Coventry City has several takeover offers

English Coventry City managing director, Paul Fletcher, feels he is advancing in his search for new money for the club, especially since two firm offers were received and a third offer expected soon.

Last week, Fletcher stated the club was not facing the threat of administration due to a breakdown in talks with potential investors.

"While I am not at liberty to discuss any specific names or financial matters, I can say that there have been two firm offers made," Fletcher was quoted in TeamTalk.

"They are legitimate offers that are in the long-term interests of the club and we expect a third offer to come in over the next few days."

Fletcher said that both offers included keeping manager Iain Dowie and his staff with the club.

In February, American consortium, Manhattan Sports Capital Partners, led by investors Sean McDevitt and Philip Harris, along with US-based English investment advisor, Roger Marment, agreed in principle to buy Coventry City and take on its estimated GBP 28 million debt.

Those talks were hosted by Gary Hopkins, business consultant and lifelong Coventry City fan, and since then, three other interested parties have expressed an interest in the club.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.