KersleyDigs
Well-Known Member
A consortium of 30, 000 Coventry City fans have signed a pledge to put forward £200 each to buy the £6m lease hold at the ricoh Arena. This offer has been accepted by Coventry City council and the notorious London hedge fund SISU capital appear to have been brilliantly hoodwinked by the fans.
SISU's prime target throughout this whole sorry saga has been to acquire the ricoh arena in a less than proper manner and they are now faced with the prospect of losing it to a interested party, one they never dreamed might snatch the asset from right under their noses.
A statement from the fan based new owners of the ricoh arena says; "we have made our position clear, we want the football team we support in Coventry." They added; "SISU are welcome to bring the club back here to play rent free and put matchday revenues towards the team. If their sole motive was the arena, not the club then i'm afraid that is no longer an option for them. Simply put, they can bring the club back to the fans or the fans will bring a new club to the ricoh."
SISU capital are now left with the prospect of owning a supporter less club hemorrhaging money based in Northampton with no prospect of buying the ricoh. The only real option they have is to sell the golden share as it is now their only remaining asset, albeit with a huge drop in value and without a fanbase or home.
The return of the team to the ricoh would please the fans, but would certainly not pave the way for a return on SISU's "40m" investment in the club. It seems that the hedge fund have little option left but to cut their losses and go.
;-)
SISU's prime target throughout this whole sorry saga has been to acquire the ricoh arena in a less than proper manner and they are now faced with the prospect of losing it to a interested party, one they never dreamed might snatch the asset from right under their noses.
A statement from the fan based new owners of the ricoh arena says; "we have made our position clear, we want the football team we support in Coventry." They added; "SISU are welcome to bring the club back here to play rent free and put matchday revenues towards the team. If their sole motive was the arena, not the club then i'm afraid that is no longer an option for them. Simply put, they can bring the club back to the fans or the fans will bring a new club to the ricoh."
SISU capital are now left with the prospect of owning a supporter less club hemorrhaging money based in Northampton with no prospect of buying the ricoh. The only real option they have is to sell the golden share as it is now their only remaining asset, albeit with a huge drop in value and without a fanbase or home.
The return of the team to the ricoh would please the fans, but would certainly not pave the way for a return on SISU's "40m" investment in the club. It seems that the hedge fund have little option left but to cut their losses and go.
;-)