Waggot explains Pressley reasons

Coventry chief executive Steve Waggott felt the club needed to make a change after "parting company" with boss Steven Pressley.

The Scot left the club on Monday after they slipped into the League One relegation zone following a 2-2 draw at 10-man Sheffield United on Saturday. They are fourth from bottom, with Neil MacFarlane and Dave Hockaday in temporary charge, despite Waggott insisting their budget and squad should allow them to challenge for the play-offs. And, while praising Pressley, Waggott has written an open letter to fans to outline the reasons surrounding his exit. "I know the question will be raised about the 'backing' he has had from the club but our budget (money spent on players' wages both permanent and loan) is up there in the top six for this division," he wrote on the club's official site. "Whether you pay a fee for a player or not, most agree that the squad we have here is good enough to be challenging for the top six, and successive visiting managers have pointed out the quality of our playing staff. "While you always want to look long-term, you have to take a view of the shorter-term too and with no league win at home since October, a slide into the bottom four in League One, what happened in the FA Cup, we came to the very difficult decision that it was time for a change. "Steven Pressley is an honest, genuine and very hard-working football person and I have got on with him brilliantly over the past two years. "So what now? We will not rush a permanent appointment because it's a decision that requires a fulsome process to try, if possible, to avoid this situation in another two years."