According to the Coventry Telegraph's Les Reid, the Golden Share which is effectively the licence to be a member of the Football League/Premier League is owned by CCFC Ltd.
This, according to Mr Reid has been confirmed by both the Football League and Football Association and would mean that the whole of the club is in administration not just the non operating CCFC Ltd part.
Arena Coventry Limited's Lawyer James Powell told Mr Reid: "We had a letter from Football League confirming share is with CCFC Ltd. "The FA also confirmed the FA share is with CCFC Ltd. That company is in administration, with administrator appointed by Joy Sepalla. "They (arvo/SISU) as debenture holder with a qualifying floating charge are able to appoint an administrator."
Source: Coventry MAD