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Paul Appleton names Otium Entertainment Group Limited as preferred bidder for Coventry City FC Limited.

CCFC Ball

Paul Appleton, the administrator for the part of Coventry City Football Club which is in administration has said the bid put forward by Otium Entertainment Group Limited was ‘substantially more’ than the three other offers received.

The company is connected to Sisu, who took over the Sky Blues in 2007.

Former Coventry City directors Ken Dulieu, Onye Igwe and Leonard Brody founded Otium Entertainment Group Limited.

Yesterday, Appleton revealed that by the noon BST deadline, he had received four final and best offers for the company, with two bidder’s identities being confirmed; Otium Entertainment Group Limited and Preston Haskell IV, the American property businessman. The other two bidders were not revealed.

Many City fans had been hoping for Preston Haskell IV’s bid to be named as the preferential bidder, however Appleton has instead named Otium Entertainment Group.

“Following a stringent sale process, I can confirm a bid has now been accepted from Otium Entertainment Group Limited.“This offer allows me to achieve the purpose of the Administration and, following discussions with the Football League, I am hopeful a completion of the sale can be achieved as swiftly as possible.“I realise and appreciate the end result of the sale process will not necessarily be welcomed by a large number of Coventry City fans.“However, the bid from Otium Entertainment Group Limited was substantially more than any of the other three bids received and was the bid which gave the greatest return to the unsecured, non-connected creditors of CCFC Limited by a considerable margin.”

– PAUL APPLETON, ADMINISTRATOR FOR COVENTRY CITY FC LTD

OFFICIAL COVENTRY CITY FOOTBALL CLUB STATEMENT:

“We are pleased with the decision which helps to assure the future of the Club. 
 
“Our absolute focus now is to exit CCFC Limited from the administration process so we can get back to running a football club and make the decisions we need to in time for next season.”
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About RNTomlinson

Part-time blogger. Full-time entertainer. Can be found on RNTomlinson.com & ccfctv.co.uk.

Discussion

11 thoughts on “Paul Appleton names Otium Entertainment Group Limited as preferred bidder for Coventry City FC Limited.

  1. r.i.p. coventry city. i wont be there

    Posted by Rob Birdy Crowe | June 14, 2013, 6:40 pm
  2. this is now the end of our club,,,,,,,RIP sky blues

    Posted by ian harris | June 14, 2013, 7:17 pm
  3. To be honest this isn’t the news i was hoping for this company is as bad as SISU, its just a subsidiary Of SISU. we want someone who has a proper interest in the club. Might as well put a death sentence on the club.

    Posted by Chris Gooding | June 14, 2013, 8:00 pm
  4. if all the fans have said sisu out.. “so sisu” in.. (subsidiary of sisu).
    Its like a team with out supporters.
    bye bye my sky blues

    Posted by AJ Mitton | June 14, 2013, 8:20 pm
  5. Time to vote with our feet. If they wish to keep hold of our club then leave them to pour their millions in until they realise it no longer matters as we will not participate by spending our money supporting them. Build your stadium we won’t come. Eventually they will go. I will support what ever team we have in what ever league and rebuild. The club emblem has a Phoenix in it for a reason. The club like the city it represents will rise like the ashes of their lies and mismanagement

    Posted by Lee | June 15, 2013, 9:42 am
  6. It always gets complicated when a club goes into administration, arguments , contracts and legal disputes. Messy stuff.Coventry is just but one of the many clubs that have suffered the fate of administrators knocking on their door.Leeds , Stockport, Portsmouth and loads of others have been involved in messy insolvency issues!

    Posted by Tom | July 17, 2013, 10:42 am

Trackbacks/Pingbacks

  1. Pingback: Preston Haskell IV:”I sincerely hope for the best at Coventry City.” | ccfctv - June 15, 2013

  2. Pingback: City fan’s email to the Football League. | ccfctv - June 15, 2013

  3. Pingback: Petition to the Football League & FA reaches 5,000 signatures. | ccfctv - June 17, 2013

  4. Pingback: Football League Chairman Greg Clarke on Sky Sports News tomorrow talking about Coventry City situation. | ccfctv - June 17, 2013

  5. Pingback: Rumours: Nottingham Forest make bid for Carl Baker. | ccfctv - June 25, 2013

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