artful
lancashire
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91 of 714
Fri 15th Feb 2013 12:05am
Mark Robins asked for assurances from SISU that where not forthcoming. Hazarding a guess those assurances would have concerned the ongoing saga of the Ricoh Arena and the rent arrears.
Robins had the good sense to know that the revenue streams generated by the Arena on match days was vital to his efforts to move the club forward. SISU tried their hardest to bring about the downfall of ACL by illegally withholding the rent. Fortunately the Council thwarted their plans and ACL are now in a strong position.
None of this helps the Football Club to move forward. I THINK this was the real reason for Robins' premature departure.
I have supported the Bantams/Sky Blues since 1946 and I am now very concerned about their chances of surviving without administration and all of the trauma that entails. |
Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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artful
lancashire
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92 of 714
Fri 8th Mar 2013 9:51pm
Well we have another new manager in Steven Pressley. He came with a glowing reference from no less than Sir Alex Ferguson. I wonder if we'll get Wayne Rooney on loan LOL.
Given the club's perilous state at the moment, I hope he gets the chance to show what he can do. Good luck Steven in your efforts to rebuild a dying Football Club. |
Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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artful
lancashire
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93 of 714
Wed 13th Mar 2013 10:54pm
I see that ACL have applied to the High Court to put CCFC into administration.They claim that doing this prevents SISU from liquidating the Club. It will be interesting to see SISU'S reaction tomorrow. |
Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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TonyS
Coventry
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94 of 714
Thu 21st Mar 2013 8:57pm
Also sorry to hear that SISU have put Coventry City Football Club Ltd into administration, thereby avoiding the court case tomorrow. They have carefully rearranged their structure so that CCFC Ltd simply pays the rent to ACL - and has no other assets at all. It seems they can simply abandon this "layer" leaving ACL high-and-dry.
One wonders where we go from here? If I were ACL I'd lock the doors! |
Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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Beesman
Cornwall
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95 of 714
Thu 21st Mar 2013 9:13pm
Having just read the Coventry Telegraph report of the administration situation I'm more confused than ever.
Time to wrap a wet towel around my head to try to make sense of things. |
Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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Midland Red
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96 of 714
Thu 21st Mar 2013 9:33pm
On 21st Mar 2013 8:57pm, TonyS said:
Also sorry to hear that SISU have put Coventry City Football Club Ltd into administration, thereby avoiding the court case tomorrow. They have carefully rearranged their structure so that CCFC Ltd simply pays the rent to ACL - and has no other assets at all. It seems they can simply abandon this "layer" leaving ACL high-and-dry.
One wonders where we go from here? If I were ACL I'd lock the doors!
No they haven't, Tony - it's a "non-operating subsidiary" which has no staff or material assets"
Coventry City Football Club Holdings can confirm that a non-operating subsidiary of the Club has today been placed into administration.
A spokesman for the Club said: "It is important to stress that the Football Club itself is not under threat.
"This is merely a property subsidiary which owns no material assets and has no employees, on or off the pitch.
"The Club can confirm that all staff wages, PAYE and all other creditor commitments will continue to be met as before by Coventry City Football Club Holdings.
"Unlike other instances of clubs being taken either wholly or partially into administration, there are no HMRC or VAT implications and the Football Club will continue to trade as normal without interruption.
"Our main objective now is to remain competitive on the pitch and give Steven Pressley and the playing staff our full backing and commitment."
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Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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TonyS
Coventry
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97 of 714
Thu 21st Mar 2013 9:43pm
Hi Cliff, just read that on the Telegraph site. However, how can a 'non operating subsidiary" legally trade in the first place? i.e. if it's non-operating how can it be responsible for paying rent?
It appears that ACL contract for stadium rental was with CCFC Ltd - a non-operating subsidiary! |
Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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dutchman
Spon End
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98 of 714
Thu 21st Mar 2013 9:59pm
On 21st Mar 2013 9:43pm, TonyS said:
It appears that ACL contract for stadium rental was with CCFC Ltd - a non-operating subsidiary!
And the guarantor for the rent was Geoffrey Robinson so it's his head on the block rather than SISU
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Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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NeilsYard
Coventry
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99 of 714
Thu 21st Mar 2013 11:07pm
So if I read this right then - we're now possibly not going to lose 10 points but probably going down the Memorial Park for our home games. Someone's really killing our club. |
Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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dutchman
Spon End
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100 of 714
Fri 22nd Mar 2013 1:46am
"Bescot Stadium, Walsall", according to the Telegraph.
Learn how to speak Yam-Yam
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Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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NeilsYard
Coventry
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101 of 714
Fri 22nd Mar 2013 9:57pm
Looks like SISU are trying to call ACL's bluff. CCFC Facebook page is showing pictures tonight of the Ricoh shop and offices being emptied. |
Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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dutchman
Spon End
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102 of 714
Fri 22nd Mar 2013 10:57pm
I hear they've removed all the silver from the trophy room as well?
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Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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Positively Pottering
East Midlands
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103 of 714
Sat 23rd Mar 2013 1:20pm
So we've come to this!!!!
What a sorry state of affairs.
A club that's been mismanaged for many many years.
To those that are responsible - hang your heads in shame (that's if you have a conscience).
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Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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Midland Red
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104 of 714
Sat 23rd Mar 2013 1:22pm
Statement from Coventry City Football Club (Holdings) Ltd
As fans will know, Coventry City Football Club Limited was placed into administration on Thursday.
This subsidiary of the Club held the lease and licence for the Ricoh Arena. This covered the permission to play home matches at the stadium as well as the rental of the Club shop and the Club offices.
Given this subsidiary is now in administration, the Club has taken the decision to protect its staff by moving them from the stadium to the training ground at Ryton, before finding a more permanent base.
Employees, including all playing staff, are employed by Coventry City Football Club (Holdings) Limited and there is no threat whatsoever to their jobs.
We have also removed all stock from the Club shop as we will want to use this at other premises in the future.
We appreciate the anxiety of fans and season ticket holders. The Club is currently in talks with the Football League over a number of issues, one being a location where the Club can fulfill its three remaining home fixtures.
The company which owns the football club, Coventry City Holdings Ltd., continues to operate. As far as possible, it's business as usual.
Ideally, we would like to keep playing our home matches at the Ricoh if the stadium owners, Arena Coventry Ltd (ACL) will offer reasonable commercial terms. All we've ever asked for is an affordable rent with access to matchday revenues, like any other club. We hope these will be offered to us by ACL.
We noted that the owners of the stadium, ACL, told the court they would be prepared to assist their proposed administrator 'with a partial (or possibly full) deferral' of the stadium rent and licence fee during the administration process.
But following Thursday's decision to place Coventry City Football Club Limited into administration, ACL told the appointed administrators they would require the full rent and licence fee on the stadium to be paid.
To reach an agreement with ACL to allow the Club to move back and fulfil its fixtures at the Ricoh Arena, we would hope and expect ACL would extend the same terms to the Club.
Again, we realise these are anxious times for all Coventry City fans but rest assured we are doing everything in our power to reach a suitable outcome for all supporters and employees. |
Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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PhiliPamInCoventry
Holbrooks
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105 of 714
Sun 24th Mar 2013 7:55pm
Hi all
What I know about football will easily fit onto a postage stamp, but, what I do hope is that the word 'Reasonable' might come into this whole equation. I have witnessed good businesses flounder & come to grief, simply because of boardroom table intransigence. Sky Blues represent our city, so with that in mind, as well as our members here, I do so hope for a satisfactory outcome for all of this. Our members deserve our support. |
Memories and Nostalgia -
Coventry City FC (The Bantams, Sky Blues)
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