Coventry City Chief Executive Officer, Tim Fisher has stated that the current Sky Blues owners, SISU are in it for the “long haul.”
In March, the League One side were placed into administration and deducted 10 points after a dispute over unpaid rent with the owner’s of the Ricoh Arena, ACL.
Administrator Paul Appleton, has set a deadline of May 31st (tomorrow) for any bids for the club to be received by and so there he has received two offers; one from American business man Preston Haskell IV’s consortium and one from a consortium led by lifelong City supporter, Michael Byng.
But Fisher told BBC Coventry & Warwickshire: “It’s a 10-year horizon. Let me be absolutely crystal clear, Sisu are in for the long haul.”
Appleton has admitted that there has been confusion and complication when it comes to the sale of the club, due to the dispute over the location of the ‘Golden Share;’ effectively the club’s ticket to play in the Football League.
Current owners SISU claim the Golden Share is in Coventry City Holdings Ltd, the division of the club which is not in administration, however the High Court ruled that it was in Coventry City FC Limited, the division placed into administration.
Despite initially appealing the deduction of points, SISU revoked the appeal and withdrew it’s complaint. Chief Executive Officer, Tim Fisher admits the confusion is having a detrimental effect on preparations for the 2013/2014 season.
“The administration process goes on and that has an impact on putting together the squad,” he commented.
“[Manager] Steven Pressley is very clear in his mind which players he wants, and clearly we can’t go and get them until we come out of administration and come out of the transfer embargo.”