Former Birmingham City managing director Karren Brady is one of five shareholders selling their stake in the club to a Hong Kong businessman, it has been revealed.
Grandtop International Holdings (GIHL) has been granted permission to purchase up to 29.9 per cent of the club from the group of shareholders, which also includes club chairman David Gold, his brother Ralph and the chairman of the club's holding company David Sullivan.
Grandtop is owned by businessman Carson Yeung, who originally made his substantial fortune from gas and electricity.
He has failed in attempts to purchase Birmingham's Premiership rivals Reading in the past and currently owns Hong Kong Rangers football club in the Far East.
The deal must be completed by 17:00 BST on July 16th and, provided it goes through, it will mean Brady and fellow shareholder Roger Bannister – the fifth member of the selling party – will have no further say in how the club is run.
The Gold brothers and Mr Sullivan will all retain some control but with a reduced stake, although Mr Yeung will become the majority shareholder.
Although the announcement did not include any details of the whether the overseas group would be launching a full takeover bid, there was a suggestion that this could happen in the future.
"Shareholders should be aware that there is currently no indication at this stage that a formal offer will be made for the company as a whole but discussions are continuing with GIHL which may or may not lead to a cash offer being made for the company in due course," the club statement to the stock exchange concluded.
In selling the majority of her shares Ms Brady draws to a close a period of 15 years in a position of responsibility at the club.
She famously became the youngest managing director of a top-flight football club in 1992, aged just 23, and she also played a major role in floating Birmingham City on the stock exchange five years later.
Digg 
Delicious 
Reddit 
StumbleUpon 
Google 
Technorati 
Netvouz