The former Wood Ender and front man for the Manhatten Consortium told the CT: "Clearly, the proposed takeover of Coventry City is taking much longer than anyone hoped and I fully appreciate that people are both frustrated and growing impatient.
Hopkins - Takeover Is Still On
The former Wood Ender and front man for the Manhatten Consortium told the CT: "Clearly, the proposed takeover of Coventry City is taking much longer than anyone hoped and I fully appreciate that people are both frustrated and growing impatient.
"I think it is important for fans to know that the delay is primarily the responsibility of the Manhattan Sports Group aligned to the very complicated financial solution that is required to ensure that the club is underpinned correctly and can move forward with confidence.
"For the past five months we have been working closely with both the football club and the Arena company to analyse what is required to secure this future. "It has been clear to everyone that the club has been operating under severe financial pressures and these continue. "Frankly, the Championship is a very tough economic league for any team to operate in.
"The Arena is a fantastic asset to the city of Coventry and a great home for Coventry City FC. "It is, however, still a young new business and is finding its feet. "The Arena company have shared their numbers and plans with us and, indeed, have been open to our input into how we as a group can assist and support this growth. "The Arena, at this stage in its development, is not the total solution to the financial challenges the club faces but clearly can be a very important part of the future.
"I can categorically state that everyone at the football club, council, the Arena and the Higgs Charity that we have worked with are very committed to doing everything they can to ensure the future success of Coventry City FC and to get it back to the Premiership.
"We have not yet made a formal offer for the club or Arena but continue to work with our investors to achieve this. "At this pivotal stage in Coventry City's future it even more important that everyone gets behind the team, supports the Arena and gets the club off to a great start to the season."
Gary Hopkins (right)