A US multimillionaire has agreed a deal to purchase a half share of Coventry City’s stadium with a view to buying the League One club out of an impending administration. Preston Haskell has promised to invest heavily in the playing squad and overhaul the club’s operations to return the side to England’s top tier.
His plans include the return of suspended life president Joe Elliott as chairman and bringing The Sky Blue Trust onto a restructured board by offering the supporters’ body a 20% stake in their club. The £113m Ricoh Arena is joint owned by the city council and the Alan Edward Higgs Charity. Haskell has agreed to buy the latter group’s half-share of Arena Coventry Limited (ACL) provided he can take over its management. “To return this club to the Premier League will take investment in the team and a proper management structure,” Haskell said.
http://www.thesundaytimes.co.uk/sto/sport/football/Football_League/article1235092.ece
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Please for the love of God can this be true.
I've been up all night watching cricket, so I'm gonna assume that I've passed out and this is part of a dream.
Too good to be true?
Not sure about the Joe bit!
Looks like I'll be buying the Sunday Times later then...!http://www.thesundaytimes.co.uk/sto/sport/football/Football_League/article1235092.ece
More to the story is there if you are a Sunday Times subscriber.
Please for the love of God can this be true.
I've been up all night watching cricket, so I'm gonna assume that I've passed out and this is part of a dream.
Too good to be true?
Not sure about the Joe bit!
But didn't Brendan Gilfoyle on Friday say he'd met this Haskell fella and believed he didn't have the money/resources to buy the club and would fail on due diligence?
But didn't Brendan Gilfoyle on Friday say he'd met this Haskell fella and believed he didn't have the money/resources to buy the club and would fail on due diligence?
Only one problem - cannot buy the club from the administrators. He will need to make an offer to SISU to buy the club.
ACL have issued to statement that effectively said their aim is to rid SISU from the club, the courts will not like that as they have a hidden agenda.
Another essential thing is to rid the interference from the Council, they need to be completely removed from ACL.
I could see a scenario where he might agree to buy out the Higgs Charity stake in the Ricoh if he can buy the club too. But if he buys the half share in ACL before controlling the club, wouldn't Sisu just inflate their sale price because they would know he was already committed to doing a deal? Interesting story, but let's not get carried away just yet.
But didn't Brendan Gilfoyle on Friday say he'd met this Haskell fella and believed he didn't have the money/resources to buy the club and would fail on due diligence?
Bit more flesh on the bones here http://sulia.com/channel/soccer/f/12b7cf99-9725-4bf7-b829-6269a5f12445/?source=twitter
Bit more flesh on the bones here http://sulia.com/channel/soccer/f/12b7cf99-9725-4bf7-b829-6269a5f12445/?source=twitter
Stuart linell just said on cwr that the story is being denied by aclhttp://www.thesundaytimes.co.uk/sto/sport/football/Football_League/article1235092.ece
More to the story is there if you are a Sunday Times subscriber.
Please for the love of God can this be true.
Stuart linell just said on cwr that the story is being denied by acl
Stuart linell just said on cwr that the story is being denied by acl
they would do though wouldnt they,this would infuriate sisu,best to play it down and see what happens tuesday and going forward,i agree with another poster that ACL wouldnt of pushed for admin without financial replacement
I have heard the rumours about the sale of the Charity’s shares to Preston Haskell IV. Although we know that he is one of the parties interested in such a purchase, and I have met him at a football match, there is no truth in the rumour. The Charity, as with everyone else looks forward to a time when the ownership of the Club and the stadium is united under owners who can give the Football Club a sustainable future and continue the regeneration of north east Coventry with further development at the Ricoh Arena.
With all due respect to yourself, Why could this not be under Haskell? why is there no truth in this? Does he not have the funds? Is he definitely not interested?
Would be good to put this rumour to bed with an explanation.
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