Sky Blues talks gather pace
07 Mar 2007 - 17:08:23
Coventry City have confirmed that an American consortium is in advanced talks to takeover the Championship club.
The Sky Blues have been in discussions with The Manhattan Sports Capital Partners over a buy-out of the club in a deal which also involves US-based business consultant Gary Hopkins, who is a lifelong Coventry supporter.
"The Manhattan group are at an early stage of their due diligence and it will not be possible for some time to be sure whether or not the deal will go ahead. We hope it will," confirmed a club statement.
"Meanwhile, we have made it clear to the Manhattan group that any new arrangements for the club must involve substantial investment in improving and strengthening the squad to achieve the club's Premiership ambitions."