skyblueman
New Member
IMO I get the feeling from this that Fisher's statements last week were the 'straw' that broke the ACL camels back
Free Radio report a Statutory Demand issued to CCFC (8 Viewers)
- Thread starter covmartin
- Start date
Sky Blues
Active Member
One more question I have regards this line in the CET article: "The statutory demand covers the £1.1 million owed by CCFC to ACL in rent arrears of a total £1.6 million owed by the club."
I'm guessing the difference between £1.6million and £1.1million is the escrow account? If so, will ACL be happy to run with CCFC as paying tenants in the long-term without that being refilled? Or is it a case of one step at a time and a suspicion that asking for the full £1.6million now might be more likely to tip the club's owners towards declaring the club insolvent?
I'm guessing the difference between £1.6million and £1.1million is the escrow account? If so, will ACL be happy to run with CCFC as paying tenants in the long-term without that being refilled? Or is it a case of one step at a time and a suspicion that asking for the full £1.6million now might be more likely to tip the club's owners towards declaring the club insolvent?
ashbyjan
Well-Known Member
At the Sky Blue Trust meeting on Monday it was announced that we would be starting a Fighting Fund in case of administration/liquidation etc. This fund is not there to raise money to buy the club or any shares but is designed to raise money to cover costs such a solicitors fees, accountants fees etc that will need to be covered from day one of any attempt to rescue the club. Donations can now be given directly on the Trust website www.skybluetrust.co.uk
Hopefully SISU will do a deal with ACL but these are dark times and there can be no better time for all Coventry fans to unite and join the Trust - the dark day may be closer than any of us imagined and the Trust will have a part to play in the clubs future. There is strength in numbers - may well be the best £1 you ever spend.
Hopefully SISU will do a deal with ACL but these are dark times and there can be no better time for all Coventry fans to unite and join the Trust - the dark day may be closer than any of us imagined and the Trust will have a part to play in the clubs future. There is strength in numbers - may well be the best £1 you ever spend.
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Sky Blues
Active Member
Are you saying ACL are after the full amount?
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slyblue57
Well-Known Member
Can nt honestly see why people are getting so worked up about this "threat" from ACL etc.
We ve been going into administration / liquidation etc for about 3 years now according to
OSB and others.(No disrespect to OSB) There is no chance that Coventry City FC will be
locked out of the Ricoh or put into administration by ACL / Higgs Trust / Council. They would
be a laughing stock, having an arena with a fantastic football pitch / stadium, destroying the local football
team. Sisu are playing hardball in hard times. They are good at these games, not good at football management.
I will await the 21 days with no worries whatsoever. Some agreement will be reached.
Pusb
We ve been going into administration / liquidation etc for about 3 years now according to
OSB and others.(No disrespect to OSB) There is no chance that Coventry City FC will be
locked out of the Ricoh or put into administration by ACL / Higgs Trust / Council. They would
be a laughing stock, having an arena with a fantastic football pitch / stadium, destroying the local football
team. Sisu are playing hardball in hard times. They are good at these games, not good at football management.
I will await the 21 days with no worries whatsoever. Some agreement will be reached.
Pusb
skyblueman
New Member
I agree this on it's own isn't enough to end game it for SISU - there will be a deal and money will be paid
Sky Blues
Active Member
Don't you think that having a client repeatedly not paying their rent risks making them a laughing stock?
mattylad
Member
most business don't incur the unrecoverable £1500/£2000 costs of issuing a stat demand unless you are going to go through with the bankruptcy petition at the 21 day point.
Covstu
Well-Known Member
This is on sky sports news also, really no shock. They must have thought that this was the only likely option, surely SISU must have knew this was going to happen! If not they obviously thought they could either try to bully ACL to give in or they were that arrogant they thought they would get away with it!!
mattylad
Member
by law they would have to go after the full amount otherwise a judgement could be defended based on that fact.
Sky Blues
Active Member
I was asking Jan why he was saying £1.6million when the CET article and ACL CEO on CWR just now said they are seeking £1.1million. I have queried earlier in this thread whether the difference is the escrow.
sw88
Chief Commentator!
.......and let the court decide. And when ACL continue to be stupborn and refuse to pay, the court will evict them.....
ccfclinney
Well-Known Member
CCFCS REPLY :
We are disappointed by ACL’s actions today to issue a statutory demand to Coventry City Football Club rather than, as we had requested, sitting down with us to negotiate a level of rent which the Club can afford and which is in line with the rent paid by other clubs.
For reference, ACL has been charging CCFC an annual rent of £1.28 million, which we understand is the highest in both League One and the Championship.
We understand that the average annual rent paid by League One clubs (excluding CCFC) is less than £170,000 and that the average in the Championship is less than £290,000. All other clubs which rent their stadia get full access to 100% of match day food, beverage and car parking revenues, unlike CCFC.
The Club’s objective in requesting these negotiations with ACL has been only to bring about a state of commercial normality, where CCFC pays the same level of rent and has access to the same type of ancillary revenues as the other football clubs with which it competes. It is unsustainable for CCFC to be put at a severe financial disadvantage to its peers.
While we have been seeking to normalise the rent, we have continued to pay match day costs to ensure that ACL is not left out-of-pocket. These costs amount to over £250,000 per season, much more than the average rent paid by League One clubs.
In addition to defraying ACL’s match day costs, the Club has been subsidising ACL’s general overheads ever since the Sky Blues started playing at the Ricoh Arena, amounting to many millions of pounds over seven years.
The Club remains committed to the city and people of Coventry.
However, its viability depends on it finding an alternative home ground where it can afford to play.
We are disappointed by ACL’s actions today to issue a statutory demand to Coventry City Football Club rather than, as we had requested, sitting down with us to negotiate a level of rent which the Club can afford and which is in line with the rent paid by other clubs.
For reference, ACL has been charging CCFC an annual rent of £1.28 million, which we understand is the highest in both League One and the Championship.
We understand that the average annual rent paid by League One clubs (excluding CCFC) is less than £170,000 and that the average in the Championship is less than £290,000. All other clubs which rent their stadia get full access to 100% of match day food, beverage and car parking revenues, unlike CCFC.
The Club’s objective in requesting these negotiations with ACL has been only to bring about a state of commercial normality, where CCFC pays the same level of rent and has access to the same type of ancillary revenues as the other football clubs with which it competes. It is unsustainable for CCFC to be put at a severe financial disadvantage to its peers.
While we have been seeking to normalise the rent, we have continued to pay match day costs to ensure that ACL is not left out-of-pocket. These costs amount to over £250,000 per season, much more than the average rent paid by League One clubs.
In addition to defraying ACL’s match day costs, the Club has been subsidising ACL’s general overheads ever since the Sky Blues started playing at the Ricoh Arena, amounting to many millions of pounds over seven years.
The Club remains committed to the city and people of Coventry.
However, its viability depends on it finding an alternative home ground where it can afford to play.
Sky Blues
Active Member
Full club statement now online: http://www.ccfc.co.uk/news/article/club-statement-051212-527868.aspx
"We are disappointed by ACL’s actions today to issue a statutory demand to Coventry City Football Club rather than, as we had requested, sitting down with us to negotiate a level of rent which the Club can afford and which is in line with the rent paid by other clubs.
For reference, ACL has been charging CCFC an annual rent of £1.28 million, which we understand is the highest in both League One and the Championship.
We understand that the average annual rent paid by League One clubs (excluding CCFC) is less than £170,000 and that the average in the Championship is less than £290,000. All other clubs which rent their stadia get full access to 100% of match day food, beverage and car parking revenues, unlike CCFC.
The Club’s objective in requesting these negotiations with ACL has been only to bring about a state of commercial normality, where CCFC pays the same level of rent and has access to the same type of ancillary revenues as the other football clubs with which it competes. It is unsustainable for CCFC to be put at a severe financial disadvantage to its peers.
While we have been seeking to normalise the rent, we have continued to pay match day costs to ensure that ACL is not left out-of-pocket. These costs amount to over £250,000 per season, much more than the average rent paid by League One clubs.
In addition to defraying ACL’s match day costs, the Club has been subsidising ACL’s general overheads ever since the Sky Blues started playing at the Ricoh Arena, amounting to many millions of pounds over seven years.
The Club remains committed to the city and people of Coventry.
However, its viability depends on it finding an alternative home ground where it can afford to play."
"We are disappointed by ACL’s actions today to issue a statutory demand to Coventry City Football Club rather than, as we had requested, sitting down with us to negotiate a level of rent which the Club can afford and which is in line with the rent paid by other clubs.
For reference, ACL has been charging CCFC an annual rent of £1.28 million, which we understand is the highest in both League One and the Championship.
We understand that the average annual rent paid by League One clubs (excluding CCFC) is less than £170,000 and that the average in the Championship is less than £290,000. All other clubs which rent their stadia get full access to 100% of match day food, beverage and car parking revenues, unlike CCFC.
The Club’s objective in requesting these negotiations with ACL has been only to bring about a state of commercial normality, where CCFC pays the same level of rent and has access to the same type of ancillary revenues as the other football clubs with which it competes. It is unsustainable for CCFC to be put at a severe financial disadvantage to its peers.
While we have been seeking to normalise the rent, we have continued to pay match day costs to ensure that ACL is not left out-of-pocket. These costs amount to over £250,000 per season, much more than the average rent paid by League One clubs.
In addition to defraying ACL’s match day costs, the Club has been subsidising ACL’s general overheads ever since the Sky Blues started playing at the Ricoh Arena, amounting to many millions of pounds over seven years.
The Club remains committed to the city and people of Coventry.
However, its viability depends on it finding an alternative home ground where it can afford to play."
ccfclinney
Well-Known Member
Can you really blame the owners for trying to find an alternative ground to play at when they are paying 9x as much as other league one clubs !
Id much rather have the club playing in a smaller ground that we can fill, and the club make money from the food etc. and buy players like mcgoldrick to make a serious case for promotion,
This rent is unsustainable to a lot of clubs and ccfc is no different. OUR OWN COUNCIL is crippling OUR CLUB!
Is it fair to give CCFC so much stick ?
PUSB
LETS ALL SING TOGETHER
Id much rather have the club playing in a smaller ground that we can fill, and the club make money from the food etc. and buy players like mcgoldrick to make a serious case for promotion,
This rent is unsustainable to a lot of clubs and ccfc is no different. OUR OWN COUNCIL is crippling OUR CLUB!
Is it fair to give CCFC so much stick ?
PUSB
LETS ALL SING TOGETHER
SkyBlueCharlie
Well-Known Member
Think you've got your knickers in a twist there old boy. it's SISU refusing to pay not ACL.
CarpyCov84
New Member
Fuck coventry city council !!!!
ACL have stated that they were in talks with SISU until Monday so it sounds like they asked for a certain amount and SISU have said no.I agree we shouldnt pay this much for rent without any chance of money apart from ticket sales.but if you were owed million pound you'd want it back
deanocity3
New Member
The clown from Sisu has been found
skybluesteve76
New Member
I think they might not pay but instead find a new ground?
ccfclinney
Well-Known Member
Why fuck sisu ?
I dont think any owners in league one or the championship would pay this rent its massively over priced. and they dont even get money for food, drinks, car park
council being greedy
FUCK THE COUNCIL
Sky Blues
Active Member
Dear CCFC,
Regarding paragraph 2 of your statement:
Who agreed that rent and who knew about it when purchasing the club?
Why is the club renting a stadium rather than owning its own?
Why does the club not get 100% of match day food, beverage and car parking revenues?
I think the people of Coventry know the answers to more of those questions than you give them credit for.
Yours,
Sky Blues
Regarding paragraph 2 of your statement:
Who agreed that rent and who knew about it when purchasing the club?
Why is the club renting a stadium rather than owning its own?
Why does the club not get 100% of match day food, beverage and car parking revenues?
I think the people of Coventry know the answers to more of those questions than you give them credit for.
Yours,
Sky Blues