Coventry set offer deadline

Coventry administrators have set a deadline of May 31 for offers to take over the ailing club.

Last Updated: 25/05/13 at 13:01 Post Comment

Ricoh Arena: Coventry went into administration in March

Ricoh Arena: Coventry went into administration in March

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

A number of groups have already registered an interest in taking control of the League One club, who went into administration on March.

"A sale process has begun, I have spoken and met with a number of parties who have expressed an interest," said join-administrator Paul Appleton.

"To that end, I have set a deadline of May 31 for indicative offers from those interested parties."

Local media reports state that American multi-millionaire Preston Haskell IV has tabled a bid to buy Coventry as well as half the Ricoh Arena.

Appleton also moved to clarify the situation with regard to ownership rights of the Golden Share, which provides membership to the Football League and Football Association.

The Sky Blues current owners Sisu claimed that Coventry City Football Club (Holdings), who were not in administration, holds the shares, but the Football League ruled that they were held by Coventry City Football Club Ltd.

Appleton added: "Following information I have received from various stakeholders, I now believe the registration of the Golden Share lies with Limited.

"Holdings believe they have a beneficial ownership of the Share given the level of investment they have made and the fact the players contracts are in their name, together with many other important elements.

"This has seemingly been endorsed by the Football League, who have completed all current player registrations in the name of Holdings.

"In my opinion, the importance of the ownership of the Share has been exaggerated in the media and on social networks. Of course, it is a significant element but ownership does not necessarily mean control of the club.

"Just as important is the location of the players contracts, the right to use the name Coventry City and the right to sell season tickets - all of which Holdings assert is theirs.

"Should Holdings maintain their claim to a beneficial ownership of the Share, ultimately only the Court can overturn that."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

I

still can't see the Phil Jones thing that some people go on about. Whenever I watch him play it's a repeat of headless chicken meets a gurning Bambi on ice for 90 minutes.

diabolicaldiaby
F365's Top Ten Defenders Of The Season

P

robably the first list I've come across in a long time where I agree with a large majority of what was written. Can't agree with everything though, Zaba has had an awful season by his standards, I'd put Monreal (a player who I've never rated) up there, gotta give credit where it's due, he's really stepped up his game.

scroteymcbooger
F365's Top Ten Defenders Of The Season

S

ome top analysis here..... UNITED WOULD BE TOP IF IT WEREN'T FOR ALL THEM GAMES THEY LOST

benvo81
United Progress Stifled By Bottom-Half Record

Footer 365

Newcastle captain Fabricio Coloccini says sorry to supporters

Newcastle United captain Fabricio Coloccini has written a letter to fans apologising for recent poor results.

Liverpool striker Daniel Sturridge has hip operation in United States

Liverpool's England striker Daniel Sturridge has had an operation on his injured hip.

Nathaniel Clyne 'happy at Southampton' and waiting on deal

Nathaniel Clyne says he is happy to stay at Southampton, despite reports linking him with a move away this summer.

Mail Box

How Is Coutinho Rated Above Cazorla?

We have a mailbox packed full of views on Santi Cazorla, what Arsenal and United need this summer, the idiocy of St Totteringham's Day and rather a lot more...

Arsenal Need Three. These Three...

One mailboxer has the realistic answers to Arsenal's summer transfer needs. We also have plenty more on Newcastle fans, handballs, Chelsea selling and Johnny...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company