Ricoh Arena

Next Game

Coventry v Wigan

Saturday, 08 August 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

T

his is all good fun, but anyone who thinks United are 4th best in England for anything more than a blip is properly f***ing mental. And Domenech is properly f***ing mental.

megabrow (cufc)
Schneiderlin must join United - Domenech

I

f the answer is Matt Phillips, the question should never be Who is one of your major transfer targets?

jelasfirsttouch
The Twosome Gossip

I

s this Chris Smalling playing the 'Race' card?

hump3.
Smalling wants United race

Footer 365

Manchester United 'agree Matteo Darmian fee with Torino'

Manchester United have agreed a fee with Torino for Italy right-back Matteo Darmian, according to Sky Italia sources.

Juventus midfielder Paul Pogba not joining Barcelona this year

Barcelona have insisted they are "not planning" a move for Juventus midfielder Paul Pogba this calendar year.

Tottenham to sign Toby Alderweireld say Sky sources

Toby Alderweireld is on the verge of signing for Tottenham despite a dispute between Southampton and Atletico Madrid.

Mail Box

Why Is Kane More Likeable Than Carrick?

A Mailbox which covers topics including Harry Kane, Sergio Aguero, Robin van Persie, handballs, transfer reporting and Rodgers bingo. It's not us being mean...

Van Persie: Really Expensive Wallpaper

He was bought to cover the cracks that nearly brought down the house, says one Man United fan. We also have mails on Brendan, the WWC, Aguero and...

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