Coventry confirm chairman's resignation
Mon 28th Mar 2011 | Clubs Ownership
Coventry City Football Club have confirmed the resignation of chairman Ray Ranson this afternoon.
The announcement had been expected after rumours circulating last week suggested Ranson was on the verge of quitting the club.
The club have been struggling recently and it was revealed last week that they had been handed a transfer embargo by the Football League, which the reasons for are still unclear.
The club are now in the process of restructuring its board room. A statement on the club’s official website last Friday read; “a press conference will be held at the Ricoh Arena next Wednesday when the local media will have an opportunity to address the Board about the new structure and its plans to take the club forwards.
“The club's owners, SISU, have committed to providing further funding in order to enable the club to meet current liabilities and move towards a more secure financial standing. SISU has invested nearly £30 million in Coventry City Football Club in just over three years, saving the club from administration at the eleventh hour in December 2007.
“A new full time, Chief Executive Officer is being recruited with the remit to develop new income streams and maximize existing revenue opportunities.
“SISU is working closely with its new Directors to identify new investors that will help take the club forward to its ultimate goals of Premiership status and ownership of the Ricoh Arena.”
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