Following Jojar Dhinsa's statement earlier this week, Coventry City's Board of Directors have issued the following:
We, the Board of Directors, are of the opinion that Mr Dhinsa has had ample opportunity to submit his bid for the purchase of Coventry City Football Club.
From day one, in April, when the Club asked him to submit a formal letter, he has chosen not to do so. Following this letter, there would have been an opportunity to meet with the Directors and subject to the Board’s approval, the chance to carry out due diligence. However, Mr Dhinsa has preferred not to accept the Club’s invitation. In addition to this, although Mr Dhinsa claims he is uncomfortable meeting with the media, he has chosen to conduct his business through television, radio and newspapers – both local and national.
We also allowed Mr Dhinsa to set his own timetable for his proposed takeover, which was November 30 – over seven months after the initial meeting between Mr Dhinsa and Coventry City Chairman Mike McGinnity. The Board then received a letter from Mr Dhinsa’s solicitors on this day, proclaiming that he had received information from an insider at the Club – or someone close to the Club whom the Club presumes is known to Mr Dhinsa – regarding Coventry City’s accounts. We believe this to be an untruth and an opportunity for Mr Dhinsa to stall his approach after Coventry City was subsequently informed that he had received an ‘anonymous’ phone call in the early hours of the morning. In a subsequent email to the Club, Mr Dhinsa stated that even though he had a bid prepared, he wished to investigate these allegations further.
The Club proposed that he submitted his detailed bid, confirmed that the money was in place for a takeover and following this, we would allow his professionals to proceed with due diligence. If, as alleged by Mr Dhinsa, any discrepancies in the accounts had been found, the Club would naturally assume that he would have reduced his bid pro rata or alternatively he could have withdrawn his offer totally.
It is somewhat surprising that at a recent fans’ forum, he has conceded that he does not have a £4-million house in Virginia Waters as he has previously stated, nor does he have a fleet of 19 cars. The Board also questions his alleged £2.5-million property in Sloane Square, as was reported in the London Evening Standard. The Club has also been unable to substantiate many of Mr Dhinsa’s claims, including the viability of his businesses. The board has always stated that it would welcome any new investors in the Club but Mr Dhinsa has been unable and unwilling to provide proof of his wealth.
Mr Dhinsa’s approach to Coventry City has been totally disruptive to the Club, including his suggestions that he would sack the Manager and instigate a clean sweep of staff. This has been unsettling for all concerned.
We are therefore relieved that Mr Dhinsa has withdrawn his interest in Coventry City although we would encourage him to be totally honest with the Club’s supporters, many of whom have been lead to believe that he is in a position to take over the Club.