(CNN) -- English club Birmingham City have released a statement to explain why co-owner and managing director were interviewed by police in a corruption probe.



Birmingham co-owner David Sullivan was interviewed by police on Wednesday night.



The Premier League outfit temporarily suspended share trading on the London Stock Exchange on Thursday morning after David Sullivan -- who owns the club with David and Ralph Gold -- was questioned and bailed by officers from City of London's economic crime unit along with MD Karren Brady.



The club released a statement on Thursday afternoon to "clarify the situation" before trading resumed at 1300 GMT.



"The City of London Police investigation is focusing on payments to a football agent and two players dating back to 2002-03," it said.



"There is absolutely no allegation that any director of the company or the club itself has benefited financially from any of this activity.



"In so far as there may be any implications for the company, these are not considered material to its financial affairs and they are in relation to the payment, or possible non payment of PAYE and National Insurance contributions.  The club and its directors are co-operating fully with the police in this investigation and will continue to do so."



Birmingham was raided by the unit last month as part of an ongoing investigation into corruption in English football. The club said at the time that the inquiries related to an unrelated third party.



Birmingham released a statement on Wednesday night confirming that Sullivan and Brady "willingly attended" the interviews "by long-standing appointment."



"Birmingham City Football Club is fully committed to helping the police with their inquiries," read a statement on the club's Web site.



Police confirmed that they questioned a 59-year-old man and a 39-year-old woman on suspicion of conspiracy to defraud and false accounting and that they were released on bail, the UK Press Association reported on Thursday.



A London Stock Exchange statement read: "At the request of the company trading on Aim for the under-mentioned securities has been temporarily suspended from 7.30 a.m., pending an announcement."



Shares in the company had been selling for 35.5p until the announcement half an hour before the start of trading, PA reported.



Sullivan, 59, was in 2004 named Britain's 68th richest man by the Sunday Times, with assets of more than $1 billion. He made his fortune through pornography and newspapers.



Brady, 39, became Britain's youngest managing director when Birmingham floated on the stock market in 1997 and is married to professional footballer Paul Peschisolido. She is also non-executive director of Channel 4, Mothercare and Sport England.



PA reported that she made no comment as she left her home in Knowle, Solihull, shortly before 8 a.m. today. Dressed in a dark suit, Brady left the gated property at the wheel of a black 4x4 Porsche.  E-mail to a friend
( CNN ) -- English club Birmingham City have released a statement to explain why co - owner and managing director were interviewed by police in a corruption probe . Birmingham co - owner David Sullivan was interviewed by police on Wednesday night . The Premier League outfit temporarily suspended share trading on the London Stock Exchange on Thursday morning after David Sullivan -- who owns the club with David and Ralph Gold -- was questioned and bailed by officers from City of London 's economic crime unit along with MD Karren Brady . The club released a statement on Thursday afternoon to " clarify the situation " before trading resumed at 1300 GMT . " The City of London Police investigation is focusing on payments to a football agent and two players dating back to 2002 - 03 , " it said . " There is absolutely no allegation that any director of the company or the club itself has benefited financially from any of this activity . " In so far as there may be any implications for the company , these are not considered material to its financial affairs and they are in relation to the payment , or possible non payment of PAYE and National Insurance contributions . The club and its directors are co - operating fully with the police in this investigation and will continue to do so . " Birmingham was raided by the unit last month as part of an ongoing investigation into corruption in English football . The club said at the time that the inquiries related to an unrelated third party . Birmingham released a statement on Wednesday night confirming that Sullivan and Brady " willingly attended " the interviews " by long - standing appointment . " " Birmingham City Football Club is fully committed to helping the police with their inquiries , " read a statement on the club 's Web site . Police confirmed that they questioned a 59-year - old man and a 39-year - old woman on suspicion of conspiracy to defraud and false accounting and that they were released on bail , the UK Press Association reported on Thursday . A London Stock Exchange statement read : " At the request of the company trading on Aim for the under - mentioned securities has been temporarily suspended from 7.30 a.m. , pending an announcement . " Shares in the company had been selling for 35.5p until the announcement half an hour before the start of trading , PA reported . Sullivan , 59 , was in 2004 named Britain 's 68th richest man by the Sunday Times , with assets of more than $ 1 billion . He made his fortune through pornography and newspapers . Brady , 39 , became Britain 's youngest managing director when Birmingham floated on the stock market in 1997 and is married to professional footballer Paul Peschisolido . She is also non - executive director of Channel 4 , Mothercare and Sport England . PA reported that she made no comment as she left her home in Knowle , Solihull , shortly before 8 a.m. today . Dressed in a dark suit , Brady left the gated property at the wheel of a black 4x4 Porsche . E - mail to a friend
Police raided what city in March?
Police raided what city in March ?
Birmingham
Birmingham