SBD Global/March 15, 2013/Franchises

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  • Coventry City Face Threat Of Administration After Unpaid Rent Claim

    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).

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  • Council Defends $4M Grant For Financially Struggling Durham County Cricket Club

    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).

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