Carson Yeung has admitted defeat in his bid to takeover Birmingham City.

The Mirror says Yeung, who has not been to a Blues game since October, has now told associates in the Far East that he will be unable to make any further payments for shares in the club before Christmas.

And Sullivan, City chairman David Gold and brother Ralph, who rescued Birmingham from financial ruin in 1993, are poised to stay in charge with their respective 23.22 per cent stakes.

"We need a period of stability now," said Sullivan, who lost his patience and temper with Yeung long ago.

"This takeover talk has worn us out over the last few months and it would probably be the end of the season now before we look at things again."