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SBD Global/March 15, 2013/FranchisesPrint All
Arena Coventry, which owns Ricoh Arena, has applied to the high court to "request it makes an administration order against Coventry City," relating to £1.3M ($2M) in unpaid rent on the stadium, according to James Riach of the London GUARDIAN. The company had been in talks with the club owners, Sisu, regarding the rent and match-day revenue at the ground until ACL ended negotiations on Feb. 22, "having offered a reduction in the annual rent at the stadium" from £1.3M to £400,000 ($600,5000). Coventry City CEO Tim Fisher said that unless negotiations restarted, then the Sky Blues "would have no choice but to file for administration." ACL has since applied for a case in the high court to be heard before March 27, "having not received any of the stadium rent since April last year." If Coventry go into administration, it faces a 10-point deduction from the Football League that would come into effect this season, "ending any hope of promotion via the League One play-offs" (GUARDIAN, 3/13).
A county council "has defended agreeing to invest" £2.8M ($4.2M) in Durham County Cricket Club during budget cuts, according to the BBC. The club said the grant "will secure the future" of int'l fixtures at Chester-le-Street. Durham County Council has agreed to the deal "in principal with the club," which will host an Ashes Test for the first time this summer. A spokesperson said that investing in DCCC's future "would generate millions for the local economy." The Labour-controlled authority "recently confirmed" it must save £200M ($300M) by '18, with the loss of 1,600 jobs. DCCC said that an independent impact report revealed the club "would contribute almost" £20M ($30M) to the local economy this year, and a further £40M ($60M) over the next three years (BBC, 3/14).