City Looking For Massive Rent Cut

Last updated : 30 August 2012 By Covsupport News Service

Coventry City are looking for a massive cut in the rent they pay or are supposed to pay Arena Coventry Limited for the club's use of the Ricoh Arena.

City, who have rejected a cut to £650k a year from the £1.2m a year which Paul Fletcher agreed during his time at the club, are now wanting their rent down to around £200k a year or less, 

Speaking to the CT's Les Reid, Coventry City CEO Tim Fisher said: “I think we have to come up with a reasonable number – a number which will be north of £100,000 or £150,000 without a shadow of a doubt, but allows us to balance our finances in a better fashion, but also allows ACL to move their business forward without leaving a gaping hole.”

City have until September 13th to agree a deal.

Read More