Troubled Coventry get stadium rent waived for a year
(Reuters) - Financially-troubled Coventry City can stay at their Ricoh Arena home rent-free next season while the English third-tier club try to sort out their debts, the stadium's owners said on Tuesday.
"Arena Coventry Limited (ACL) has agreed to allow the club to play its home games free of any rental fee, therefore removing the need for the supporters to travel outside the city to watch home games," the company said in a statement.
The 1987 FA Cup winners were deducted 10 points by the Football League in March as a result of entering administration because of spiralling debts which, a High Court hearing was told, totalled some 60 million pounds ($93.15 million).
ACL said the rent-free season would allow Coventry to fulfil their league commitments. Expenses such as stewarding and lighting would be charged to the club at cost price, it added.
Tuesday's announcement brought to an end a long-standing dispute involving the club and the stadium owners.
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