American property tycoon Preston Haskell IV today upped the ante with a revised bid to buy the Sky Blues.
Today is the deadline set by Coventry City FC Ltd’s administrator Paul Appleton for offers for the company that currently holds the rights to the 'golden share' – the licence to play in the Football League.
Appleton has already revealed that eight parties have expressed an interest, including Haskell and a Chinese consortium fronted by North Warwickshire businessman Michael Byng, although it remains to be seen how many actually follow through with firm bids.
Sisu/CCFC (Holdings), who claim they are the beneficial owner of the golden share, are also expected to bid for CCFC Ltd, the company they put into administration.
Haskell’s bid is being fronted by former Sky Blues vice chairman Gary Hoffman and suspended life president Joe Elliott, who submitted an initial offer ten days ago but have decided to revise that following information that has since come to light.
Hoffman and Elliott have tabled their bid on the basis that they are in advanced commercial discussions and close to an agreement on buying 50 per cent of the stadium.
What the offers for CCFC Ltd will resolve is unclear but anyone bidding will be doing so on the assumption that the golden share – which is now in Preston with the Football League who confiscate it when a club goes into administration and then return it when it comes out – is given to them to run the football club.
Hoffman confirmed a revised bid was being made today and said: “Our objective would be to do a deal on the stadium and buy the football club, the golden share, to enable us to reunite the heart and home of Coventry City because Coventry has not had a home, really, since Highfield Road because it has been a tenant.
“It would be great to reunite the heart and the home and to have Coventry City playing at the Ricoh from day one of the new season.
“That’s what we want to do and that’s what Preston Haskell wants to do, and he’s committed to doing that.”
