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Coventry City could be next English club in US takeover bid

Another US business consortium has its eyes on an English soccer club, this time Coventry City of the League Championship, the division below the Premier League.

The club said on Wednesday that it is in advanced takeover talks with investors Sean McDevitt and Philip Harris, who are negotiating through a company called Manhattan Sports Capital Partners.

Coventry issued a statement saying it had been dealing with the US group through a British investor, Gary Hopkins, who is a lifelong fan of the central English club. Coventry have won only one major trophy, the FA Cup in 1987.

"The Manhattan group are at an early stage of their due diligence and it will not be possible for some time to be sure whether or not the deal will go ahead," the statement said. "We hope it will."

The Sky Blues, who were relegated from the Premier League in 2001 after 34 consecutive seasons in the top flight, are reportedly ?28 million (US$54 million) in debt.

The club has not come close to a return to the Premier League and is eighth from last in the League Championship standings.

"We have made it clear to the Manhattan group that any new arrangements for the club must involve substantial investment in improving and strengthening the squad to achieve the club's Premiership ambitions," the statement said.

Some of the biggest clubs in English soccer are already in US hands.

Malcolm Glazer, owner of the Tampa Bay Buccaneers football team, bought Manchester United. Cleveland Browns owner Randy Lerner took over Aston Villa. Tom Hicks, owner of the NHL's Dallas Stars and Major League Baseball's Texas Rangers, and George Gillett, owner of the Montreal Canadiens hockey team, have a controlling interest in Liverpool.
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