Coventry City is placed under a transfer embargo by the EFL after failing to file annual accounts … but the champions side insists it will have NO effect on ‘planned activity’ in the summer and is calling the action ‘ridiculous’
- Coventry confirmed they have been placed under a transfer embargo by the EFL
- The club urged fans that it is ‘purely an imposed administrative embargo’
- Club says it has chosen to take up the option to delay submitting corporate accounts
Coventry has subsequently branded the actions of the EFL ‘ridiculous’ Sportsmail revealed that 10 championship clubs were under transfer embargoes at the same time.
The list raised concerns about “ financial Armageddon, ” with overspending and Covid-19 wreaking havoc.
But Coventry says they got hit with the suspension because they were late in filing their bills.
Coventry City has been placed under a transfer embargo by the English Football League
The club decided to take up the government’s offer to extend the deadline for companies to report their financial data by three months and were shocked when the EFL failed to amend their rules to accommodate the move.
“The government has allowed companies to extend the bill submission deadline and we have chosen to do so from the end of February to the end of May,” said Dave Boddy, Coventry CEO.
“It’s ridiculous that the EFL regulations on this do not replicate this approach.”
Coventry CEO Dave Boddy (left) described the imposed embargo as ‘ridiculous’
Luton was also on the list, but CEO Gary Sweet says they are in a similar position to Coventry and will make a profit when they file bills.
“Money is very tight and it has been difficult,” said Sweet.
“But we have made an accounting profit.”