 Then, on 10 October 2007, Geoffrey Robinson resigned as Chairman of Coventry City Football club, stating that he wished to devote his time to pursuing his Parliamentary career.Joe Elliott promptly took over as Chairman on the same day, with rumours rife that the club was close to being called-in by administrators whilst burdened with estimated debts of £38 million.In response to takeover talks, the club confirmed that two consortia, one led by former Chairman Geoffrey Robinson and the other led by former footballer Ray Ranson, had offered takeover bids for the club.