MEP Nikki Sinclaire has urged Arena Coventry Limited to sign the CVA so that Coventry City Council does not waste any more tax payers money.
The creditors meet again tomorrow with the Administrator and agreement would see ACL getting £590k and Coventry City's 48 year lease with the Ricoh Arena which was signed in 2005, being torn up, whilst no agreement would see CCFC Ltd liquidated and ACL getting 1/2p in the pound.
Speaking to the Coventry Telegraph, she said; “I am fully aware of the complicated, multi-faceted nature of this story. However, in the case of the CVA meeting tomorrow, I must look at this from a purely political perspective.
"In times of cut backs to local public services, can the council really afford to throw away taxpayers' money by blocking the CVA agreement?
"The deal on the table will see ACL, obviously half owned by the council, receive around £590,000. Rebuffing the CVA will mean that the council receives nothing.
“Emotions are running incredibly high and that is understandable.
"Football is underlined by the word 'passion'. The feeling I have had from all the meetings is that everyone deeply cares for the football club and that they all want to see the club stay in the City of Coventry.
"There is nobody without blame in the story. This is the time to put all of this behind us for the good of local tax payers, and more importantly in the case of the football club, the fans.
"My over-riding concern is for Coventry City to play in Coventry on the weekend of August 10th/11th and I am prepared to sit with whoever it takes to make this a reality.
"I was at the Ricoh myself last week and the pitch is in fantastic playing condition. It would be a travesty not to have football played there next season.
"During the off season, transfer deals are muted for weeks then all the action happens at the last minute. There is still plenty of time to agree a deal. Let’s keep Coventry City in Coventry ”.
More on this: http://www.coventrytelegraph.net/news/coventry-news/mep-tells-council-not-throw-5379154
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Source: Coventry MAD
Source: FOOTYMAD
