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:
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.
Championship footballer Marlon King has been arrested and bailed in connection with a three car crash in Nottinghamshire.
One man is in hospital with serious injuries after the collision at 2:50pm on Friday 26th April.
It happened in Winthorpe near Newark, at the interchange between the A17 and the A46.
The Birmingham City player was arrested on suspicion of dangerous driving, but was later released on bail.
Birmingham City player Marlon King has been arrested in connection with a three car crash in Newark in Nottinghamshire which left a man with serious injuries.
A 35-year-old man was airlifted to the Queen's Medical Centre in Nottinghamshire after the collision on the Lincoln-bound carriageway of the A46/A17 interchange.
A Porsche, a Volkswagen Polo and a Vauxhall Astra were involved in the incident at 2.50pm on Friday 26 April.
Marlon King, 33, was released on police bailed last night pending further inquiries,
The former managing director of Birmingham City Football Club, Karren Brady, will appear on Piers Morgan's Life Stories tonight on ITV.
She's expected to talk about her time at the club, which ended in 2009, and what it was like to be the director at just 23 years old.
A man has been banned from attending football matches for three years after he was found guilty of shouting racist comments at two players at Pride Park.
34-year-old Adam Smith, of Allenton, has also been fined £991 for the offences which took place at a match between Derby County and Birmingham City on 27th November.
Birmingham City Academy has given ITV News Central exclusive access into the workings of a Championship football club training academy.
Football Correspondent Steve Clamp, joined the young team at Wast Hills Training Centre in West Heath, south Birmingham, to see how the squad prepare to become professional football players.