Coventry City face collapse

Coventry City, managed by Iain Dowie, face collapse after managing director Paul Fletcher resigned. All five potential investors have withdrawn their interest in the club. One of the most serious groups of investors appears to have been in the city in the past week, but felt unable to proceed with the deal.

Coventry have around £28m in debts and have no tangible assets as they are tenants at the Ricoh Arena which was built as part of efforts to regenerate North Coventry. It seems likely that the club will have to go into administration and it is possible that a buyer may then come forward.

Coventry City Council will not want to see the club disappear, given that it is an important flagship for a city that has faced many challenges. Given its emphasis on a West Midlands dimension to its current strategy, it is conceivable that Warwick University, located in Coventry, could be one of the parties that become involved in finding a way forward.