Rumours say new company to be set up to take over all of City's debt

Rumours abound that Coventry City's owners SISU are setting up a new company.

It is believed that this new company will have all of the club's debts (although whether this includes monies supposedly owed to previous Chairmen, ex employees etc which has been deferred until such time as the club is promoted to the Premier League is unknown), transfered to it and then be placed into administration, supposedly leaving CCFC debt free.

The move is rumoured to be similar to what Ken Bates did at Leeds United.