Friday 22 March 2013 17:26, UK
Coventry are ready to finish the season away from the Ricoh Arena after effectively writing off their debt to the stadium's owners.
The full statement from Coventry City Football Club (Holdings) Ltd: "It is important to stress that the football club itself is not under threat. "This is merely a property subsidiary which owns no material assets and has no employees, on or off the pitch. "The Club can confirm that all staff wages, PAYE and all other creditor commitments will continue to be met as before by Coventry City Football Club Holdings. "Unlike other instances of clubs being taken either wholly or partially into administration, there are no HMRC or VAT implications and the Football Club will continue to trade as normal without interruption. "Our main objective now is to remain competitive on the pitch and give Steven Pressley and the playing staff our full backing and commitment."
