There has been a lot of speculation that Coventry City will be docked 10 points from the table prior to the start of the next season. The club recently relegated from the Championship and finished one place above the bottom of the table. Just when it was thought that Coventry City will be making a number of high-profile signings in order to look towards returning to the Championship in the first instance, there has been rumours of a 10 point deduction for the club if they fail to submit their accounts before the end of this month.
However, the club have moved in swiftly to say that such rumours are extremely wide of the mark and that the club are extremely confident of submitting their accounts prior to the end of this month. The club is also currently on a transfer embargo, but that has been put on hold until the decision is taken on their future. The club has been struggling with finances for quite a while now, but this season finally proved to be the last season of struggle as they slipped down the relegation table.
The club also denied accusations that a debenture has been taken against the assets of the owner Sisu.
“It’s normal business practice and just means that one Sisu company has call on assets of another Sisu company. If you didn’t do that you’d need your head looking at,” said City CEO Tim Fisher when asked about the possibility of the club doing a debenture. The club finished the Championship season just one place above the bottom and had just 40 points on the board. The fans, though, will be hoping for a much better season next year where they could struggle in the League One if they are docked 10 points.