Coventry City have this afternoon completed the signing of former Reading striker Matheiu Manset on a one-year contract, with the option of a further year in the club’s favour.
Following the news earlier on Wednesday afternoon that the club had exited administration, the Sky Blues have now also had special dispensation by the Football League in order to complete the signing of the French striker.
Coventry City had been under transfer embargo because of March’s administration, and also because of the ongoing late filing of accounts for CCFC (Holdings) Ltd and Otium.
The Coventry Telegraph confirmed the transfer embargo has been lifted – to be replaced with what the Football League calls a “rolling embargo”.
It means the League has set a limit for what Coventry City can spend on players, based on its expected income.
If the club exceeds that limit, the League would refuse to register a new signing.
But it does means the club is free to sign new players, as long as the total salary for players is in line with the League’s imposed limit.
The French striker has been on trial with the club for the past month and attended City’s tour of Holland where he played in the 1-1 draw against Dutch top-flight side Heracles Almelo.
Manset will be available for selection for the Sky Blues’ League One match with Bristol City at Northampton’s Sixfields Stadium on Sunday, August 11th.
Sky Blues boss Steven Pressley said: “Mathieu is a player we have been looking at for a while and we have been delighted with the levels he has shown during pre-season with us.”
“He is a very exciting player and the age of 23 he is a player that I believe is still to fulfill his huge potential. I believe at this club we will give him the opportunity to do so.
“I have been looking to bring in some competition and I will be looking for Mathieu to challenge Leon Clarke and Callum Wilson for a starting spot up front.
“It’s always a real boost to the squad when a new player joins the team.”
Speaking about the club’s ability to add to the squad while operating under the current transfer embargo, development director Steve Waggott added: “I’ve been working with the Football League to move things forward while issues around embargo and administration are resolved.
“We now have an arrangement in place where we can bring a player in under certain circumstances – depending on cost and on players moving out.
“Ultimately, the Football League are not going to allow us to go out and sign who we want, when we want until the embargo is lifted but this does at least give us some room for manoeuvre.”