Sisu intend to continue their application for a second judicial review into the sale of the Ricoh Arena to Wasps. The application was put into abeyance pending the outcome of today's appeal.
Sisu claim the deal of a 250 year lease offered to Wasps was not offered to the football club
Sisu intend to argue that Arena Coventry Limited (ACL) was unlawfully sold on the cheap and that Coventry council failed to take into account all previous valuations.
Wasps bought ACL's shares for £5.5m from the council and the Alan Higgs Charity and paid back £13.4m lof the £14.4 loan to the council.
An independant valuation of the Ricoh Arena, for Wasps done by Strutt and Parker, prior to the sale, valued the stadium deal with the 250 year lease at £48m.
Sisu could claim a multi million pound settlement from Wasps and the council if they are successful.