COVENTRY Bees owner Mick Horton has put the club up for sale and is inviting offers from people to help take the club forward in the future.
In a statement released online last night, Mr Horton said he knows he has to step aside and invite offers.
On Sunday morning it was confirmed the world-famous Coventry Bees club would not be racing this season following a bitter off-track dispute between the Bees, CoventryStox and stadium owners Brandon Estates Ltd.
The statement read: “I paid Mr Sandhu £200,000 plus VAT for the club and now I have lost it all. Am I bitter? Yes I am, but I know we are where we are, and the most important priority for me now is to do the right thing to ensure the Bees can come back next season stronger, and hopefully racing in Coventry.
“To do this I know I have to step aside and invite offers to take the club to the next level.”
Horton accepted the frustration of fans and said the finger can be pointed in several directions.
He then confirmed to fans that he did not sell the stadium, he did not remove the fixtures and fittings and did not bring about the ongoing criminal proceedings which Brandon Estates are still pursuing.
The statement added: “Their (BSPA) decision was relayed to me during Friday evening, and rightly or wrongly I waited for the BSPA press release which arrived Sunday morning. I read this at 11.00am and notified the riders at 11.16am. I now accept I should have notified them sooner and can only apologise.
“Only the night before, I attended the NSSC fans forum with Jim Lynch to give the fans an update on Brandon and to discuss the team and our plans for racing at Leicester. Like I say, I am still in shock with what has happened.
“It was never going to be easy getting through this season but we were optimistic that the Coventry fans would still come and watch. With the funds available to the club, we estimated a break even figure of 800-900 fans which, with a good team like ours, was achievable. On top of this we had a promise of funding which the BSPA were involved in discussions with. Sadly, this promise did not materialise.”
The statement was concluded by thanking Coun Michael Stokes for his efforts during the negotiation process, the fans, riders, sponsors and staff at the club before concluding by thanking his family.