David Sullivan yesterday offered his backhanded gratitude to Carson Yeung for providing Birmingham City with the opportunity to upgrade their manager and make a profit. As the club confirmed to the London Stock Exchange that Yeung’s ill-fated takeover attempt was at an end, Birmingham’s co-owner said that Alex McLeish’s arrival had rekindled his enthusiasm and that he wanted to increase his shareholding.

The uncertainty over the Hong Kong businessman’s takeover bid this autumn has been cited as a reason for a dip in the team’s results, which led to Steve Bruce being allowed to become Wigan Athletic’s manager.

McLeish left his role in charge of Scotland to become Birmingham’s fourth manager in 14 years and Sullivan believes the club are better off all round. “That’s the best thing that’s ever happened to Birmingham City,” the club’s plc chairman said. “We got what we think is a far better manager who has managed at a high international level. We managed to get rid of the manager and get £3 million, which was incredibly good business.”

McLeish took the job on the understanding that the present board would remain in control of the club and Sullivan confirmed yesterday that, far from looking to identify alternative buyers, he wanted to increase his grip on the club.

Sullivan said that even if Yeung, who has 29.9 per cent of the club, offered the £35 million required for a complete takeover in the new year, David Gold, [the chairman], Karren Brady, [the managing director], and himself would not sell. “What the club needs now is at least a season of peace and consolidation,” Sullivan said. “It is my intention to buy more shares to increase my stake [23.22 per cent] to 29.9 per cent. I cannot speak for David Gold, but I would imagine he does the same. It would take us to just under 60 per cent, so we would have control.

“If the Sultan of Brunei contacts us or Roman Abramovich’s brother - and I don’t think he has a brother – then we would move aside. Otherwise, we’re not going to entertain any offers for the foreseeable future.”