Coventry City releases statement regarding administration
Coventry City Football Club Holdings has confirmed that a non-operating subsidiary of the Club has today been placed into administration.
– A spokesman for the ClubIt's important to stress that the Football Club itself is not under threat.
This is merely a property subsidiary which owns no material assets and has no employees, on or off the pitch.
The Club can confirm that all staff wages, PAYE and all other creditor commitments will continue to be met as before by Coventry City Football Club Holdings.
Unlike other instances of clubs being taken either wholly or partially into administration, there are no HMRC or VAT implications.
Our main objective is to remain competitive on the pitch and give Steven Pressley and players our full backing and commitment.
The Football Club says that it will continue to trade as normal without interruption.
What does 'administration' mean?
With Coventry City the latest to be handed over to the men in suits, here is a guide to what it means when a club enters administration.
Statement from administrator of Coventry City FC Ltd
A statement from the Joint Administrator for Coventry City FC
Sky Blue Trust react to Coventry City takeover rumours
The Sky Blue Trust has reacted to reports of an impending takeover of Coventry City.