Doug King completes purchase of Coventry City Football Club to become full owner
Doug King has completed the full purchase of Coventry City Football Club.
The Stratford-based businessman has now purchased the remaining 15% of the Club that was owned by SISU Capital Limited.He brought 85% of the Club earlier this month.The company name has also been changed from Otium Entertainment Group Limited back to Coventry City Football Club Limited - marking the start of a new era for the football club by returning to its traditional company name.
Doug King said: “To ensure that a new era for Coventry City Football Club begins with full transparency and clarity, I am happy to announce today my full, 100% takeover of the Club with my purchase of the 15% SISU shareholding.
“As outlined in my recent press conference, the Club at this moment has no debt owed to me or any other party.
“All future funding of the Club via any loans will also not be interest bearing whilst I am the Owner.“This then concludes the change of ownership story.“I am now totally focused on the balance of the season and the future thereafter, and following through on our plans to take this great Club forward.”