Sisu Capital (Sisu), the owner of Coventry City Football Club (Coventry City FC), has initiated new legal proceedings against a local authority over the sale of the Ricoh Arena.
Sisu confirmed it will be taking Coventry City Council to court for the second time in the space of a few years.
It had previously pursued a judicial review after claiming that civic leaders had broken state aid legislation. Judges ultimately found in favour of the council.
Now Sisu is questioning the legality of the local authority’s decision to sell its 50 per cent share in the football stadium to Wasps Rugby Club three years ago.
Wasps had bought the shares in the operating company in October 2014, paying out £2.77million.
A Coventry City Council spokesman said: “We can confirm that following the conclusion of the Judicial Review last December in the council’s favour, the council has now received notification that Sisu intend to pursue their second Judicial Review claim relating to the sale of the Council’s shares in ACL and the lease extension on the Ricoh Arena to Wasps.”
Coventry City FC’s deal to play at the ground is due to come to an end next summer, with talks over a fresh agreement with Wasps, having ground to a halt.