The arrests follow last month's raids on Barclays Premier League club Birmingham as part of an ongoing inquiry by the City of London Police's economic crime unit.

Detectives confirmed on Wednesday they questioned a 59-year-old man and a 39-year-old woman on suspicion of conspiracy to defraud and false accounting.

They were released on bail, police confirmed.

A further seven people, believed to include Portsmouth boss Harry Redknapp, remain on bail in connection with the inquiry.

A statement from Birmingham released tonight read: "David Sullivan and Karren Brady on behalf of Birmingham City Football Club were invited to co-operate with a City of London Police investigation and have happily done so. By longstanding appointment, they have willingly attended interviews today.

"Birmingham City is fully committed to helping the Police with their enquiries.

"For the avoidance of doubt, no charges have been brought.

"We have been requested by the Police not to comment further whilst their enquiry is ongoing."