City deny takeover claims

13 September 2007 01:56
Coventry City have denied claims that the club is close to entering administration due to the breakdown of talks with potential investors. The Sky Blues announced in February that an American consortium spearheaded by businessman and lifelong City fan Gary Hopkins had agreed a deal in principal to takeover the club. However, further details have been kept under wraps leading to suggestions that the deal had fallen through. But City managing director, Paul Fletcher, has denied the claims and has rubbished reports of an impending slide into financial difficulties. "We're still heavily involved in discussions with the Manhattan group, and I can't see any situation where we will go into administration," he said. "The club has decided it is not going to give a day-to-day commentary about where we are. "The club have also issued statements outlining interest from other groups so I do not know where these kind of stories originate."

Source: ESA