Skip to main contentAccess keys helpA-Z index

[an error occurred while processing this directive]
watch listen BBC Sport BBC Sport
Low graphics|Help
---------------
---------------
CHOOSE A SPORT
 
RELATED BBC SITES
Last Updated: Sunday, 22 July 2007, 14:51 GMT 15:51 UK
Coventry takeover still on course
Coventry City
Coventry managing director Paul Fletcher says the takeover by American consortium Manhattan Sports Capital Partners is progressing.

The Manhattan Sports Capital Partners consortium agreed a deal to buy the Sky Blues earlier this year.

Fletcher admitted negotiations were slow but he remains optimistic.

He said: "I met with key members of the Manhattan Capital Partners on Wednesday and Thursday this week. I'm happy to report things are still progressing."

He added: "I am also fully aware the speed of negotiations is far slower than most people's expectations - especially CCFC supporters.

"But such is the complexity of potential agreements between Coventry City Football Club, Coventry City Council, Arena Coventry Ltd and the Higgs Charity more time is necessary to ensure everyone is happy.

606: DEBATE

"Once these negotiations reach a satisfactory conclusion and Manhattan have made their formal offer, Coventry City Football Club will then be in a position to make a formal statement."

Last month City called an Extraordinary General Meeting and asked shareholders to vote in favour of the club transferring their option to buy back 50% ownership of the Ricoh Arena to acting chairman Geoffrey Robinson as security for personal loans he has made to the club.

The club sold their 50% share in the Arena to the Alan Edward Higgs Charity during more troubled times.

Manhattan Sports Capital Partners is the bid vehicle for American investors Sean McDevitt and Philip Harris, along with US-based English investment advisor Roger Marment.

The takeover talks are being spearheaded by business consultant and life-long City fan Gary Hopkins.

Coventry also dismissed reports that Liverpool legend Graeme Souness could mount an 11th-hour bid to buy the club.

Souness, who attempted a 20m buy-out at Wolves earlier this year before expressing an interest in Southampton, was invited by Fletcher to look around the Ricoh Arena last week.

But Robinson says Souness has no interest in trying to buy the club.

SEE ALSO
Coventry investors urge patience
14 May 07 |  Coventry City
US group eyeing Coventry takeover
07 Mar 07 |  Coventry City
Coventry in talks with investor
22 Feb 07 |  Coventry City
Angry Dhinsa ends Sky Blues bid
15 Dec 04 |  Coventry City


RELATED BBC LINKS:

RELATED INTERNET LINKS:
The BBC is not responsible for the content of external internet sites

BBC PRODUCTS AND SERVICES
Daily and weekly e-mails | Mobiles | Desktop Tools | News Feeds | Interactive Television | Downloads
Sport Homepage | Football | Cricket | Rugby Union | Rugby League | Tennis | Golf | Motorsport | Boxing | Athletics | Snooker | Horse Racing | Cycling | Disability sport | Olympics 2012 | Sport Relief | Other sport...

Help | Privacy & Cookies Policy | News sources | About the BBC | Contact us