Statement from Peter Kubik, Partner at national accountancy group UHY Hacker Young, on the administration of Convers Sports Initiative plc

“My partner at UHY Hacker Young Andrew Andronikou and I were appointed as Joint Administrators to Convers Sports Initiative plc (CSI).”

“CSI own a number of sports teams, media franchises and entertainment rights businesses. None of CSI’s subsidiaries are subject to an administration order.”

“We were appointed as Administrators after uncertainty arose over the future of CSI. CSI has a number of sports related assets and we are very confident of finding interested buyers for these subsidiaries. Our aim is to ensure that the sale process is as smooth as it possibly can be.”

“We will now be undertaking a period of due diligence at CSI and once that has been completed we will be in a better position to answer questions.”