We must drive SISU out of the club - End this nightmare now! (4 Viewers)
- Thread starter OyJimmy
- Start date
Nick
Administrator
Very True...
I just wish there was a way to speak to them and force them to answer questions...
Coventry La La La
New Member
Capture them and use the torture method "water boarding" should get some answers then.
cov_russell
Facebook User
Drive SISU out = drive Coventry into administration
im-confused
Member
Not going to make a difference what we do or say. They put money into the club and they're not leaving till they get it back.
TheRoyalScam
Well-Known Member
Can't believe there won't be some sort of protest tomorrow - am I the only one simmering with anger after listening to Brody and his 'mis-communication' tonight?
:blue::blue::blue::blue:....should have some of these banners.
:blue::blue::blue::blue:....should have some of these banners.
edgy
Well-Known Member
Nope TRS. Nearly everyone you speak too is seriously pissed off. How anyone can think these shyster cowboys are good for us, is beyond me.
TheRoyalScam
Well-Known Member
Might be the best thing - as Ray said tonight we've paid off £20m to the bank, £6.5m to HMRC, AND £15m to other creditors while he was chairman.
cov_russell
Facebook User
Without them there would be no Coventry City FC. Surely you can see how they have done some good?
TheRoyalScam
Well-Known Member
Yes, we would have gone into administration, league 1 etc, but that would have been better than this sorry shower.
10 point deduction, probable relegation.... think I'd be prepared to accept that! That's how much I think SISU are killing our club.
Look at it another way, if SISU stay they will need to put us into admin when season ticket sales completely evaporate. The fan base is in big trouble right now. I'm struggling to bring myself to buy a season ticket. The 5 people I sit next to are refusing to renew. My OAP Dad won't renew and my cousin is thinking twice. So far every season ticket holder I know is refusing / or considering refusing to renew.
cov_russell
Facebook User
If we had gone into administration then we would have been relegated the season SISU took over. Even if the creditors agreed to accept just 10% of what they are owed, which is very optimistic, then it would still cost around £3million to clear the debts of a league one club, who would probably have an attendance under 10000 and have no assets. There would be no logical reason to invest.
This would have been a much worse situation that the clubs you mentioned were in.
Cobi Jones's Dreads
Well-Known Member
I love that quote the more i hear it the more i laugh utter nonsense! :blue:
cov_russell
Facebook User
The problem comes when we look for someone to take us out of administration. SISU are notoriously tough where bargaining a deal as a creditor of a failed business venture. With the money they have ploughed in they would want to see some decent return. It is obviously clear that no one wants to invest in the club at the moment as they are finding it so hard to attract investors. So why would anyone want to invest when they would also have to pay of creditors aswel.
Great_Expectations
Well-Known Member
They did do some good as they originally saved us from relegation, somewhat ironic they are now driving us back towards the very position they saved us from.
Administration has got to be a worse case scenario, relegation could be positive in that perhaps we find our level and start winning games, have an exciting season and potentially bring back some supporters. Alternatively relegation to league one could see us in the same league position in a years time - but in an even worse, less reputable league.
Our hopes lie in the slim chances that Hoffman/Ranson find investment and return to remove SISU.
Administration has got to be a worse case scenario, relegation could be positive in that perhaps we find our level and start winning games, have an exciting season and potentially bring back some supporters. Alternatively relegation to league one could see us in the same league position in a years time - but in an even worse, less reputable league.
Our hopes lie in the slim chances that Hoffman/Ranson find investment and return to remove SISU.
Do you seriously think ACL would have let us go out of existence? That would kill the Ricoh too and make the council deeply unpopular. If no one wants the club without the stadium, then guess what happens next. Basically the council either have to buy us or sell the stadium. We just need to force the issue.
cov_russell
Facebook User
I seriously think that ACL would not have the resources to keep us afloat for more that a few months. You're right that the council would be very unpopular and that a white elephant would be left in the city. There is no way to force it, if we were dealing with an owner with a passion for football then they might listen to protests. However, I would imagine the SISU owners are probably in their weekend homes in the south of france and wont even hear about a protest
.
Nonleagueherewecome
Well-Known Member
If what Ray said is correct, we are virtually debt free apart from debts to our owners. "We don't even have an overdraft facility". Going into adminsitration would mean they have to write off their investment, so they won't do that now. Surely they'd have done so already rather than "invest" this week? They must see the Ricoh as a way of recouping some of that dosh. Unless they didn't invest in the way we thought...But if we're worried about paying creditors..if its just SISU, SCREW THEM!!! I don't mind them losing their dosh if it means someone else (Hoff?) can pick us up for a song via administration!
cov_russell
Facebook User
It would be great if Hoff could find someone willing to invest more that SISU have. It would also be great if SISU haven't made it possible to reclaim any of their investment, should the club go into administration. However I think there is more chance of pigs flying.
*Apologies for the use of an awful adynaton*
*Apologies for the use of an awful adynaton*
Nonleagueherewecome
Well-Known Member
Well they'd be the principle creditor, but RR said other debts were less than 1million ( minus Aidys pay-off, which everyone at the club seems to have forgotten about! )
Creditors rarely get anywhere near what they are owed if a company goes into administration, and in football "football creditors" and tax get special priority status. Dulieu claims he persuded them to stay as a way of "having a shot at recouping some of their initial investment" (a quote I can feel myself re-typing a lot herein.. ) which implies that they would alternatively have liquidated the club there and then. There are things in place to stop owners doing that to football clubs though, I do believe.
One things for sure, there is plenty more going on behind the scenes than we know.
Creditors rarely get anywhere near what they are owed if a company goes into administration, and in football "football creditors" and tax get special priority status. Dulieu claims he persuded them to stay as a way of "having a shot at recouping some of their initial investment" (a quote I can feel myself re-typing a lot herein.. ) which implies that they would alternatively have liquidated the club there and then. There are things in place to stop owners doing that to football clubs though, I do believe.
One things for sure, there is plenty more going on behind the scenes than we know.
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TheRoyalScam
Well-Known Member
If only they were forced to pass a 'fit and proper' test back in 2007, we wouldn't be in this sorry mess. As it stands SISU have no chance of acquiring the Ricoh - the council don't even know who the shareholders are!:blue:
SkybluePelsall
New Member
So we owe SISU 30m or so. Reading all this tonight if that was 35-40m ish Fox and Dann would have stayed and Henderson, Cork and Carroll would have signed long term, plus god knows who else. Westwood in goal, then Fox Turner Dann and Cranie across the back, ?left mid Mcindoe/Mcsheffery/A N Other, Cork Gunnarson Henderson midfield and Carroll with Best/Morrison/Eastwood/King up front and a decent manager we'd be premier league and they'd have their money back plus a whole lot more by now. CCFC - feckin unbelievable incompetent management for most of my life, we even turned Keegan down because he was too small. And so it goes, on and on, and on. Never mind, my son is 13 months old and it won't be too long before he takes the trip down the M6 from sunny Walsall to begin the story of disappointment that comes with being in the SBA.