Following speculation that Birmingham City would be deducted points by the Football League, the club has announced via the Hong Kong stock exchange that there has been a substantial overhaul in the boardroom.
Panos Pavlakis, who has somewhat stabilised the finances of the club, remains director of both the club and Birmingham City PLC.
However, the biggest news for fans coming from the announcement was that Peter Pannu who has been in close conversations with jailed owner Carson Yeung, has been suspended from his duties at the club with immediate effect.
This decision was made so that the receivers who have come in, Ernst and Young, could continue with their work in Hong Kong.
The news broke late on the night of the 9th of March and caused much speculation amongst fans but nothing will be confirmed until at least after the end of the season when proceedings are able to take place a little more quickly.