Otium seal Coventry purchase

The joint administrator at Coventry has confirmed the sale of the football club to Otium Entertainment Group has been completed.

Last Updated: 27/06/13 at 16:32 Post Comment

Ricoh Arena: Coventry's home next season in League One

Ricoh Arena: Coventry's home next season in League One

Free £50 bet

Daily Offers and Promotions, sign up for a free £50 matched bet

Four bids were lodged for the club two weeks ago and Otium have seen off the competition to take control.

A statement from Paul Appleton read: "This has been no ordinary football administration and I have tried to undertake a sale process which allows the Club to compete in all of next season's competitions.

"Obviously, one of the key points now is to determine where the Club plays its football next season, but that is a matter for the purchasers and the Football League.

"In this regard, the offer made by ACL to allow the Club to play at the Ricoh was dependent on Limited remaining in administration and was based on the mistaken belief that Limited had the ability to field a team.

"However, as I've stated on many occasions, it is Holdings which employs the players and, consequently, Limited was never in a position to take up the offer.

"The Football League have been kept closely informed of developments and I am continuing to work closely with them so that the process of transferring the share can begin."

The Sky Blues and Arena Coventry Limited (ACL), who run the Ricoh Arena on behalf of joint owners the Alan Edward Higgs Charity and Coventry City Council, have been involved in a lengthy and bitter rent row which has been ongoing for around 16 months.

Free £50 bet

Daily Offers and Promotions, sign up for a free £50 matched bet

Related News

Most Commented

Readers' Comments

H

e made his power play to try and get Sheikhy to raise his wages or trade him to PSG. PSG were probably not interested and he is stuck with no cake and no vacation. @Jay_D> Surely you jest about FFP being real, right? All Platini is doing is making billionaries pay measly fines, so he and his cronies can get rich. If a fool can pay 50 mil for David Luiz, he will happily pay some fine to UEFA. FFP has failed as for it to succeed UEFA had to take it...

Synergy
Toure: I am staying with City

G

uess we can expect Toure's explanation of his behaviour around the same time Pete Townshend publishes his book then.

ceeps
Toure: I am staying with City

D

amn you Yaya, don't scare me like that! I only ate the icing. I didn't eat the soft and scrumptious middle - I will buy you another cake!

MCFC87
Toure: I am staying with City

Footer 365

Transfer News: Real Madrid sign James Rodriguez from Monaco in £63million deal

Real Madrid have signed Colombian star James Rodriguez from Monaco in a £63million deal.

Friendly: Siem de Jong and Emmanuel Riviere score in Newcastle victory

Debutant Emmanuel Riviere was amongst the scorers as Newcastle cruised to an emotional 4-0 friendly win over Sydney FC.

Premier League: Cardiff captain Steven Caulker to have QPR medical

Cardiff defender Steven Caulker is having a medical with QPR, Sky sources understand.

Mail Box

Goodbye Patrice And Farewell Steven...

Man United fans say a fond farewell to Patrice Evra in the mailbox while there are also thoughts on Steven Gerrard's retirement from England duty. Plus, some rare cricket bantz...

Defending Spurs' Transfer Spending...

Liverpool have been accused of 'doing a Spurs' this summer, but one Spurs fan argues that the club's business last year shouldn't be viewed in a negative light...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property