Coventry City Council has won a Court of Appeal case over a loan it made to the operators of the city’s Ricoh Arena.
The Court of Appeal has dismissed an application for judicial review made by Coventry City FC owner Sisu, which claimed the loan to the stadium’s then-owner was unlawful state aid.
Sisu claimed Coventry City Council undervalued the stadium by £27m when it was sold to Premiership rugby club Wasps in 2014. But the Court of Appeal rejected this argument, saying the valuation was valid.
