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Birmingham share trading resumes

Share trading in Birmingham City resumed earlier today after the two executives arrested over a corruption inquiry strongly denied any wrongdoing.

Trading was suspended this morning after it emerged that managing director Karren Brady and co-owner David Sullivan were questioned by police investigating alleged corruption in English football.

The probe is focusing on payments to a football agent and two players, the club said on Thursday.

Brady, 39, and Sullivan, 59, were questioned and bailed by officers from City of London Police's economic crime unit, who raided the club's offices last month.

Both have denied any wrongdoing.

Before trading resumed at 2pm, the club said in a statement: "The City of London Police investigation is focusing on payments to a football agent and two players dating back to 2002/2003.

"There is absolutely no allegation that any director of the company or the club itself has benefited financially from any of this activity.''

The statement, released to "clarify the situation", continued: "Insofar as there may be any implications for the company, these are not considered material to its financial affairs and they are in relation to the payment, or possible non-payment of PAYE and National Insurance contributions.

"The club and its directors are co-operating fully with the police in this investigation and will continue to do so.

"For the avoidance of doubt we wish to make it plain that David, Karren and Birmingham City FC deny absolutely any wrongdoing."

Brady and Sullivan had been interviewed by police "by long-standing appointment", a club spokesman said on Wednesday night.

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

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