According to the Coventry Telegraph this evening, negotiations for SISU to buy the Ricoh Arena fell because Coventry City Council stepped in to sort out ACL's bank debt.
The paper says:"Sisu's case is the charity must shoulder the blame for negotiations breaking down with the council after ACL and the city council agreed a deal which saw the council effectively become ACL’s mortgage lenders by buying the stadium company’s bank debt.
"Club sources have said that Sisu paying off the bank debt was a key part of the discussions and that the club was forced out of a potential deal as a result of the council stepping in."
The Court Case in Birmingham between the Alan Higgs Charity who are suing for £29k due to negotiations breaking down and SISU who are counter claiming for £290k starts in the morning and is expected to last three days.
Full story: http://www.coventrytelegraph.net/news/coventry-news/coventry-city-fc-alan-edward-6900286