Offer for Coventry accepted

Coventry City's administrator has accepted a bid from a company linked to the League One club's current owners.

Last Updated: 14/06/13 at 19:09 Post Comment

Coventry: Administrator has accepted a bid

Coventry: Administrator has accepted a bid

The Otium Entertainment Group were one of four bidders for City, who were docked 10 points by the Football League after a subsidiary company entered administration in March.

Another subsidiary company of the club, Coventry City Football Club (Holdings) Ltd, remains in business and shares two directors with Otium.

And administrator Paul Appleton has acknowledged that his choice of preferred bidder may not prove popular with the club's supporters.

He said: "I realise and appreciate the end result of the sale process will not necessarily be welcomed by a large number of Coventry fans.

"However, the bid from Otium Entertainment Group Limited was substantially more than any of the other three bids received.

"It was the bid which gave the greatest return to the unsecured, non-connected creditors of CCFC Limited by a considerable margin.

"This offer allows me to achieve the purpose of the administration and, following discussions with the Football League, I am hopeful a completion of the sale can be achieved as swiftly as possible."

A club statement issued in response to Appleton's decision read: "We are pleased with the decision which helps to assure the future of the club.

"Our absolute focus now is to exit CCFC Limited from the administration process so we can get back to running a football club and make the decisions we need to in time for next season."

Related News

Most Commented

Readers' Comments

S

till reckon Chelsea will go for Khedira as back up for Matic. I think it will turn out to be quite a Mourihno-y window: We'll see the squad players and youth in action pre-season, say things like well, we need not buy anybody and then the club will bid £60m for Pogba and send everybody on loan.

tk421
F365's Transfer Guide - Part One

I

would love to be a fly on the wall at the meeting between Milner and Rodgers. I don't know if flies can count, but if they can then I would be counting the number of times Rodgers used the word outstanding in his attempts to get Milner to sign.

godzilla
Reds and Arsenal chase Milner

W

ell, it wouldn't be a summer without Arsenal fans fretting over losing a key player, and United throwing their weight around and muscling in on transfer deals which are (apparently) near to completion. If we can't be entertained by the football on the pitch, let's enjoy the silly off-pitch soap opera of the transfer season. Hurrah!

CamberleyGooner
The Back To It Gossip

Footer 365

Gundogan yet to make decision on future

Borussia Dortmund midfielder Ilkay Gundogan could yet join Manchester United this summer, according to a report from Germany.

Liverpool close in on Milner - Report

Want-away Man City midfielder James Milner could be announced as a Liverpool player by the end of the week, according to reports.

Atleti, Arsenal and Liverpool target Vietto

Villarreal are reportedly attempting to renegotiate Luciano Vietto's contract to ward off interest from Atletico Madrid, Arsenal and Liverpool.

Mail Box

Calling Carlo For Liverpool... Please

One Liverpool Mailer wants a manager who isn't starstruck by the job. Plus why Milner has now become overrated, play-offs for the title, Ronaldinho and democracy..

James Milner: Jose's Perfect Player?

Probably. But presumably he would not swap one bench for another. We have mails on over-hyped players, Arsenal enthusiasm, UEFA, FIFA and naked dudes...

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