Phoenix Finances Part 2: Coventry City’s £15m Premier League gamble
04.08.26, 07:49 Updated 04.08.26, 07:49 4 Minute Read
Rich Chamberlain
As the Premier League came into existence, Coventry City had just posted losses of £1.4m. Four years later, they reported a loss of £15.36m. Rather than solving all of Coventry City’s financial headaches, Premier League football had magnified them.
In part one of our examination of Coventry City’s financial woes, we saw that the club gambled on being founder members of the Premier League. They felt it was imperative to the long-term future of the club and therefore sanctioned spending 93 percent of turnover on wages in order to ensure that they were one of the 22 Premier League teams in 1992/93.
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Rich Chamberlain Rich is a lifelong Coventry supporter and the author of several books about the club, including When The Sky Was Blue, Benno: My Life in Football and Sky Blue Fall.