Coral Windows Stadium

Next Game

Bradford v Coventry

Saturday, 09 August 2014, 15:00

Sky Bet League 1

American bids for Sky Blues

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

Last Updated: 16/05/13 at 16:19

Ricoh Arena: Has some interested  takers

Ricoh Arena: Has some interested takers

The property tycoon made public his strong interest in the financially-stricken club two months ago, with former City vice-chairman Gary Hoffman and suspended life president Joe Elliott at the forefront of the consortium.

The trio have very carefully been watching events unfold at Coventry and have made their move ahead of Thursday's eagerly-anticipated announcement by Paul Appleton, who is the joint-administrator for Coventry City Football Club Limited, into his findings.

The Sky Blues, under hedge fund owners Sisu, in March placed the non-operating subsidiary of the club into administration - insisting it was business as usual as Coventry City Football Club (Holdings), which they claimed holds the crucial 'golden shares' which provide membership to the Football League and FA, operates as normal.

However, the Football League ruled the shares do in fact still lie with CCFC Ltd, hence the midlands club's 10-point deduction which ended any hopes of securing a play-off place in League One. The location of the magic shares remains disputed but Appleton, crucially, is expected to clear that up in Thursday's report.

Elliott told the Coventry Telegraph: "We can confirm that we have now tabled an offer for Coventry City Football Club Limited (in administration) which assumes the Football League's 'golden share' is in that company.

"Everyone knows that the stadium and the football club need to be brought closer together. Therefore, we are also pleased to confirm that an offer has been made to acquire 50 per cent of Arena Coventry Limited (who manage the Ricoh Arena) and we will shortly enter the due diligence phase."

As it currently stands, the future of Coventry's home games remains up in the air.

Chief executive Tim Fisher claimed in a statement earlier this month that the club were looking for a new ground for next season having been "locked out" of the Ricoh Arena.

City remain at loggerheads with ACL, who manage the stadium on behalf of joint owners the Alan Edward Higgs Charity and Coventry City Council, over unpaid rent stretching back over 12 months.

Related News

Most Commented

Readers' Comments

L

ast five Arsenal captains: Gallas, Fabregas, Van Persie, Vermaelen, Arteta. Talk about a poisoned chalice...

juan de gunnaz
The Sluggish Gossip

W

ill any Brazilian parent ever name their child Fred again? I could see it earning similar status as the first name Adolph in Germany (or anywhere, come to think of it).

bleublancrouge
Nothing Will Ever Be The Same For Brazil. Ever.

C

redit to Vlaar for stepping up. Better to be the man who missed than be the coward who wouldn't step up for his country

avspitfire
Dutch stars refused penalty

Footer 365

Liverpool and England forward Raheem Sterling to learn from first World Cup

Liverpool forward Raheem Sterling has pledged to learn from his first World Cup experience with England.

World Cup: Louis van Gaal says two Netherlands players refused to take first penalty against Argentina

Netherlands boss Louis van Gaal claims none of his players wanted to take the first penalty against Argentina.

World Cup: Argentina coach Alejandro Sabella thinks Germany are favourites for Sunday's final

​Argentina coach Alejandro Sabella thinks a well-rested Germany will have the advantage in Sunday's World Cup final.

Mail Box

Mails: It's Not Entertainment, It's Sport...

When did we start getting the idea that football was an entertainment business? It's about winning and winning alone. We also have some defences of Louis van Gaal...

Do England Need Scholes, Lineker Etc?

They've all got ideas about where things are going wrong, so why don't they step up and help? Plus, we have lots of fall-out from the dullness of Holland v Argentina...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property