DOUBTS INCREASE OVER SKY BLUES’ FUTURE

COVENTRY admit their stadium impasse raises “significant doubt” over their future, but they remain confident of securing a home for next season.

The Sky Blues’ rent deal at the Ricoh Arena, owned by Premiership rugby club Wasps, expires in the summer and they recently revealed they are at risk of expulsion from the Football League if no new agreement is reached.

The EFL on Wednesday gave Coventry until April 2 to finalise plans to play at the Ricoh Arena next season, otherwise EFL clubs will be called to an Extraordinary General Meeting on April 25.

It comes after the club’s accounts for the year to May 2018 acknowledged a “material uncertainty” which casts doubt on their ability to continue as “a going concern”.

The accounts state that group shareholders have given confirmation that they will not demand repayment of loans “for the foreseeable future” and will continue to provide funding, but that there is “no contractual certainty” over either issue.

The statement continues: “Additionally, the company has not yet secured a venue at which to host the 2019/20 season football matches.

“Management remain confident that a solution to this situation will be found and are exploring a number of options.

“Nevertheless, there remains uncertainty regarding the outcome of these negotiations.

“The directors have no reason to believe group shareholders will not provide the required support, nor that a suitable venue at which to host the 2019/20 season football matches will not be found.

“However these conditions indicate the existence of a material uncertainty which may cast significant doubt on the company’s ability to continue as a going concern.”

City chairman Tim Fisher said: “Our focus remains on agreeing a deal for next season at the Ricoh Arena.

“While the current impasse remains, with Wasps choosing not to enter negotiations, the management has a responsibility to explore other options that could ensure the club’s survival.”