According to a statement issued by Coventry City in response to action taken by Arena Coventry Limited, the Sky Blues are intimating that they are looking for an alternative home playing venue, where they can afford to play.
The statement is as follows: "We are disappointed by ACL’s actions today to issue a statutory demand to Coventry City Football Club rather than, as we had requested, sitting down with us to negotiate a level of rent which the Club can afford and which is in line with the rent paid by other clubs.For reference, ACL has been charging CCFC an annual rent of £1.28 million, which we understand is the highest in both League One and the Championship. We understand that the average annual rent paid by League One clubs (excluding CCFC) is less than £170,000 and that the average in the Championship is less than £290,000. All other clubs which rent their stadia get full access to 100% of match day food, beverage and car parking revenues, unlike CCFC. The Club’s objective in requesting these negotiations with ACL has been only to bring about a state of commercial normality, where CCFC pays the same level of rent and has access to the same type of ancillary revenues as the other football clubs with which it competes. It is unsustainable for CCFC to be put at a severe financial disadvantage to its peers. While we have been seeking to normalise the rent, we have continued to pay match day costs to ensure that ACL is not left out-of-pocket. These costs amount to over £250,000 per season, much more than the average rent paid by League One clubs. In addition to defraying ACL’s match day costs, the Club has been subsidising ACL’s general overheads ever since the Sky Blues started playing at the Ricoh Arena, amounting to many millions of pounds over seven years. The Club remains committed to the city and people of Coventry. However, its viability depends on it finding an alternative home ground where it can afford to play. More on this: http://www.ccfc.co.uk/news/article/club-statement-051212-527868.aspx
Source: Coventry MAD