Grandtop International Holdings has made an offer to become Birmingham City Football Club’s majority shareholder.

Carson Yeung of Grandtop International Holdings has made an offer on Birmingham City Football Club to become the majority shareholder.

Hong Kong-based businessman Mr Yeung, Chairman of Grandtop, already has a 29.9% stake in the football club, purchased in 2007. If the offer is accepted, Grandtop will own an 80% stake in Birmingham City.

Currently nine English Premier League clubs are owned by foreign companies or patrons. If Mr Yeung’s offer is accepted it will mean that half of the teams in the Premier League will be foreign-owned.

The cash offer was made at a £1 per share, valuing the football club at £81.51 million. Grandtop has already put down a deposit of £3m for the shares.

In a statement given to the London Stock Exchange, Grandtop intends to “develop the Club by investing in and strengthening the squad and infrastructure of the Club over time.”

The company also intends on increasing Birmingham City’s global fan base as well as promoting the club as a worldwide brand. Grandtop also hopes to increase the profile of the team in China and Hong Kong.

Alex McLeish, Birmingham City’s current manager, will continue on in his role and his existing backroom team will remain in place.