What that means for the one thing the fans care about - the team - god knows but I can not see it being good.
Think next step will be more legal stuff Harry . Sisu want their hands on the Ricoh and will try to distress ACL and their stakeholders to get their hands on it. They will do this by sueing everything that moves in an effort to drain funds from their targets. Its about a battle of who has the deepest pockets - what it isnt is who is wrong or who is right. They are prepared to go to Sixfields for a period to do it What that means for the one thing the fans care about - the team - god knows but I can not see it being good. So this is not the end and where that end is I have no real idea
* edit name
Not looking good.
Update from the Guardian: http://www.theguardian.com/football/2013/jul/31/coventry-city-liquidation-cva?CMP=twt_gu
Coventry City chief executive, Tim Fisher, said ACL's amendments would not be made to the CVA and that a planned groundshare with Northampton Town would go ahead.
"They've run us up against a cliff edge of liquidation and they've moved to tip us over," Fisher said. "All I can say is that it is the biggest crying shame.
"How can a public body not accept a complete CVA where they will get the money that they are owed, instead of a liquidation where they will get a fraction of that, potentially one-sixtieth of what they would have got?
"This isn't a financial situation of our making; there is no financial gain. Actually there is economic and financial wreckage at the club. I'm not sure we could have done anything differently."
SISU would only continue to pay rent (we're told £150,000 in Div. 1 over 10 years, that's fine), however our playing budget will decrease year on year due to FIFA FFP RULES) 60% gross income this season but who knows in the future?
If they continue to base the FL on the German model, it will soon come down to 50% and we'll be more than in trouble.
Why should CCC allow SISU to own the Arena? All they have to do is increase the number of years on the lease to say 100 or 150 and retain the ownership of that lease but give them either a 5 or 10 year rental deal BUT WITH A % ACCESS TO ALL REVENUE STREAMS, to be negotiated.
at least the greedy council scumbags wont get a penny. 14 million down the drain too!! well played coventry city council.
I thought that F&B was included in this deal and frankly I'm fed up with this whole mess. I'd like to see an investigation of this whole situation including ACL, CCFC Ltd & Holdings, Otium, SB&L, Any Caymans Islands entities etc. find someone independent to do it and let's see where the blame really lies.BUT WHAT ABOUT AT 'LEAST A SHARE' of ALL other revenue streams for the Football Club (FIFA Financial Fair Play rules, look it up!).
The Club won't exsist in years to come because of 'expenditure % set against gross income' (don't take my word for it, look it up), just research what others say including Mark Robins, Paul Fletcher, Ray Ranson & Geoffrey Robinson amongst many, many other 'high' profile figures.
Basically 'Coventry City Council' have never done enough to help or assist CCFC why????????????
However they've continually 'used' ACL as a 'Political' football IMHO!
NO PARTY COMES OUT OF THIS 'DEBACLE' with ANY credit IMHO, including SISU but far too many others are complicit and are not either commenting (for legal reasons) or are being being MORE THAN LIMITED WITH THE TRUTH.
I just wish ALL parties would take a couple of steps back and consider the supporters, the history, the community & dedication time and money that so many have given over a lifetime but also those new young fans that may well be lost forever, WITHOUT A SENSIBLE SOLUTION TO THIS AWFUL MESS!
Well I can dream, can't I??????????
at least the greedy council scumbags wont get a penny. 14 million down the drain too!! well played coventry city council.
we are playing at the ricoh. chill - its a defo
how can ccfc Ltd be liquidated, and then Otium still get the golden share? I thought Otium bought CCFC Ltd, so if thats gone why do they get the golden share, why would it not go to CCFC Holdings Ltd :thinking about:
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