By Simon Gilbert, Coventry Telegraph
September 26 2014

Coventry City Council would look to retain 10 per cent interest if Premiership rugby club deal goes ahead, Telegraph understands

A Ricoh Arena takeover bid by Premiership rugby side Wasps would involve the franchise owning 90 per cent of stadium operating company ACL, the Telegraph understands.

Any deal would also have to be voted through by the full council – but that vote could be held in private.

The details have emerged after the Telegraph recently revealed Premiership rugby side Wasps are in talks to purchase a majority stake in Ricoh Arena operating company ACL.

ACL is jointly owned by Coventry City Council and the Alan Edward Higgs Charity and it is understood the council would look to retain a 10 per cent interest in ACL as part of the deal.

News of the potential deal sparked fears it could jeopardise Coventry City Football Club’s chances of remaining at the venue on a long term basis.

Sky Blues officials have insisted they must “own their own ground” going forward in order to become financially sustainable. But a Ricoh Arena takeover by Wasps would seemingly thwart the football club’s chances of owning the stadium.

However, council officials have now said any takeover deal would need to be approved by full council, a process which would allow any councillors opposed to the move to put forward their views.

A spokesman for Coventry City Council said: “We are committed to consider all options available to not just protect but also maximise the potential of the Ricoh Arena, but any discussions with any interested parties would remain commercially confidential until councillors needed to make a specific decision.”

Click here for more on this article.

Ricoh Arena takeover bid: Wasps could buy 90 per cent share.

Discussion started by Unofficial Coventry Rugby (IP Logged), 26/09/2014 17:26

Unofficial Coventry Rugby
26/09/2014 17:26

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the best for coventry
29/09/2014 09:36

what good news wasps want to come to the richo .i think they will get great support from coventry birmingham etc ,just what we need
1st class team in coventry

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tom snr
29/09/2014 16:59

with Moseley going to be Wasps feeder team as well-says it all-tbefc

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