Wasps CEO Nick Eastwood denies Joy Seppala's claims, saying: "We have no interest in buying Coventry City"
Monday 24 June 2019 13:06, UK
Joy Seppala, the head of Coventry's owners SISU, has told Sky Sports News she believes rugby union side Wasps are trying to buy the club.
Coventry are going to play their home matches during the coming season at Birmingham's St Andrew's stadium after failing to agree a deal with Wasps to remain at the Ricoh Arena.
Seppala offered her apologies to Coventry's fans and, in an exclusive interview with Sky Sports News, said she has proof Wasps were involved in a failed bid to purchase the club.
She says she recently turned down an offer from a consortium led by Gary Hoffman, in which Wasps were also involved.
Seppala also says the consortium never provided proof of funds, and that the offer was worth far less than the reported £7m.
She told Sky Sports News: "When we have been approached to buy the club, we ask for heads of terms, proof of funds and if you reach our target level, we'll give it due consideration.
"Needless to say, there has never been proof of funds ever provided by the consortiums from the same cast of characters who have continuously presumably bid for the club.
"We hear from very reliable sources that Wasps want to buy Coventry City."
Asked to explain why a rugby union side would want to invest in a football club, Seppala said: "There's this magnificent stadium which has 32,000 seats.
"We are a League One club with a similar size to a Premiership rugby club in terms of revenue generation - and that is as far as they can go.
"The reality is as a football club, the sky is the limit. We can fill the stadium. We have the chance of being a Premier League club, with Premier League revenues.
"Coventry is a big city with an enormous fanbase. We sold out two consecutive Wembley finals. We have a tremendous supporter base.
"Irrespective of whether they like me or not, they love the club. So I think there is unlimited potential. But as a Premiership rugby club, you have topped out."
However, Seppala's claims are disputed by Nick Eastwood, the chief executive of Wasps Group, who told Sky Sports News: "We have no interest in buying Coventry City.
"We would simply like to see the club back playing at the Ricoh Arena, a view we believe is shared by everyone involved."
