Friday, 9 October 2015
Last updated 7 hours ago
Dec 11 2007 | 9:39am ET
London-based hedge fund Sisu Capital is almost a sure thing to buy British soccer team Coventry City Football Club, according to the Sky Blues’ chairman.
Joe Elliott told thisishampshire.net that the roughly £45 million (US$91.7 million) deal with Sisu is “virtually a done deal.” Elliott said he broke the news to Coventry’s other suitor—Greek billionaire Alki David—yesterday, and that he has “not heard any more from him.”
Coventry needs a cash infusion by Friday, or the team will enter administration.
Sisu have turned their sights to the Sky Blues after their bid for another soccer team, Southampton Football Club, stalled. The hedge fund revealed plans to take a 55% stake in the Saints last month, but Sisu has yet to meet with a the team’s three largest shareholders. Still, Southampton’s executive directors say Sisu’s £40 billion (US$81.5 million) offer is the only one on the table.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…