Coventry start the new Football League season in League One with a 10-point deduction after the League transferred their share to the Otium Entertainment Group.
Coventry City FC Limited yesterday failed to agree a Company Voluntary Agreement (CVA) with the owners of the Ricoh Arena, their former ground, and said in the aftermath that liquidation and a points deduction was expected.
In a statement last night, the club said CCFC Limited would enter liquidation and that they had accepted the League's point deduction.
The Sky Blues are at Crawley today but when they start their home campaign they will play at Northampton's Sixfields ground – a move that was also ratified last night.
That comes as a result of the stand-off between the old CCFC Limited and Arena Coventry Limited (ACL), the owners of the Ricoh, regarding rent.
ACL yesterday proposed changes to the CVA which was given to them by administrator Paul Appleton on Tuesday – alterations which included an offer for the club to return to the Ricoh on reduced rent with a 10-year lease.
Appleton rejected that, though, and ACL voted against the club coming out of administration.
ACL did encourage the administrators to return to them with another proposed CVA saying they had a twin aim to: "First, to keep Coventry City Football Club playing in Coventry; and second, to ensure that Coventry City Football Club is financially viable for the next few years and beyond."
But that now appears to be a moot point considering the developments of last night and the club's chief executive, Tim Fisher, hopes progress can now start to be made.
"There has been a great deal of uncertainty surrounding the club's future but this decision by the Football League means we now have certainty and the club's future is secured," he said.
"We can now get on and put our future plans into action which means building and owning our own stadium in the Coventry area.
"It has been a very difficult time but Coventry City Football Club moves forward."