Coventry City Football Club have been offered a deal that could see them remain at the Ricoh Arena.
The deal between the club and Arena Coventry Limited will see the club avoid a 15-point-penalty and even potential liquidation if they were to carry on the previously planned move to Northampton Town’s home, Sixfields.
However, the deal that could extend their stay at the Ricoh Arena for the next 10 years will come at a cost. The deal is said to cost Coventry about £150,000 as an annual fee, which could increase to as much as £400,000 if they were to be promoted to the Npower Championship.
What is referred to as a Company Voluntary Agreement is the latest twist in the long-running dispute between the ACL and Coventry City’s owners, which has undoubtedly come as a surprise for the media and fans alike.
So fans would have great relief to learn about such a miraculous deal that would have great influence on their chances of surviving to carry on in the Football League.
Until anything else can save the club, Coventry City Football Club Limited will remain in a state of administration. The news of the surprise offer came after a meeting of creditors was adjourned until Friday, under the request of the stadium’s owners.
In the meantime, Coventry fans have been rallying in protest of the negotiations between Coventry and Northampton over a potential ground share that could last for about 3 years, which would result in a hefty points penalty for Coventry; and ultimately, liquidation.
Among the protest, Coventry’s owners have spent July outlining plans to return to a new home in the city in “the long-term.”
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