Sky Blues Hit By Transfer Embargo
Last updated : 23 October 2007 By Covsupport
Coventry City have confirmed that the club is currently under a Football League transfer embargo for not making installments on monies owed to cash strapped Southampton for Leon Best.
City have issued the following statement:
"Following newspaper reports this morning, Coventry City can confirm that it is currently under a transfer embargo, imposed by the Football League. The current financial situation at Coventry City and the withdrawal of interest from Manhattan Sports Capital Partners Ltd have been well documented, but the Club would like to stress that takeover talks with other groups have progressed well over the past seven days and a solution is in sight.
This is by no means an ideal situation for Coventry City, Iain Dowie or the Sky Blues' loyal fans. However, the Club would like to stress that the Board are working towards finding the best outcome possible to take Coventry City forward. This will hopefully be at the earliest opportunity."
Iain Dowie had hoped to sign Man City keeper Kasper Schmeichel on loan but that has been thwarted.
