A Truly Stupendous Day For Coventry City*

In a day that will go down in CCFC history, ACL have revealed - despite the club having an outside chance of making the play-offs - that they are seeking to put the club into admin (Meaning, amongst other things, a points deduction), while Leon Clarke has been ruled out for the rest of the season. Brilliant.

The 21-goal striker needs an operation on his injured right ankle, an injury he has carried for a while (With only Carl Baker seemingly knowing where the net is, it is time for others to assist him by justifying their place in th side).

In other news:

"The Board of Arena Coventry Limited (ACL) announces that it has made an application to the High Court in London to request that it make an administration order against Coventry City Football Club (CCFC). The application relates to CCFC's failure to pay ACL £1.3m in rent that ACL is lawfully owed for CCFC's use of the Ricoh Arena.

The application to the High Court now means that: � At a date in the next few weeks, the High Court will consider CCFC's financial position, and whether it is fit to continue trading. If the High Court rules that this is not the case, CCFC will be placed into administration. � If the High Court determines that CCFC should be placed into administration, the High Court will then appoint an administrator to sell CCFC to a buyer that is able to restore financial stability to the Club. � It will provide for an interim period, pending the outcome of the hearing, during which other parties (including CCFC owner, Sisu) will be unable to wind-up or liquidate CCFC.

Nicholas Carter, Chairman, Arena Coventry Limited, said: "It is highly unfortunate that we have had to take this course of legal action. Had we not taken this action, then the alternative might have been catastrophic for CCFC. "We are owed a considerable amount of money in rent arrears. While it is imperative that ACL takes action to recover these arrears and to stop the arrears growing, it is important for us to find a solution that can provide for the survival of the Sky Blues. Hopefully this action will ultimately put CCFC on a stable financial footing for the future.

"Following recent statements in the media from the CCFC's owners threatening the Club with liquidation, we are keen to stop this from happening. Our action prevents Sisu simply closing CCFC and walking away from the situation.

"We are, of course, well aware that under the current Football League regulations, CCFC will face a points deduction and we will do everything we can to ensure that the case is heard by the High Court before the end of the current season. While this opens up the possibility of a ten point deduction this season, the Board believes this is better than leaving CCFC facing a much larger deduction at the start of next season."

The decision to take this course of legal action follows the recent collapse of talks between ACL and Sisu in relation to rent arrears and future matchday revenue arrangements.

The ACL Board had previously put forward a Heads of Terms Agreement on 29 January 2013. This Agreement was discussed point by point in a series of meetings between the ACL Board and the three Club Directors and agreed verbally by all parties. The Club Directors, however, then proceeded to renege on this agreement.

Nicholas Carter added: "This legal action was unavoidable following CCFC's failure to accept what was a reasonable, fair and generous best and final offer on rent and matchday revenue arrangements. The Club's owners now have one final chance to pay debts lawfully due or face the possibility of being placed into administration by the High Court.

"Make no mistake; the Directors of ACL take very seriously their legal responsibilities to their shareholders to recoup the money that CCFC owes. ACL is a strong business with a track record of profitability which, through the fantastic Ricoh Arena facility, has played a big part in raising the profile of Coventry nationally and internationally.

"But at the same time we care deeply about the city's Football Club. We want to give it the best possible chance of survival in the Football League rather than face the prospect of liquidation."

-ENDS-

* Rather obviously, heavy on the sarcasm....