Coventry have been handed the opportunity to play at the Ricoh Arena rent free next season by management company Arena Coventry Limited.
The Sky Blues and ACL, who run the stadium on behalf of joint owners the Alan Edward Higgs Charity and Coventry City Council, have been involved in a lengthy and bitter rent row which has been ongoing for around 16 months.
Subsequently the npower League One outfit, under hedge fund owners Sisu, in March placed a non-operating subsidiary, Coventry City Football Club Ltd (CCFC Ltd), into administration, although Coventry City Football Club (Holdings) continues to operate.
Speaking to Press Association Sport last month, Holdings chief executive Tim Fisher revealed controversial plans to move into a new stadium having claimed City had been given no choice but to leave the Ricoh Arena, with a proposal to groundshare on an interim basis for three years while it is being built.
But ACL have this morning offered a proposed solution and paved the way for possible negotiations to reopen having offered CCFC Ltd the chance to play at the Ricoh Arena next term rent free - with fees such as stewarding and policing etc passed on at face value.
An ACL statement read: "To enable the football club to fulfil its commitments under Football League regulations, and to provide stability whilst Coventry City Football Club Limited, which owns the League Share, remains in administration, ACL has agreed to allow the club to play its homes games free of any rental fee, therefore removing any need for the supporters to travel outside the city to watch home games.
"All charges incurred on matchday as a consequence of staging a football match will be passed through at cost, for example, stewarding, policing, utilities, frost protection, matchday repairs to stadium, health safety and compliance management and certification, service charges for maintenance contracts eg flood lights, generators etc.
"The directors of ACL hope the supporters of Coventry City Football Club, the joint administrators and the Football League will view this as a positive and productive move and should assist in dispelling the uncertainty and upset of the past weeks."
Fisher's plans to groundshare, and those regarding a new stadium, cannot be announced until CCFC Ltd comes out of administration - sparking fears over where City could be playing next term with the new season just eight weeks away.
Joint-administrator Paul Appleton has confirmed a deadline date of this Thursday for all interested parties to submit their final offers for purchase of the club's assets.
- More about:
- Coventry City
- Debt Market (bond Market)
- English Football League 1
- Hedge Funds