September 27th, 2016

Ricoh deadline looms for Sky Blues

Ricoh deadline looms for Sky Blues Ricoh deadline looms for Sky Blues
Updated: 4:43 pm, May 07, 2015

SATURDAY’S deadline is looming for Coventry City to table a bid for joint ownership of the Ricoh Arena company with rugby club Wasps.

The Observer revealed last week the club was in detailed discussions over finalising a bid for the 50 per cent share in Arena Coventry Limited owned by the Alan Edward Higgs Charity, for which Wasps are believed to have offered £2.77m.

As the Observer went to press it was believed a CCFC bid had still not been tabled and discussions continued with lawyers and the liquidator.

Joy Seppala, of the club’s hedge fund lenders Sisu/Arvo, told the Observer last week the intention was to make a “conditional” bid – while she insisted the club would press on with “medium-term” plans for a new stadium in the local area.

The Sky Blues’ future remains uncertain as the owners insist it cannot continue as Ricoh tenants, and must maximise commercial revenue from a stadium to be sustainable.

Comments