However, after a long wait, which led to the departure of MD Paul Fletcher, Manhattan eventually pulled out of the deal, leaving City - led by a newly appointed chairman in former director Joe Elliott - looking for new investors with the threat of administration looming.
That threat continued to look more realistic until, with less than an hour before the deadline, a deal was struck with SISU, a consortium led by former footballer Ray Ranson.
Ranson became the new City chairman and immediately put forward his plans to make £20 million available to move the Football Club forward.
On Monday February 11, the club relieved manager Dowie, his assistant Tim Flowers and chief scout Bob Dowie of their duties, leaving the Sky Blues looking for their 13th manager since 1987.
Taken from the
Official CCFC website
Reneged on buying the Ricoh shares on takeover............Why wasn't the above money used to buy the stadium? Wouldn't be arguing about rent now would we!:facepalm:
![Mad :mad: :mad:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Mad :mad: :mad:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Mad :mad: :mad:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)