Birmingham chief executive Karren Brady and PLC chairman David Sullivan will leave the club if Hong Kong businessman Carson Yeung completes his takeover of the club.
The pair confirmed their intentions on Wednesday morning, and will end 16-year associations with Birmingham providing the deal goes through.
Yeung has formally lodged his bid for Birmingham after sending out official documents to shareholders offering £1 per share.
His company, Grandtop International Holdings, already owns 29.9% of the club and, with co-owners Sullivan and the Gold brothers, David and Ralph, having indicated they will sell their 50% stake, Yeung is already well on the way to taking complete control.
The first closing date of the offer is October 6.
Brady, who has accepted a television role on The Apprentice, said: "It was a hard decision for me to make to leave the club after so long but, with the new change in ownership, I feel the time will be right for me to move on and pursue my other ventures.
"Grandtop have asked me to retain my position as CEO but I honestly feel they must be allowed to stamp their own mark on the club and I believe that this is best done without the current board looking over their shoulder."
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