Coventry City FC to carry on regardless vows administrator
COVENTRY City FC will continue to play its games as normal and complete its fixtures for the current season, the man in charge of the club’s finances has said.
Paul Appleton, who has been appointed administrator of the business subsidiary that holds the club’s Football League registration, said his aim was to ensure the club continued to run as normal and under its existing management.
The commitment comes as fresh reports cast doubt over the state of the finances of near-neighbour Birmingham City.
Mr Appleton said he hoped a deal could be struck that would allow Coventry to play its remaining fixtures at the Ricoh Arena. This is despite the arena’s owners bring – and later withdrawing – an administration order against the club for non-payment of rent. It is thought stadium owner ACL is still owed around £1.3m.
“I understand there is a scenario where a compromise between the club and ACL remains a possibility. If, in my position as administrator, I can help mediate between the two sides, then that is something I am happy to do. That is my message to both parties,” said Mr Appleton.
As for the possibility of a 10-point deduction by the club for the club’s administration, Mr Appleton said that all depended on who held the Golden Share which allows the club to play in the Football League.
“CCFC (Holdings) Ltd believe they hold the Golden Share and, as they are not in administration, should not be deducted 10 points,” he added.
“The Football League believe the Golden Share rests with CCFC Ltd which would potentially mean points being docked.
“I am continuing my investigation into the matter and, as such, cannot yet comment. All I would say is that I will endeavour to keep the fans as up to date as possible within the limitations of my role.”
Mr Appleton has asked the club’s supporters to be patient with him while the complex situation is resolved.
As for Birmingham City, press reports today have raised further questions about the club’s financial affairs. The reports raise questions about how acting chairman and CEO Peter Pannu is handling the struggling Championship club and payments made to him following his appointment in the absence of Carson Yeung, who is currently awaiting trial in Hong Kong on money-laundering charges.
