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Coventry owners open to offers

The hedge fund owner of Coventry City FC is open to offers from a buyer with the clout to capitalise on financial difficulties at Wasps, the rugby team that owns the football club’s shared stadium.

Wasps, who play in England’s top rugby division, are in default on a £35 million bond, having failed to repay retail investors who helped to finance the purchase of the Coventry Building Society Arena in 2015.

Sisu, a Mayfair-based hedge fund, is considering a sale of Coventry City, believing that Wasps’ distress may present an opportunity for a third party to make an offer for the club and, at the same time, bid to acquire the lease for the arena. 

Sisu is thought to be open to the football club changing hands or a part-sale of equity if a third party also manages to acquire the lease for the stadium, which was built by the council in 2005. An anonymous source told The Times that the natural next step for Coventry City was promotion to the Premier League, but that would require “serious investment”, possibly from a third party.


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