Birmingham chief David Gold has warned the protracted takeover deal with Hong Kong businessman Carson Yeung is looking increasingly unlikely.
"It's bizarre, I've got to say,'' he said.
"It's bizarre in the sense that the takeover board wouldn't allow you to enhance an existing contract, however it is quite in order, in the event that that contract ends, it is within the power of the board to offer a brand new contract to a brand new person.
"It is a bit unusual and it surprised us, that's why we got legal clearance about what we could do.''
Asked about the takeover, Gold said: "I started off believing bid was 90% assured and a couple of weeks ago I reduced that to 75%. Now I believe it's only 50% but only time will tell.
"The (current) board must actually take charge of the club and fully act as if the takeover doesn't happen.
"We are working on the basis the deal will not go ahead. If it does, that's another story."