Coventry City FC sale complete

The administrator for Coventry City says the sale of the club to a company connected to its current owners Sisu has been 'completed'.

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MEP to meet with Football League over Coventry City

West Midlands MEP Nikki Sinclaire Credit: PA

European MP for the West Midlands, Nikki Sinclaire, is meeting with the Football League later this month, after Coventry City fans contacted her 'out of desperation'.

The MEP is inviting fans to submit questions for her to take to the meeting next Wednesday in London.

Fans are unhappy with Coventry City being moved to another Midlands club while a new stadium is built.

The administrator for Coventry City confirmed last week that the sale of the club has been completed.

SIsu, who have controlled it since 2007, were selected as the preferred bidder for the Sky Blues, which has got debts of around £70 million.

Coventry City supporters hold protest at Ricoh

Credit: ITV News Central

A group of Coventry City fans have held a protest today to demand that the club stays in the city.

Current owners Sisu are planning on moving the Sky Blues to another stadium in the Midlands whilst they build a new ground.

Earlier today, members of The Sky Blue Trust unveiled a statue of Sisu boss Joy Seppala, to show they're against the proposals.

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Breaking: Coventry City sale 'completed'

The administrator for Coventry City says the sale of the club to a company connected to its current owners Sisu has been 'completed'.

More to follow...

"I can confirm that the asset sale by Coventry City FC Limited to Otium Entertainment Group Limited has been completed.

Otium has purchased the right and title to certain assets possessed in Limited including the shares in the Football League and the Football Association. I stress that I have only been able to sell such right and title to these as Limited possesses because CCFC Holdings Ltd asserts beneficial ownership over them."

– Paul Appleton, administrator for Coventry City FC Ltd

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Winning Sky Blues bidder connected to current owners

The administrator for the part of Coventry City which is in administration has said the bid put forward by Otium Entertainment Group Limited was 'substantially more' than the three other offers received.

The company is connected to Sisu, who took over the Sky Blues in 2007.

The bid from Otium Entertainment Group Limited was substantially more than any of the other three bids received

and was the bid which gave the greatest return to the unsecured, non-connected creditors of CCFC Limited by a considerable margin.

– Paul Appleton, administrator for Coventry City FC Ltd

'No bid' from Ricoh firm for Sky Blues

Ricoh bosses had put in an indicative bid for the club Credit: Jon Buckle/EMPICS Sport/PA

The company which runs the Ricoh Arena, is no longer trying to buy the part of Coventry City which is in administration.

ITV News Central has been told that Arena Coventry Limited, which is half-owned by Coventry City Council, has not put in a 'best and final' bid.

The company earlier this week put in an indicative bid for Coventry City Ltd but has since pulled out.

Four final offers have been put forward for the company.

Two of those are understood to be the the Sky Blues' current owners Sisu - and American property tycoon Preston Haskell IV.

Coventry owners bid to keep control of club

ITV News Central understands the current owners of Coventry City have put in a bid to buy the part of the club which is in administration.

Sisu are among four parties who have entered bids for Coventry City FC Ltd, ahead of a deadline set at 12pm today.

A consortium led by Preston Haskell IV, an American property tycoon, has also put forward a 'best and final' bid.

Sisu took over the Sky Blues in 2007 and owns another part of the club, Coventry City Holdings Ltd.

The hedge fund are planning to move the club out of Coventry for three years whilst they build a new stadium.

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