Birmingham's prospective buyers are due to take a major step on Monday towards ownership of the club with a hefty down payment.
Businessman Paul Richardson and ex-Argentine striker Maxi Lopez paid a £1.5million deposit in July for Blues’ largest individual shareholder Vong Pech's 21.64% stake. It is part of a plan to takeover the whole club in the next two years for £36.5million.
The pair have since been doing due diligence and have held positive talks with new Blues boss John Eustace , whose side opened the Championship season with a 0-0 draw at Luton.
Now the deal is poised to go ahead pending EFL approval after Richardson provided lawyers with the funds ahead of Monday's agreed August 1 date. It follows Laurence Bassini’s aborted bid to take control after he agreed a period of exclusivity before failing to raise the cash.
The deal includes payments totalling £26.5m to complete 'stage one' of the takeover plus £10m for stage two. Then a further £10m promotion bonus if Birmingham reach the Premier League by 2026.
Richardson, a Gymshark shareholder and ex-chairman, recently visited St Andrews to meet Brum chairman Wenqing Zhao. He is willing to give Eustace, who was only hired recently on a three-year deal, a chance after talks with him and sporting director Craig Gardner.
Richardson also plans to bring in controversial ex-Charlton chief executive Matt Southall to run the club. Richardson said: “We have some tough decisions and we believe he’s the right guy to do it.”
The hard calls are expected to include getting to grips with the club’s wage bill which has a number of fringe players on huge money in the second tier.
These include reserve keeper Neil Etheridge, 32, who is under contract until 2024 on £21,000-a-week and defender Harlee Dean,31, who was loaned to Sheffield Wednesday last term and has 12 months left on £31,000-a-week.
Other stars likely to be made available to go are Lukas Jutkiewicz,33, on £15,000-a-week under 2024 and left-back George Friend,34, who earns £8,000-a-week.
Birmingham want to lower the age of their squad and reduce their wage bill , including using loans like American defender Auston Trusty, 23, from Arsenal who has already impressed hugely.
