The outgoing deputy chairman of Coventry City FC, John Clarke, has denied rumours that the Sky Blues are in imminent danger of liquidation. There is no sign of a resolution to their year-long rent dispute with ACL who run their stadium at the Ricoh Arena.
Coventry sources had suggested that one option being examined was liquidating one arm of the business – Coventry City Football Club Limited. Coventry City Football Club (Holdings) Ltd would then continue as the club’s operating and trading company.
The outgoing deputy chairman of Coventry City FC, John Clarke, has denied rumours that the Sky Blues are in imminent danger of liquidation. There is no sign of a resolution to their year-long rent dispute with ACL who run their stadium at the Ricoh Arena.
Coventry sources had suggested that one option being examined was liquidating one arm of the business – Coventry City Football Club Limited. Coventry City Football Club (Holdings) Ltd would then continue as the club’s operating and trading company.
It would be seen as a way of getting around, or limiting the problems, caused by debt orders served against the club by ACL, to recover £1.3m rent arrears.
ACL’s latest accounts show that it doubled its profits in the year to May 2012. There was an operating profit of £1.087m on a turnover of £7.783m, compared with a profit of £470,000 in the previous year. However, the accounts relate to a year when the Sky Blues paid nearly all the £1.2m rent for the stadium.
Rumours continue to swirl round the troubled club, the latest being that chief executive Tim Fisher has resigned, a report that he has denied.