Otium seal Coventry purchase

The joint administrator at Coventry has confirmed the sale of the football club to Otium Entertainment Group has been completed.

Last Updated: 27/06/13 at 16:32 Post Comment

Ricoh Arena: Coventry's home next season in League One

Ricoh Arena: Coventry's home next season in League One

More of the games that matter

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

Four bids were lodged for the club two weeks ago and Otium have seen off the competition to take control.

A statement from Paul Appleton read: "This has been no ordinary football administration and I have tried to undertake a sale process which allows the Club to compete in all of next season's competitions.

"Obviously, one of the key points now is to determine where the Club plays its football next season, but that is a matter for the purchasers and the Football League.

"In this regard, the offer made by ACL to allow the Club to play at the Ricoh was dependent on Limited remaining in administration and was based on the mistaken belief that Limited had the ability to field a team.

"However, as I've stated on many occasions, it is Holdings which employs the players and, consequently, Limited was never in a position to take up the offer.

"The Football League have been kept closely informed of developments and I am continuing to work closely with them so that the process of transferring the share can begin."

The Sky Blues and Arena Coventry Limited (ACL), who run the Ricoh Arena on behalf of joint owners the Alan Edward Higgs Charity and Coventry City Council, have been involved in a lengthy and bitter rent row which has been ongoing for around 16 months.

More of the games that matter

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

Related News

Most Commented

Readers' Comments

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

P

laying badly and winning is the mark of champions, they say - but surely that's only true if you *occasionally* play badly and still manage to win on those occasions, while actually looking like champions the rest of the time? I've no idea what United's current performance level is the mark of

stevenjameshyde
When Do You Worry About Winning?

Footer 365

Simon Mignolet says Liverpool vice-captain Jordan Henderson leads by example

Simon Mignolet admits stand-in skipper Jordan Henderson has emerged as a real leader for his Liverpool team-mates.

Jonny Evans and Papiss Cisse involved in 'spitting' incident during Newcastle-Manchester United clash

The FA is reviewing an incident during Newcastle's clash with Manchester United when Jonny Evans and Papiss Cisse appeared to spit at each other.

Newcastle 0-1 Man United: Evans and Cisse accused of spitting as visitors leave it late...

Manchester United nicked a 1-0 win at Newcastle but Jonny Evans and Papiss Cisse were involved in an unsavoury incident.

Mail Box

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...

Look Away Now Please, Sherwood...

Sherwood's cringeworthiness, Matic's Wembley celebrations, why LVG must show balls - it's all here in your Wednesday afternoon Mailbox...

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