West Ham owner David Sullivan is funding a proposed £35million takeover of Birmingham City that could see him regain control at St Andrew's if the club's prospective buyer Laurence Bassini fails to repay the loan.
Sportsmail can reveal that Sullivan's investment company, Rickleford Limited, have agreed to loan Bassini £33m to buy City from Hong Kong-based owners Birmingham Sports Holdings, who want to sell and are mulling over numerous offers.
Sullivan's loan offer makes clear he would take control of 'the property assets of the club' in the event of a default, raising the prospect of him regaining control of Birmingham 13 years after selling to Hong Kong businessman Carson Yeung for £81.