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City Say Owners Committed To Funding Club

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10 Oct 2013 13:39:35

City Say Owners Committed To Funding Club

Statement Issued

Coventry City have issued a statement saying that the owners - SISU Capital Ltd are committed to funding the club.

The accounts for the Otium Entertainment Group filed with Companies House gave some doubt as to the financial future of the club saying there is a “fundamental uncertainty which may cast doubt over the company’s ability to continue as a going concern".

However, City, have issued the following statement

“We would just like to clarify a couple of points which have been raised from the article which appeared in the Coventry Telegraph about Otium’s accounts for the period which ended on May 31, 2012.

“As in previous years, the club’s owner continued to fund the club and supplied a letter of support to the auditors, essential for the auditors to sign off the accounts.

“Added to this, it should be remembered that the Football League required an undertaking from the owner to continue to provide financial support in order to able to acquire the golden share.

“As we have stated many times before, the club’s owner has funded the club every year to the tune of tens of millions and is committed to the long-term future of CCFC.”

More on this; http://www.coventrytelegraph.net/news/coventry-news/coventry-city-face-more-questions-6168086

Source: Coventry MAD


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