New news? RE Golden Share. (1 Viewer)

[Greggs]

The Football League today publicly clarified its 'golden share' rested with Coventry City Football Club Limited before it went into administration.

In a rare statement, it also responded to claims the administrator was waiting on more information from the League while his long investigations continue.

Takeover hopefuls had long called on the League to publicly accept the golden share giving clubs the right to play was with CCFC Ltd - the company in administration - and not Coventry City Football Club (Holdings) Limited - which continues to operate the club and claims to have a right to the share.

The Football League's statement says: “The Football League has provided detailed information to the administrator to assist him with his ongoing investigation into the ownership structure of the club.

"Nevertheless it is our view that the club’s League share at the point of administration was owned by Coventry City FC Limited, hence the ten points deducted during the 2012/13 season.

“Any application to play matches at an alternative venue will be considered by the League Board in accordance with Football League regulations.”

The statement also clarifies that the ten points were deducted because it was CCFC Ltd which had the golden share.

There had been some confusion about the reason for the decision - because Football League regulations do enable a ten-point deduction if any entity (company) of the club suffers an "insolvency event".

 

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[Nick]

PGSM said it first! However his email didn't actually say the share was with ltd.

 

[Sbsam]

Boom! Now let's keep getting them emails into them and keep the pressure on them to not allow sisu to regain control

 

[Voice_of_Reason]

Boom! Now let's keep getting them emails into them and keep the pressure on them to not allow sisu to regain control

Yes -- they are NOT spam but from concerned supporters. I too have had the "standard" response from the Football League and have replied as follows, suggest you do the same ?

Dear Sirs

Thank you for your response to my enquiry, the contents of which I note.

When considering any request to play fixtures elsewhere please consider also that the Ricoh Arena doors are still open for the club to play it's fixtures at that venue, not away from it. The owners of the Ricoh have publicly made this known to both the Administrator and SISU.

Thank you

xxxx Name "

 

[psgm1]

This is what I call doing something! Not just standing outside a propagandafest whilst taking dog for a walk. Myself and others realise talks meetings with sisu are pointless. You take them out of equation as TF claims to have done with ACL!

I'm sure getting on news is great for the ego, but does sweet FA!

This week must surely be utterly humiliating for the clique. They called their members to arms and the board plus 8 & the obligatory dog showed up!

All they do is publicise themselves, break their own code of conduct, and validate Sisu! This achieves nothing except prolonging the agony. You had high ideals when you started. Now you are reduced trying hap silence critics and whinge about CAPITAL LETTERS!

What a waste of an opportunity

 

[lifelongcityfan]

This is what I call doing something! Not just standing outside a propagandafest whilst taking dog for a walk. Myself and others realise talks meetings with sisu are pointless. You take them out of equation as TF claims to have done with ACL!

I'm sure getting on news is great for the ego, but does sweet FA!

This week must surely be utterly humiliating for the clique. They called their members to arms and the board plus 8 & the obligatory dog showed up!

All they do is publicise themselves, break their own code of conduct, and validate Sisu! This achieves nothing except prolonging the agony. You had high ideals when you started. Now you are reduced trying hap silence critics and whinge about CAPITAL LETTERS!

What a waste of an opportunity

very predictable---ywan. i think you have a bigger ego than anyone

 

[the rumpo kid]

how long has it taken them to come out and say what everyone has known from the off

 

[Colin1883]

Yes they said it 'was' with ccfcltd... BUT it doesn't necessarily mean they will they will return it ccfcltd

 

[Covcraig@bury]

PGSM said it first! However his email didn't actually say the share was with ltd.

pgsm, looks like no credit to you. :wave:

maybe if you was a member of the "Trust" the bunting would be out and a victory parade t boot.

 

[Broken Hearted Sky Blue]

PGSM said it first! However his email didn't actually say the share was with ltd.

Always wanted to know how he got a reply when lots of us emailed at the same time and only got a reply today any kind of reply and his happened to be on the same day as administrator very quiet on here lately though:thinking about:

 

[SkyBlueHomer]

This is what I call doing something! Not just standing outside a propagandafest whilst taking dog for a walk. Myself and others realise talks meetings with sisu are pointless. You take them out of equation as TF claims to have done with ACL!

I'm sure getting on news is great for the ego, but does sweet FA!

This week must surely be utterly humiliating for the clique. They called their members to arms and the board plus 8 & the obligatory dog showed up!

All they do is publicise themselves, break their own code of conduct, and validate Sisu! This achieves nothing except prolonging the agony. You had high ideals when you started. Now you are reduced trying hap silence critics and whinge about CAPITAL LETTERS!

What a waste of an opportunity

Maybe the meeting would not have been pointless if you had been invited, PGSM1 the self proclaimed saviour of the Sky Blues.
Do I detected a hint of jealousy, loose the attitude

 

[Broken Hearted Sky Blue]

This is what I call doing something! Not just standing outside a propagandafest whilst taking dog for a walk. Myself and others realise talks meetings with sisu are pointless. You take them out of equation as TF claims to have done with ACL!

I'm sure getting on news is great for the ego, but does sweet FA!

This week must surely be utterly humiliating for the clique. They called their members to arms and the board plus 8 & the obligatory dog showed up!

All they do is publicise themselves, break their own code of conduct, and validate Sisu! This achieves nothing except prolonging the agony. You had high ideals when you started. Now you are reduced trying hap silence critics and whinge about CAPITAL LETTERS!

What a waste of an opportunity

You're back didnt see this. By the way the person who had the most airtime on both BBC and ITV is not a member of the trust but got off his arse like he did the day before' couldnt last night but he'll be there again. Obviously because he mixed with trust members I will have to check if hes grown another finger. I will advise him to follow the trusts principles and demand that he contacts the tv companies and demand royalties

 

[wingy]

The last line of the Article is telling as it Clarifies that the ten point deduction was raised on the fact that the share resided in LTD,where it could have been raised over any entity within the CLUB. Yet SISU did'nt challlenge that suggests Doubt/Weakness.

 

[Nick]

The last line of the Article is telling as it Clarifies that the ten point deduction was raised on the fact that the share resided in LTD,where it could have been raised over any entity within the CLUB. Yet SISU did'nt challlenge that suggests Doubt/Weakness.

I thought that at the time, if they were 100% they would have challenged it surely?

 

[chiefdave]

does this actually make things any clearer moving forward? it doesn't resolve the issue that holdings are staking a claim to the share does it or am I misreading it. what we need is the FL to say what they intend to do with the share, make a statement that says whoever purchases ltd will be issued with the share.

 

[Broken Hearted Sky Blue]

I thought that at the time, if they were 100% they would have challenged it surely?

The ten point deduction would have made no difference Nick on the face of it you would say yes its in Ltd you want the club put a bid in for Ltd job done. But then we have contradictive statements from some parties silence from others etc etc then what do we get uncertainty? bluff? I dont think this is over by a long way.

 

[SkyBlueScottie]

Risks whole thing has been a smokescreen. The share reverted back to the football league upon admin. The big issue is how the league allows the share to be in one company but players regs in an another. Whoever bus Ltd will still have to deal with wish to discuss players registrations unless the football league rules that whoever buys Ltd also gets the players.

 

[Jack Griffin]

I got a reply today.. they didn't really answer any of the points I raised, but then I never expected them to.

A Football League spokesman has today stated;

"The Football League has provided detailed information to the administrator to assist him with his ongoing investigation into the ownership structure of the club. Nevertheless it is our view that the club's League share at the point of administration was owned by Coventry City FC Limited, hence the 10 points deducted during the 2012/13 season.

"Any application to play matches at an alternative venue will be considered by the League Board in accordance with Football League regulations."

Information on the Owners and Directors Test can be found here: http://www.football-league.co.uk/page/FAQ/FAQsDetail/0,,10794~2428071,00.html

The League cannot provide any further comment at this time.

Kind regards

Andrea

Andrea Brown | Customer Services Manager
The Football League Limited
Edward VII Quay | Navigation Way | Preston | PR2 2YF.
T 0844 335 0183 | F 0844 826 5188
[email protected] | www.football-league.co.uk

 

[fernandopartridge]

does this actually make things any clearer moving forward? it doesn't resolve the issue that holdings are staking a claim to the share does it or am I misreading it. what we need is the FL to say what they intend to do with the share, make a statement that says whoever purchases ltd will be issued with the share.

Even that is fairly irrelevant. If the share is with Ltd it's with Ltd, when SISU buys Ltd out of administration, they will get the golden share.

 

[wingy]

does this actually make things any clearer moving forward? it doesn't resolve the issue that holdings are staking a claim to the share does it or am I misreading it. what we need is the FL to say what they intend to do with the share, make a statement that says whoever purchases ltd will be issued with the share.

I'd say its evidence we're inching towards that confrontation.
The FL have now twice ventured further Information .Everything is about timing I think. If they've put enough out there to embolden the bidders, assuming SISU are Bluffing ,they should get a decent offer and if they're not but get outbid the battle will come, after and not before the FL issue the Share.

 

[SkyblueBri]

I got the same standard reply and noted that if you go to the League link on Fit and Proper Owners, it is a Self Certification no wonder clubs like us and Pompey end up with such duff owners.