Millionaire businessman David Sullivan has ploughed another £1.5 million into Birmingham City Football Club, with much of the cash earmarked for a stadium refurbishment for the newly promoted team.
Fellow directors David and Ralph Gold have also announced they will be lending a further £1.5 million to the club out of their own pockets.
The announcement comes only weeks after Mr Sullivan and David Gold poured £1 million each into the team. Part of the funds will be spent on refurbishing the club’s St Andrew’s Stadium, while it will also be used to buy new players.
A scheme to upgrade the ground is due to begin later this year, with Mansell, Norwest Holst and Ashford Construction all understood to have tendered for the work.
The new loans must be repaid by 1 September and bear an interest rate of 0.5 per cent.