Wasps' home at the Coventry Building Society Arena
Both Coventry City and Wasps play their home games at the CBS Arena

John McEvoy, an American billionaire, is considering buying the club.

John Dawkins is a Sky Blues fan and the managing director of a record label.

Joy Seppala is not trying to sell the Sky Blues, according to sources.

The CBS arena is owned by a rugby union team.

McEvoy is the founder of a San Diego-based mobile device distribution company.

He is listed as a member of the senior management team on the record label's website. He purchased a minority stake in the business in 2019.

McEvoy met with a senior figure at the club after attending the Sky Blues match.

The businessman is the latest name to be linked with a takeover of the stadium - with the Daily Mail reporting interest from ex-Newcastle United owner Mike Ashley and the NEC Group.

The former chief executive of the club has been linked with a bid for the arena.

The stadium's future is uncertain. The stadium operating company was granted a 250-year lease by the city council.

Wasps have been forced to take court action to fight off attempts by Revenue and Customs to force them to pay their debts.

Notices of intention to appoint administrators were filed with the Insolvency and Companies Court against the parent company of the stadium and the company which holds it.

A 10 working day grace period was provided by the court action to protect the club from being sued by their debts.

The club remained hopeful of getting the investment they need to avoid administration, according to the latest statement.

A number of potential investors and funders have come forward. We are still hopeful of securing a deal that will allow the group and entities that sit within it to move forward.

Over a two-year period, the most recent set of accounts for the company showed a loss of over 18 million dollars.

As a result of the delay in the full repayment, bondholders will have to pay another million dollars in interest next month, and this is just the beginning.

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