Positive talks held over the future of the Ricoh Arena

By Steve Carpenter 11/05 Updated: 11/05 13:06

DISCUSSIONS between the Sky Blues, the council and the Alan Higgs Trust over the ownership of the future of the Ricoh Arena have been described as "encouraging" and "very positve."

Representatives from all four parties, including Sisu boss Joy Seppala and Sky Blues interim chief executive Tim Fisher, met at the Council House on Thursday (May 10).

The club presented detailed plans and budgets for stabilising its immediate future in League One following relegation from the Championship last month.

A proposal has also been outlined of how the club and Ricoh Arena could be more closely aligned with a view to growing and developing both the club and the stadium business.

At the moment the stadium is operated by Arena Coventry Limited and is jointly owned by the City Council and the Alan Higgs Trust.

Council leader John Mutton told the Observer after the club's relegation that the council will not sell its stake to Sisu, labelling them a "shambles" ever since they took over in 2007.

And although no specific details of the meeting have been made public, it seems the council may be happy to make a u-turn following the discussions.

A statement released by the Sky Blues confirmed: "All parties described today's talks as highly transparent, constructive, and encouraging, recognizing that both the football club and stadium are very important assets to the wider community."

All parties agreed to keep the specific details of the meeting strictly confidential, but Mr Mutton wants fans to be kept in the loop.

"I felt that it was a very positive meeting and avenues are now being explored which hopefully will lead to a brighter future for the Football Club and a more profitable future for the Ricoh Arena.

"These discussions are on-going but I have asked the Football Club to keep fans informed."

Further meetings between all parties are set to take place over the course of the next month.