Ricoh Arena

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Ricoh Arena

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Saturday, 27 September 2014, 15:00

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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."

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Readers' Comments

I

put Ince in my fantasy football team, so it's no surprise at all really. I do that to players. Also responsible for De Jong and Upson being injured. Think I'll transfer in Di Maria just to ruin United....

megabrow (cufc)
F365's Top Ten Surprise Strugglers

L

ovren? £20m always seemed a touch on the expensive side, but I wasn't expecting him to be quite such a waste of money

stevenjameshyde
F365's Top Ten Surprise Strugglers

H

alf of our players have the physical presence of a 14 year old girl. I don't know why people are always shocked that they're injured.

TheWhiz
Wenger baffled by injuries

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