Rival bidder enters Coventry City fray
THE Coventry City takeover saga has taken another twist with the news that an Asian consortium has approached the club with a bid.
Investors from companies based in Singapore, Malaysia and China would look to take on the League One club and the side’s rented ground at the Ricoh Arena.
And with just days to go before the May 31 deadline for bids set by the club’s administrator, it may come down to a straight fight between the Asian bid and one already tabled from American magnate Preston Haskell IV.
The Asian consortium is looking to take charge of the Ricoh Arena, which is currently owned by Arena Coventry Ltd (ACL), who manage it on behalf of its joint owners, Coventry City Council and the Alan Edward Higgs Charity.
Coventry City, currently owned by Sisu, have been in administration since March and since the season ended the club has effectively been locked out of the Ricoh Arena as a result of a row with ACL over unpaid rents.
Birmingham-based property consultancy CBRE has been charged by the club with searching for a suitable site for a new ground and brownfield sites such as the former Peugeot plant at Ryton may be considered.
But any new ground would take several years to construct and – unless a deal is done which involves taking over the Ricoh Arena – ground sharing would seem to be the only option left for the club for next season.
A plan to share Walsall FC’s Bescot Stadium ground has been heavily mooted in the local press but is by no means a done deal with many Sky Blues fans voicing their opposition to the club playing home games outside the city’s boundaries.
