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Saturday, 09 August 2014, 15:00

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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."

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Readers' Comments

I

worry about these types of conclusions on a teams brilliance when it was very clear that Argentina had 4 chances where they really should have scored and on chances alone then it would have been the more pragmatic Argentinians who would be the best in the world. I like the Germany team but this just shows that even with planning it relies on a great deal of luck and finding your opponents at just the right time.

dryice
Reward At Last For Years Of Careful Planning

W

e all know the British public don't have the patience to plan for 14 years. No chance. As soon as our young players don't win the world cup they get harrassed and abused to the point of mental breakdown. No, England likes to react to failure by sacking the manager and tearing up their best laid plans in favour of something shiny and new to keep the knee jerkers happy.

HarryBoulton
Reward At Last For Years Of Careful Planning

G

lad Messi was player of the tournament, there was no-one more deserving. Except Robben. And James Rodriguez. Or Muller and half the Germany team etc etc

sailingmagpie
Golden Ball award for Messi

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