City in troubled waters

[Beefy]

I hear Coventry are struggling financially and could soon be going into administration. Having gone through all this shit with Leeds over the last few years i really hope they pull out all the stops and rebuild the club back to it's former glory. Football fans should stick together, we all love to hate other clubs but if the other clubs go out of business what's left?

[Darren]

I have heard this about Coventry City, it would be very sad if this actually happened.

[Rufc89]

i cant see it happening, we were on the brink of going bust, thank god we didnt, but coventry are a big club and someone will come in.

the worst is they will go in admin, and have 10 pointsus
us millers fans will help if need some money, after what everyone did for us.

[briggcov]

Thanks for your concern, I have to say I am watching the Coventry web site constanly for news, the link below is the Coventry Telegraph which gives quite a good report on the present situation;

icCoventry - Ray Ranson hopeful on Coventry City takeover

It seems that part of the delay was that the Co-Op bank was not happy with part of the Ray Ranson & SISU package, that seems to have been resolved. With the bank stomping up another £1million to cover November wages in light of this potential takeover the threat of administration has passed for another month. That by the way makes Coventry's debt £39million.

They just need to get the deal ratified before the end of the month, I'd rather they did it today and put me out of my pain. If the takeover goes through and Coventry get the transfer embargo lifted there is a chance to salvage the season yet, anyone want to buy Kevin Kyle?

[Beefy]

Coventry's board has announced its intention to take the cash-strapped club into administration.
But the Sky Blues remain hopeful that a takeover by a consortium led by football entrepreneur Ray Ranson will be completed before then.

"This legal notice gives Coventry a 10-day window to complete the takeover talks," said the board's statement.

If the Championship club do go into administration, they will be deducted 10 points.

Coventry lie 14th in the table, with estimated debts of £38m, and their perilous financial state led to a transfer embargo being imposed.

Manager Iain Dowie has warned that he would consider his position if the club went into administration.