Knighthead takes control of Birmingham City and St Andrew's

American investment firm Knighthead Capital Management has taken control of Birmingham City Football Club, completing a deal to buy a controlling stake in the club and full ownership of its St Andrew's stadium.

The deal was completed on 13 July through Shelby Companies Ltd, a Knighthead subsidiary fronted by the firm's co-founder Tom Wagner.

Third time lucky

The takeover follows two earlier attempts to buy the club that fell through. It ends years of uncertainty about the club's ownership, after a long period under Chinese owners that began in 2007.

In April, Birmingham Sports Holdings confirmed that letters of intent had been signed to sell shares in the club, setting the stage for the eventual deal.

New leadership

Former Manchester City chief executive Garry Cook has been appointed chief executive at Birmingham. The new owners have promised to bring stability and investment to a club that has spent recent seasons fighting to stay in the Championship.

The club has also attracted considerable publicity from the arrival of American football star Tom Brady, the seven-time Super Bowl winner, as a minority owner.

St Andrew's back with the club

A key part of the deal is full ownership of St Andrew's, the club's home since 1906. The stadium's ownership had become separated from the club in recent years, and bringing it back together has been a long-held wish of supporters.

The ground has also faced problems. The lower tiers of the Tilton and Kop stands have been closed for asbestos removal, and installation of rail seats for safe standing in the Tilton is due to be completed in September, with the Kop expected to reopen fully soon after.

A club with a long history

Birmingham City, known as the Blues after the colour of their kit, have a fierce rivalry with Aston Villa, their nearest neighbours, with whom they contest the Second City derby. Their fans are known as Bluenoses.

The club's best-known modern moment came in 2011, when they beat Arsenal to win the League Cup at Wembley, but they were relegated from the Premier League the same season and have been in the Championship ever since.

What next

For supporters who have campaigned against the previous ownership, the takeover is seen as a fresh start. The new owners' first test will be the season ahead, with head coach John Eustace's side aiming to move up the Championship table.

The club has changed hands several times before. In the early 1990s it was bought out of administration by David Sullivan, who installed the 23-year-old Karren Brady as managing director.