Next Game

Newport v Coventry

Tuesday, 29 July 2014, 19:30

Friendly Match

Transfer embargo at Coventry

Coventry have confirmed that they have been placed under a transfer embargo after missing the deadline to submit accounts to Companies House.

Last Updated: 01/03/13 at 12:24 Post Comment

Ricoh Arena: Transfer embargo at Coventry

Ricoh Arena: Transfer embargo at Coventry

The club are still locked in rent and revenue negotiations with Arena Coventry Limited, owners of the Ricoh Arena.

Coventry's accountants are unable to produce projected budgets until their deadlock with ACL has been resolved, and were unable to meet Thursday's deadline for filing accounts.

Chief executive Tim Fisher said: "The situation regarding rent and revenue negotiations with ACL is very well documented and without a clear route forward, we are unable to project our budgets for the coming 12 months.

"That means we are unable to file the accounts which results in an embargo.

"The owner has continued to fund the club over the past five years, to the tune of close to £45m, showing huge commitment to the club.

"That commitment remains but we have to build a strong and sustainable future if we are to put quality onto the pitch and meet the new rules under Financial Fair Play.

"As a board, we will continue to work as hard as we possibly can to try to prevent the off-the-field matters impacting on the pitch but, clearly, in this instance it hampers any room for manoeuvre we have should we need to bring anyone in over the next three weeks."

Related News

Most Commented

Readers' Comments

H

e made his power play to try and get Sheikhy to raise his wages or trade him to PSG. PSG were probably not interested and he is stuck with no cake and no vacation. @Jay_D> Surely you jest about FFP being real, right? All Platini is doing is making billionaries pay measly fines, so he and his cronies can get rich. If a fool can pay 50 mil for David Luiz, he will happily pay some fine to UEFA. FFP has failed as for it to succeed UEFA had to take it...

Synergy
Toure: I am staying with City

G

uess we can expect Toure's explanation of his behaviour around the same time Pete Townshend publishes his book then.

ceeps
Toure: I am staying with City

D

amn you Yaya, don't scare me like that! I only ate the icing. I didn't eat the soft and scrumptious middle - I will buy you another cake!

MCFC87
Toure: I am staying with City

Footer 365

Transfer News: Manchester United may need two more defenders, according to Lee Sharpe

Lee Sharpe says Manchester United may need to add another couple of defenders to their squad ahead of the new season

Transfer News: QPR want Watford striker Troy Deeney to replace Loic Remy

QPR are interested in Watford's Troy Deeney to replace Liverpool-bound striker Loic Remy, Sky sources understand.

Premier League: Manchester City winger Jesus Navas hungry for more trophies

Jesus Navas believes Manchester City have the quality to win the Premier League and Champions League this season.

Mail Box

Are Pre-Season Tours Really A Problem?

Are pre-season tours really a problem? Liverpool went to Australia last summer and it didn't prevent them from having a good season. Plus, thoughts on LvG and keepers...

It Isn't Easy Supporting Spurs, You Know

We have a long mail about the travails of supporting Spurs, plus Friday thoughts on Marko Marin, marketing, victory v beauty, travelling and vanishing sprays...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property