Coventry to be saved from administration
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Coventry are set to avoid administration after Ray Ranson's SISU Capital consortium completed their protracted takeover at the Ricoh Arena yesterday.
The Championship club had been given until 4pm to complete the deal and prove their solvency, or face a 10-point deduction.
Ranson has proved to be City's saviour in the face of a reported 38m debt. The takeover is subject to the acceptance of 90 per cent of all shareholders, but major holders Craigavon and Sir Derek Higgs, who own 71.4 per cent, have already agreed.
Retiring chairman Joe Elliott said: "This is a very exciting day in the long, proud history of Coventry City Football Club. I am sure that Ray Ranson and SISU Capital will help drive Coventry City forward into a brand new era for the club.
"I ask that remaining shareholders return their signed forms or attend the special office at the Ricoh Arena, as per instructions within the shareholder's document, by Monday evening."
He added: "I'd like to pay special thanks to Iain Dowie, his management team, the players and all the staff who have supported the club in a difficult time."
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments