EFL To Sanction The Three Men Behind The Failed Birmingham City Takeover.

The EFL set to announce a set of sanctions for the 3 men who tried to buy Birmingham City last year.

Following a 5 month investigation, the EFL charged former Barcelona striker Maxi Lopez, British
businessman Paul Richardson, & former Charlton Athletic Chief Executive Matt Southall with alleged
breaches of its owner's & director's test [ODT] in February 2023.
The 3 were the main men of MAXCO a company set up in early 2022 to buy Birmingham City, but their
proposed, two stage £35m takeover collasped in December 2022.
According to the EFL, they have been running the club, without formal approval, which is against the rules.

Maxi Lopez - Accepted a 1 month ban from involvement with a EFL club, which was suspended until the
end of the 2023-24 football season.
Paul Richardson - Agreed to a 2 month period of ineligibility, which was suspended until the end of the
2023-24 season.
Matt Southall - Given a 6 month ban, with 3 of them suspended, as the EFL considered his breaches of
the ODT rules to be the most serious.
Southall was MAXCO's nominated consultant at the club & made no secrets of his close involvement in
Birmingham City's summer transfer window, or their plans for the January transfer window.
Southall & his partners believed his actions were within the spirit of the regulations, given the fact the
Chinese owners of Birmingham City, were more than happy for MAXCO to start funding the clubs losses,
& the urgent work needed to repair Birmingham City stadium.

EFL costs - Lopez, Richardson & Southall agreed to make contributions to the EFL's costs.
Lopez & Richardson will both pay £20,000, with Southall to contribute a further £5,000.

The situation has been resolved, but charges against the club, & shareholder Vong Pech who agreed to
sell his minority stake in Birmingham City, are still ongoing.
Vong Pech's sale was set to be the first stage of the takeover involving MAXCO.

EFL - In a separate investigation, looking into the current ownership structure at Birmingham City.

Verdict -
The EFL give two of the men involved a suspended term, the third man gets 3 months of his 6 month's
term suspended.
All 3 men caught with their trousers down, funding the club openly with a reported £8m, which could
have been used for incoming players last summer 2022 or the January transfer window 2023.

The owners of Birmingham City - Birmingham Sports Holdings Ltd [BSHL] having money problems,
They are fighting to stay on the Hong Kong Stock Exchange.