Birmingham City vice-president Peter Pannu insists the Championship club are "not close to bankruptcy" and could be attracting new investment, reports BBC Sport. Pannu used the club programme for Wednesday's play-off semi-final second leg to break the silence at St Andrew's and paint a more positive picture.
Blues are yet to submit accounts from last season's relegation campaign.
But Pannu said:
He added: "A club of our reputation, size, and may I now say, our achievements, would attract interest.
"I have in my own ways impressed upon the members of the parent group's board that should a suitable party come along, they should give it serious consideration." "I have been informed that once the accounts are finalised, an investor has been identified."
It was announced last month that Blues' holding company had failed for a fourth time to file the club's financial results for the year to 30 June, 2011.