Coventry City: Administrator adjourns club's creditors' meeting

A creditors' meeting in London which could lead to Coventry City coming out of administration has been adjourned until next week.

Paul Appleton, Coventry City FC Ltd's joint administrator, issued a statement saying that a Company Voluntary Arrangement (CVA) is not yet set up.

The Sky Blues saga . . .

"It's still this great game of poker between the two sides that has been rumbling for many months. They both still want to get out of it what they can, but there seems to be no meeting of minds to find the best outcome for everybody.

"ACL would still like the club to play at the Ricoh, but clearly the owners of the club don't want that to happen and have their own agenda as to how they want to take the club forward. This is perhaps ACL's last chance to get something out of this situation, other than seeing the club go and play somewhere else.

"The administrator is only in control of very little. All he can ultimately sell is the right to play at the Ricoh and the right to play in the Football League. The rest of the club is owned by a different company.

"The involvement of the Football League is still dispiriting in terms of how they have allowed the situation to occur and how they are not able to enforce a different outcome. They're still just stepping back and hoping that something will come along and solve their problem."

Sky Blues fan Alan Limb, who works for an independent company of insolvency practitioners, Business Recovery and Insolvency, talking to BBC Coventry & Warwickshire.

"I adjourned the creditors' meeting to discuss the proposed CVA Proposals until Tuesday July 30," said Appleton.

"It gives all parties further time to reflect on their positions."

Next Tuesday's meeting will take place just four days before the troubled club kick off the new League One season with a trip to Crawley.

And the threat remains that the Sky Blues, deducted 10 points for going into administration last season, could still suffer a similar punishment.

City went into administration in March and remain so, despite being taken over last month by London-based Otium Entertainment Group, who have strong links to previous owners Sisu.

Having previously threatened to leave the Ricoh Arena, their home since 2005, the club have agreed a three-year groundshare deal with League Two Northampton Town at Sixfields.

There have since been a succession of public protests by supporters - along with threats by City fans to boycott 'home' games.

The Ricoh's owners, Arena Coventry Ltd, say they have made provisions to carry on without the Sky Blues, who are due to begin life at Sixfields with a League One fixture against Bristol City on Sunday 11 August (15:00 BST).