Sky Blues hope to resolve row

Coventry remain committed to reaching an agreement with the management company behind the Ricoh Arena as their ongoing rent row rumbles on.

Last Updated: 16/02/13 at 08:01

Ricoh Arena: Row over rent rumbles on

Ricoh Arena: Row over rent rumbles on

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Arena Coventry Limited (ACL), who manage the stadium on behalf of joint owners the Alan Edward Higgs Charity and Coventry City Council, announced on Thursday that talks with the League One club's owners Sisu had "collapsed".

A statutory demand for £1.1million in unpaid rent stretching back 10 months was issued to the Sky Blues in early December - a figure which now stands at more than £1.3million - and ACL chairman Nicholas Carter warned "now is the time for Sisu to pay up or sell up and get out of Coventry".

ACL also claimed Sky Blues directors had backtracked on a verbal agreement made between the two parties towards the end of January to primarily cut the £1.28million annual rent to £400,000, as well as waive more than £300,000 of the debt amid other details including a revised share of matchday revenue.

The feud was stepped up a notch yesterday as Coventry saw their bank accounts frozen by ACL, who have issued the club with interim Third Party Debt Orders in a bid to recoup the money owed to them.

In light of the latest developments, Coventry have made their first official comment.

A statement on the club's website read: "Despite the recent campaign by ACL to force the football club into a deal that would be completely disadvantageous, Coventry City Football Club remains committed to work through to the conclusion of a deal that is acceptable to both parties.

"This deal must take into consideration matchday revenues to support the need for a squad which is strong and competitive and yet still complies with Financial Fair Play and salary cap rules.

"Therefore, we again propose to invite a leading expert in football finance - such as Deloitte - to act as mediator and help drive through a deal which makes sense."

City, consigned to third-tier football for the first time in 48 years when they were relegated from the Championship last May, left their Highfield Road home in 2005 to take up residence at the 32,000-seater Ricoh Arena.

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

A

nd yet... Jermain Defoe is still going to pronounce himself gobsmacked when he learns he hasn't made the England squad for the Euro qualifiers.

treeman1
Premier League Winners And Losers

W

e could release Diaby and then re-sign him when nobody else does and he would literally be like a new signing.

john matrix
The Machine Gossip

W

e pay the living wage, living wage, living wage, and that's the way we like it, we like it, we like it!!! Wooo ohhhh ooooohh

hump3.
All Premier League Clubs Should Be Paying Living Wage

Footer 365

Papiss Cisse will serve seven-match ban after admitting FA charge

Newcastle's Papiss Cisse will serve a seven-match ban after admitting an FA charge relating to Wednesday's spitting incident.

FA charges Newcastle's Papiss Cisse and Manchester United's Jonny Evans

The FA have charged Newcastle's Papiss Cisse and Manchester United's Jonny Evans over Wednesday's 'spitting' incident.

Jonny Evans issues denial as Papiss Cisse apologises in 'spitting' row

Manchester United's Jonny Evans has denied spitting at Papiss Cisse, while the Newcastle striker has apologised for his actions.

Mail Box

Have To Trust Managers On Mata

It's all very well bemoaning the lack of action for Juan Mata, but we have to trust the judgement of Van Gaal and Mourinho. Plus Martinez Out, and Leicester are doomed...

Should Gerrard Get In This Liverpool Side?

Never mind the long goodbye, should he actually get back into this excellent Liverpool side playing with pace? Mostly we talk Manchester United, though. It's good...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company