By Jonathan Davies

Police in Hong Kong have arrested a 33-year old man in connection a potential theft of £2.5m from the owners of Birmingham City Football Club.

Police said the man was released without charge pending further investigation.

Birmingham City's owners, Birmingham International Holdings which is based in Hong Kong, said a former employee may have "misappropriated" £2.5m.

The firm said to loss "may have a material impact on the operation and financial situation of the group".

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