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Sky Blues Run Up £30m Debt

Coventry City made a loss of £6.5 million last year, and now has debts of more than £30 million.

The club’s annual accounts, which run until the end of May, show that the position has reversed from last year when a £1 million profit was made.

Wages have been the biggest pressure, with the bill rising to £14 million a year – four times what it was four years ago.

The figures do not include the £12 million sale of Robbie Keane to Inter Milan, nor the purchase of Craig Bellamy and David Thompson.

Club chairman Bryan Richardson said the setback will not have an impact on the plans for the new stadium.

He stressed that the club has been ring-fenced from the Foleshill development so it cannot be affected by the stadium. A separate company has been set up to run the affairs of the new stadium.
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'Coventry City - the Elite Era' by Jim Brown

CWN / Sport / Football / Coventry City FC / 28 Nov 00
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