Board announce administration plan
The Coventry City board have announced that they have 'filed in court notices of intent to go into administration.'
The statement adds however: 'This is merely a legal process protecting the bank and its creditors.
'It should speed up the takeover of the club and therefore take Coventry into a solvent financial situation.
'This legal notice gives Coventry City a 10 working day window to complete the takeover talks with Ray Ranson and SISU Capital, along with all other parties.'
Vital Coventry contributors failed all of their legal exams but contrary to the headlines being bandied about on Monday, the club have not gone into administration itself from which the 10-point penalty would come.