Million dollar question (5 Viewers)

[dongonzalos]

COVENTRY City chief executive Tim Fisher has warned the club could be heading for insolvency.

It comes after Coventry City Football Club’s owners Sisu failed to sign off its accounts.

Mr Fisher said today that talks have been held with the club’s insolvency practitioner, and lawyers.


So if SISU make CCFC insolvent

Can someone pick up the club for nothing.

Or do we have a stadium and a city with a potential 30,000 k fan base. Sitting there empty.

Will a new CCFC have to do a Rangers?





Read More http://www.coventrytelegraph.net/coventry-city-fc/coventry-city-fc-news/2013/03/01/breaking-coventry-city-chief-warns-club-could-be-heading-for-insolvency-92746-32906059/#ixzz2ML0EXXOK

 

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[grego_gee]

No

imp:

 

[dongonzalos]

No

imp:

Yes........

 

[Regis87]

Don't know

 

[georgehudson]

i believe the mythical Seppala has said that unless she gets her way (entirely), she will liquidate the club,
this comes from a direct source within,
i thus propose the question,
as she is now hands on according to TF is she a fit and proper owner ?
show your face madam,
come and meet the fans of CCFC,
explain yourself

 

[Regis87]

She will never show her face as she is a haggard old deformed witch that lives in a spooky old castle . Just like the ugly old scroat in Merlin !

 

[rupert_bear]

I believe there is a time scale where a declared insolvent company or subsidery which is what ccfc are can be salvaged, i think 28 days, someone off the Sky Blue Trust may answer that as i know it has been discussed and i think something has been put in place to save the Coventry City name, which is what didn't happen at Glasgow Rangers hence the name loss. Good question though and needs some of the more knowledgable on here to answer.

 

[rupert_bear]

i believe the mythical Seppala has said that unless she gets her way (entirely), she will liquidate the club,
come and meet the fans of CCFC,
explain yourself

I think if she liquidated the club as threatened some supporters will go and meet her

 

[sky blue john]

She is going to need a big blender !!!

 

[theferret]

I think if she liquidated the club as threatened some supporters will go and meet her

Could you blame her? Why should she and others continue to throw their money at a loss making enterprise, especially when they meet opposition at every turn.

SISU have a lot to answer for, and have made many mistakes, that much is clear. It doesn't escape the fact that we are where we are, and if they are to turn it around they need some help and support. That isn't forthcoming, so as far as I can see it, that leaves them with no other option. Unless the position of ACL changes very quickly they will liquidate the club (administration is not really an option). That means no more CCFC, and a messy few months while various factions fight to form a Phoenix club which I suspect will end up playing at conference level at best (if the clubs in that league vote to allow us in which is no guarantee).

 

[wingy]

She will never show her face as she is a haggard old deformed witch that lives in a spooky old castle . Just like the ugly old scroat in Merlin !

Surely you don't mean "This Ugly Old Scroat".......The smouldering Eva Green.........................Sorry to go off Topic Don!!:facepalm:

24 February 2011


Titles: Camelot
Characters: King Arthur

Camelot

 

[rupert_bear]

Don't think the no ccfc would happen. more like you ain't getting your £45million back. I'll refer you to a question on another thread with SISU's apparent 45million and 5 years of other income, gate receipts, transfer income , TV money plus other bits and pieces, where did that money go ?

 

[ampthill_sba]

She will never show her face as she is a haggard old deformed witch that lives in a spooky old castle . Just like the ugly old scroat in Merlin !

Surely not Morgana...she's soooo fit

 

[coundonskyblue]

<p>

Could you blame her? Why should she and others continue to throw their money at a loss making enterprise, especially when they meet opposition at every turn.</p>
<p>&nbsp;</p>
<p>SISU have a lot to answer for, and have made many mistakes, that much is clear. It doesn't escape the fact that we are where we are, and if they are to turn it around they need some help and support. That isn't forthcoming, so as far as I can see it, that leaves them with no other option. Unless the position of ACL changes very quickly they will liquidate the club (administration is not really an option). That means no more CCFC, and a messy few months while various factions fight to form a Phoenix club which I suspect will end up playing at conference level at best (if the clubs in that league vote to allow us in which is no guarantee).

Is that not exactly the reason why sisu should have asked acl for help rather than making demands in the style of a 2 year old?

Act with some humility and they would have had a lot more support.

 

[theferret]

<p>

Is that not exactly the reason why sisu should have asked acl for help rather than making demands in the style of a 2 year old?

Act with some humility and they would have had a lot more support.

You say that like you were present during the negotiations?

Both sides have embarrassed themselves with their press statements.

As for the discussions around the table, I have no idea if 'demands' were made. The only 'demand' I am aware of is the statutory demand instigated by ACL.

 

[dongonzalos]

i believe the mythical Seppala has said that unless she gets her way (entirely), she will liquidate the club,
this comes from a direct source within,
i thus propose the question,
as she is now hands on according to TF is she a fit and proper owner ?
show your face madam,
come and meet the fans of CCFC,
explain yourself

I would like to know what happens when a club is liquidated.

 

[torchomatic]

In our case, most Sky Blues Talk members will party like it's 1999.

I would like to know what happens when a club is liquidated.

 

[skybluejelly]

Could you blame her? Why should she and others continue to throw their money at a loss making enterprise, especially when they meet opposition at every turn.

SISU have a lot to answer for, and have made many mistakes, that much is clear. It doesn't escape the fact that we are where we are, and if they are to turn it around they need some help and support. That isn't forthcoming, so as far as I can see it, that leaves them with no other option. Unless the position of ACL changes very quickly they will liquidate the club (administration is not really an option). That means no more CCFC, and a messy few months while various factions fight to form a Phoenix club which I suspect will end up playing at conference level at best (if the clubs in that league vote to allow us in which is no guarantee).[/QUOTE

If we were the Phoenix club... Could we get Peter Kay to do the announcements on match days ... Just imagine ... Welcome to the Phoenix club them the theme tune

 

[Mary_Mungo_Midge]

You say that like you were present during the negotiations?

Both sides have embarrassed themselves with their press statements.

As for the discussions around the table, I have no idea if 'demands' were made. The only 'demand' I am aware of is the statutory demand instigated by ACL.

Really? Can you direct me to an ACL statement that's showed them in a bad light? Or which has been designed to defame the other party?

I can think of one that was borderline misleading: whereas I can think of ten times that number from Fisher

 

[torchomatic]

Wouldn't worry about that. ACL are really busy and don't need the Club anyway. There'll be plenty of wedding fares and Jehovah Witness events to attend. So it's not all bad news.

Or do we have a stadium and a city with a potential 30,000 k fan base. Sitting there empty.







Read More http://www.coventrytelegraph.net/co...-for-insolvency-92746-32906059/#ixzz2ML0EXXOK

 

[dongonzalos]

I think SISU prepared for this a couple of years ago by ensuring they had nothing if value that could be seized from them.
So they could make their threats seem plausible. Ie we have nothing to lose (except 45 million of their investors money) not to mention to the destruction if their hard built reputation as investment bankers. Which why personally I believe it is an empty threat.
The media it would get would mean the end of SISU as investment bankers.

However if it did happen. I would like to know what would actually happen. What would be our options.

Ie league rules financial rules.

Someone will be interested in negotiating their own deal with council and tapping into that stadium and the potential fan base.

However will they have start in the conference.
Can they be called CCFC etc....

 

[dongonzalos]

In our case, most Sky Blues Talk members will party like it's 1999.

Serious discussion please Torch

 

[Mary_Mungo_Midge]

In our case, most Sky Blues Talk members will party like it's 1999.

That's ridiculous. Only a handful have stated they would be prepared to allow the club to go to the wall as a mechanism to get rid of the current owners.

Nobody really wants to see, or would drive joy from the club folding. Your posts are getting more Grendelesque by the day. Shame

 

[torchomatic]

Yeah, I know. Look at some of the remarks from CJ and others.

Serious discussion please Torch

 

[theferret]

Really? Can you direct me to an ACL statement that's showed them in a bad light? Or which has been designed to defame the other party?

I can think of one that was borderline misleading: whereas I can think of ten times that number from Fisher

Your tiresome and unwavering support for a company that seems hellbent on putting our football club out of business (not to mention their biggest asset jeopardising their own existence in the process) is baffling in the extreme.

I could point to numerous examples of misleading statements, particularly in regard to the current interim arrangement with the club regarding match fees and the amount of money they make from it, but it would make no difference because you would just deny it and counter with the same tedious arguments you have been using to excuse their appalling actions over recent weeks.

ACL are not acting responsibly. If the club goes belly up, so will ACL. It is their biggest source of income (even without rent contributions). All other tenancy agreements from hotel to casino, and service contracts for catering would be negotiated downwards if the football club disappeared. And Ricoh would walk from the naming rights deal. ACL are so blinded by petty personal grudges and hamstrung by external political pressure (Mutton is a buffoon and it is a sad reflection on Coventry that a man of such limited ability has risen to the position of council leader) that they threaten to bring the house of cards down and take themselves with it. Idiots. And to think apparently intelligent people like yourself defend their ludicrous position.

I despair. When CCFC ceases to exist as a league club, I hope you all enjoy the celebration party.

 

[wingy]

Your tiresome and unwavering support for a company that seems hellbent on putting our football club out of business (not to mention their biggest asset jeopardising their own existence in the process) is baffling in the extreme.

I could point to numerous examples of misleading statements, particularly in regard to the current interim arrangement with the club regarding match fees and the amount of money they make from it, but it would make no difference because you would just deny it and counter with the same tedious arguments you have been using to excuse their appalling actions over recent weeks.

ACL are not acting responsibly. If the club goes belly up, so will ACL. It is their biggest source of income (even without rent contributions). All other tenancy agreements from hotel to casino, and service contracts for catering would be negotiated downwards if the football club disappeared. And Ricoh would walk from the naming rights deal. ACL are so blinded by petty personal grudges and hamstrung by external political pressure (Mutton is a buffoon and it is a sad reflection on Coventry that a man of such limited ability has risen to the position of council leader) that they threaten to bring the house of cards down and take themselves with it. Idiots. And to think apparently intelligent people like yourself defend their ludicrous position.

I despair. When CCFC ceases to exist as a league club, I hope you all enjoy the celebration party.

when that day arrives ,no more salary for you old fella.:facepalm:

 

[dongonzalos]

Yeah, I know. Look at some of the remarks from CJ and others.

If possible just want keep it away from that And see if anyone actually does know the facts

 

[Mary_Mungo_Midge]

Your tiresome and unwavering support for a company that seems hellbent on putting our football club out of business (not to mention their biggest asset jeopardising their own existence in the process) is baffling in the extreme.

I could point to numerous examples of misleading statements, particularly in regard to the current interim arrangement with the club regarding match fees and the amount of money they make from it, but it would make no difference because you would just deny it and counter with the same tedious arguments you have been using to excuse their appalling actions over recent weeks.

ACL are not acting responsibly. If the club goes belly up, so will ACL. It is their biggest source of income (even without rent contributions). All other tenancy agreements from hotel to casino, and service contracts for catering would be negotiated downwards if the football club disappeared. And Ricoh would walk from the naming rights deal. ACL are so blinded by petty personal grudges and hamstrung by external political pressure (Mutton is a buffoon and it is a sad reflection on Coventry that a man of such limited ability has risen to the position of council leader) that they threaten to bring the house of cards down and take themselves with it. Idiots. And to think apparently intelligent people like yourself defend their ludicrous position.

I despair. When CCFC ceases to exist as a league club, I hope you all enjoy the celebration party.

Let me start with a simple one. Yesterday, Fisher claimed that since last spring, the club has given ACL a sum of £800K in rent.

Has it?

 

[Grendel]

That's ridiculous. Only a handful have stated they would be prepared to allow the club to go to the wall as a mechanism to get rid of the current owners.

Nobody really wants to see, or would drive joy from the club folding. Your posts are getting more Grendelesque by the day. Shame

Having last year defended thorn to the bitter end your now only ever arguing for the council to effectively wind the club up and you make up statistics and pluck facts ft the air. Summer isle proved this yesterday.

Your posts are a combination of CJ and sky blue kid.

You must be proud.

 

[dongonzalos]

Your tiresome and unwavering support for a company that seems hellbent on putting our football club out of business (not to mention their biggest asset jeopardising their own existence in the process) is baffling in the extreme.

I could point to numerous examples of misleading statements, particularly in regard to the current interim arrangement with the club regarding match fees and the amount of money they make from it, but it would make no difference because you would just deny it and counter with the same tedious arguments you have been using to excuse their appalling actions over recent weeks.

ACL are not acting responsibly. If the club goes belly up, so will ACL. It is their biggest source of income (even without rent contributions). All other tenancy agreements from hotel to casino, and service contracts for catering would be negotiated downwards if the football club disappeared. And Ricoh would walk from the naming rights deal. ACL are so blinded by petty personal grudges and hamstrung by external political pressure (Mutton is a buffoon and it is a sad reflection on Coventry that a man of such limited ability has risen to the position of council leader) that they threaten to bring the house of cards down and take themselves with it. Idiots. And to think apparently intelligent people like yourself defend their ludicrous position.

I despair. When CCFC ceases to exist as a league club, I hope you all enjoy the celebration party.

So do you believe nobody will fill the vacuum?

 

[torchomatic]

I'm still waiting for ACL to come out and say "we have not received a total of £800K from the football club since April 2012".

Has it?

Let me start with a simple one. Yesterday, Fisher claimed that since last spring, the club has given ACL a sum of £800K in rent.

Has it?

 

[MichaelCCFC]

I believe there is a time scale where a declared insolvent company or subsidery which is what ccfc are can be salvaged, i think 28 days, someone off the Sky Blue Trust may answer that as i know it has been discussed and i think something has been put in place to save the Coventry City name, which is what didn't happen at Glasgow Rangers hence the name loss. Good question though and needs some of the more knowledgable on here to answer.

There are still a number of potential scenarios and yes, the Sky Blue Trust has put a lot of effort into working through how other Trusts have acted (Swans and Pompey Trust websites are good starting points) and getting people with legal/financial expertise involved who will help with whatever particular situation we end up with at ccfc. For anyone interested in all this, it's easy to get involved with the SBT and the Trust's meeting this Monday 4 March 7.30 @ the squirrel with steve waggott as guest should be good.

 

[torchomatic]

I don't believe anyone will fill the vacuum if SISU finally bugger off. What incentive is there for potential new investors? Small crowds, no stadium, high rent...what would a new investor be buying?

So do you believe nobody will fill the vacuum?

 

[Mary_Mungo_Midge]

I'm still waiting for ACL to come out and say "we have not received a total of £800K from the football club since April 2012".

Has it?

As I told you yesterday and will do so again, if they had done so I cannot see how the court would have sanctioned the winding up order for non payment of rent

 

[Grendel]

Let me start with a simple one. Yesterday, Fisher claimed that since last spring, the club has given ACL a sum of £800K in rent.

Has it?

If he said he has he must have done. According to you when sky blue Taylor said something you've been quoting it as factual ever since.