On this day 2007, Sisu Capital Ltd completed the deal to take ownership of Coventry City FC.
City released the following statement on the day: "The Board of Coventry City Football Club is pleased to announce that the terms of the offer made for the Club by SISU Capital, which is led by Ray Ranson, have been accepted.
Whilst this is subject to the acceptance of 90% of all shareholders, the major shareholders, Craigavon and Sir Derek Higgs, representing 71.4% of shares in CCFC, have already agreed to this offer, which will be forwarded to the remaining 28.6% of shareholders today. Craigavon is the family trust of Geoffrey Robinson.
The Board advises those remaining shareholders to react promptly to this offer and to sign the acceptance form contained in the correspondence to ensure swift completion of this deal.
The successful conclusion of this transaction ensures that the Club's future is secure and the threat of administration avoided."
And history has shown that it has been downhill ever since