By Dave Woodhall.

Further doubt has been cast on the future of Birmingham City. Their last-day relegation from the Premier League may cost the club in the region of £50 million and their parent company, Birmingham International Holdings (BIH), has seen its share price slump on the stock exchange in Hong Kong where it is based.

The Premier League expressed concerns about Blues’ financial position during last season, although acting chairman Peter Pannu claims BIH are sufficiently removed from playing operations to remove doubts about the club’s viability and recently said that they do not have to sell players to remain afloat.

Now the company has been rocked further with the resignation of two board members. Ip Wing Lun, who was company secretary as well as an executive director, and Chang Kin Man, an independent non-executive director, announced their resignations from the company on Tuesday, although both stressed that their departures were not for business reasons.

Chinese business newspaper Apple Daily reported that club owner Carson Yeung had been denying rumors that the two directors were leaving up right until their departure was made official, and that the company now lacks independent board members. Mr Ip’s wife Wong Po Ling remains an executive director of the company.

This news can only add uncertainty to Blues’ attempts to get back into the Premier League at the first attempt.