Coventry City's owners SISU have written £32m's worth of debt, according to this morning's Coventry Telegraph.
The debts has been written of as part of the selling of Coventry City Football Club Ltd to Otium Entertainment Group for £1.5m.
Arena Coventry Limited, will if they agree to the Company Voluntary Arrangement will get 25.95p in the pound back or just over half a million pounds.
However, if they disagree, they will get a half penny in the pound as the CCFC Ltd company will then be liquidated.
Full story: http://www.coventrytelegraph.net/news/coventry-news/sisu-agrees-write-32m-debt-4872430?
Source: Coventry MAD
Source: FOOTYMAD
