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SBD Global/February 18, 2013/Franchises
Stadium Owners Seize Income Of League One Coventry City To Recover $2M In Unpaid Rent
Published February 18, 2013
NOT WINDING THEM UP: The BBC reported the ACL board underlined that "it is not a winding-up order on the Sky Blues." The club was "initially given until Boxing Day to pay up, or face a winding-up petition, a deadline that was then extended" until Jan. 2, since when the two parties "have been in negotiations" (BBC, 2/15). The PA reported in light of the latest developments, Coventry has made its first official comment. A statement on the club's website read: "Despite the recent campaign by ACL to force the football club into a deal that would be completely disadvantageous, Coventry City Football Club remains committed to work through to the conclusion of a deal that is acceptable to both parties." The statement continued: "This deal must take into consideration matchday revenues to support the need for a squad, which is strong and competitive and yet still complies with Financial Fair Play and salary cap rules" (PA, 2/16).