American multi-millionaire Preston Haskell IV has "made his move to buy" League One Coventry City Football Club and half the Ricoh Arena, according to Andy Turner of the COVENTRY TELEGRAPH. The bids were turned in on Haskell's behalf by suspended Sky Blues President Joe Elliott and former Vice Chair Gary Hoffman. The success of the move "hinges on administrator Paul Appleton’s ruling on the location of the elusive golden share, the club’s licence to operate." Haskell hopes the share being held by Coventry City FC Ltd, the business currently in administration, and "has made an offer to Appleton to purchase the club on that basis." The "takeover team" has also made an offer for Higgs Charity’s half of the Ricoh Arena, which "will only go through if they get the football club." Elliott: “We can confirm that we have now tabled an offer for Coventry City Football Club Limited (in administration) which assumes the Football League’s ‘golden share’ is in that company. Everyone knows that the stadium and the football club need to be brought closer together." The potential buyers are ready to enter the due diligence phase, where Haskell would have to "provide proof of funds and his credentials" and would get the opportunity "to look at the books of the Ricoh" (COVENTRY TELEGRAPH, 5/16).
