On 4 June 2012, it was announced that McManaman had resigned as an executive director of Birmingham International Holdings, the company that owned Birmingham City. On 19 September 2012, the Hong Kong Stock Exchange criticised McManaman "... for failing to use best endeavours to procure Birmingham City International Holdings' compliance with the Exchange Listing Rules". The exchange said the company failed to disclose a large deposit it had to make as it was preparing to buy the English football club Birmingham City in 2009. The exchange also said the purchase of the club should have been put to the company's shareholders for their approval, which it was not. By 2014, Yeung was convicted of money laundering and Birmingham International was alleged to have been running out of money, leading to its suspension. McManaman maintained throughout that 'he had agreed to be on the board of BIHL for a role which was "more of a PR exercise". He said he had no involvement in any financial dealings, and "stepped away" after June 2011 when Yeung was arrested in Hong Kong and charged with money laundering offences.'