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SBD Global/June 12, 2013/Franchises
League One Coventry City Allowed To Stay At Ricoh Arena Rent-Free Next Season
Published June 12, 2013
UP FOR SALE: The BBC wrote Coventry City "is the subject of bids from six potential buyers." It is not yet clear whether the offer would still apply if one of those bids is accepted by Administrator Paul Appleton, after Thursday's final deadline, "and the club subsequently comes out of administration" (BBC, 6/11). The COVENTRY TELEGRAPH also reported three parties have confirmed that "they have officially bid to buy Coventry City out of administration." Among them is what is believed to be an entity related to hedge fund Sisu, which owns Coventry City Football Club (Holdings) Limited, "the company still running the club and Warwickshire-based quantity surveyor Michael Byng." Speaking from Dubai, where he is meeting the Chinese financiers interested in buying the club, Ricoh Arena, and investing in the Coventry and Warwickshire region's rail network, he said, "An indicative bid was submitted before the administrator's deadline of Friday" (COVENTRY TELEGRAPH, 6/11).