Coventry City owner will drop legal action against Wasps if 'commercially acceptable' deal agreed

The owner of Coventry City Football Club has said it will drop its legal action against Wasps if a 'commercially acceptable' deal can be reached.

In an open letter published today, SISU also want Coventry City Council to support the development of a new stadium.

CCFC currently don't have anywhere to play home games next season after Wasps - the owners of the Ricoh Arena - refused to extend the club's tenancy whilst there are ongoing legal proceedings against them.

Wasps have previously said they would 'only open negotiations again' if SISU stopped their legal action.

The Sky Blues are now facing expulsion from League One if they don't have anywhere to play their home games next season. The EFL have called an Extraordinary General Meeting of all clubs to discuss this on April 25th.

In the letter, SISU say: "Since the Council's decision to sell the Ricoh to Wasps at what we believe to be a gross and unlawful undervalue, we have been determined either to overturn that decision by legal challenge or to build a new stadium.

"SISU would much rather not have to continue with its legal challenge of the Council's decision. Any agreement to drop the litigation, however, would have to contain terms for; a stadium development supported by the Council in Coventry with enabling development on reasonable terms; and a medium term interim arrangement with Wasps on commercially acceptable terms to stay at the Ricoh Arena until CCFC’s own stadium is complete."

They added: "So far, neither of these things have materialised which means that SISU has no option but to continue with its challenge. In the meantime, SISU continues to do everything it can to find long term solutions for the club, which ultimately will secure the success that the fans crave on the pitch."