KNIGHTHEAD CAPITAL MANAGEMENT LLC MEDIA STATEMENT

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May 08, 2023, 07:50 ET

NEW YORK, May 8, 2023 /PRNewswire/ -- "Knighthead Capital Management, LLC (Knighthead) can confirm that, through its affiliate, Shelby Companies Limited, it has exchanged contracts with the majority owners of Birmingham City Football Club including Birmingham Sports Holdings Limited. It has been a complex negotiation and the Share Purchase Agreements (SPA) are subject to approval from the Hong Kong Stock Exchange and customary regulatory authority approvals in the UK. These approvals are anticipated within the coming weeks.

Assuming the requisite regulatory approvals are granted, the structure of the transaction means that Knighthead will have full ownership and control over St. Andrews, part ownership of Birmingham City Plc, significant representation on the Board of Birmingham City Plc and a certain path to ensuring the future of the Club is in good and safe hands. Knighthead, subject to the rules of the English Football League (EFL), will assume responsibility for the day to day running of the Club, alongside other stakeholders.

Knighthead will share more information about its long term plans for the Club once all approvals have been granted."

About Knighthead Capital Management LLC

Knighthead Capital Management, LLC ("Knighthead") was co-founded in 2008 by Ara Cohen and Tom Wagner and currently has approximately $9.5 billion of assets under management. Knighthead 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 has worked to create a diversified credit platform with an experienced team of investment professionals, specializing in credit analysis, sourcing, trading and restructuring. Knighthead's long-term objective is to generate attractive risk-adjusted returns for its clients while emphasizing the preservation of capital. Knighthead 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.

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SOURCE Knighthead Capital Management, LLC