Birmingham City should learn tomorrow whether the takeover of their club is serious. They have yet to receive a firm offer from the prospective buyer – believed to be Carson Yeung, a Hong Kong-based businessman – but are expecting to hear more details at a meeting in Birmingham.

Representatives of the potential purchaser spent last week inspecting the accounts at St Andrew’s and now want to take the talks on to the next level. Although it is understood that Yeung will not be present, his “close associates” will meet David Sullivan and David Gold, the club’s co-owners, for the first time.

If a bid of about £50 million is forthcoming, Sullivan, a multimillionaire, is likely to accept. He has grown disillusioned with football and the constant travelling from his home in Essex.

However, the similarly wealthy Gold will not be as easily swayed. Despite having spent 14 years at the club, having rescued them from the brink of bankruptcy, promotion from the Coca-Cola Championship to the Barclays Premier League – at the first attempt after relegation – has rekindled his enthusiasm.

A club source said yesterday: “David Sullivan has always said that he would go if the right offer came along. But it is not quite the same situation with David Gold. It is not as if he would do the deal just for the money and, if he sells up, it is not going to be a case of it changing his life.”

Gold’s brother, Ralph, the third co-owner, plays little part in the day-to-day running of the club, preferring to steer clear of the limelight, but he is likely to support his sibling. The fragile relationship between Sullivan, the plc chairman, and David Gold, the club chairman, could deteriorate further if they fail to agree over the terms of the takeover.

Before sanctioning any sell-out, Gold would insist on “substantial investment” being made available to Steve Bruce, the Birmingham manager, for strengthening his squad. It is the same proviso made by Sir Jack Hayward, the former owner of Wolverhampton Wanderers, before he agreed to relinquish his grip at Molineux.

“I have got to confess that I am not a willing seller,” Gold said last week. “But that doesn’t mean to say that if I thought it was in the best interests of the club, then I would not look at the options.

“We have never had interested parties who I felt could do a better job than we could do. Now, with these hugely wealthy people coming in – and I am talking about billion-aires – they are more capable.

“You only have to look at the clubs which have been taken over by them. You have got Aston Villa and West Ham.

“Sometimes the principals have to consider the broader picture. They have to consider the fans and what’s in their best interests. Sometimes that can lead you to make a decision to say it’s time to move on.

“If you were to ask me the odds about anything happening, I would say the greater likelihood is that the Golds and David Sullivan would be here next season. Therefore, it must be business as usual. I am looking forward to hearing the next requirement of Steve Bruce and I am full of excitement for the forthcoming season. That won’t change because of these things happening in the background.”

Yeung’s track record in attempting to buy an English club is not impressive. He was linked with Sheffield Wednesday, the Championship team, in March and, a month later, with Reading. Yet neither move bore fruit. David Gold is a close friend of John Madejski, the Reading chairman.

Last December, Yeung tried to persuade Steve McManaman, the former Liverpool and Real Madrid player, to play for his club, Hong Kong Rangers. McManaman had to turn down the opportunity because of injury.