Tim Fisher, the chief executive at Coventry City, has said the club does have plans in place that will raise revenues for the club at The Ricoh Arena.
The club has failed to pay rent for the Ricoh over the last few months while it is in dispute with the city council and the Higgs charity over the amount of rent the club is expected to pay. The club wants a reduced rent to help it cut costs.
The council admitted publicly yesterday that they agreed in principle to reducing the rent, but an agreement is not imminent with the city council leader John Mutton maintaining that the owners of Coventry City, Sisu, are a "long way off" from proving they have viable plans for the future of the club.
“This option also sees the club invest in the Academy with the application for Category 2 status, which, we are delighted to say, was successfully achieved last week.
“The business plan has been completed and we are looking forward to sitting down with the council in the very near future to present the finer details.
“In parallel, the business re-structuring is well under way at present including executing a competitive football budget which has seen some players leave but also quality players come to the club.
‘‘However, we are in no doubt that more players are needed. We hope to be meeting the council shortly to give an update on all our progress.”
More on this: http://www.coventrytelegraph.net/coventry-city-fc/coventry-city-fc-news/2012/07/10/92746-31359533/