Knighthead Acquires 48-acre former Wheels site in Bordesley Park, East Birmingham: A Key Step Toward Creating a Vibrant Sports Quarter and New World Class Stadium

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Apr 09, 2024, 06:00 ET

Knighthead's ambition for Birmingham City Football Club (BCFC) is to become a beacon of excellence for Birmingham on the global stage, boosted by the new Sports Quarter infrastructure plans
Sports Quarter to be home to world class stadium and training facilities for all Birmingham City teams, and extensive commercial and community facilities
The development of the Sports Quarter is expected to generate over 3,000 local jobs
Knighthead's investment into the Sports Quarter follows the company's takeover of the football club and further showcases the company's continued commitment and ambitions for the city of Birmingham
The plans have been led by Knighthead Co-CEO and BCFC Chairman, Tom Wagner, and BCFC CEO, Garry Cook

NEW YORK, April 9, 2024 /PRNewswire/ -- Certain entities managed by Knighthead Capital Management LLC ("Knighthead") have completed the purchase of the 48-acre former Wheels site on Bordesley Park, bringing their total land holding to more than 60 acres, excluding St. Andrews at Knighthead Park. Knighthead and BCFC are developing plans for a vibrant Sports Quarter, with the intention to build a new multi-use stadium, high-performance training facilities and other mixed-use real estate development including a range of entertainment options. This is to be the new home of Birmingham City Football Club, and a world class venue to bring international sporting events to the region. The news represents a significant step on the Club's growth journey following the takeover by Knighthead in July 2023.

BCFC sits at the heart of the community in Birmingham through its activity on the pitch and the important work of the Birmingham City Foundation. The regeneration of Bordesley Green and the planned facilities for local people are central to the owners' ambition to make a positive contribution to people from all backgrounds across the city.

The ambition for the Sports Quarter is for it to become a globally recognisable sporting and entertainment location. The goal is for Blues to have a world class stadium, training facilities for both men and women, a new academy, community pitches and commercial space to support innovative local businesses, all within walking distance to the city centre.

The plans will not only help realise the vision for the football club, but also deliver for East Birmingham as part of Knighthead's plan to play a significant role in the ongoing transformation of Birmingham's infrastructure and skyline. Once operational, the Sports Quarter should generate over 3,000 full time jobs and significantly contribute to Birmingham's GDP.

Tom Wagner, Knighthead Co-CEO and BCFC Chairman, said:

"When we invested in Birmingham City, we made it very clear that we had an ambitious vision to transform the experience for our fans and make a positive contribution to the growth and vitality of the city of Birmingham. The acquisition of the former Wheels site is an important next step in making this a reality. The plans for the Sports Quarter will bring global interest to our Club and to Birmingham as a whole. It is going to transform the future of our men's, women's and Academy teams, and the fortunes of the community that we call home. We are excited to collaborate with the fans, the local community, and key partners in Birmingham to deliver on our plans for the Sports Quarter."

Garry Cook, CEO of Birmingham City Football Club, said:

"The Birmingham City story dates back to 1875 when the Small Heath Alliance team was formed. A blue thread based on teamwork, entertainment and unbreakable community spirit was created. This is the strength of our brand. Our owners have an ambition that is greater than anything this Club has ever seen, and when we deliver it the impact on the global reputation of Birmingham will be seismic.

"Tom Wagner, in his May 8^th 2023 Letter to Fans, asked supporters to hold Knighthead accountable to six commitments. One of those was for Birmingham City Football Club to build on the pivotal role it plays in the economic, social, and cultural landscape in the city, making sure it is always a cornerstone and positive force for good in the local community. Without doubt, today's announcement delivers on this commitment."

Birmingham City Council leader Cllr John Cotton said:

"This is a huge moment for everyone associated with Birmingham City FC, and I'm sure Knighthead's ambitious vision will excite Blues fans everywhere. I want to thank our council officers who have worked so closely with the club and these exciting plans will regenerate the area, creating thousands of much needed jobs. Hopefully this is the first step on a journey to Birmingham once again being home to two Premier League football clubs."

Editor's Note:
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About Knighthead Capital Management, LLC
Knighthead Capital Management, LLC ("Knighthead Capital") was co-founded in 2008 by Ara Cohen and Thomas Wagner. Knighthead Capital is an event driven and deep value focused SEC registered investment advisor that specializes in investing in companies that need financial and operational restructuring. Knighthead Capital has worked to create a diversified credit platform with an experienced team of investment professionals, specializing in credit analysis, sourcing, trading and restructuring. Knighthead Capital's long-term objective is to generate attractive risk-adjusted returns for its clients while emphasizing the preservation of capital. Knighthead Capital manages assets across a variety of investment vehicles including a long/short Evergreen Hedge Fund, a number of Closed-End Credit Vehicles, a dedicated Real Estate Lending business and a sizable Insurance Asset Management business.

SOURCE Knighthead Capital Management, LLC