Takeover a possibilty if club goes into administraion

19 March 2013 09:18
American businessman preparing takeover

Reports today suggest that American property tycoon Preston Haskell IV is preparing to make a move to take over Coventry City Football Club should the high court agree to the request made by the owners of the The Ricoh Arena (Arena Cventry Limited or ACL) to place the club into administration.

Haskell, a Texas multi millionaire who looked into buying Leeds United last year, will wait to see if the club contests the administration request or if the High Court will grant the application brought about by the faulure by the club to pay £1.3m in rent to ACL.

If the club does go into admistration it will immediately be docked 10 points by the Football League.

Haskell's father, Preston Haskell III is a minority shareholder in the NFL's Jacksonville Tigers. Preston Haskell IV founded the Haskell International Group in Moscow in the 1990's and has interests in restaurants, property management and development and furniture manufacting. He also set up the Haskell Vineyards after he bought the Dombaya wine farm in Stellenbosch in South Africa in 2002.




Source: Coventry MAD