Coventry City are one of 28 foreign owned clubs in the Premier and Football League.
The Sky Blues, owned by Avro Trust who are based in the Cayman Islands which is also where the companies owning Manchester United, Birmingham City and Cheltenham Town are based.
The Caymen Islands, according to an article in the Guardian by David Conn are second only behind Malaysia and Thailand in distance, where the owners own QPR and Leicester City.
The Tax Justice Network is according to the article, arguing 'the ownership of football club shares via offshore companies means there is “huge potential for tax avoidance” when the clubs are sold.'
“The ownership of billions of pounds worth of assets through offshore shell companies means there is a huge potential for tax avoidance,” said George Turner, author of the Tax Justice Network’s report. “This should be of great concern to fans around the country, who invest so much time, commitment, emotion and money into their clubs.
“Football is not just another business and tax havens have no place in our national game, whatever the reason an owner may have for using them.”
Full story - http://www.theguardian.com/football/2015/apr/14/english-football-clubs-owned-abroad-tax-avoidance?CMP=share_btn_tw