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£8m investment helps City fight off administration

Coventry City Football Club owners SISU have invested a further £8m into the npower Championship club to prevent it entering administration but further funds will be needed.  

SISU, who took over the Sky Blues in a deal with former chairman Ray Ranson, have lost around £25m since 2007.   Newly appointed chairman Ken Dulieu has stressed that the club now needs further investment before the end of the current season.

"Will we have enough money to get to the end of the season? The answer is I'm not sure," Dilau said.

"We need to get greater funding. This is not sustainable, administration was seriously close."

The news comes after it was confirmed that Ranson had left the club completely after it was initially stated he would become a football consultant at City with the club also announcing Paul Clouting as its new chief executive. 

Dilau is hopeful the club can turn the current financial situation around.

"We've probably got the best stadium in the Championship and there is a future here, and this is a short-term problem.  Investors aren't queuing up to invest in Coventry - SISU are the only investors at this moment in time," Dilau said.

 

Scott Hobro 

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