Ricoh says likely Coventry FC administration won’t affect business

The owners of the Ricoh Arena say it will be business as usual with tenant Coventry City Football Club (CCFC) set to go into administration.

Ricoh
Arena bosses Arena Coventry Ltd (ACL) dropped its High Court action
yesterday after it was confirmed that the Sky Blues’ crucial “golden
shares” with the Football League and Football Association rested with Coventry City Football Club (Holdings) Ltd, the company now in administration.

The ruling confirmed the golden shares were not with the club’s trading arm CCFC Holdings Ltd, as the club appears to claim.

All
eyes are now on the Football League to see if it now accepts the club
is in administration and to deduct 10 points from their promotion push.

CCFC Holdings Ltd is not in administration and is still owned by hedge fund owners Sisu and Arvo.

“CCFC
is important to the Ricoh Arena and everyone here wants to see a
successful and sustainable Sky Blues team playing here for many years to
come,” said an ACL spokesman. “However, football is played on just 23
days of the year and it is absolutely a case of ‘business as usual’ at
the Ricoh.

“At the moment we are looking forward excitedly to a
series of high profile events including Davis Cup tennis and concerts
from Muse and Bruce Springsteen; as well as a host of other conferences
and exhibitions which continue to go from strength to strength.”

Any conference-related news? Email conferencenews@mashmedia.net

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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