Karren Brady was re-arrested by police as part of the investigation into alleged corruption in football.
Birmingham supremo questioned by police
Karren Brady was re-arrested by police on Tuesday as part of the investigation into alleged corruption in English football.
The Birmingham City managing director was questioned by officers from City of London Police before being released on bail.
Brady was arrested in connection with the case for the first time in April, along with Blues co-owner David Sullivan.
The pair were questioned on suspicion of conspiracy to defraud and false accounting.
In November 2007, officers arrested a series of high-profile figures in the national game in a controversial series of raids.
A City of London Police spokeswoman said: "A 39-year-old woman was today arrested on suspicion of a further offence as part of the ongoing football investigation."
She said it was not possible to provide details of the offence, adding: "We have been working with HM Revenue & Customs (HMRC) from the outset of the investigation.
"The investigation has always focused on money laundering.
"The Fraud Prosecution Service has identified that tax offences may be involved."