ACL Cited As Reason For Byng Bid Withdrawal
Byng On Why He Withdrew
Michael Byng has cited the actions of Arena Coventry Limited as one of the reasons that his Chinese investors pulled out of an indicative bid for Coventry City Football Club Ltd.
Byng told the Coventry Telegraph's Les Reid: "The Chinese are looking to get involved with the Ricoh Arena and football club but not in the middle of the argument,
"They were extremely dissatisfied with that was going on.
"The reason they withheld their indicative bid was that they didn't understand what was going on - they didn't understand ACL's motives for making an indicative bid. They had understood ACL wanted to sell the Ricoh Arena."
Mr Byng maintains that his investors are still interested in talks at a later stage providing the football club is still playing at the Ricoh Arena.
Source: Coventry MAD
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