Coventry have been placed under a transfer embargo after failing to file their club accounts on time.

The npower Championship club missed the February 29 deadline and as a result they are temporarily banned from any activity in the transfer market.

However, the Sky Blues have moved to ease fears of financial problems at the Ricoh Arena, and in a club statement, chief executive Tim Fisher said: "We want to be 100 per cent transparent and open about the situation so our supporters are left in no doubt about what is happening."

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