September 30th, 2016

Decision on Sky Blues Ricoh bid expected soon

Decision on Sky Blues Ricoh bid expected soon Decision on Sky Blues Ricoh bid expected soon
Updated: 4:53 pm, May 07, 2015

A DECISION over Coventry City’s bid to jointly own the Ricoh Arena company with rugby club Wasps is expected soon.

The Coventry Observer website exclusively revealed last week the bid to 50pc shareholder Alan Edward Higgs Charity was being submitted – via CCFC Limited liquidator Paul Appleton.

The charity has two options to consider, the club’s bid and another from Wasps, believed to be for £2.77million.

CCFC chairman Tim Fisher says the club has made a “very generous offer” which includes working in partnership with the charity on football community programmes with educational and health benefits for local youngsters.

Last month, Coventry City Council agreed in private to sell the other 50 per cent shareholding in Arena Coventry Limited to Wasps.

As part of that deal, council sources disclosed last month the council’s right to veto any proposed sale of the Higgs share would pass to Wasps.

It would give Wasps the power to veto – or block – any purchase of the Higgs shares, should the charity decide it wants to sell to the club.

The Higgs charity said it could not comment as the Observer went to press.

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