Higgs Charity Heard Nothing From SISU Since June

Last updated : 30 November 2012 By Covsupport News Service

According to a post attributed to Higgs Charity clerk to the Trustees Peter Knatchbull-Hugessen on the Sky Blues Talk forum, the Higgs Charity have not heard anything from Coventry City or SISU about buying their fifty per cent share in Arena Coventry Limited since June.

The posting on the Forum is as follows:

"I always fear when I post that it may pose more questions than it will answer. But I will do my best to add some clarity to the situation within the confines of confidentiality imposed by the situation. There is what the Telegraph calls a “war of words” going on. Given that we haven’t said anything yet it seems to be something of a one-sided “war”. I don’t want to respond to what Tim Fisher and now Geoffrey Robinson have said. They have their own reasons for painting the picture that they do. 

The Charity’s position is clear. If and when there is a sensible offer from a potential purchaser the Trustees will sell if the City Council is happy that their potential partner is sound and will work with them to take forward the success that is the Ricoh Arena. 

As it stands we have heard absolutely nothing from Sisu or CCFC since June. At that time the “deal” was ragged and needed further discussion and agreement before the Charity’s advisers could be comfortable with a sale to Sisu/CCFC. Sisu/CCFC have not come forward to us with any solutions to any of the sticking points.

"The Charity is proud of the success that is the Ricoh Arena. The project has made a step change in the regeneration of North East Coventry. It has created and is continuing to create new jobs and to bring in inward investment to Coventry. It has become nationally known and is part of a success story. It is doing the job it was intended to: bringing international exhibitions and conferences, international and national sporting events, and major concerts to Coventry. It has never been all about football and I don’t think that many would disagree if I said that we would not have had this development had it been in the hands of the Football Club.

"Of course ACL is having to look at its business model and how it finances itself in the face of yet another failure of the Football Club to control its spending. It is inevitable that the Board of ACL will have to make some difficult decisions in the very near future. The Charity will support those decisions if they look to benefit the long term future of Coventry. If those decisions also help the short term needs of the Football Club so much the better. But it has to be the long term future of ACL and the city of Coventry which is the driver for those decisions. I hope this helps to address some of the concerns of my fellow board users. "

More on this; http://www.skybluestalk.co.uk/threads/23131-PWKH-Any-news-you-can-give-us-gt