Appleton Speaks (1 Viewer)

[Nonleagueherewecome]

Ah, Chris Coleman on the radio "We pushed them all the way..." so many great memories come flooding back...

 

---

[Skyblueweeman]

Me!

Thanks :claping hands:

Just kidding Bazza. Spot on.

 

[cofastreecity]

What a load of tosh,Whose paying this twat

Arvo, sorry SISU

 

[SkyblueBazza]

Me!

Thanks :claping hands:

Just kidding Bazza. Spot on.

Why thank you...I'm filling up! I'll leave you to guess if that means with tears of joy, tears of anger, or simply my wineglass...

 

[torchomatic]

Well, there you go. Evil.

http://www.drpartners.com/our-people_paul-appleton.html
and he's a Arsenal fan

 

[dongonzalos]

STATEMENT ON BEHALF OF PAUL APPLETON

Since being appointed as Joint Administrator for Coventry City FC Limited (CCFCL) less than a week ago, I have been investigating a number of complex issues surrounding the Club.

Today’s decision by Arena Coventry Limited (ACL) to withdraw their own Application for an Administration Order now leaves me with the sole task of continuing those investigations.
The position is the same as it was last Friday. CCFCL is in administration, Coventry City FC (Holdings) Limited is not.

Much has been said and written in the media from both sides. My task is to remain impartial, however, I need to make a few points clear to the most important people involved in this situation - the Coventry City fans.

There are obvious concerns amongst supporters and season ticket holders surrounding the future of the Club.

The main ones that are concerning the fans relate to the Club’s ability to fulfill its remaining fixtures, where the three final home matches will be played and the prospect of a 10-point deduction by the Football League.
I’d like to address these in order.

While CCFCL - which was the tenant under the terms of the lease and licence to occupy the Ricoh Arena - is in Administration, Coventry City Football Club (Holdings) Limited is not and will continue to run as normal under its existing management.

I met with Steven Pressley last week to give him, the players and the Club staff those assurances.

There has been much speculation following the decision by the Club to withdraw its staff from the Ricoh Arena last Friday that the Club would be forced to ground-share for the rest of the season.

I understand there is a scenario where a compromise between the Club and ACL remains a possibility. If, in my position as Administrator, I can help mediate between the two sides, then that is something I am happy to do. That is my message to both parties.

As for the possibility of a 10-point deduction, that all depends on who holds the Golden Share which allows the Club to play in the Football League.
CCFC (Holdings) Ltd believe they hold the Golden Share and, as they are not in Administration, should not be deducted 10 points.

The Football League believe the Golden Share rests with CCFC Ltd which would potentially mean points being docked.

I am continuing my investigation into the matter and, as such, cannot yet comment. All I would say is that I will endeavour to keep the fans as up to date as possible within the limitations of my role.

Inevitably, the process of Administration is a lengthy and complicated one and while I appreciate the pressing concerns of the all Coventry City fans, I would ask for their patience while my investigations continue

Is it wrong to hope he does not negotiate between them now?

I am sure ACL have publicly stated that this is no longer an option

 

[hutch1972]

No mention of finding new prospective buyers of the club

Probably because there aint any !!

 

[leicesterskyblue]

Generally agree with the theme of trusting the guy because its in his and his company's best interests to be. I like that he's a football fan, even though a gooner, and that in his statement he's recognised what a lot of people on here have complained about, keeping the fans informed. Yes he has to sit on the fence until he knows for certain, but at least he's tied up what we thought we knew so far. This might take months, but I'm just hoping its done by the end of June...

 

[cloughie]

Probably because there aint any !!

Because his employers want to retain control

 

[SkyblueBazza]

Because his employers want to retain control

If they do then I see that as a positive. That would mean they see some really good tangible money to be made in the club - & that adds value - & that attracts interest - that gives Appleton more options - and theoretically better & happier outcomes for me & you )

 

[Grendel]

Is it wrong to hope he does not negotiate between them now?

I am sure ACL have publicly stated that this is no longer an option

Let's hope he does as I do not exactly envisage a queue of alternatives. The harsh cold reality of this basket case of a club is really going to hit home in the next 12 months.

 

[SkyblueBazza]

Let's hope he does as I do not exactly envisage a queue of alternatives. The harsh cold reality of this basket case of a club is really going to hit home in the next 12 months.

You must be great fun socially Grendel...you can kill a lively debate stone dead with responses like that.

 

[hutch1972]

STATEMENT ON BEHALF OF PAUL APPLETON

Since being appointed as Joint Administrator for Coventry City FC Limited (CCFCL) less than a week ago, I have been investigating a number of complex issues surrounding the Club.

Today’s decision by Arena Coventry Limited (ACL) to withdraw their own Application for an Administration Order now leaves me with the sole task of continuing those investigations.
The position is the same as it was last Friday. CCFCL is in administration, Coventry City FC (Holdings) Limited is not.

Much has been said and written in the media from both sides. My task is to remain impartial, however, I need to make a few points clear to the most important people involved in this situation - the Coventry City fans.

There are obvious concerns amongst supporters and season ticket holders surrounding the future of the Club.

The main ones that are concerning the fans relate to the Club’s ability to fulfill its remaining fixtures, where the three final home matches will be played and the prospect of a 10-point deduction by the Football League.
I’d like to address these in order.

While CCFCL - which was the tenant under the terms of the lease and licence to occupy the Ricoh Arena - is in Administration, Coventry City Football Club (Holdings) Limited is not and will continue to run as normal under its existing management.

I met with Steven Pressley last week to give him, the players and the Club staff those assurances.

There has been much speculation following the decision by the Club to withdraw its staff from the Ricoh Arena last Friday that the Club would be forced to ground-share for the rest of the season.

I understand there is a scenario where a compromise between the Club and ACL remains a possibility. If, in my position as Administrator, I can help mediate between the two sides, then that is something I am happy to do. That is my message to both parties.

As for the possibility of a 10-point deduction, that all depends on who holds the Golden Share which allows the Club to play in the Football League.
CCFC (Holdings) Ltd believe they hold the Golden Share and, as they are not in Administration, should not be deducted 10 points.

The Football League believe the Golden Share rests with CCFC Ltd which would potentially mean points being docked.

I am continuing my investigation into the matter and, as such, cannot yet comment. All I would say is that I will endeavour to keep the fans as up to date as possible within the limitations of my role.

Inevitably, the process of Administration is a lengthy and complicated one and while I appreciate the pressing concerns of the all Coventry City fans, I would ask for their patience while my investigations continue

Am i losing the plot or is he saying the club are still disputing the home of the golden share ?

 

[cloughie]

If they do then I see that as a positive. That would mean they see some really good tangible money to be made in the club - & that adds value - & that attracts interest - that gives Appleton more options - and theoretically better & happier outcomes for me & you )

No management fees will increase and the debt get bigger but that suits sisu as the bigger the debt ( on paper) the more they get from a new buyer , ie 10p in the pound £60 million = £ 6 million

only months ago it was rumored it was 45 million then 50 now 60

 

[dongonzalos]

Let's hope he does as I do not exactly envisage a queue of alternatives. The harsh cold reality of this basket case of a club is really going to hit home in the next 12 months.

Who is the 60 million owed to?

If the yank said I will pay 10 million then continue to fund the club from this point on (for example) however the rest must be written off and that is the only offer they get would they be compelled to accept it and force SISU to sell.

Just hope the creditors are not small local suppliers or businesses.

Is it all owed to SISU?

 

[Jack Griffin]

He's been told to investigate bu the court & report back in 6 weeks.

Les Reid ‏@Lesreidpolitics 7h
Breaking: #ACL as creditor asks judge for investigation into concerns over #CCFC assets, & a report back to court in 6 weeks

 

[Nonleagueherewecome]

Am i losing the plot or is he saying the club are still disputing the home of the golden share ?

Quite incredibly, it would seem so, yes..

 

[SkyblueBazza]

No management fees will increase and the debt get bigger but that suits sisu as the bigger the debt ( on paper) the more they get from a new buyer , ie 10p in the pound £60 million = £ 6 million

only months ago it was rumored it was 45 million then 50 now 60

But Appleton is now in control of all that - & he'll welcome adding value & increasing interest & options.

 

[BackRoomRummermill]

So many twists and turns

I will keep my thoughts to myself but i am sure there will be some major egg on face for a few 'informed' posters on here

 

[georgehudson]

i would therefore presume that it will be perfectly relevant for sisu to accurately (in detail), explain this £60m amount,
it is also long overdue for Ms JS to actually talk to the fans, the court, or the administrator,
or is this person real,

 

[Grendel]

Who is the 60 million owed to?

If the yank said I will pay 10 million then continue to fund the club from this point on (for example) however the rest must be written off and that is the only offer they get would they be compelled to accept it and force SISU to sell.

Just hope the creditors are not small local suppliers or businesses.

Is it all owed to SISU?

The Yank will not be buying the club -- self publicist.

 

[covcity4life]

is that someone who don't get paid????

Hahahhahahahahhahahahhahahah

 

[Block19]

Of course Appleton is independent, the majority of the debt is owned to ACL and yesterday ACL ask the court to reject their application for a new administrator so ACL must think he is not biased.

 

[Sub]

Statement from ACL

We are grateful to the Football League for coming back so quickly to our legal team to confirm that the Football League share resides with CCFC Ltd, not CCFC Holdings, as had been suggested previously by the CCFC and the appointed administrator. We are grateful also to the Football Association for its prompt response confirming that the Football Association share resides with CCFC Ltd, not with CCFC Holdings. Both of these organisations have acted quickly to bring clarity to this process and most importantly, clarify the situation for Sky Blues fans.

Could somebody explain why the independant administrator had come to the conclusion the golden share was with CCFC holdings ? how could he get that part so wrong when thats one of the most important parts of this legal argument ?

 

[skyblu3sk]

Until we get the answer on the golden share we still don't know what is up for sale and what isn't so there is no way he could be looking at buyers. Without it no-one will bid for that entity, whats the point it is only a lease for ACL and debt. My betting is the vast majority of the debt is still held by CCFC holdings as SISU would want to protect their investment with the largest amount of debt attached and that would be where the golden share is.
What will be interesting if if it turns out to still be in CCFC Ltd then in theory the only debt owed by the football club will be 10 Million as that is what you would buy rather than the holding company as SISU themselves have argued they are different things.

 

[Astute]

Golden share in our club? Will be worth as much as a golden egg that has salmonella

 

[skyblu3sk]

The golden share is everything if you want to own a football club that is...

 

[mattylad]

some people on here need to stop spouting total bollocks and get real! of course the administrator is going to sit on the fence at this stage! he is here to try and move the club forward how will irritating or alienation of any of the main players help. Some of the conspiracy shit on this thread is an embarrassment.

 

[sky blue john]

it seems to me that sisu have seriously fecked up with the share in ccfc ltd and players in ccfc holdings. So the share could be sold without the players in theory.
The administrater would have no reason to be involved with the players !!!

 

[oldskyblue58]

just a few thoughts

- am glad he made a statement and I welcome it
- if the players etc are the property of CCFCH what part of the administrators remit is it to reassure employees of another company that he does not act for
- if he sees it as part of his remit(clearly he does) does this support claims that the two companies are inextricably linked and should be vierwed as one
- similarly if the argument is that CCFC is actually CCFCH then in speaking to the fans does that again indicate the two(ccfcL & CCFCH) are linked and viewed as one
- am glad he will try to mediate between the two sides over access to the ground, good luck with that because one will have to give in as there are good legal arguments for and against creating a new tenancy (ACL wont want to do that). The only way i can see it being done is by ACL allowing CCFC Ltd to use it and CCFCL then letting CCFCH do it by paying CCFCL who then pays ACL (SISU wont want to do that)

He has a tricky path to tread, the trickiest of which is remaining wholly independent, not sure the statement does that 100%

 

[Pete in Portugal]

No mention of finding new prospective buyers of the club

No, but that's hardly surprising really. He's currently trying to sort out a very complex mess that SISU have created, either deliberately or through their own incompetence. Unfortunately, the reality is that, he's been involved for less than a week and therefore finding prospective purchasers is way down his list of priorities, for the time being at least.

Generally, I thought his statement was fine in the circumstances. We need to bear in mind that he must be seen act impartially, even if this means he has to take into account information given to him that may subsequently turns out to be inaccurate or false. (He said, choosing his words carefully!)

He may find the situation a little confusing, but at least he comes across to me as someone who is anxious to help resolve our problems in whatever way he is able. In my opinion we need more of this approach in the management of our club, particularly at the highest level.

 

[Sky Blue Kid]

some people on here need to stop spouting total bollocks and get real! of course the administrator is going to sit on the fence at this stage! he is here to try and move the club forward how will irritating or alienation of any of the main players help. Some of the conspiracy shit on this thread is an embarrassment.

What "Conspiracy shit" is it you're talking about? The Administrator?, or what has finally come out as Truth, about SISU? Miraculously being owed £60m when just a couple of weeks ago it was supposed to be £40m. Only yesterday Diehard Si asked if anyone remembered that SISU claimed £42m debt but had written off £35m to equity. I found it and posted on the forum. Is that classed as a conspiracy too?:facepalm:

 

[torchomatic]

And he's an Arsenal fan, FFS! Burn him!!!

What "Conspiracy shit" is it you're talking about? The Administrator?, or what has finally come out as Truth, about SISU? Miraculously being owed £60m when just a couple of weeks ago it was supposed to be £40m. Only yesterday Diehard Si asked if anyone remembered that SISU claimed £42m debt but had written off £35m to equity. I found it and posted on the forum. Is that classed as a conspiracy too?:facepalm:

 

[Sky Blue Kid]

And he's an Arsenal fan, FFS! Burn him!!!

I wasn't talking about the Administrator, I was talking about the "Truth" coming out about SISU!....Trust you to twist what is said!:facepalm:

 

[torchomatic]

And he's an Arsenal fan, FFS! Burn him!!!

I wasn't talking about the Administrator, I was talking about the "Truth" coming out about SISU!....Trust you to twist what is said!:facepalm: