Arena Coventry Limited are being used to reject the Company Voluntary Agreement at the creditors meeting which is taking place this morning.
ACL stand to lost £590 but will lose in the long run, not only any chance of hosting Coventry City matches, but the investment, which is understood to be in the pipeline, something with such backing could transform the Arena into being the major player that many in the City want it to be.
Peter Knatchbull-Hugessen - Higgs charity clerk and ACL director - has urged ACL not to sign the CVA but Coventry City Council chief executive Martin Reeves and council finance director Chris West, could vote in favour of accepting the CVA.
The acceptance of the CVA would condemn Coventry City Football Club to a certain death, with the club possibly out of existence in the next three years as SISU and Tim Fisher have already shown that they are now more interested in the Northampton market for supporters and businesses and the Sixfields site which is under-going redevelopment, rather than a City that has seen through them and no longer wants them as Saturday's march proved.
Source: Coventry MAD