Football League will not block Otium Entertainment Group Limited buyout of Coventry City Football Club Limited.

The Football League have confirmed that they have acknowledge the decision by administrator Paul Appleton to name Otium Entertainment Group Limited as the preferencial buyer for Coventry City Football Club Limited, and that they wouldn’t block the move.

Since the announcement on Friday that of the four final bidders for the company which was placed into administration in March, over 5,000 fans have signed a petition urging the FA and The Football League to block the move, as Otium are related to current owner’s of Coventry City Football Club (Holdings); Sisu Capital.

A statement released by the Football League on Tuesday morning read: “At its meeting yesterday, the board of The Football League noted the decision of the administrator to accept a bid from Otium Holdings for the assets of Coventry City Football Club Limited (in administration).

“The League will now work with the administrator and the proposed purchaser with regards to the fulfilment of the requirements of The League’s insolvency policy.”

There is no current timescale for when the Football League will ratify the sale to Otium – or when Coventry City Football Club Limited will be removed from administration.