ACL To Get Council Bail Out

Arena Coventry Limited are to be bailed out to the tune of £1.4m. Reports indicate that the money is because the arena was not fully ready when it opened hours before the first game with QPR and that it had affected ACL's business plan.

Arena Coventry Limited will get five months rent free and have been offered a £1m overdraft,subject to a City Council meeting today.

City Council Finance Director Angela Ridgwell told the CET: The Arena was open just nineteen days later than originally expected but building and finishing work has continued over the past months and has affected some of ACL's trading plans.

"This temporary cash flow assistance will give Arena Coventry Limited the flexibility to persue its business plan. Current prospects for business are extremely promising. "We are also taking legal advice on opportunitied for getting compensation from Laing O'Rourke for the delays in building work."