Under new American owners, funds dried up and the club drifted towards relegation. Reynolds reign came to an abrupt end in 2004 when he was sent to prison for tax evasion, leaving the club tied to a huge stadium they could not afford. Sisu, the clubs hated hedge fund owners, steered the club into administration amid a petty dispute with the stadium operators that left Coventry locked out. As the club drifted down the leagues amid financial struggles, the capacity shrank to 15,000. In the meantime, the club clung to life at Boothferry Park, dodging relegation from the league and sliding into receivership.
Reynolds built another football team after he was sent to prison for tax evasion.
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Reynolds built another football team after he was sent to prison for tax evasion .
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