The prospect of a takeover of Coventry City has ramped up in recent weeks with several interested parties circling over the Wasps owned CBS Arena. But, when the Arena formally went into administration, it was ruled that Mike Ashley's reported 17m deal, including a 1.2m exclusivity payment up front to help keep the ground open for the Sky Blues to play home games in, should be allowed to proceed. Coventry sit 14th in the Championship having been promoted in 2020 after the season ended prematurely because of the pandemic. A new licence agreement, however, was signed in December. 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Sports Mole previews Saturday's FA Cup clash between Coventry City and Wrexham, including predictions, team news and possible lineups. The Premiership rugby side share the same stadium with Mark Robins squad and are in default regarding a 35 million bond after failing to repay retail investors who financed the purchasing of the Coventry Building Society Arena in 2015. "He's been careful not to promise the earth but he has said he does have bigger resources than the previous owners with which to back up Mark Robins and the recruitment team.". Information & facts. City sign new CBS Arena rent deal until end of season, King himself made a late 25m bid to also buy the stadium, which was up for sale after Premiership rugby union side Wasps, the ground's owners since 2014, revealed in October that they would have to go. The Coventry Observer is one of a group of local weekly newspapers spanning Worcestershire, Warwickshire and the West Midlands published by Bullivant Media Group - each newspaper providing all the latest local news, sport and advertising, in print and 247 on line. Click to get a sign-in link sent to your email. Declan Harte. Coventry City: Liam Walsh hopes set to end with Bristol City development. Please check you have typed it correctly. Coventry fans react to SISU statement after takeover bid rejected . One of the Sky Blues most notable transfers over the past few decades is centre-forward and former England international Dion Dublin who arrived from Manchester United in 1994 for just 2.70m Dublin racked up over 140 games for Coventry, scoring 61 times before moving on to Aston Villa in 1998 for an increased 7.74m fee. Recommended Posts. A new deadline of August 12th was granted, however Wasps have since outlined how they will also miss this date due to not being able to 'agree final terms for refinancing'. The businessman will be hoping to have an immediate impact with his new club, having taken on the role as Executive Chairman at the CBS Arena. In his first press conference on Tuesday at Ryton, he said structures and relationships needed to improve for the club to move forward, which would require the right tools. 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Doug King now owns 85 per cent of the Sky Blues, having completed his deal to purchase the club from SISU earlier this month. NewsNow aims to be the world's most accurate and comprehensive Coventry City news aggregator, bringing you the latest Sky Blues headlines from the best Coventry sites and other key national and regional sports sources. We can provide all of your printing needs at competitive rates. Includes the latest news stories, results, fixtures, video and audio. Dhinsa is heading a consortium, who have reportedly got Russian backing which would add to his own estimated fortune of £40 million. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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Armstrong, who stepped down from his role with the Gallagher Premiership club in 2017, is understood to be working with investment firm Terminum Capital to buy the club as well as the Coventry Building Society Arena. The deal that has been put forward is worth more than 50m with a further 12m earmarked for working capital, and does not involve any interest in the football club. "Revealed: The Premier League club Southampton FC is close to being sold to Dragan Solak, a Serbian-born businessman behind cable-TV operator United Group, according to my sources. Maintaining stars like Viktor Gyokeres will be seen as a positive step the new owner can take. You can unsubscribe whenever you want. Coventry have been able to play at the CBS Arena during the turmoil and recently announced their own takeover. Up until 2000, Robbie Keane was the Sky Blues record signing as he arrived from Wolves for a massive 8.10m fee. I am looking forward to the future of this great club and what we can achieve together.. From the latest transfer rumours to some of the most memorable transfers in history, you can find all of the latest Coventry City transfer rumours right here to keep yourself in the loop with daily news! . Or by navigating to the user icon in the top right. SISU director Joy Seppala, who remains on the Sky Blues board, said: "Coventry City's future is bright under Doug King's leadership. "Already I have been struck by the enthusiasm of Sky Blues fans, with many personally wishing me well and I thank them for those sentiments.". Breaking CCFC rumours & news now, 24/7. The entrepreneur, who is a founder of San Diego-based mobile device distribution company, attended the Sky Blues match with Millwall in August - where is understood to have met a senior figure at the club. I like what I have seen and what I am hearing and it looks like its going to be healthy. How much is he worth? Former Sunderland striker Niall Quinn has denied reports that he is part of a consortium looking to buy the club.. Rumours emerged claiming that the 51-year-old is involved with a group that have spoken to current owner Ellis Short about a takeover bid.. The club has dealt with a number of off-field issues this campaign, which Robins will be hoping are now behind them for the time being. Councillors at Coventry City Council the previous month had agreed in private a 14million bailout of the Ricoh Arena company and had issued a statutory demand for rent repayment. No.7 route details here. In a statement, the club said: "Mr King's purchase of the Sky Blues . By clicking "OK" or continuing to use this site, you agree that we may collect and use your personal data and set Warwickshire Police are now investigating, Coventry Library offering walk in Covid vaccine clinics, No booking is required for the clinics at Coventry Central Library and those eligible for the booster can just walk in. . cookies to improve your experience and customise advertising. It might be argued weve relied too much on the flow of talent from our academy., Asked if Robins had also sought assurances on the future of the academy and where Coventry City will be playing their home matches when the current three-year tenancy to play at the Wasps-owned Ricoh Arena expires after next season, he said: Were working through these issues in private at this stage.. "Already I have been struck by the enthusiasm of Sky Blues fans, with many personally wishing me well and I thank them for those sentiments. And to try to arrest the things that are happening now, and build for the future.. Coventry City receive Viktor Gyokeres boost amid Leeds United development. The Times claims that Sisu is thought to be open to the sale of the club but would also consider a 'part-sale of equity' if a third party looked to secure the lease for the stadium moving forward. Mr Fisher also discussed the clubs decision to replace Russell Slade with Robins in Sundays dramatic events first revealed by the Coventry Observer website. The report further claimed that Ashley has been in talks with Coventry City Council about plans which would involve control of Wasps, City and the stadium, while NEC are believed to have made an offer solely for the stadium, which is regarded as a potentially lucrative asset. Coventry City have been targeted for a takeover by a businessman who is willing to become their own 'Roman Abramovich'. Like or follow our Facebook page - Coventry City are one of the highest spending League One clubs of all time; however, the majority of their big-spending came during the Sky Blues nine year spell in the Premier League between the inaugural 1992 season and 2001 when they were relegated back down to Division One. Get the latest transfer news, match previews and news direct to your inbox! takeover links, Moises Caicedo price tag, Jude Bellingham latest Liverpool transfer news . But Mr Fisher made clear he was not about to walk away. The Times reported in August (2022) that Sisu will consider the sale of Coventry City, claiming they believe the financial distress of Wasps presents an opportunity for another party to make a bid for the club, whilst also looking to purchase the lease for the stadium. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. EXCLUSIVE: Coventry City chairman Tim Fisher dismisses takeover rumours and insists Mark. Thats been something thats happened over time here and that will continue.. Josh Wilson-Esbrand has joined Coventry on loan from Manchester City. Chelsea 'lodge 26.6m bid for Noni Madueke'. "This is a completely serious bid - I want to buy Coventry City Football Club, and at the end of the season we will be approaching the club," he told the Coventry Evening Telegraph. Bantams Torment Thames In D3, New Coventry City era under Doug King and January transfer window - Sky Blues Q&A live, Members News: Sky Blues Noughties Forward Hits 45 Today. Analysis and opinion from our chief football writer. The London-based hedge fund rescued Coventry from being wound up when they took over the club with 20 minutes to spare. Arsenal are only willing to offer France striker Alexandre Lacazette a short-term deal as the 30-year-old approaches the end of his contract next summer. It follows speculation two weeks ago that Mr Hoffman and former Sky Blues chairman Joe Elliott had reached an agreement in principle accepted by Sisu, a widely circulated rumour that was categorically dismissed as false. By Midlands Yellow, November 16, 2022 in Main Discussion - Norwich City. COVENTRY City chairman Tim Fisher insists Mark Robins WILL get the tools for the job requested by the returning boss and dismissed speculation he is trying to put together a consortium to take over the club, we can reveal. More news about Burnley's Nathan Tella on Sports Mole with page 3 of our historical player news. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. We don't have an account for this email address. Keep tabs on all of the latest news, views and Man United transfer rumours with our dedicated blog updates. King has purchased 85% of the club, making him the majority owner, with the previous owner Sisu Capital retaining 15%. It is the first time the club has responded to the latest rumours, including the Hoffman bid. They moved first to Northampton in 2013 for more than a season, prior to Wasps being allowed to move in, later followed by two seasons with Birmingham City, before returning to Coventry again in 2021. The home of Coventry City on BBC Sport online. Sorry, no headlines or news topics were found. 2023-01-09 05:19:15.000000 FA CUP FOURTH ROUND DRAW: Ince takes Reading to Man Utd; Man City and Arsenal put together Within its portfolio of brands is the National Exhibition Centre, located just 15 minutes down the M6 from the CBS Arena. It is said that any bid would be spearheaded by City fan John Dawkins, the managing director of record label Various Artists Management that looks after performers including Tom Grennan. He joined City from West Hams academy in 2019 and was handed his senior debut last season in the 6-1 Carabao Cup success against Wycombe. 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