Coventry City FC sold to the Otium Entertainment Group

Coventry City FC (15^th in League 1, English 3^rd division, in 2012/13) have confirmed that the club had been sold to Otium Entertainment Group on the 27/06/2013.

Following a High Court hearing, Coventry entered administration and were deducted 10 points, on the 28/03/2013. Since March, four bids had been received for the takeover of the club. The bid from Otium was "substantially more than any of the other three bids received", according to Paul Appleton, the club's administrator.

Otium, the parent company of Coventry City Holdings Ltd (the part of the club that is not currently in administration), created for the purpose of the club's takeover, is owned by three ex-directors of Coventry City, Ken Dulieu, Onye Igwe and Leonard Brody.

Although the sale has been finalised, the club will remain in administration until a Creditors Voluntary Agreement is issued and agreed with all parties.