Gary Hoffman,who is an excutive director of Barclays Bank and Chairman of Barclaycard joins a new board which comprises of Mel Brannigan,Joe Elliott and Ray Ranson after the closely monitored in some circles, SISU Equity gained the ninety per cent of shares it demanded.
Both Hoffman and Joe Elliott are likely to be the supporter face of the new set up with Mel Brannigan, the Financial Director and Ranson the Chairman.
Joe Elliott told the CT: "The deal is done and this is a momentous week in the history of the football club.
"We can now look forward to a great future and I believe we now have a young dream team in place, including Ray Ranson, the new manager Chris Coleman, SISU and ACL, all working together.
"I am personally over the moon to be on the board and working with such a visionary chairman who, I am sure, will ensure there are great times ahead.
"It is an incredibly exciting day. SISU have invested heavily and the future of the club is in very safe hands.
Ray Ranson said: "I am delighted to announce that Sky Blue Sports and Leisure Ltd (SBSL) in respect of the Offer document dated 14 December 2007 has now received acceptances in excess of 90% to acquire the issued ordinary share capital of Coventry City Football Club (Holdings) Limited.The Offer is now unconditional.
Per the terms of the Offer, SBSL will apply the provisions of Chapter 3 of Part 28 of the Companies Act to acquire any outstanding Coventry City Football Club (Holdings) shares in respect of which acceptances of the Offer have not yet been received.
"I would personally like to thank all fans and shareholders for their support and understanding throughout this challenging period.