Former Queens Park Rangers chairman Gianni Paladini is close to completing his takeover of Birmingham City, according to a report.

The Italian tried to acquire the Blues as part of a consortium of investors back in 2012, and The Mirror reports that recent talks with Carson Yeung have been 'positive'.

The Hong Kong businessman took over the Midlands club in 2009, but faces money-laundering charges in his homeland and has admitted that he needs to sell up.

Reports suggest that the takeover could be completed in November, and he will likely be recording a loss on the £80m he invested four years ago.

Paladini was removed as chairman at Loftus Road after the takeover of Tony Fernandes in 2011.