Coventry City Chairman Tim Fisher has said that a £30m loan to Sky Blues Sports & Leisure does not affect Coventry City Football Club.
Speaking to the Coventry Telegraph's Simon Gilbert, Mr Fisher said: "This amount is not a debt of the football club, it is only owed by SBSL. It is the original investment by the Sisu private equity funds that was paid into SBSL.
“There is no interest or specific end date on these loans. As it was previously lent on by SBSL to the football club, it formed part of the old loans owed by the football club to SBSL, which have all now been converted into preferred equity.
“There is no obligation or payment requirement of the football club in relation to this SBSL loan. SBSL is simply not in a position legally to enforce Otium to repay this debt and SBSL can only repay the debt once it has received a return on its investment in Otium.”
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