Birmingham City have confirmed that they have received an offer of a potential takeover bid.

The club released a statement to the stockmarket: “The directors have noted the recent movement in the share price and the press speculation and confirm that they have had an approach with regard to a possible acquisition of the issued share capital which may or may not lead to an offer for the company,” read a club statement.

“Such discussions are at a very preliminary stage and the directors note that there is no certainty that a transaction will result from the approach.”

Reports over the weekend linked the club with a £70m bid from an unnamed foreign businessman and the club’s co-owner David Gold said promotion had made Birmingham a prime target for a takeover.

“It wouldn’t surprise me at all if the club were approached,” he said.

“What’s happening in the Premier League is that, as the super-clubs are being taken over, Birmingham will start to become the next iconic football club.

“While you have still got Tottenham Hotspur available to a foreign buyer, they will want to buy a club like that ahead of Wigan, Bolton, Blackburn, Middlesbrough. Birmingham could be above those clubs because it bears the name of one of the greatest cities in Europe.

The likes of Manchester United and Newcastle have gone and slowly you will find that Birmingham is at the top of the pile.”