English side Coventry City FC, with whom Michael Mifsud plays, are facing financial ruin unless they find an investor before the start of the New Year.

A report on BBC Sport Online yesterday said that the club is at crisis point with a proposed deal stalling yesterday.

The Sky Blues are about £38 million in debt and a transfer embargo was imposed on the club last month.

The SISU consortium, led by Ray Ranson, were reported to be close to a deal to buy the club, but the BBC report said the Cooperative Bank blocked the bid. It is owed about £18 million by Coventry City FC.

The club now seems to be heading into administration. That would mean a 10-point deduction, plunging the club in the bottom three in the Championship standings.