The Blues recently released their latest figures, and they showed that the club had lost £30m.
This follows on from the club breaking Financial Fair Play rules over a three-year period from 2015-2018 for which they were deducted nine points.
However, despite all of this, Birmingham still appear to be in financial trouble.
Maguire said: “Birmingham City’s finances are a mess. We know that the club has recently sold the stadium, or rather the owners of the stadium have sold the stadium to somebody else, and this is all going through offshore companies.
“Why did Birmingham sell the stadium in 2019, to begin with? It’s because they were in danger of breaching Financial Fair Play because that year, they lost nearly £30m, and the sale of the stadium reduced those losses. What have they done in 2020? Well, they’ve nearly lost another £30m.
“They do look a bit of a mess of a club because it’s one thing to lose £30m when you’re chasing promotion, but £30m when you’re trying to fight off relegation to League One that’s an awful lot of money clearly not being spent wisely by the club.”
Do you worry about the club's finances?
Yes, clearly in trouble
No, everything will be fine
TIF Thoughts on Birmingham’s financial situation…
Looking at these latest accounts, it is clear that the Blues lost a lot of money, and you would think that relegation to League One could be a disaster financially.
However, given that Lee Bowyer has picked up 14 points from his first seven games, it looks like they might avoid relegation, which could be huge for the club.
We hope that Bowyer completes the job and keeps them up; that could give the owners time to sort out their dire financial position.