Coventry City have been placed under a transfer embargo.
City’s MD until the end of the season Tim Fisher, said that yes City had not filed their annual accounts and blamed the fact that the club were unable to show committed funding for next season.
Speaking to the CT, Mr Fisher said: “Our accounts were due on February 29.
"As part of the accounts submission process then we have to be able to show committed funding out for the next financial year and, at this stage, we could not do this as we, the board, are still in the process of agreeing and negotiating budgets with the owner.
“There is nothing untoward about this and it is perfectly normal to be negotiating funding with the owner.
"We would hope to secure funding commitments in the very next few weeks.
“The owner has previously funded the club for a period of more than four years and, is currently reviewing our budget proposal for the coming year.
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