City Director on threat of admin (2 Viewers)

Coventry La La La · May 3, 2011

City Ok For Now - Brody

Coventry City Director Leonard Brody has said the Sky Blues are currently safe from the threat of administration but made no long term promises.

Brody tweeted:

"Look there are never any promises and things can certainly take a turn, but for now.. we are ok."

The Sky Blues were saved from administration by an £8m bail out from SISU back in March but very little has come from the new board about the future of the club and season ticket sales have been hit as a result.

bamalamafizzfazz · May 3, 2011

Did this come from somebody asking him this question or did he just randomly post it on Twitter? The answer to this question could be quite significant.

Covstu · May 3, 2011

Yes and the missing line underneath is, we are fucked next season though!!

skyblu3sk · May 3, 2011

It Was a reply to someone asking a question.

hackneyfox · May 3, 2011

They had claimed that another 5m was needed to get to the end of the season hadn't they?

Coventry La La La · May 3, 2011

I'm pritty sure they did Hackney apparently their losing around 500k a week? pritty shocking.

I can see Sisu pulling out this summer if they recieve a bid for the club.

mustaphasbeard · May 3, 2011

500k on the loose, eh?

Coventry La La La · May 3, 2011

"losing around 500k a week" not 500k on the loose

Again mustaphasbeard great input to the forum.

oldskyblue58 · May 3, 2011

Changed his emphasis in what he is saying. Two weeks ago it was a bold "this club is not going into administration" now it is a you never can be certain.

Things are about to get very tough financially....... no income but wages and bills to pay..... no prospect of any sales of players..... season ticket sales likely to be low...... no saving on contracts until July...... accounts still not filed and embargo in place.... etc etc . If you ask me the next 2 months are crunch time.

kg82 · May 3, 2011

£500k a week?! That's over £25 million for a year, that can't be right?!

Coventry La La La · May 3, 2011

kg82 said:
£500k a week?! That's over £25 million for a year, that can't be right?!

You're right I probly am wrong but I'm sure the figure their losing a week was ridiculously high? anyone got a quote from when they said how much they were losing per week?

Marty · May 3, 2011

pritty sure it was 500k a month, with losses of about 5 million a year that figure would seem to be fairly correct.

mustaphasbeard · May 3, 2011

Coventry La La La said:
"losing around 500k a week" not 500k on the loose

Again mustaphasbeard great input to the forum.

Well done, nice quick edit.:wave:

Nonleagueherewecome · May 3, 2011

Stop being such a grammer/spelling nancy!

mustaphasbeard · May 3, 2011

There are some things that annoy me massively. Diving players. Plastic manc fans. Brody on twitter.

And people using words like 'loosing' and 'are' instead of our.

A spelling mistake/typo is one thing but to use completely the wrong word is just downright annoying. You know what they say, all it takes for evil to flourish is for good man to say nothing (or something like that!)

Plus, it gives me a little snigger when i do it.

mustaphasbeard · May 3, 2011

A nancy? What, being semi literate is all manly and hard, is it?

Coventry La La La · May 3, 2011

mustaphasbeard said:
A nancy? What, being semi literate is all manly and hard, is it?

Well done again on changing the whole subject of the thread typical wind up merchant.

KarmicChris · May 3, 2011

I thought it was 500k a month??

Macca · May 3, 2011

Nancy :claping hands:

Big Mo · May 3, 2011

4 to 6m per year was the figure, not good!

procdoc · May 3, 2011

I wonder what terms have been offered to king, westy and gunnar then? surely if we're losing that much a month we can't afford to give them better contracts?

rob9872 · May 4, 2011

I think the loss figure depends on which story they are trying to tell and the intention of who they need to do what, but as the latest filed accounts are still 2009 then we're all speculating

Nonleagueherewecome · May 4, 2011

mustaphasbeard said:
A nancy? What, being semi literate is all manly and hard, is it?

I was being ironic.

Whoosh!! That's the sound of the pun going right over your head.

covcity4life · May 5, 2011

80k a week, 4m a year was last i heard,been couple of years though

since then we have trimmed down wages no? although attendences dropped too

heres hoping for a better year next.........year

CovLis86 · May 5, 2011

There will at least be some big wages going off the wage bill. Carsley, Westwood and sadly most likely King. Thats probably around the 35k mark a week on wages just there, not even includng clean sheet, goal bonus' etc.

oldskyblue58 · May 5, 2011

Am guessing recent losses are more than the £80k figure given out over a year ago. Look at the crowd average this season compared to the 2008/09 season, there has been a big drop. There wont have been massive savings in the wages because of bringing in the likes of King & Carsley and there were no significant transfer sales. The size of the losses will have triggered the Auditors concerns over going concern (going concern is probably the reason why the accounts are not filed and the embargo still in place). Even if we save £35k per week in wages that still leaves over £45k per week losses, thats £2.3m at least with no real potential for player sales to cover the loss. Also we might save on those players but we need to replace them in the squad which will cost.

Honestly think CCFC fans will need to reconsider their expectations of what can be done next season. The club wont retain some of its stars either through being out of contract or by choice (eg Eastwood perhaps) in order to drive down costs and to put the club on a sustainable footing. AT will have the style of play he wants to play but he may not have quite the quality of player he wants simply because we cannot afford them.

Unless these costs are addressed or owners (current or new) are prepared to fund the losses then administration remains a real option ...... frankly despite all the rhetoric from the Board it always has been an alternative, to say otherwise is simply not believable

Sky Blue Sheepy · May 5, 2011

My understanding was the club were losing £82000 a week which equates to just over £4m a year - which was the stated sum that SISU quoted previously

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