It is seeking private equity funding aimed at attracting a total investment of £250,000, ensuring that the club will not be in the control of an individual.

A number of ordinary shares are available and Peter Rossborough, Chairman of the newly-formed Coventry Rugby Limited, said:

“We have had an encouraging start with a substantial amount of serious inquiries already received from individuals, groups and companies. A number of commitments have already been received.

“We know this will be a long process because we also need to win the hearts and minds of people following the fragile financial record of the club over the past few years. We need to convince potential investors that their money will be treated with the utmost propriety.

“We are determined that the club becomes a trusted institution run by a board which honours corporate governance. This is the only way forward for us and we are working hard in talking to people about our plans. We hope to be able to be able to announce more details shortly”.

An open forum has been arranged at Butts Park Arena on Monday, February 1 (6pm for 6.30 pm) when supporters will hear an outline of the board’s proposals and have an opportunity to quiz them.

Peter Rossborough added: “This is all part of our new policy of being absolutely open with our supporters. They deserve nothing less after the trauma they have gone through”.

Apart from maintaining the club’s status in the Championship, the board recognises that their priority must be to raise capital urgently to underpin the business.

Backing has already been pledged by businessman, Jon Bowles, who has invested an undisclosed sum to secure the club’s immediate future. Based on the south coast, Mr Bowles is interested in promoting the community side of the club as well as its future on the field.

In addition to establishing the trading arm, the club has set up a foundation, Coventry Rugby Foundation, which will hold the assets and set up the community side of the business, which is regarded as imperative for its future.

The new board comprises Peter Rossborough (Chairman), John Maguire, Andrew Carpenter, Jim Ashby, Chris Gregory, Nick Newbold, Mike Thomson and Bob Curtis, with Barry Robinson as director/company secretary and financial controller.

The playing side remains under the control of Director of Rugby, Phil Maynard and Operations Director, Michael Doyle looks after commercial operations. Both have guided the club through difficult times in recent months.

The Board of Coventry Rugby Limited aims to draw a line under the past and move forward with strength, unanimity and business acumen to secure the future of one of England’s greatest clubs.

INTRODUCING... COVENTRY RUGBY'S NEW BOARD MEMBERS

Peter Rossborough

President and Chairman

Peter's rugby career has seen him play for, coach and manage the English National Team whilst captaining and playing almost 400 times for Coventry. Peter is a very well respected individual in the game and at the Rugby Football Union. Peter was educated at King Henry VIII School and Durham and Warwick Universities. He taught in Coventry and Warwickshire and was Head of Ashlawn School for 21 years prior to retiring in 2008.

John Maguire

Long time supporter of Cov, proud to be Coventry born, John studied Construction Management at Sheffield Hallam University prior to managing and owning a successful Coventry based construction business. Although no longer in construction, John has a variety of business interests both at home and overseas. Cofounder of The Centurions back in the Coundon Road days, John wants to see the Club put back on a firm footing to enable steady and solid progress, both on and off the field, over the coming years.

Andrew Carpenter

Andrew was born in Coventry and still lives in the City. Andrew's first memories of Cov date back to the sixties, being taught to yell "Come on Cov" at the tender age of five or six and watching George Cole, despite wearing shorts covering his knees, effortlessly slot goals for Cov. Andrew was educated at King Henry VIII School. He then studied Business Studies at Coventry Business School and gained a Master of Science degree in Management from Aston Business School. He is also a qualified Chartered Secretary. Andrew has spent his career of 25 years in the motor industry in a wide variety of commercial roles and currently works for Jaguar Land Rover, responsible for Global Distribution Strategy.

Bob Curtis

Bob was born and bred in the area and attended Woodlands School. Since then his business commitments have taken him slightly further afield and he has been a successful businessman for many years, working in the wholesaling sector. He is a very well respected man within both the business and sporting community and was one of the people responsible for the formation of the original Centurions club at Coundon Road. In his younger years, Bob played rugby, football and cricket at senior level in Coventry and is fully committed to the Club’s future. He has worked hard alongside John Maguire to successfully resurrect the Centurions Club.

Chris Gregory

Chris has lived in and around the city for some time, his children attended King Henry VIII School in the city and he is a loyal supporter of the club with his wife, with whom he regularly attends home and away games. He has over 20 years of corporate finance experience and is a founding partner of Orbis Partners LLP and a former partner at Deloitte in Birmingham. Chris is a non executive director of 4 companies and has completed over 200 deals in the last 20 years, in which he has acted as lead adviser. Chris has a strong belief that Coventry needs strong professional sports teams to help the city believe in itself.

Nick Newbold

Coventry born and bred, Nick attended King Henry VIII School in the city and is the Managing Director of HIA International, a successful insurance broker which started trading in April 1997 and now has over 30 members of staff based in 3 offices in the UK. HIA holds agencies with all "household named" insurers and also has representation at Lloyd's of London. Nick played rugby for the Old Wheatleyans in the city for over 25 years and is a big supporter of all sports. Nick is also committed to voluntary work and dedicates much time to The Acorns Children's Hospice and Cure Leukaemia Charities.

Jim Ashby

Jim was born in Coundon and educated at Bablake School.  He was an apprentice metallurgist at Jaguar Cars after which he became development metallurgist at Standard Triumph.  He then emigrated to USA where he became vice president of a large precision foundry.  Returning to Coventry after eight years he started a new company supplying material testing equipment to laboratories.  This was sold in 1985, and another company was formed where he is currently the managing director. His passion is Rugby Football and he is determined to see Coventry Rugby back in the top flight where it has always belonged.

Mike Thomson

Mike is yet another King Henry VIII old boy. He was born and bred in Coventry and pursued his early career working in the automotive industry. He first started working within Purchasing at Jaguar before switching to various sales and marketing roles within the supplier base. This culminated in him being Global Vice President of Sales for a $6.5 billion turnover company. Following his departure from the automotive world Mike followed his family business interests and is now Managing Partner of his own investment company with a large client base. Mike also has business interests in the employee benefit sector. He is an avid fan of Coventry Rugby Club and is determined to see the club restored to its former glory.

Barry Robinson

Finance and Company Secretary

A real “Coventry Kid” who attended Frederick Bird and Caludon Castle schools before taking up accountancy as a career. Started his training with the local firm of Daffern & Co and since has worked for a number of leading businesses including GEC and IBM. Despite having a celebrated Coventry and England rugby playing cousin, Ernie Robinson, Barry is long suffering Coventry City Supporter. In recent years he has worked at a senior level within a privately owned industrial group with a joint turnover in excess of £10million. Barry brings to the Club a great deal of commercial knowledge and expertise to establish a firm base upon which it can grow.