Birmingham City reject takeover offer from ex-Watford owner despite £120m debts

Birmingham City have rejected an enquiry from Laurence Bassini to buy the debt-ridden Championship club.

The former Watford owner has been looking for a return to frontline football and had earmarked the Second City outfit as a potential target.

But his initial attempt to enter a dialogue with the club's owners has been turned down flat.

Brum are over £120m in debt and have mortgaged St Andrew's to a third party, prompting suggestions all was not well.

But it appears that the club remains funded by its' owners in Hong Kong via their publicly-listed company.

And, what's more, it also appears that manager Lee Bowyer will be receiving some help when the transfer window opens to strengthen his squad.

A run of injuries has exposed the depth of the players at his disposal and there are whispers the former Carling Cup winner will be given limited funds to make a couple of additions.

However, that's where any good news ends.

Birmingham have been forced to close the lower sections of the Kop and Tilton Road End stands of St Andrew's due to structural issues with the steelwork.

They have been trying to carry out remedial work throughout the season but it now appears that the damage is more problematic than first thought.

There were hopes the whole ground might be re-opened in the New Year but now that appears unlikely and it could be the stadium is not fully functional until next season.