Tuesday October 3, 2023

English Soccer Club Gets New Owner

  • Coventry City FC has been acquired by Yelo Enterprises CEO Doug King.
  • King purchased an 85% stake in the club from previous owner SISU Capital Ltd.
CCFC
Front Office Sports Today

NBC Could Get In On College Football Playoffs

NBC is exploring broadcasting a slice of the expanded CFP in 2026.
Listen Now
October 3, 2023 | Podcast
Linkedin
Copy Link
Link Copied
Link Copied

A second-division English soccer club has a new majority owner. 

Coventry City FC has been acquired by Yelo Enterprises CEO Doug King, who purchased an 85% stake in the club for an undisclosed amount from previous owner SISU Capital Ltd. 

The transaction clears all debt for Coventry City before King’s initial agreement in November 2022. The total debt for the club reached $35 million for the financial year ending May 31, 2021.

  • The Sky Blues compete in the English Football League Championship and are currently ranked 14th in the 24-team league’s standings.
  • The EFL Championship is the second-highest division overall in the English football system, following the Premier League.
  • Coventry City reported a $5.7 million loss for the financial year ending May 31, 2021, compared to a $4.1 million loss for the same period a year prior.

King is also the majority owner of RCMA Capital LLP. The London-based hedge fund manager oversees more than $400 million in investments. 

Problems at Home 

In December 2022, Coventry City received an eviction notice from the new owners of Coventry Building Society Arena — the club’s home field since 2005. The Sky Blues were asked to leave after refusing a “less favorable” lease offer from British retail and sports company Frasers Group, which took over the lease at CBS Arena in November 2022 for $21 million.

View of field and stands from inside the Coventry City goal

English Soccer Club Evicted from Stadium

An English professional soccer club no longer has a home.
December 5, 2022

That same month, Coventry City agreed to a short-term deal to keep playing at CBS Arena.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

EA Rewarded For Decision To Split With FIFA

Company sees strong uptick in pre-release sales activity

MLS Facility Boom Continues With $150M San Diego Project

The San Diego expansion team will join MLS in 2025.

LPGA Seeking Major Capital Raise Amid Golf Craze

The top women's golf tour is looking for new financial backing.

Big-Dollar Clubs Home For MLB Playoffs, But Money Still Matters

Postseason field includes set of lower-budget upstarts
podcast thumbnail mobile
Front Office Sports Today

NBC Could Get In On College Football Playoffs

0:00
0:00

Featured Today

Football analyst and PFF investor Chris Collinsworth talks to man in front of computers

Cris Collinsworth 'Lost a Lot of Sleep' Over Pro Football Focus Leadership Issues

New book details why it’s no longer a “happy place to work.”
NBC is interested in media rights to the expanded College Football Playoff.
exclusive
October 2, 2023

NBC Is Interested in Expanded College Football Playoff Media Rights

NBC is one of the networks pitching the CFP, a source confirmed.
October 2, 2023

MLB Attendance Surges 70 Million, Tops League Projections

League posts best year-over-year increase at the gate since 1993
Levi's Stadium
October 2, 2023

49ers Study Shows Benefits of Public-Private Stadium Deals

Levi’s Stadium has generated more than $2 billion per new study.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
Chicago
Fanatics
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations

Baltimore Looks To Return To The Oriole Way

Lease deal offers new hope, but market and economic challenges remain.
September 28, 2023

Orioles End Uncertainty With New 30-Year Lease Deal

New agreement follows more than three years of back-and-forth negotiations
September 28, 2023

AC Milan Abandons $1.3B Project For New 70,000-Seat Stadium

RedBird Capital-owned club continues path toward its own facility
September 28, 2023

Manfred Wants Vote On A's Move To Vegas In November

A's move will be just MLB's second franchise shift since 1971
Olympique-Lyonnais
September 27, 2023

French Soccer Club Lyon Seeking $300M Capital Raise

The club was sold for a record price last French year.
September 27, 2023

Magic Johnson Open To Knicks Minority Ownership Stake

Basketball Hall of Famer only interested in specific NBA franchise
Golden State Warriors GM Mike Dunleavy Jr. recognizes the impact the NBA’s new second tax apron rule could have on his organization.
September 27, 2023

Warriors GM Feels ‘Targeted’ With NBA’s New Tax, Rest Rules

"They're making rules to prevent you from succeeding,” Mike Dunleavy said.
September 26, 2023

Fire Owner Mansueto Bets On Messi To Elevate His Own Team

MLS team owner plans series of promotions, game enhancements