According to the Coventry Telegraph, former Coventry City Chairmen Mike McGinnity and Geoffrey Robinson has been forced to pay out around £300,000 to Arena Coventry Limited.
The duo were guarantors for the club which moved to the Ricoh Arena in 2005 and Arena Coventry Limited called in the debt after Coventry City Football Club stopped paying the rent before moving out of the Ricoh Arena completely.
Originally, the amount owed was £500k but lawyers have got this reduced to £300k divided between Mr McGinnity and the current Coventry MP.
More on this - http://www.coventrytelegraph.net/news/coventry-news/former-coventry-city-chairmen-forced-7193749