Co-op Bank Facing A Possible Northern Rock Job

There has been speculation over the last two days that staff including the players at the club may not be paid and meetings took place last night to try and stave off the threat with Acting Chairman Joe Elliott saying 'the club were at crisis point.

With Geoffrey Robinson's Windsor Group having pulled out of the bid after revelations about the activities of one on their consortium, it is believed that the major shareholder had agreed to sell to Mr Ranson.

However, just when things looked to be on the move, the Co-op Bank have decided to block the sale.

For the bank, who is owed £18m by the club, it is a risky decision knowing that should they plunge City into administration, they face being in a Northern Rock situation with people closing their accounts and transfering all monies iout of the Manchester based bank which does have offices in Coventry.

Talks in Manchester with the Board,Bank,Kroll and Mr Ranson and we hope that a deal can be sorted without the club going into administration.