Council Look For City Investor

Last updated : 19 October 2007 By Covsupport
Coventry City Council are actively seeking an investor to help out or possible take over Coventry City FC. The Council which cannot legally use public money to save a private business, has stated it's intention to help keep the Sky Blues in business.

Said Ken Taylor to the CT: "Nobody would discount anything, kick anything out of court. "From a City Council point of view, without any doubt we'd look at any possibilities. "As I've said we're all looking for an investor to support the club. "We're supporting ACL looking at any opportunity which would help the football club to survive. "That's as far as I can go."

Arena Coventry Limited taking over the club has already been discussed but with ACL Director Stella Manzie telling the CT: Technically, it might be a possibility, but the complexities and legal and financial issues around it are very, very complex and should not be underestimated at any cost.", it would appear that this might not be possible.

Publically, ACL and its Directors and Main Staff, does not have a good reputation in the City of Coventry, being seen as one of the main reasons the Sky Blues are in the mess they are in, losing £103k a week and debts of £39m.
Since moving to the Arena, City have traded with less incomes streams available to them and have to pay such around £3m to ACL for things such as car parking,stand sponsorships,catering (worth around £500k a season), pouring rights and barrelage, six executive boxes,six perimeter adverts,room sponsorships, religious concerts,stadium advertising and naming right, as well as an annual rent of £1m a year.
The time.cost and effort required in getting to the Arena has not helped attendances with City estimating a loss of possible income of £3m a season.
If the Council are so keen to help. One way could be by rejigging the Green Travel Plan. New grounds which are springing up appear to have a flexible Green Travel plan and supporters at grounds such as Milton Keynes new 22,000 capacity home at Denbigh are able to drive to the ground and park up without any fuss.

A flexible system in Coventry may help in this matter but if the super hospitial fiasco is anything to go by, don't bet on it.