Talks have stalled over Coventry City's attempt to buy back their fifty per cent share of Arena Coventry Limited.
A Heads of Terms deal agreed between SISU and the Alan Edward Higgs Charity who were sold the stake in the Ricoh Arena back in 2004, passed its deadline and there are now no discussions taking place on as City getting a much needed share of their current playing facility.
Peter Knatchbull-Hugessen, Clerk to the trustees of the Alan Edward Higgs Charity, said to the Coventry Telegraph's Les Reid: "The charity has an obligation to maximise its assets and it must consider any serious offer for its stake in Arena Coventry Limited, subject to the agreement of an acceptable price and accompanying terms.
"Sisu has never provided these, and no discussions are taking place at this time."
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Source: Coventry MAD