Carson Yeung has put down a UK£3 million (US$4.95 million) non-refundable deposit with a view to buying English Premier League club Birmingham City, according to the club.

Yeung's total offer would value the club at slightly over UK£80 million (US$132 million). The businessman's investment vehicle,  Grandtop International Holdings Limited, secured a share of nearly 30 per cent in the club two years ago, but has never completed the expected takeover.

"The board of Birmingham announces that on 20 August 2009 it entered into an escrow agreement with Grandtop International Holdings Limited, the holder of an existing 29.9% interest in the issued share capital of Birmingham," said a statement from the club to the Stock Exchange.

"Under this agreement, Grandtop has put down a deposit of £3million with a view to making an offer for the entire issued share capital of the company. The £3million deposit is a surety for Grandtop's ability and intention to make an offer, without which the company was unable to commit resources to considering an offer."