Four bid for Coventry

Four bids have been lodged for Coventry City Football Club Limited, the joint-administrator has confirmed.

Last Updated: 13/06/13 at 16:18 Post Comment

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Coventry: Four bids received by administ

Coventry: Four bids received by administ

Four bids have been lodged for Coventry City Football Club Limited, the joint-administrator has confirmed on Thursday afternoon.

Interested parties had until noon on Thursday to submit their best and final offers for purchase of CCFC Ltd's assets, coming after Friday's deadline for indicative offers which was understood to have attracted half a dozen suitors.

Joint-administrator Paul Appleton will now evaluate each confidential bid before making his recommendation on the most suitable as soon as possible.

"Following today's deadline for final and best bids for CCFC Limited, I can confirm I have received four bids," read Appleton's statement.

"I will obviously now take time to consider these bids before contacting the bidders with my final decision on a preferred purchaser.

"There will also be discussions with the Football League as part of this process."

The Sky Blues and Arena Coventry Limited (ACL), who run the Ricoh Arena on behalf of joint owners the Alan Edward Higgs Charity and Coventry City Council, have been involved in a lengthy and bitter rent row which has been ongoing for around 16 months.

Subsequently the npower League One outfit, under hedge fund owners Sisu, in March placed the non-operating subsidiary into administration, although Coventry City Football Club (Holdings) continues to operate.

Holdings, or a related company, are reported to be one of the bidders interested, while ACL - who have handed CCFC Ltd the opportunity to play at the Ricoh Arena rent free next term - have also shown an interest, but it is not known whether final offers have materialised.

American multi-millionaire Preston Haskell IV, a property tycoon, is another suitor believed to be in the running for the financially-stricken club, with former City vice-chairman Gary Hoffman and suspended life president Joe Elliott at the forefront of the consortium.

Speaking to Press Association Sport last month, Holdings chief executive Tim Fisher revealed controversial plans to move into a new stadium having claimed City had been given no choice but to leave the Ricoh, with a proposal to groundshare on an interim basis for three years while it is being built.

Fisher's plans to groundshare, and those regarding a new stadium, cannot be announced until CCFC Ltd comes out of administration - sparking fears over where City could be playing next term with the new season just over seven weeks away.


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