Hedge Fund Set To Take Over British Soccer Club

Dec 11 2007 | 10:39am 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.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of