SKY BLUES RENT ROW COSTS S EX-CHAIR­MEN £150,000 ...EACH

Pair forced to cough up af­ter act­ing as guar­an­tors

Warwickshire Telegraph - - FRONT PAGE -

WO for­mer Sky Blues hair­men have been orced to pay out a to­tal f £300,000 to the Ri­coh rena’s oper­a­tors af­ter he foot­ball club stopped ay­ing its rent. Arena Coven­try Lim­itd called in £150,000 ach from Ge­of­frey Rob­n­son MP and Mike McGin­nity af­ter the two agreed to act as guar­an­tors for the club fol­low­ing the move to the Ri­coh Arena in 2005.

The orig­i­nal agree­ment saw the pair agree to guar­an­tee a com­bined £500,000 if the club failed to ful­fil its fi­nan­cial obli­ga­tions to ACL.

How­ever, it is un­der­stood lawyers for the pair ne­go­ti­ated a re­duced deal and pay­ments of £150,000 each have been made to cover ACL’s ‘‘los of earn­ings’’. Coven­try

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