American Tycoon eyes Sky Blues - but Sisu have options (2 Viewers)
- Thread starter Flying Fokker
- Start date
AFCCOVENTRY
Well-Known Member
The cut and paste on this Cet article is appalling.
I guess Sisu will ask for a delay I guess...
I guess Sisu will ask for a delay I guess...
Flying Fokker
Well-Known Member
Dude, for some reason the Ipad doesn't cut and paste. Please note the link has been changed.
WillieStanley
New Member
I think a delay is the most likely outcome on friday. SISU will go down, but they'll go down fighting.
Sub
Well-Known Member
American Tycoon eyes Sky Blues - but Sisu have options
Comments (90)
UNITED States property tycoon Preston Haskell IV has emerged as the man waiting in the wings to swoop for Coventry City should the club be placed in administration on Friday.
The Coventry Telegraph can confirm that the American, who has a fortune estimated at $250million (£157m), is being lined up by Ricoh Arena owners ACL to take over the football club.
The Texan multi-millionaire looked to buy Leeds United late last year.
ACL – jointly owned by Coventry City Council and the Alan Higgs charity – has made the application to the High Court for administration over £1.3m in arrears, racked up after the club stopped paying rent, arguing they were being vastly overcharged. A judge is due to look at the case on Friday.
The Coventry Telegraph can confirm that the American, who has a fortune estimated at $250million (£157m), is being lined up by Ricoh Arena owners ACL to take over the football club.
The Texan multi-millionaire looked to buy Leeds United late last year.
ACL – jointly owned by Coventry City Council and the Alan Higgs charity – has made the application to the High Court for administration over £1.3m in arrears, racked up after the club stopped paying rent, arguing they were being vastly overcharged. A judge is due to look at the case on Friday.
This could force out Mayfair-based hedge fund owner Sisu, which has ploughed more than £40m into the club and had hoped to acquire a stake in the Ricoh.
Potential American investors have been to the Ricoh Arena on two occasions, one being last week’s Colchester game, and understood to have been given a tour by ACL interim chief executive Jacky Isaac.
However, although ACL have seized the initiative to force a change of ownership, Sisu could turn the tables as the apparent end game plays out.
There are three possible scenarios, the first being that Sisu themselves could put Coventry City Ltd into administration to make sure they get their own administrator who might be deemed more sympathetic to their situation, but they would have to do it before 9.59 on Friday morning.
A second scenario could see Sisu ask for an adjournment on Friday to give them more time to contest it.
The third scenario is that the judge looks at the case and comes to the conclusion that the football club is insolvent and can’t pay its debts and puts the club into administration with immediate effect.
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.
Haskell IV 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.
Taking to The Sunday Times about a possible Leeds takeover, in which he promised £10m to invest in players, Haskell IV said: "As a businessman I see a club that has an incredible brand and that offers a great entrepreneurial opportunity to take it back to the level which it saw in its glory days.
Leeds is a well-managed club from Ken Bates down to Neil Warnock, and I have great respect for that aspect of its operations.
"It’s a very strategic investment. I love English football, the Premier League is where everyone aspires to be, and Leeds has an incredible support base, the pedigree, and a global reach, including South Africa, Australia, Ireland, and Norway. In short, it has a global following.
"It is one of the absolute blue-chip teams."
Potential American investors have been to the Ricoh Arena on two occasions, one being last week’s Colchester game, and understood to have been given a tour by ACL interim chief executive Jacky Isaac.
However, although ACL have seized the initiative to force a change of ownership, Sisu could turn the tables as the apparent end game plays out.
There are three possible scenarios, the first being that Sisu themselves could put Coventry City Ltd into administration to make sure they get their own administrator who might be deemed more sympathetic to their situation, but they would have to do it before 9.59 on Friday morning.
A second scenario could see Sisu ask for an adjournment on Friday to give them more time to contest it.
The third scenario is that the judge looks at the case and comes to the conclusion that the football club is insolvent and can’t pay its debts and puts the club into administration with immediate effect.
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.
Haskell IV 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.
Taking to The Sunday Times about a possible Leeds takeover, in which he promised £10m to invest in players, Haskell IV said: "As a businessman I see a club that has an incredible brand and that offers a great entrepreneurial opportunity to take it back to the level which it saw in its glory days.
Leeds is a well-managed club from Ken Bates down to Neil Warnock, and I have great respect for that aspect of its operations.
"It’s a very strategic investment. I love English football, the Premier League is where everyone aspires to be, and Leeds has an incredible support base, the pedigree, and a global reach, including South Africa, Australia, Ireland, and Norway. In short, it has a global following.
"It is one of the absolute blue-chip teams."
Last edited:
AFCCOVENTRY
Well-Known Member
The actually article is a cut and paste job by the reporter mate! He has used the same story and cut some stuff out from another paper and added some stuff from wiki!
Your link works fine!
Flying Fokker
Well-Known Member
Oh thanks. I did have to change it with my PC though. It didn't link on the ipad.
covcity4life
Well-Known Member
im buying into pressleys brand of football,i dont want ne owners to sack him!
i hope sisu can get an adjournment, we cant let pompey game be meaningless
good firday game will be rocking if we are top 6
i hope sisu can get an adjournment, we cant let pompey game be meaningless
good firday game will be rocking if we are top 6