Shares in Birmingham City have been suspended at the request of officials from the club.
The officials asked that shares be suspended temporarily pending an announcement to come later, reports the BBC.
The news comes after David Sullivan, one of the club owners and Karren Brady, managing director of the club, were arrested and questioned by City of London Police. Both of them have now been bailed.
The pair were questioned on allegations of false accounting and conspiracy to defraud.
The Birmingham City website said it was fully committed to working with the police in their investigations. The club said that, at the request of the police, it would not be making any further comment while investigations were ongoing.
The club also said that the arrested pair had spoken to the police in a longstanding appointment.
Seven other people connected to the investigations are also on bail.