Steven Pressley has said that he is aware of the challenges facing him as the new manager of Coventry City.

The League One side have recently had their bank accounts frozen and are under a transfer embargo due to financial issues.

The Scot told reporters: "I'll be perfectly honest, I wouldn't be sitting here today I can assure you of that if I wasn't comfortable with the current situation.

"Of course there are challenges ahead and we're very much aware of those but I'm very comfortable with the situation.

"I believe we can get through this period and then get the opportunity to truly build this football club."

Pressley, who had been the manager of Falkirk, has signed a three-and-a-half-year deal with the Ricoh Arena side.