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Articles on football club takeovers and related issues
A group of Coventry City supporters and businessmen have made a ‘symbolic’ offer for the club of £51,897.35 on the understanding that it is debt free. They also have a plan to get the club back to the Ricoh Arena.
However, owners Sisu have reaffirmed that the club is not for sale. Sadly for Sky Blue fans, this stalemate shows no signs of ending.
One Direction star Louis Tomlinson could become what Elton John was to Watford with his takeover of Doncaster Rovers. He grew up in the town and has turned out for the club’s reserves. Each of the members of the band is estimated to be worth £14m.
Although they are grateful to escape the fate of Hereford United in being expelled from the Football Conference, Salisbury City fans are somewhat bemused by their new owner.
The takeover of Sheffield Wednesday by Hafiz Mammadov has given new hope to Owls fans, although the owner’s ambition of a return to the Premier League may take a while to achieve.
Mammadov also ownes Baku of Azerbajan and French club Lens. The deal is worth about £35 and is subject to ratification by the Football League. His company specialises in oil, gas, construction and transporation in Azerbajan.
Corporate recovery company Begbies Traynor have now taken over the sale of Reading FC from Sir John Madjeski. The club had to sell top scorer Adam Le Fondre to cover one tax bill and another one is due shortly.
Birmingham City have confirmed that they are in advanced talks to sell a minority stake to a British consortium with a ‘strong North American investment fund’. Whether this means that the consortium has North American backing or has substantial investments in the US is not clear from the ambiguous wording.
The shares of Birmingham City’s parent company, Birmingham International Holdings Limited, have been temporarily suspended while bids for the club are considered. However, a statement from the board indicates that it is considering selling an initial stake of just 24 per cent.
Five bids have been considered over the past fortnight with two British proposals not meeting with favour. The situation of the club is such that some kind of sale is urgently needed.
As expected, owner Randy Lerner has put Aston Villa up for sale after a disappointing season. His statement reveals a certain weariness about the struggle to make a success of the club.
The anticipated asking price is around £200m, but whoever acquires the club would need to make funds available to acquire players if the club is not to get sucked into a relegation battle next year. For Lerner, such a sale price would mean that he would recoup £100m less than his total investment in the club.
Alfreton Town FC have been put up for sale by owner Wayne Bradley after their best ever finish in the Conference. He feels that he has taken the football club as far as he can.
Attendances have been falling with an average of under a thousand. Any new investor would have to ask if the club has reached the highest level that it could reasonably attain given the size and potential of its catchment area.
Letchworth Albion FC were put on sale on eBay and were bought by two of the players for £45. The Hitchin Sunday League Division Two side have kept just four clean sheets in their four year history.