Answers and ideas on this question (1 Viewer)

[rupert_bear]

Coventry City Football Club Ltd. are in administartion, all agreed. That was enough to incur a points deduction. We have been told that ccfc ltd is a company with no assets, no employees. It seems though this ccfc ltd hold or held the Golden Share, perhaps it's only asset. Would any purchaser of the ailing ccfc ltd own this golden share ? My question is who do you think the Football League will recognise as it's member ccfc ltd or ccfc holdings. Ccfc holdings (susu) have about as much chance of being allowed to play at the Ricoh as i have becoming Pope but ccfc ltd ? maybe different. Have sisu boobed ? If the Football League recognise ccfc ltd as it's member and allow it a place in it's organisation what can ccfc holdings (sisu) do about it ?, it's a seperate company they say, can't have it both ways surely.

 

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[ampthill_sba]

The golden share is not tradeable. It's given to the club by the FL. I suspect that the FL will allow it to transfer to CCFC holdings once CCFC ltd is liquidated BUT will this mean that the club is viewed as liquidated and have to start on non league?

Yes SISU have boobed; their decision was based on their belief that the golden share was with CCFC holdings.

Oops!!

 

[rupert_bear]

If as you say it is not transferable then it stays with ccfc ltd surely. The administators duty apparently is to find a suitable buyer for ccfc ltd so the business can continue. The only asset as i see it is this golden share and it's value is it allows whoever owns it to play in the FL, what price is that ? The more i read and think about it the more i hope sisu have boobed big time and not owning this golden share has shafted them or themselves

 

[ccfcway]

not a bloody clue

 

[coundonskyblue]

I really think we need to start harrassing the league to answer these quesions.

We should all start emailling them, jam their inbox up if necessary!

 

[Ctidmark]

I really think we need to start harrassing the league to answer these quesions.

We should all start emailling them, jam their inbox up if necessary!

AGREED im on to it

 

[Jack Griffin]

The golden share is not tradeable. It's given to the club by the FL. I suspect that the FL will allow it to transfer to CCFC holdings once CCFC ltd is liquidated BUT will this mean that the club is viewed as liquidated and have to start on non league?

Yes SISU have boobed; their decision was based on their belief that the golden share was with CCFC holdings.

Oops!!

However it might be transferable to another subsidary within the club, is that the loophole that SISU are trying to exploit?

 

[rupert_bear]

Perhaps i'm clutching at straws but as it stands and as i read things, this could be down to how the Football League see it. If they say the owner of ccfc ltd holds the share so is our member where does that leave ccfc holdings ? I suppose the debt all 60 million of it is in the ccfc ltd company name but that might not change the thoughts of the FL

 

[coundonskyblue]

I have sent the league this email:

Hello,

Following recent events at Coventry City supporters like myself are a little nervous for the future of the Club. I appreciate there might not be certain things you are able to discuss, but I would be grateful if you could answer a few questions please.


In the leagues opinion, to which company are Coventry City players registered to?

What does the league the consider "the club"?

Can the golden share be bought off a company in administration? I.e can CCFC Holdings purchase the golden share off CCFC Ltd?

Do the league know who has owned Coventry City these last few years?

Why did it take so long for the points deduction to be implemented?

Does the league persons to be directors of a Football Club if they have already been directors at a club which went into administration?

I would be grateful for some answers.



I sent this to [email protected]

 

[luwalla]

exactly what i was sayin in another post.. no one has a clue where this golden share lies.. and the implications , once its decided where it does actually lie, could be a major key in how we are able to move forward

 

[ampthill_sba]

However it might be transferable to another subsidary within the club, is that the loophole that SISU are trying to exploit?

Imo : It can be transferred but only with FL knowledge and permission (so it appears SISU have tried to move it without their knowledge - unsuccessfully).

Others on here seem to suggest that someone else can buy the share...IMO this is only possible with the FL involvement where the club changes hands and is part of the 'fit and proper person' test. No-one can buy the golden share and NOT acquire CCFC holdings...SISU won't let that go without recouping their £60m...

We need CCFC holdings into admin too...then someone can buy the whole club including the golden share!