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Sisu defend their actions at Sky Blues

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Controversial Coventry City owners Sisu have committed to the club for the next three years, a fans' forum was told last night.  Sisu have now pumped £42 million in to the club – £35 million of which they have written off as equity.   Former director and front man Onye Igwe has left the board and Sisu altogether.


The club now had a playing budget of £4.2 million for next year which Sisu represenatatives claimed was one of the highest in League One.   Operating losses have been cut from £500,000 to £250,000 a month.   However, the club is still involved in an ongoing dispute about the rent for the Ricoh stadium.


Discussing the club’s perilous finances, the Sisu representative said: 'If Sisu hadn’t stepped in when they did there would be no football club.  With 20 minutes to go Sisu paid off investors and unpaid tax of around £9 million.'


Sisu apologised for delivering League 1 football when their ambition had been to put the club into the Premiership.



Read More http://www.coventrytelegraph.net/news/coventry-news/2012/09/14/coventry-city-reveal-sisu-s-front-man-has-left-club-during-heated-meeting-with-supporters-92746-31833261/#ixzz26QruZpMS