Takeover Talks

[briggcov]

Small mentions have been made in the press of the start of takeover talks being in the early stages at Coventry.

My information (Ben the Villa Fan) says the investors are led by a Coventry Pakistarni business man who's made his fortune in textiles.
This is good in two ways firstly his is a Coventry fan bred and born and also he might be loaded, in which case there could be money to fund the club to get the players.

Wait and see

[Beefy]

The big clubs have all sold out B/C, with Arsenal the exception. I think now the millionaires will start investing in clubs picking over the ones the Billionaires didn't want.

[Coventry Bee]

Any one want Brentford

[briggcov]

Coventry in talks with investor

Coventry are £28m in debt
Coventry are in talks with an unnamed investor that could lead to the takeover of the Championship side.
"There are things going on behind the scenes at the moment, but talks are still in the early stages," said club managing director Paul Fletcher.

"We are looking for new investment. When the time is right we will announce what is happening at Coventry City."

City are hoping any takeover will eliminate their £28m debt and provide transfer funds for boss Iain Dowie.

Fletcher added: "Investment is vitally important. You can't trade yourself out of £28m of debt, you have to reform the club and we are doing that both on and off the field with new and different initiatives that are all part and parcel of Operation Premiership."

Fletcher said he did not know whether Dowie's decision to take over the manager's vacancy at Coventry had anything to do with a possible takeover.

"The decision to bring Iain here, along with something else that we hope is going to happen in the next few weeks, are two key components of Operation Premiership," he said.

"Iain was made aware of the situation and the ambition of the club but you would have to ask him whether it influenced his decision to come here."

[briggcov]

The latest gossip apprently from the font of all knowledge SkyBlue (The Coventry Evening Telegragh) is that the group which are looking to buy the club also want to buy the ground 'The Richo Arena' If this is true then we're taking serious money as the Stadium cost £113m to build the club has debts of £28m plus what ever the old board want to get them to sell so it could be a takeover in the region of £150-200 million.

What then for the ticket prices I wonder

[Sparkyfc]

We need this to start moving as otherwise we will be battling relegation and other manager out the window. We need a hot shot to replace the deadwood of Dele, Kyle and Mckensie. Billy Sharp, Freddy Eastwood, I Mcleod all know where the back of the net is.

Lets see something happen

[Dexter]

I remember when Coventry went down, i thought they would be back up the following season.. Goes to show how hard it to get back in the top flight once you have become a victim of the lower leagues.

[Beefy]

It also goes to show what thinking did for you Dexter

[briggcov]

So to update anyone who may be remotely interested...Mr.Richardson the Club president has had to buy back 50% of the Arena from the Higgins trust so that when buying the American will get that portion I think they also intend to by out the Councils 50% aswell. Once these bits are sorted and the £28M that is owed by the club is indentified as being owned by then the Americans will sign, we are lead to believe that it'll all be signed by the end of June, so this week then.

Two questions are now left, how much will the new owners have to for Mr.Dowie to spend on players and more importantly if this court ruling goes against Mr.Dowie which might make him insolvent, will the club still be able to hire his services???? questions questions eh?

[briggcov]

Take Over Update:

Well nothing really has changed, Robinson has tecnically bought back half of the richo arena, so he can sell it to the new guys if and when the buy. The deal was originally forcast to complete by the end of June, where now in August. No doubt progress is being made in a business way but form a fan prospective this is starting to get painful and worrying as to what is causing all the holdups.

Never fear ......