ACL's Press Company Deny Administration

29 November 2012 12:00
ACL's business is strong and healthy

The London based company handling some of the media for Ricoh Arena owners Arena Coventry Limited have issued a statement denying that the company is close to administration.

According to the Coventry Telegraph's Les Reid, the statement is as follows: “The ACL board met yesterday and it discussed the current non-payment of rent and the need for a solid plan from Coventry City Football Club and its owners, the Mayfair-based hedge fund Sisu.

“The situation remains that, as of December 1, more than £1 million in outstanding rent will be owed.

“As we have stated, we have been patiently discussing this issue for nine months but when rent began to be withheld, ACL began to charge matchday costs to cover staffing and overheads for each match.

“These ensure that the stadium can open and that fans can have a safe and enjoyable time. Several of these services - some of which were included in the rent, some not - are sold on for a profit by CCFC and Sisu.

“ACL’s business is strong and healthy and we look forward to the future with confidence. Instead of peddling absurd speculation, CCFC needs to focus on a plan to safeguard its future - a future that lies entirely in its hands and in those of its wealthy owners.”Read More

Source: Coventry MAD