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Football League Rubber Stamp Otium Deal

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18 Jun 2013 11:06:37

Football League Rubber Stamp Otium Deal

FL To Work With Otium and Administrator

The Football League have basically rubber stamped the bid by Otium Entertainment Group to buy the distressed Coventry City Football Club Ltd,

The league have said in a statement: "At its meeting yesterday, the Board of The Football League noted the decision of the administrator to accept a bid from Otium Holdings for the assets of Coventry City Football Club Limited (in administration).

"The League will now work with the administrator and the proposed purchaser with regards to the fulfilment of the requirements of The League's insolvency policy."

In the laws of the land and in the eyes of the Football League, Tim Fisher, a Director in both CCFC Ltd and Otium Entertainment Group have done nothing wrong and although, it is clear that doing a deal to prevent CCFC Ltd from returning to Administration was not on the mind of Administrator Paul Appleton, there is nothing legally, they could do to stop the bid from going through. 

 

Source: Coventry MAD


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