Appleton explains Coventry role

Paul Appleton has defended his position as joint-administrator of Coventry City and says he'll meet with interested buyers soon.

Last Updated: 21/05/13 at 16:52

Ricoh Arena: Paul Appleton finding buyers

Ricoh Arena: Paul Appleton finding buyers

Appleton came under fire from disgruntled supporters last week when, after two months of investigation, he revealed he was still to determine where the much spoken of 'Golden Share' - which provides membership to the Football League and Football Association - lay.

The Sky Blues, under hedge fund owners Sisu, in March placed the non-operating subsidiary of the club into administration, although Coventry City Football Club (Holdings) continues to operate.

American multi-millionaire Preston Haskell IV has tabled a bid to buy CCFC Ltd as well as half the Ricoh Arena.

And Appleton has revealed the location of the mystery Golden Share will now only be sought after a new buyer has been selected.

Appleton said: "I am an officer of the court and my duties are clearly defined. As such, these entail providing the best outcome for the company while achieving one of the three purposes of an administration.

"Contrary to recent statements and press reports, the process is complicated and I am still waiting on various answers from parties involved which will assist in my investigation. I have made this quite clear to ACL (Arena Coventry Limited, management company of the Ricoh Arena) who, I am pleased to say, are assisting me in my enquiries.

"I have also made that position clear to the Sky Blues Trust and have pointed out many of these enquiries must remain confidential.

"While my investigations continue, the sale process is ongoing and I am meeting various interested parties over the coming days. When the process is finalised and a purchaser identified, the issue of the Golden Share will be dealt with.

"As I have stressed to various important stakeholders, it is within the gift of the Football League to agree any transfer of that Share. I have had positive discussions with the League and they have been kept completely abreast of the situation."

Related News

Most Commented

Readers' Comments

W

hy is the dinosaur trying to hold on to this.... Just leave... No one wants you in this position you corrupt loser. Let someone else take over....

arsenal121
Defiant Sepp blames minority

N

ow is the time for Allardyce to finally get a chance at a big club please. He is likely to have a number of great offers for his services this summer, but who will he choose? Will it be Liverpool, Real Madrid, Dortmund or Man City?

medina_sod
Allardyce leaves West Ham

I

thought exactly this when the Match of the Day pundits were peddling this line. Is it really not okay for fans of a club to have some ambition these days then?

damoceltic
Bored Of Big Sam? It's Your Right...

Footer 365

D-day for FIFA as Sepp Blatter opens 65th congress

Sepp Blatter has formally opened FIFA's congress on a day his critics hope could signal a new start for football.

FA chairman Greg Dyke calls for possible Russia 2018 boycott

FA chairman Greg Dyke wants UEFA nations to consider pulling out of the World Cup finals in Russia in three years' time.

Sepp Blatter vs Prince Ali: FIFA election explained

Will Sepp Blatter see off Prince Ali Bin Al Hussein? We explain how Friday's presidential vote works...

Mail Box

What Would You Do If You Were Blatter?

Step into Sepp's shoes, is the invitation from one mailboxer. Also: United already have their new number one, Rodgers deserves time, and the best Budget XI so far...

What Is It That FIFA Actually Do?

That's the question raised timidly by someone sat at the back of the room, whilst others remind that UEFA aren't perfect either. Plus a few more gone on to better XIs...

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