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

O

ne of the conclusions from this list is that Man City should never buy a striker in January - good luck Wilfried Bony....

Savinator
F365's Top Ten Worst January Panic Buys

I

was there, it was embarrassing - the team looked totally unbalanced from the off, the defence was woeful and when Mikel came off injured it got even worse with nobody in front of them. Up front on several occasions we had opportunities and nobody would shoot - it was a complete farse! On the back of Salah's performance I'm glad there is talk of getting shot...

Fly1ngh1gh
Cup defeat shames Mourinho

G

reat to see Tommy Rosicky getting some love. A wonderful player. Such a pity we lost so long to injury. I was so excited when we signed him, this resurgence only makes the absences seem more of a lost opportunity.

cheshire-gooner
16 Conclusions: FA Cup Fourth Round Weekend

Footer 365

Capital One Cup: FA charges Chelsea striker Diego Costa over 'stamp' on Liverpool's Emre Can

The FA have charged Chelsea striker Diego Costa with violent conduct over his clash with Liverpool's Emre Can on Tuesday.

Transfer news: Arsenal complete the signing of Villarreal defender Gabriel Paulista

Arsenal have completed the signing of Villarreal defender Gabriel on a long-term deal, for an undisclosed fee.

Gabriel Paulista has joined Arsenal from Villarreal, with striker Joel Campbell

Gabriel Paulista has joined Arsenal from Villarreal, with striker Joel Campbell going to the Spanish club on loan.

Mail Box

Erm... Balotelli To QPR..?

It's an afternoon Mailbox that offers the reaction to the reaction, with a defence for Diego Costa offered, and Balotelli mooted to move to QPR. Plus a silly idea about the Mails...

'Diego Costa Is A Thug.' Sore Losers..?

There is plenty of fallout from Diego Costa's stamps of authority on Tuesday's League Cup semi-final. Plus Blatter, Rodgers' substitutions and stretching the transfer truth...

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