City keep calm and carry on after woe at Wasps
SKY BLUES HAVE NO UNDUE CONCERNS AT THIS STAGE FOR HOME GAMES AT
COVENTRY City’s landlord owners of the CBS Arena – Wasps Holdings Limited – are expected to enter into administration within the next few days.
The group that owns Wasps, the Gallagher Premiership rugby club, confirmed the news in a statement on Wednesday, following two notices of intention to appoint administrators as the club bids to find the money to pay an unpaid tax bill.
The decision has also been made to pull the men’s rugby team out of tomorrow’s trip to Exeter Chiefs, but
Wasps insist they are pressing ahead in their quest to secure new investment, seeking “bridging finance” to provide time for a solvent solution to be found.
A statement issued on Wednesday concludes that Wasps Holdings Limited “remain confident that new owners will be found that will allow the clubs and businesses within the Group to move forward.”
Meanwhile, Coventry City have issued their own statement on the situation. The Sky Blues have already suffered a disrupted start to their Championship campaign with an early season fallout with the owners of the dual-use stadium following the
Commonwealth Games, which left the pitch dangerous and unplayable and resulted in the football club having to postpone their first three home games until extensive and costly repair work was undertaken.
Mark Robins’ men, as a result, were forced to play all but one of their first seven matches away from home and are currently bottom of the league, having managed to pick up just one home win and three draws on the road amid a difficult start to the new term.
This week’s news, while welcomed by many City fans who have an intense dislike of Wasps, begs many questions, not least whether the rugby club and stadium owner’s financial problems will have an impact on the football club; whether it will affect the club’s tenancy agreement and if City will be protected in
Coventry City Football Club are aware of the statement by Wasps Group, and we remain in contact with Wasps Group. Club statement
terms of being able to continue to play at the stadium no matter what?
The Coventry Telegraph understands that the football club are currently trying to make sense of the implications themselves, and have already sought assurances from Wasps regarding the position in continuing to be able to play at the stadium, albeit it is understood the Sky Blues are yet to get any clarity.
A statement said: “Coventry City Football Club are aware of the statement by Wasps Group, and we remain in contact with Wasps Group regarding the current situation.”
It is understood that City have not had any additional information or instructions from their landlords since
Wednesday’s news broke, with the assumption being that the football club will continue to be allowed to play their games at the stadium.
One thing we do know is that most administrators try to keep businesses running if there is a business to run, which there clearly is with the stadium and its schedule of exhibitions, conferences and concerts, as well as rent from the Sky Blues.
So in theory, nothing should change in the short term, although that could change in the unlikely event that the business was liquidated.
But as it stands, it is understood that the football club do not have any undue concerns of their own at this stage.