Coventry City, are according to The Guardian, are to face being declared insolvent by owners SISU.
SISU are to file for insolvent liquidation next week but it is not known if it will be the Coventry City Football Club company which will have all the debts placed into it and placed in liquidation or it will be the main Coventry City Football Club (Holdings Ltd) which will be liquidated and mean the end of the club.
City's CEO Tim Fisher told the Guardian:"ACL have been robust in their external statements that they are not in negotiations with us anymore and that negotiations have stopped. "We are at a tipping point and insolvent liquidation cannot be reasonably avoided.
"They need to re-enter negotiations pronto or we file. We'll have no option because there would not be reasonable probability of avoiding insolvency liquidation. We entered the twilight zone on the 22 February [when ACL said negotiations were off] and the twilight zone will become the dead of night very soon unless negotiations are re-entered. We have to show our lawyers that negotiations are ongoing.
"We just want to be like a normal football club. A normal football club keeps all the revenues it generates on matchday. That is catering, beverages and parking revenue," Fisher added. "When somebody puts a gun in your mouth, it is no longer a negotiation, it's an execution. You either accept the deal or get out of town. The council have gone on record and said 'get out of town'. We may have to take that invitation."
Full story: http://www.guardian.co.uk/football/2013/mar/11/coventry-city-administration-ricoh-arena