Statement from the Board of Arena Coventry LimitedThe Board of Arena Coventry Limited (ACL) is pleased with the progress that has been made through the legal process since last Friday’s first hearing at the High Court in London.We are grateful to the Football League for coming back so quickly to our legal team toconfirm that the Football League share resides with CCFC Ltd, not CCFC Holdings,as had been suggested previously by the CCFC and the appointed administrator. Weare grateful also to the Football Association for its prompt response confirming that theFootball Association share resides with CCFC Ltd, not with CCFC Holdings. Both of theseorganisations have acted quickly to bring clarity to this process and most importantly, clarifythe situation for Sky Blues fans.It has been our understanding from the outset of this legal process that the respectiveshares reside with CCFC Ltd.This situation now means that the Club, on any objective assessment, is already inadministration. On this basis we have withdrawn our application to the High Court for anadministration Order to be granted.While this is obviously not an ideal situation, it does provide some stability to the Club aftera period of intense uncertainty. This has been our declared aim all along and our objectivesremain the same: to protect the interests of creditors and ensure the long-term survival ofCCFC at the Ricoh Arena. The most important outcome of today is that the liquidation ofCCFC has been avoided.While their recent media statements have been confusing to both the Board and supporters,we will now work as closely as possible with the Administrator to ensure this process iscompleted in a responsible and transparent manner.We would once again like to reiterate our support for Sky Blues fans and assure themthat the Ricoh Arena is available to them to play all their remaining home games thisseason. Any suggestions to the contrary are misleading. We look forward to speaking to theAdministrator to resolve this confusion.
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