Date: 2nd March 2012 at 10:39am
Written by:

Coventry City say they are ‘negotiating funding’ with owners SISU after being placed under a transfer embargo for failing to file their accounts by the 29th February deadline.

‘As part of the accounts submission process we have to be able to show committed funding out for the next financial year,’ chief executive Tim Fisher told the club website.

‘We could not do this as we are still in the process of agreeing and negotiating budgets with the owner.’

Fisher claims there is ‘nothing untoward’ about the situation and that he hopes to have it resolved very soon.

Birmingham City have also been placed under a transfer embargo for a similar reason.

Meanwhile a report in Friday’s Sun suggests that Portsmouth’s administrator could have as little as two weeks remaining in which to save the club.

Should the worst happen the newspaper claims that all Pompey’s results from this season will be null and void and that only two clubs will be relegated from the Championship.