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• West Bromwich Albion need replacement for Roy Hodgson
• Hughton keen to know more about City's financial position

Birmingham City are bracing themselves for a battle to hold on to Chris Hughton after defeat in the play-offs opened the door for West Bromwich Albion to pursue the Championship club's manager as a replacement for Roy Hodgson.

Hughton refused to discuss his future in the wake of the 2-2 second leg draw with Blackpool at St Andrew's on Tuesday night that condemned Birmingham to a 3-2 aggregate defeat and ended hopes of an immediate return to the Premier League. The Birmingham manager is, however, keen to hold talks with Peter Pannu, the club's vice-president, to gain a clear understanding of the finances at St Andrew's and also to establish what sort of squad he would have at his disposal for a second season in the Championship.

Birmingham's financial position has been clouded in uncertainty for some time and it will take more than Pannu's programme notes for the Blackpool game to convince supporters that there is not genuine reason to be concerned. Birmingham International Holdings, the club's parent company, announced last month that it had failed for a fourth time to file accounts for the year to 30 June 2011, while Carson Yeung, the single largest shareholder, faces money laundering charges in Hong Kong. Yeung denies wrongdoing.

Pannu sought to play down the significance of the delay in filing the accounts and insisted the club are "not close to bankruptcy". He also claimed there could be fresh investment on the horizon. "I have been informed that once the accounts are finalised, an investor has been identified," Pannu said.

He added: "A club of our reputation, size, and may I now say, our achievements, would attract interest. I have in my own ways impressed upon the members of the parent group's board that should a suitable party come along, they should give it serious consideration."

The situation at The Hawthorns could not be more different and for that reason is likely to appeal to Hughton should he be approached about taking over from the new England manager. Albion have enjoyed decent back-to-back seasons in the Premier League and are on a stable financial footing. They also are in the market for a head coach, as opposed to a conventional manager, which would suit Hughton, who has a hands-on approach on the training ground.

Gus Poyet, whose Brighton & Hove Albion side finished four points off the Championship play-offs, is also on Albion's radar, although his lack of Premier League managerial experience could well count against him. Read More

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