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Coventry banned from the transfer market
England - 25 October, 2007
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The Football League has placed a transfer ban on English Coventry after the club defaulted on an installment payment scheduled to be made to Southampton.
The club did not promptly pay a portion of its GBP 650,000 owed for Leon Best.
The club has been in dire financial straits, a matter compounded when takeover talks with a U.S.-based group fell through in the past couple of weeks.
"Coventry can confirm it is currently under a transfer embargo, imposed by the Football League," read a statement on the club's official website. "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."
The club did not promptly pay a portion of its GBP 650,000 owed for Leon Best.
The club has been in dire financial straits, a matter compounded when takeover talks with a U.S.-based group fell through in the past couple of weeks.
"Coventry can confirm it is currently under a transfer embargo, imposed by the Football League," read a statement on the club's official website. "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."
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