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Birmingham City Owner, Carson Yeung, has cut all ties with the holding company that owns the club.
Yeung confirmed he had resigned from his position as executive director of Birmingham International Holdings Limited (BIHL) via the Hong Kong Stock Exchange earlier today.
A statement from BIHL read:
"The board of directors of Birmingham International Holdings Limited announces that Mr Yeung has resigned from all directorships of the group, including his position as an executive director with effect from 4 February 2014...
... Mr Yeung resigned for the reason to devote more time to his other personal commitments. Following his resignation, Mr Yeung holds no positions in the group."
Birmingham City players will be visiting a local primary school today to promote equality in football.
The news comes amid two racist-related incidents concerning footballers in the midlands.
Staffordshire Police are currently investigating racist tweets sent to former Aston Villa player Stan Collymore.
West Bromwich Albion striker, Nicolas Anelka, has also been charged by the FA this week, for using an anti-semitic gesture as a goal celebration; a charge he denies.
A man has been arrested for inciting racial hatred after he tore pages from a Quran during a Birmingham City and Middlesborough game.
The incident took place on Saturday 7 December at St. Andrew's and was reported to police by a match steward.
The man is now on bail and is banned from attending any football matches, or any cities where Middlesbrough FC are playing.
Speaking about footballer Marlon King's arrest on suspicion of dangerous driving after a three car crash in Nottinghamshire, a spokesman for Birmingham City said:
"We are aware of a road traffic accident involving our player and the matter is now being investigated by the police."
A man was airlifted to hospital with serious injuries on Friday 26 April after the collision at Winthorpe near Newark.
Mr King was released on police bail pending further inquiries.