Consortium’s third bid for relegated football club rejected

A consortium that wants to take over football club Coventry City has had a third bid rejected.

The group, which includes the club’s former vice-chairman Gary Hoffman and multi-millionaire Richard Overson, have been seeking to buy the club from its current owners Sisu.

However hedge fund Sisu, and its owner Joy Seppala, have so far refused to engage with the consortium and are insisting the club is not for sale.

It has been a difficult few years for the club, which was relegated this month and will play next season in League Two – the first time in more than 50 years it has been in the fourth tier of English football.

Overson told the Coventry Telegraph that the latest bid, which is reported to be worth up to £20m, was quickly rebuffed.

“They [Sisu] just issued a knock back saying ‘get lost’ really. We need to find out exactly what they think this club is worth,” he said.

“Sisu need to come out and say ‘this is what the club is worth’. They have a figure in their heads that nobody knows.”

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