Long-standing Birmingham City servants David Sullivan and Karren Brady have announced they will leave the club if Carson Yeung's takeover attempt proves successful.
After securing a £57 million bridging loan to finance his move, the Hong Kong businessman made a formal offer to shareholders on Tuesday through his company, Grandtop International Holdings, and has set a deadline of October 6 for a response.
Yeung, who attempted a takeover of the club two years ago before a lack of finance scuppered his plans, already owns 29.9% of City and is believed to be keen on securing complete control at St Andrews.
If he is successful then Birmingham will be losing two familiar faces with both chief executive Brady and plc chairman Sullivan confirming they will not form part of Yeung's new board. The pair both joined the club in 1993 but Sullivan's co-owner, David Gold, will be staying on.
"I leave with very fond memories of the past 16 years," Brady told the club's official website. "We have been extremely successful at running the club together. David Gold has confirmed that he is remaining in position as chairman so that he can continue doing the fantastic PR job he has done for us over the past ten years for Grandtop.
"I would like to thank all the fantastic supporters for welcoming a 23-year-old woman into the club and sticking with me into middle age. Most importantly I thank my fabulous staff, who I shall miss immeasurably for their support, dedication and loyalty they have shown to me over the last 16 years."
Sullivan has been open in his desire to leave Birmingham for some time and is now hoping to find a role with another English club.
"I intend to remain in football, so following the takeover I will be looking for a new challenge where my experience, my success and my sound business acumen will make a difference," Sullivan said. "Finally I wish the supporters well and hope that the new owners will be able to build upon the firm foundations we have laid for them."