and the chance to offload Blues for well over a year.

Last summer former Barcelona and AC Milan striker Maxi Lopez was part of a consortium, including Blues fan and local businessman Paul Richardson, that claimed to be close to buying a 21% stake.

That interest was ended in December, although subsequently Lopez, Richardson and Matthew Southall admitted breaching EFL rules over the owners and directors' test by taking control of the club without going through the proper sign-off procedure.

Blues, who have been in the Championship since they were last relegated to the second tier from the Premier League in 2011, the year they won the League Cup at Wembley, finished last season in 17th place under head coach John Eustace.