UK time is: 13:59:39
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Sky Blues call EGM

Coventry City Football Club have called an Extraordinary General Meeting to ask shareholders whether the club's option to buy back ownership of 50 per cent of the Ricoh Arena should be transferred to acting chairman Geoffrey Robinson from the the Alan Edward Higgs Charity as security for loans he has made to the club.

Robinson told shareholders in a letter: 'Over the last 4-5 years, the club has survived only because of loans made by me personally to the club and my personal guarantees to the club's bankers - The Co-operative Bank PLC. Such direct loans total in excess of 11,000,000 and my personal guarantees amount to 8,000,000.

'I agreed to provide additional and extended guarantees to the club following the said Bank's requirements on condition that the club's options over shares in Football Investors Limited pursuant to a Joint Venture Agreement dated 19 December 2003 was assigned to me absolutely.

'The material value of such option is quite insufficient to cover my current risks.'

The move is seen as the next step in the takeover of the club by Manhattan Sports Capital Partners although former Newcastle boss Graeme Souness has also been linked with a deal to buy the Sky Blues.




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



Click here to join in the debate on the club forum.

The Journalist

Writer: CCFC Mail feedback, articles or suggestions

Date:Monday June 18 2007

Time: 12:00AM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Coventry City Articles

City Need Points Not Plaudits (Monday October 20 2014)

CCFC: Pressley Feels The Pressure (Saturday October 18 2014)

Stats: Coventry City v Bristol City (Saturday October 18 2014)

Coventry City v Bristol City (Saturday October 18 2014)

Crunch Time for Sky Blues (Friday October 17 2014)

City Make Double Ticket Announcement (Thursday October 16 2014)

Bristol City Bring Impressive Ricoh Record (Wednesday October 15 2014)

Can City end an Unbeaten Run Again? (Monday October 13 2014)

Stats: Crewe Alexandra v Coventry City (Saturday October 11 2014)

Archived Coventry City Articles

List All Vital Coventry Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. houchen 22
2. roberts 6

League Results (view all)

League Table (view table)

Team P W D L GD Pts
14. Doncaster 11 4 2 5 -6 14
15. Crawley 13 4 2 7 -11 14
16. Colchester 13 3 4 6 -2 13
17. Coventry 13 3 4 6 -5 13
18. Gillingham 13 3 4 6 -6 13
19. Yeovil 13 3 4 6 -9 13
20. Leyton Orient 12 2 6 4 -2 12

Breaking League News

Preview: MK Dons vs Fleetwood Town
MK Dons : 20/10/2014 13:44:00
Walsall Keen To Extend Butler Loan
Sheff Utd : 20/10/2014 13:28:00
Villa Agree To Robinson Extension
Preston : 20/10/2014 13:27:00
The Time Is Right For Oli
Bradford : 20/10/2014 13:25:00
Cotterill Touched By Fans Reaction.
Bristol City : 20/10/2014 12:09:00

Current Site Poll (view all polls)

Now City Are Back, Where Will They Finish?
Suggested By:  Editor
Top Two 10%
Play-Offs 18%
Top Half 27%
Bottom Half 9%
Bottom Four 36%