bigfatronssba
Well-Known Member
This suggests to me that acl think we will still be in admin at the start of the season. It also backs up their argument that the "club" is in administration.
ACL to allow CCFC Ltd to play for free! (1 Viewer)
- Thread starter duffer
- Start date
chiefdave
Well-Known Member
If SISU don't get Ltd you have to think the FL and PFA are going to have to step in. You can't have a load of players stuck in limbo and you can't just terminate their contracts. The players will have to be moved over to Ltd, the issue will be what SISU want for that and what they will do if they don't get it.
SkyBlue_Bear83
Well-Known Member
Possibly but we don't know the terms of the offer, this offer may only be available if the club agree to a new rent and playing at the Ricoh beyond the 1 year. If the plan to still build a new stadium was in place the offer may not be.
Sort of like these great new deals for TV/mobile deals where they offer you 6 months free but you have to sign up to a 24 month contract at £50/month for the remaining 18
Sky Blue Kid
Well-Known Member
First point...£500k Escrow...please read carefully!
ACL: ACL... There is a legal requirement for an escrow account, which in essence is a rent deposit deed, agreed in 2004 by the then owners of CCFC and ACL, with funds not provided by CCFC. The deed is meant to cover any failure of the tenant, e.g. CCFC to pay their rent. It is worth reiterating the guarantee or escrow funds, were never deposited by the then owners of CCFC or SISU when they acquired CCFC. However ACL proposed as part of its 29 January 2013 agreement to reduce this amount to £200k, therefore writing off £313,000, this was conditional on agreeing the HOTs of the aforementioned date
CCFC: CCFC/SISU Answer given but cannot be published as deemed by CCFC to be Sub Judice
second point...ACL pushed for Administration(Which they were legally entitled to do) but were beaten to it by er, um, ahh, oh yes! SISU. Thus meaning SISU used money that wasn't theirs!:facepalm:
dongonzalos
Well-Known Member
Yep they have to make the decision who is the football club.
At the moment they are hoping (particularly the administrator) that someone buys Ltd. be it SISU or a another. either way the sdministrator walks away with his half a million. if it is A.another they are left to battle it out in court with SISU over which entity is the football club.
It is wrong the FL jointly with the administrator should have made the decision. The administrator should not be allowed to sell a lucky dip. The FL should not be staying quite watching how it pans out.
Hopefully this will force a decision.
Broken Hearted Sky Blue
Well-Known Member
Love the analogy you might also add while the drunk and stoned wankers were staggering in the road with no idea where they were
oldskyblue58
CCFC Finance Director
On the players front ............. TF made a big thing about there being loads of players around with no club, that it would be easy to pick up players because it is a buyers market. So ACL have a ground no players, if TF is right how hard is it to pick up a squad to play at the Ricoh to play for CCFC Ltd? Also plenty of managers around
the biggest problem is financing it............
Not saying this would ever happen or should ever happen but there are options.......
the biggest problem is financing it............
Not saying this would ever happen or should ever happen but there are options.......
torchomatic
Well-Known Member
"Not ask for money back"? They've done alright to the tune of £7M since we moved in. Not bad, eh?
D
Ddccfc
Guest
There is no logical reason why CCFC would remain in administration beyond this month. All SISU have to do is write off some of the debt to themselves to regain control.
I don't understand how anyone can be hoodwinked by this obvious PR stunt from ACL. The emptiest of empty gestures.
bigfatronssba
Well-Known Member
<p>
The best thing that could happen is for ccfc to stay in admin. It would scupper fishers plans to move & destroy the club.
The best thing that could happen is for ccfc to stay in admin. It would scupper fishers plans to move & destroy the club.
@richh87
Member
Oh I seeeee! They've already been paid back. I didn't realise the stadium cost only 7mil to build.
Thanks for enlightening me.
J
Jack Griffin
Guest
But you have got to admit it is a clever move.
Like SISU's gestures aren't entirely similar & full of nonsense!
If it was that simple there wouldn't be all these extensions to deadlines.
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Broken Hearted Sky Blue
Well-Known Member
Of course the other the other 50,60 or whatever the latest figure is is down to them as well fucking grow up you stupid c**t
D
Ddccfc
Guest
Precisely the opposite in fact.
If the club remains in admin there is no chance of Holdings / ACL agreeing a deal because ACL will not negotiate directly with Holdings. At the moment CCFC LTD / the administrator is the only party ACL will tak to. LTD has no players, manager etc. It is not a club and would not be granted the golden share in its current state.
If the club is united and taken out of admin by SISU a deal could be struck with ACL as they would then have to recognise SISU as owners again.
At the moment Holdings / SISU is running the club and hold all the cards as they are in the best position to field a team. Despite ACL's PR spin to the contrary.
Uniting the club as quickly as possible provides the best opportunity to negotiate a new Ricoh deal.
rupert_bear
Well-Known Member
We not in a transfer embargo because we are in administration we in an embargoe because our accounts have not been submitted on time by our owners (sisu), they can rectify that tomorrow by submitting the accounts which i am certain t heard Fisher say last night were ready to go. Clubs in administration can and do sign players. How many did Pompey sign last year alone ?
Complete meltdown.
rupert_bear
Well-Known Member
I sorry mate but where do you get your information from ? Paul Appleton the administrator is running the football club, Fisher is ceo of Holdings, that is not the football club. You will find as i suspect if we kick-off August the 3rd still in administration it will be Appleton and Appleton alone who the football league deal with.
SkyBlueBlood
Member
I read this as stating that CCFC can play for free whilst in administration!
To enable the Football Club to fulfil its commitments under Football League Regulations, and to provide stability whilst Coventry City Football Club Limited, which owns the League Share, remains in Administration
To enable the Football Club to fulfil its commitments under Football League Regulations, and to provide stability whilst Coventry City Football Club Limited, which owns the League Share, remains in Administration
We are under an embargo because of both late accounts and administration - we have to submit the accounts and come out of administration.
League allowed Portsmouth to sign players so that they had the minimum squad of 20 players.
We can sell / release players.
chiefdave
Well-Known Member
don't see how we can submit accounts confirming its an ongoing business whilst in administration?
Pomepy got round the rules as there's a minimum squad size, they loaned out the kids and refused to play them so they didn't count in their squad size. I think the minimum is 20 so until we drop below that we won't be signing anyone.
I think this is rather clever of ACL and perfectly timed, i.e. after indicative and before final bids.
At this time, nobody can be certain how long administration will last and this offer does provide certainty of a ground where the club can, at least, start the season. It would be a foolish bid that did not factor in the possibility that the club might still be in administration at the beginning of the season and, thanks to this offer, playing at the Ricoh. Any bid that proposes to move the club, to an uncertain venue and at an uncertain date, because "the club is locked out of the Ricoh" would look even more foolish.
At this time, nobody can be certain how long administration will last and this offer does provide certainty of a ground where the club can, at least, start the season. It would be a foolish bid that did not factor in the possibility that the club might still be in administration at the beginning of the season and, thanks to this offer, playing at the Ricoh. Any bid that proposes to move the club, to an uncertain venue and at an uncertain date, because "the club is locked out of the Ricoh" would look even more foolish.
Senior Vick from Alicante
Well-Known Member
If Ltd is the football club, would this not mean that any player currently being paid by Holdings could walk away as their contracts would be invalid? Just all move across in one go.
SkyBlueSwiss
New Member
Please allow me to repeat my post from the other thread about ACL bidding as it is even more appropriate to what is being said on this thread:
Oh God!
This is excruciatingly ironic on so many levels.
The anti ACL/CCC brigade are wetting their pants at the thought of ACL becoming owners. Talk about showing their bias!
And now ACL have announced that CCFC can play free of rent next season at the Ricoh, which is proof positive that the auditors were totally correct when signing off on the accounts that ACL can quite happily survive without a football club paying rent. What do the "ACL cannot possibly survive without a football club paying over-the-top rent" doomsayers have to say now?
Add to that their "SISU is the only game in town" stupidity, and the situation of some of the posters on here becomes laughable.
Oh God!
This is excruciatingly ironic on so many levels.
The anti ACL/CCC brigade are wetting their pants at the thought of ACL becoming owners. Talk about showing their bias!
And now ACL have announced that CCFC can play free of rent next season at the Ricoh, which is proof positive that the auditors were totally correct when signing off on the accounts that ACL can quite happily survive without a football club paying rent. What do the "ACL cannot possibly survive without a football club paying over-the-top rent" doomsayers have to say now?
Add to that their "SISU is the only game in town" stupidity, and the situation of some of the posters on here becomes laughable.
SkyBlueBlood
Member
If we stay in admin for the start of this season that would be another 15 points deducted. Not so sure that is the way forward.
Cranfield Sky Blue
Well-Known Member
SISU foolish???? Never!!
I know exactly what the escrow was for, how it came about and where the momey came from. Point was it was there and they were able to draw on it - and the amount was greater than the proposed new rent deal. Quite an elementary point I was making I thought.
And please don't argue that ACL pushing for administration constituted them allowing SISU to get away with it, which was your original point.
rupert_bear
Well-Known Member
I believe the accounts adrift are last years accounts, so they should be able to submit them, nothing to do with administration. And you are correct Portsmouth were allowed to sign enough players to form a squad. I might be wrong but all their signings were free agents not transfers so at this time of the year there is a huge pool available.
rupert_bear
Well-Known Member
Where did you get that tripe from ?
JackTaylor
New Member
i think you will find that if we start 2014/15 season in administration we would incur a 10pt penalty and if we come out of admin with no CVA we would incur a 15pt penalty.
The Prefect
Active Member
I think ACL have been very cleaver.
Since CCFC Ltd went into administration, SISU have maintained that Holdings IS the football club. Technically this offer is not available to SISU as they clearly state that Holdings is the club. It would be difficult for SISU to take CCFC Ltd out of administration and then claim it is the football club and therefore able to benefit from this offer.
IMHO the wording indicates that the 'rent free' season applies to anybody but SISU.
Since CCFC Ltd went into administration, SISU have maintained that Holdings IS the football club. Technically this offer is not available to SISU as they clearly state that Holdings is the club. It would be difficult for SISU to take CCFC Ltd out of administration and then claim it is the football club and therefore able to benefit from this offer.
IMHO the wording indicates that the 'rent free' season applies to anybody but SISU.
You can repeat it if you want, it's still nonsense.
ACL cannot survive without the club, hence this desperate move.
Do you seriously think compass have not been leaning on ACL to do something? Their contract was worth millions. Do you think they were happy at the prospect on losing all that match day revenue (corporate hospitality included)?
Do you not think ACL are keen to retain car parking revenues?
Rental or not, ACL still benefit financially (both directly and indirectly) from the club playing there, and to suggest otherwise is bilge.
Brighton Sky Blue
Well-Known Member
There is no fresh penalty unless we come out of administration without a CVA.
Sky Blue Kid
Well-Known Member
Think you'll find CCFC were in transfer embargo a long time before We went into Administration!
SkyblueBazza
Well-Known Member
That is simply a measure of the delicacy. Holdings STILL maintain they are in control - CCFC Ltd are NOT the club...so TF, ACL & administrator will tread & choose their words very carefully...so more much more carefully than to date!
rupert_bear
Well-Known Member
15.20, 25 and 30 point deductions which we have seen over the years are for financial offences through the various clubs, anything to do with administration carries 10 points. We have had 10 and could get another 10 if things aren't done correctly when exiting administration. The FL do state a club cannot be in administration more than 12 months
