Birmingham peaked too early in transfer window
Peter Pannu, Birmingham City's vice-chairman, has admitted that the owner Carson Yeung's decision to reveal that Alex McLeish would have up to £40m to spend in January was "not particularly helpful," reports The Guardian.
Birmingham submitted bids for Kevin Kuranyi, Ryan Babel, Kenwyne Jones and Roman Pavlyuchenko but were ultimately forced to concede defeat in their attempts to sign a stellar striker.
Pannu believes that Birmingham were "messed around" by other clubs, including Tottenham Hotspur, but acknowledged that "prices shot up" in the wake of Yeung's statement, made when he took over at St Andrew's in October, about his intended level of investment.
"It was not particularly helpful that our president indicated a desire to buy players in January and spend some money," said Pannu. "I think that raised expectations among the clubs that we approached. But, having said that, Carson stuck to his word and executed what he promised. The other side just shied away."