Owners of the Ricoh Arena say they won’t sell up until they trust a potential new partner.
Coventry City Council say there is no way they will sell their own stake of the Ricoh, unless owners SISU make it clear, who they are and where they get their money from.
It’s more likely that the Higgs Charity that own the other fifty percent of the stadium will sell, but the council say they will block any sale unless they are sure SISU, or another new owner, has the money to continue developing the site.
The club have expressed an interest in taking ownership of their ground because at the moment they don’t make any money from the bars and faciltiies.
Cllr John Wutton* told Mercia:
“We would use our powers of vito unless we were confident that people weren’t just trying to buy a 50 percent share of the stadium to mortage it for several millions of pounds and disappear; not just leaving the football club in a mess but the Ricoh as well.”
Peter Knatchbull Hugessen from the Higgs Charity said:
“Our shareholders would love to sell… But SISU are the new type of football management. We need to know who they are.”
*I think they mean "Mutton" ?
