Birmingham City manager Lee Clark can finally start implementing his plans for next season after the Football League lifted Blues’ transfer embargo after 125 days.
The ban was imposed last March when Blues and their parent company Birmingham International Holdings Ltd (BIHL) failed to submit their financial accounts for the year up to June 2011.
The accounts are still outstanding, but the Football League have been assured enough by Blues’ financial figures and future projections to lift the restrictions at St Andrew’s.
Acting chairman Peter Pannu told the media: “We are pleased that the hard work of those at the club and the Football League has paid off and that the financial prudence put in place since Carson Yeung’s arrest has been recognised.
“Despite the lifting of the embargo, we still need to ensure that this financial prudence remains in place going forward.”
This means that Clark will have to rely on free transfers and loan signings, but he would no doubt have been aware of this situation before he agreed to take the job.
The embargo was lifted on the same day that club captain Stephen Carr agreed to sign a 12 month contract to keep him at St Andrew’s.