Former Birmingham City co-owner David Sullivan has sensationally accused new proprietor Carson Yeung and his company Grandtop Holdings of holding a vendetta against him and the club’s pervious regime.

Sullivan has also cast doubts over Yeung's claims he will hand boss Alex McLeish a £40million transfer war chest in January, claiming his company are using allegations of false accounting as an excuse to backtrack on their financial promises.

Hong Kong businessman Yeung completed the formal takeover of the Blues on Wednesday after reaching the required shares to end the Sullivan, Ralph Gold and Karren Brady era at St Andrew’s.

However, since the £81.5million takeove,r the club's new owners are said to be unhappy after finding an excessive amount of unpaid bills - amounting to £6million - which were not declared at the time of sale.

Sullivan has hit back claiming he and the Gold brothers left a well run football club and told the new owners to concentrate on delivering on their promises.

"I'm livid, flabbergasted. We left a well-run football club. They seem to have a vendetta against us," Sullivan told The Sun.

"You have to question what their motives are. We are told that they are going to spend £40m in January and they should be looking forward to that.

"Maybe they are now having a few doubts about spending it and see this as a possible excuse.

"We are fed up with all these stupid statements. They should get on with running their football club."

Yeung has promised to invest a huge outlay on new players in the New Year and has vowed to turn Birmingham City into a stable Premier League outfit in the coming seasons.