American Haskell 'agrees to buy half share of Ricoh Arena'

[dutchman]

According to reports, American property tycoon Preston Haskell IV has agreed a deal to purchase a half share of the Ricoh Arena with a view to buying Coventry City.


Preston Haskell IV

Haskell has also reportedly promised to invest heavily in the playing squad, overhaul the club’s operations, bring Joe Elliott in as chairman and offer fans the chance to buy 20 per cent of the club.

The American, who has a a fortune estimated at $250million (£164m), is said to have agreed to buy the Alan Edward Higgs Charity's share of ACL, which runs the Ricoh.

ACL is co-owned by Coventry City Council and has been embroiled in an increasingly bitter rent wrangle with current Sky Blues owners Sisu.

Last week, Sisu placed a non-operating subsidiary of the club into administration on the eve of a High Court appearance where they faced an administration order from ACL over £1.3m in unpaid rent.

Following an adjournment, Sisu and ACL will face each other again in front of a judge on Tuesday.

City moved all staff and stock out of the Ricoh to their training ground at Ryton on Friday and rumours are rife they could play their remaining three home games of the season at another venue in the West Midlands, possible Birmingham City's St Andrew's or Walsall's Banks's Stadium.

Haskell has agreed to buy the half-share of ACL provided he can take over its management.

“What I want is to see Coventry City back where it belongs at the top level of the English game,” Haskell told The Sunday Times.

“To return this club back to the Premier League will take investment in the team and a proper management structure, both of which I can provide.

“Coventry has a fantastic fan base - over 30,000 attended a Johnstone’s Paint Trophy game this season - and I want to bring that support back into the club by inviting the supporters trust to take 20 per cent of its shares.

“I also want to bring Joe Elliott back as Coventry’s chairman. He’s a man who bleeds Sky Blue and who is furious about what the current owners have done to his club.

“I have an agreement in principle to purchase the Higgs Trust 50 per cent share of the Ricoh and take over its management. The agreement is on condition that I am allowed to purchase Coventry City once the administration process is completed.”

However, a statement released today the the trust said: "As it stands, it is our understanding that Coventry City FC is not actually for sale and we believe it would be irresponsible to comment specifically on each and every name that emerges, however as the Trust has been specifically mentioned we feel in this case we should make a statement.

"The Sky Blue Trust can state that they have had no contact with and have held no talks with Mr Haskell IV and can therefore not pass any direct comment on the validity of the article.

"Instead we'd like to reiterate our view that the future of Coventry City FC depends on supporters being properly involved in the ownership and running of the club, and the Sky Blue Trust will continue to work with all parties to bring that about.

"The fact that the Sky Blue Trust and the prospect of fan involvement in the ownership and governance of the club, is mentioned in such a well-respected publication as the Sunday Times, reflects the growing influence of the Sky Blue Trust and the very concept of fan ownership and this is very welcome."

Haskell IV is the son of 74-year-old Preston Haskell III, founder of The Haskell Company - the largest privately held construction company in Florida and a top design/build firm in the US. Haskell III was until recently a minority owner of NFL team Jacksonville Jaguars.

He moved to Moscow in 1992 to start the Haskell International Group, which began with real estate investment and property management but also operates restaurants and manufactures furniture.

He has interests in mining in Siberia and Africa as well as having extensive investments in the Democratic Republic of Congo. Haskell IV is also involved in a vinyard in South Africa.