The owners of Coventry City Football Club have been dealt a legal blow in a High Court challenge against the council's £14.4million bail-out to the operators of the Ricoh Arena.
The club has played at Northampton Town's Sixfields stadium since May due to a dispute over its £1.3m-a-year rent.
The consortium which owns the club, known as Sisu, claimed the city council's bail-out to Arena Coventry Ltd was "unlawful state aid" designed to "drive them out of Coventry", and demanded that the council disclose the full loan agreement.
But at the High Court, Mr Justice Silber rejected the demands - and ordered Sisu to pay more than £7,000 towards the council's legal fees.
The administrator for Coventry City says the sale of the club to a company connected to its current owners Sisu has been 'completed'.
More to follow...
"I can confirm that the asset sale by Coventry City FC Limited to Otium Entertainment Group Limited has been completed.
Otium has purchased the right and title to certain assets possessed in Limited including the shares in the Football League and the Football Association. I stress that I have only been able to sell such right and title to these as Limited possesses because CCFC Holdings Ltd asserts beneficial ownership over them."
– Paul Appleton, administrator for Coventry City FC Ltd