Coventry City Chairman Ray Ranson has said that SISU have taken nothing out of the Sky Blues after investing £23m in the club.
Speaking to the CT's Andy Turner, Mr Ranson, when asked about the £23m said: In a nutshell it can be broken down like this – £7 million to creditors, £6 million on transfer fees (including outstanding fees the club had not paid which meant the club was under a transfer embargo when we took over), £1 million to improve the training ground and the rest has gone on working capital to fund the losses over the two years.
It is on the record that the football club was nearly £40 million in debt and lost £8.5 million between May 2007 and May 2008. Since then the losses have been reduced by half.
I would like to repeat once again that SISU has taken no money out of this football club and that includes the transfer fees received for Dann and Fox – who we brought to the club. They have only put hard cash in and taken nothing out!"
On why, SISU like to shroud themselves in secrecy, Mr Ranson commented: SISU is an investment company which is very successful at managing other people’s money. It is privately owned. Their culture isn’t to tell the world what they are doing and how they are doing it, but to get on and do it. SISU funds are made up of private and institutional investors and for them to get a return on their investment in Coventry City, the club has to be successful.