Ricoh Arena

Next Game

Coventry v MK Dons

Saturday, 28 February 2015, 15:00

Sky Bet League 1

Bramall Lane

Last Game

Sheff Utd 2 - 2 Coventry

Saturday, 21 February 2015, 15:00

Sky Bet League 1

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

W

ell that really inspires me with confidence. No point in training, deciding on a coherent formation, or playing players in their best positions, let's just hope we get lucky.

mumbo_jimbo
Van Gaal: Luck is key

I

believe this is because for sepp Christmas is a 7 day feast finishing on the 25th

hiya
Blatter calls for early final

F

alcao really needs to shine now. Apparently according to the stats, he scores more when played up front alone. I wonder if Van Gaal will actually apply a formation to get the best out of him though.

anthracyte
Van Persie lay-off expected

Footer 365

Liverpool's Europa League exit a boost to top-four chances ahead of Manchester City showdown, says Jamie Carragher

Jamie Carragher looks ahead to Liverpool v Manchester City and reckons the Reds might find it easier to bounce back.

Arsenal announce £11m profit and £138.8m cash reserve

Arsenal have returned robust financial results, with turnover increased to £148.5m and an overall profit before tax of £11.1m.

Manchester United manager Louis van Gaal eyes 'luck'

Louis van Gaal claims the most important factor in Manchester United's pursuit of a top-four place is 'luck'.

Mail Box

Are Tottenham Right To Redevelop?

It's a really good Friday afternoon Mailbox, with thoughts on Spurs' ground development, the Europa league (leave it alone) and one man running for a very good cause...

Rodgers Is More Of A Paisley Than A Rafa

Most Liverpool fans in the Mailbox are claiming to be pleased to see the back of the Europa League. Plus merging the Europa and Champions League, and winter WC...

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