Pennant has already said he wants to stay at Birmingham
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Birmingham managing director Karren Brady says winger Jermaine Pennant is not for sale, despite the club's relegation from the Premiership.
Liverpool had been linked with a £3.5m move for the 23-year-old but Brady said no approach had been received and such a bid would be rejected.
"We aim to go into the Championship with the best squad in the league," she told the club website.
"We want to get out as soon as possible so we will be buying not selling."
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