US billionaire in bid to take over club and ground

A BID to buy Coventry City Football Club and the Coventry Building Society Arena is reportedly being considered by an American billionaire.

John Mcevoy, according to BBC Coventry and Warwickshire, is considering a bid to buy the Sky Blues as well as the ground – which is owned by Wasps Holding Limited.

It is said that any bid would be spearheaded by City fan John Dawkins, the managing director of record label Various Artists Management.

However, the reports adds that the current owner of the Championship football club, Joy Seppala, is not “actively seeking” to sell the Sky Blues.

The latest report follows revelations of three different parties who are interested in the Coventry Building Society Arena and/or Wasps – whose parent company Wasps Holdings Limited faces a race against time to find £2million by Monday (October 17) to pay off an unpaid tax bill to HMRC and avoid a winding up petition.

A failure to meet that deadline would result in the business going into administration and the rugby club’s relegation from the Gallagher Premiership.

Other parties that have been reported include the NEC Group’s interest in the stadium, former Newcastle United owner Mike Ashley’s reported interest in the whole Wasps business, including the stadium – which is also the claimed desire for a bid by Terminum Capital, spearheaded by former Wasps chief executive David Armstrong.

Mcevoy already has ownership stakes in US National Hockey League team Nashville Predators and Major League Baseball outfit Colorado Rockies.

The entrepreneur, who is a founder of San Diego-based mobile device distribution company, attended the Sky Blues’ match with Millwall in August – where is understood to have met a senior figure at the club.