Coventry City boss admits 'errors' after leak of confidential players' documents (25 Viewers)

Hobo · Sep 5, 2013

Remember SISU are experts in deconstructing failing companies and making a profit. They know what they are doing and use discrepancies to their advantage. Joy in court I have such a busy schedule I must have forgot...or something similar. The Judge as good as said I believe you are lying but because I can't prove it Ill have to give you the benefit of the doubt.

These people are not dumb but they know how to wriggle and exploit a loop hole....they may have lost a bit of control over their game plan but is obviously worth sticking around or they would have just pulled the plug....people..football..Coventry...no interest what so ever!

RoboCCFC90 · Sep 5, 2013

Ricoh Arena bosses have ruled out an approach to the administrator to prevent the imminent liquidation of Coventry City Football Club Limited.
Arena Coventry Limited has also defended its refusal on August 2 to bring CCFC Ltd out of administration by signing administrator Paul Appleton’s revised Company Voluntary Arrangement (CVA).
After that, the Football League deducted ten points from Coventry City’s Division One campaign this season and sees the club rooted at the bottom of the table despite excellent team performances.
Coventry City bosses say they are “mystified” as to why Coventry City Council declined the CVA which “neither the club or the fans” have benefited from.
ACL has consistently said since August 2 it hopes for a revised CVA which could prevent CCFC Ltd’s liquidation - leading to fans’ speculation that, in theory at least, the League might consider reversing the ten point penalty.
Coventry City boss admits 'errors' after leak of confidential players' documents
But, as we revealed this week, Mr Appleton said that would require ACL to put forward new proposals that could be acceptable to all creditors, and he had received no ACL approach.
Mr Appleton, as an officer of the court, had prior to August 2 rejected ACL’s proposed modifications to his CVA - which included a condition that Coventry City return to the Ricoh as tenants for ten years on a vastly reduced rent deal - stating the modifications were not possible in law.
The League told the Telegraph on Tuesday there was now no hope of the ten points being handed back to the Sky Blues as the rejection of the CVA - also rejected by HM Revenue and Customs - had resulted in the League on the same day handing its crucial “golden share” to Sisu company Otium to run the club.
It was awarded on condition Otium accepted the ten-point penalty and that ACL as a creditor would still get the £590,000 it would have received had the CVA been signed.
Questioned further by the Telegraph over their reasons for rejecting the CVA, an ACL spokesman said: “ACL does not currently anticipate formally requesting another CVA from the administrator. He has made it quite clear to all stakeholders that he plans to conduct the remainder of the process as he sees fit.
“ACL’s motivation for rejecting the CVA was about much more than pure financial interest. Along with various other parties, ranging from Sky Blues fans and Supporters Direct through to local MPs and potential bidders, ACL was not happy with the way the administration process was run.
“Accepting the CVA would have been a tacit approval of a process that few people save Sisu and the administrator had any faith in. Along with HMRC, ACL rejected the CVA.
Coventry City won't have 10 points reinstated, says Football League
“We did so because we have significant doubts about how the process has been managed – particularly with new evidence that the administrator should have been aware of coming to light on an almost weekly basis.”

Paul Appleton Mr Appleton has stated he had acted as an officer of the court in discharging his duties to creditors in accordance with the law - and that a sale of the assets in CCFC Ltd for £1.5million to Otium was the only realistic option available to him.
He had made clear that the company would move to liquidation if a CVA could not be agreed.
Tim Fisher, Coventry City chief executive, said: “It still mystifies us why the council voted down the CVA, particularly when the Higgs charity (Alan Higgs Centre Trust) voted to accept it.
“The subsequent ‘explanations’ have not given any clarity on the motivation for the council voting that way - in fact, the numerous reasons given in subsequent weeks are contradictory, make the situation more confused and also fly in the face of the stated desire to move on – something everyone wants to happen.
“The only outcome is that the club have been penalised 10 points – and clearly neither the club nor the fans benefits from that.
“We want to look forward. The penalty points deduction means that life has been made even harder for the manager, players and supporters, but all are determined to succeed and already Steven Pressley and the team have made great strides forward.”

Coventry City boss Tim Fisher In a separate development, a scrutiny committee at Coventry City Council is to examine the business of the council-owned Ricoh Arena now it has no Coventry City Football Club playing there.
Councillors want to examine claims there is a viable way forward for the stadium.
ACL will go before the finance and corporate services scrutiny board on November 25.
Labour councillor Tony Skipper said on Facebook: “It was decided that serious scrutiny of ACL by Coventry councillors was overdue.
“My view is that football or no football, not enough is happening at the Ricoh Arena.
“This is no secret and in keeping with it the decision has my full support.”

Ann Lucas As we have reported, Coventry City Council leader Ann Lucas has claimed the Ricoh is “very profitable” without the football club.
Meanwhile, Coventry North east MP Bob Ainsworth has tabled another Parliamentary motion over the Sky Blues saga - in which he claims the Football League is not fit for purpose.
He claimed that the League in allowing the Sky Blues’ groundshare at Northampton Town without a clear plan for the club’s return acted against the League’s insolvency policy.
The League denies this, saying its regulations give its board “discretion”, and that it had acted to keep the Sky Blues alive amid a “commercial dispute” between the Ricoh’s landlord and tenant.
Mr Ainsworth’s Early Day Motion (EDM) also highlights how League chairman Greg Clarke told this newspaper he had no idea if Coventry City would ever return to Coventry.
Mr Ainsworth has also received a letter from Companies House stating it has issued a final warning to the Sky Blues’ directors to file late accounts for Coventry City Football (Holdings) Ltd, Sky Blue Sports & Leisure Ltd and Otium Entertainment Group Ltd.

Sub · Sep 5, 2013

most hated people in coventry see above !!

RoboCCFC90 · Sep 5, 2013

Sub said:
most hated people in coventry see above !!

Completely agree!

However I find it interesting that there will be a meeting to determine whether the Arena is viable going forward. What if they rule it isn't? A sale to SISU??

Sub · Sep 5, 2013

put a roof on it and compete with the NEC job done

RoboCCFC90 · Sep 5, 2013

Sub said:
put a roof on it and compete with the NEC job done

More cost incurred though...

kmj5000 · Sep 5, 2013

I see that ACL still got the £500k it was offered under CVA. I think that alot of people had missed that - including me?

Sub · Sep 5, 2013

RoboCCFC90 said:
More cost incurred though...

could move it to northampton and put the football team in it ?

Deleted member 5849 · Sep 5, 2013

kmj5000 said:
I see that ACL still got the £500k it was offered under CVA. I think that alot of people had missed that - including me?

Absolutely no reason for them to accept it then!

Which all seems a little odd in itself.

njdlawyer · Sep 5, 2013

It is absolutely clear that an ACL mole has infiltrated SISU / Otium and doctored the contracts to make Mr Fisher look dishonest and / or incompetent

Likewise surely no-one can be in any doubt that the same mole or others in the employ of ACL have been sabotaging SISU / Otiums undoubtedly strenuous attempts to file proper accounts

Furthermore it is almost certain that back in May ACL and CCC formed a shell company to make a spoof offer of shirt sponsorship just so as to make Mr Fisher look silly / dishonest and / or incompetent when he said that an announcement to confirm a sponsorship deal would be made in a couple of weeks

It doesnt end there though as it ios quite conceivable that ACL / CCC have purchased every single parcel of available land in Coventry and Warwickshire with the sole intent of making TF look silly / dishonest and / or incompetent when he said (in May) that he would announce the new stadium site in a couple of weeks

Finally lets not forget that scene in 2005 reminiscent of The Godfather as PWKH and the rest of the ACL / CCC Mafia beheaded Joy's favourite horse in order to make her and SISU sign a rent agreement completely against their will

What next will these crooks do in their attempts to make the virtuous and noble SISU / Otium look bad?

dadgad · Sep 5, 2013

kmj5000 said:
Oh dear Tim, you've been found out again and, I suspect, there are more revelations to come?

I raised this very point in respect of the accounts you signed, with all the player registrations in CCFC Ltd, at the fan's forum, and you passed the question over to your sidekick who, in turn, blamed the auditors.

It seems that the truth is finally coming out and, having made such categoric statements that have turned out to be untrue ( and not fot the first, or even, the second time), you must be a worried man.

I think you will be having a few sleepless nights eh Tim?

Looks like Appleton might be having sleepless nights too.

If he liquidates he must expect a legal challenge

RPHunt · Sep 5, 2013

RoboCCFC90 said:
However I find it interesting that there will be a meeting to determine whether the Arena is viable going forward. What if they rule it isn't? A sale to SISU??

No, just like the sale of CCFC there would have to be bids. But this time, the odds wouldn't be stacked in SISU's favour.

kmj5000 · Sep 5, 2013

oldskyblue58 said:
Just a few thoughts really

There have been comments about how the split of "The Coventry City Football Club Ltd" was done in 1995. That things like the golden share were put in the wrong company. Just to be clear in order for the Hive down to happen there had to be written approval of the process from both the Football League and the FA. Clearly the club, FA & FL were fully aware of where the share, football club trade and players were following the split in to CCFC Ltd and CCFC H Ltd.

The process on relegation is to exchange the share the club has with the share a promoted club has. In order to exchange that share you must have your name attached to it. So when relegated from the Premiership CCFC Ltd exchanged that share for a Championship one no other entity could exchange shares on behalf of CCFC. Similarly on relegation to L1

Annual returns submitted to Company House by the Football League including the one in June 2013 show Coventry City Football Club Limited (including company number) as the share holder. Therefore the Football League were well aware of where the share was so were the club. It was public record

Only the Football League member can register and contract players to play in the Football League competition, a point backed up by the "audit" of registrations at all 71 other clubs to make sure cross company registration did not occur any where else (tacit admission that the CCFC situation was wrong?). The implication of that is not that the share was in the wrong place or that it should be moved to where the contracts were - remember transfer of the share requires written permission from the FA & FL and there has been none. It is that the contracts/registrations that should have been transferred to the member club had an administrative error been made by either club or FL. The correction was to move the contracts/registrations that were in the wrong place (clearly not all were)

What we know
- the rules of CCFC Ltd say the players & trade should be in CCFC Ltd
- minutes of directors meeting in 2008 under SISU ownership say that player contracts and registration should be in CCFC Ltd
- Copies of contracts so far seen indicate that all player dealings were in CCFC Ltd
- Third parties understood they were dealing with CCFC Ltd
- Accounts since 1996 through to 2011 show player contracts and registrations were in CCFC Ltd
- successive and different directors including TF signed off accounts that included all player transactions in CCFC Ltd
- Due diligence carried out by SISU in 2008 showed the players & trade were in CCFC Ltd
- all player transactions from 1995 to 2011 were detailed in CCFC Ltd
- The first administrators report indicated there were registrations in CCFC Ltd (info provided to PA by TF)
- the share was confirmed by FA and FL as in CCFC Ltd

against this we have been told at various times by TF
- CCFC never had or paid any employees
- that the registrations were in CCFC Ltd and contracts in CCFC H Ltd
- that players have always been in CCFC H Ltd
- that the financials are a mess
- no players were registered in CCFC Ltd
- that past directors had got it wrong (but also must include him because he was using the same basis to give PA information in March 2013)
- all players now registered with Otium Entertainment Group
- that contracts on a third party letterhead were not valid as CCFC Ltd because the CCFC Ltd company number was not on it, and that it should have been CCFC H Ltd (whose name nor number does not appear at all)
- its all the fault of the FL
- no one knows where the share is
- CCFC H has the rights to the share
- the share is confirmed in CCFC Ltd

all of his statements are pretty contradictory at best.

Where is the evidence that the points we know from published documents are all incorrect - the word of TF is simply not good enough. How hard should it be to disprove things once and for all?

Final thought - is there not a responsibility on the part of not only the FL but also the Club to ensure that contracts and player registrations are in the correct place with the golden share. If the Club had completed the registrations/contracts clearly and unambiguously then the FL could not have made a mistake in the first place. It is the Club presenting the forms not the FL. Between 2006 and 2010 it would seem that transfers etc were being registered by CCFC Ltd as yet there is no evidence to show anything different to that.

That all said, I do not expect the FL to back track and to correct the registration errors, I do not expect SISU/TF to permit any back tracking they will hit the FL with huge legal bills if FL tried, I do not expect PA to change his process, I do not expect ACL to fight this directly in the courts. CCFC will now remain with Otium Entertainment Group (SISU), The FL will come under increasing pressure regarding their governance, CCFC will remain for this season at Sixfields unless there is some sort of game changer regarding SISU stadium ambitions.

A superb summary OSB but, for once, I hope that not all the predictions in your final para prove to be correct.

Cityfan1 · Sep 5, 2013

I think we all know (believe) that SISU are the Devil incarnate, but as ACL are not now going to challenge the CVA or the liquidation of LTD what was the point of rejecting the CVA?

Deleted member 5849 · Sep 5, 2013

Cityfan1 said:
I think we all know (believe) that SISU are the Devil incarnate, but as ACL are not now going to challenge the CVA or the liquidation of LTD what was the point of rejecting the CVA?

If they get their cash anyway, why not?

Gives some hassle, costs some money... distresses the club so they have to sell at a reduced value

dadgad · Sep 5, 2013

Cityfan1 said:
I think we all know (believe) that SISU are the Devil incarnate, but as ACL are not now going to challenge the CVA or the liquidation of LTD what was the point of rejecting the CVA?

Because they are making a case for future litigation. This has a long way to run.....

Cityfan1 · Sep 5, 2013

kmj5000 said:
A superb summary OSB but, for once, I hope that not all the predictions in your final para prove to be correct.

As usual OSB has laid out the facts and given a condensed summing up of all the issues raised and to be honest i think his final analysis is spot on.

RoboCCFC90 · Sep 5, 2013

RPHunt said:
No, just like the sale of CCFC there would have to be bids. But this time, the odds wouldn't be stacked in SISU's favour.

Perhaps, but if the bidders are SISU and Byng for example I am sure that the sale of the Arena would go to SISU.

Cityfan1 · Sep 5, 2013

dadgad said:
Because they are making a case for future litigation. This has a long way to run.....

So you honestly believe ACL have the resources or the bollocks to take SISU through the courts. Honest question?

Deleted member 5849 · Sep 5, 2013

If SISU owned the club, and the Arena were ruled not viable because the club was no longer there, then the odds would be stacked in SISU's favour.

Who else, after all, would want a football stadium apart from the owners of the football club, in that circumstance?

RoboCCFC90 · Sep 5, 2013

Deleted member 5849 said:
If SISU owned the club, and the Arena were ruled not viable because the club was no longer there, then the odds would be stacked in SISU's favour.

Who else, after all, would want a football stadium apart from the owners of the football club, in that circumstance?

Exactly! So what I hope for now is that the Arena is ruled not viable and CCC/ACL have to sell.

Sub · Sep 5, 2013

not to sisu/otium or what ever they are called because they will royaly fuck the club over then and it will be even further down into the black hole, SISU should never own the Stadium

RoboCCFC90 · Sep 5, 2013

njdlawyer said:
It is absolutely clear that an ACL mole has infiltrated SISU / Otium and doctored the contracts to make Mr Fisher look dishonest and / or incompetent

Likewise surely no-one can be in any doubt that the same mole or others in the employ of ACL have been sabotaging SISU / Otiums undoubtedly strenuous attempts to file proper accounts

Furthermore it is almost certain that back in May ACL and CCC formed a shell company to make a spoof offer of shirt sponsorship just so as to make Mr Fisher look silly / dishonest and / or incompetent when he said that an announcement to confirm a sponsorship deal would be made in a couple of weeks

It doesnt end there though as it ios quite conceivable that ACL / CCC have purchased every single parcel of available land in Coventry and Warwickshire with the sole intent of making TF look silly / dishonest and / or incompetent when he said (in May) that he would announce the new stadium site in a couple of weeks

Finally lets not forget that scene in 2005 reminiscent of The Godfather as PWKH and the rest of the ACL / CCC Mafia beheaded Joy's favourite horse in order to make her and SISU sign a rent agreement completely against their will

What next will these crooks do in their attempts to make the virtuous and noble SISU / Otium look bad?

Any proof to this?

RoboCCFC90 · Sep 5, 2013

Sub said:
not to sisu/otium or what ever they are called because they will royaly fuck the club over then and it will be even further down into the black hole, SISU should never own the Stadium

Would bring us back to Coventry and at this moment that's more important than anything!

Deleted member 5849 · Sep 5, 2013

RoboCCFC90 said:
Any proof to this?

_brian?

RPHunt · Sep 5, 2013

Deleted member 5849 said:
If SISU owned the club, and the Arena were ruled not viable because the club was no longer there, then the odds would be stacked in SISU's favour.

Who else, after all, would want a football stadium apart from the owners of the football club, in that circumstance?

Someone who was prepared to call SISU's bluff and take a gamble that they could pick up the club cheap when SISU finally realise the game is up?

RoboCCFC90 · Sep 5, 2013

Deleted member 5849 said:
_brian?

There was no huge LOL on the end so it's doubtful.

Sub · Sep 5, 2013

would saddle us with more debt for years to come and then a worse decline and guess what maybe administration again ???how the fuck anybody still thinks this bunch of sharks owning the ricoh is a good thing is beyond me they can not even run a football club properly and now you want to let them have the ricoh so they can fuck it all up ?? :facepalm:

RoboCCFC90 · Sep 5, 2013

Sub said:
would saddle us with more debt for years to come and then a worse decline and guess what maybe administration again ???how the fuck anybody still thinks this bunch of sharks owning the ricoh is a good thing is beyond me they can not even run a football club properly and now you want to let them have the ricoh so they can fuck it all up ?? :facepalm:

A choice for you Sub we don't play in Coventry again and by many people's opinion the club folds.

Or

SISU buy the Arena and we try to reclaim some dignity, by also having a club to support reguarly?

ajsccfc · Sep 5, 2013

sky blue john said:
Still at the end of the the day there will still be 10% of our fan base including a few on here will defend the indefensible until the end !!!
A shame really because if the 10% were to join the rest of us this mess would be over a lot quicker with Sisu selling up or at the least be back at the Ricoh.

You really should give up on this idea of people being pro-Sisu.

Sub · Sep 5, 2013

and watch the ricoh being bled dry the team failing relegation best players sold not replaced SISU filter the money off saddle us with more debt then once that is done wind us or and liquidate us ?
no chance they should never own the ground there is no happy out come here with SISU involved can you not see that ?

either way the club will end up losing out choice is now wind the club up or give them the ricoh for fuck all ? rather see the club wound up and start again then the club and ricoh could be joined together under new owners who want the best for CCFC not to use us as a cash cow and to saddle us with debt thanks to some shady bank in the cayman island!

they should pay the same rent as in northampton get more fans revenue and build their magical stadium, but no they wont do that because it wont distress ACL so they can get the ricoh for next to nothing ? the offer is there but they would rather move 35 mile and piss everybody off for their own gains and yet people still want to give them a asset they have no right to , just amazes me realy does :facepalm:

RoboCCFC90 · Sep 5, 2013

Sub said:
and watch the ricoh being bled dry the team failing relegation best players sold not replaced SISU filter the money off saddle us with more debt then once that is done wind us or and liquidate us ? - You mean like all the players they were supposed to sell this window to keep them afloat???
no chance they should never own the ground there is no happy out come here with SISU involved can you not see that ? - Then we stay in Northampton and we continue to blame SISU when the Council should do the right thing and sell, what happens if the Arena is proved to be fincially unviable without the Football Club, there must be some doubt this meeting wouldn't take place otherwise?

either way the club will end up losing out choice is now wind the club up (What??? Are you for real? Wind the club up? What an attitude from a fan) or give them the ricoh for fuck all ? rather see the club wound up and start again then the club and ricoh could be joined together under new owners who want the best for CCFC not to use us as a cash cow and to saddle us with debt thanks to some shady bank in the cayman island!

they should pay the same rent as in northampton get more fans revenue and build their magical stadium, but no they wont do that because it wont distress ACL so they can get the ricoh for next to nothing ? the offer is there but they would rather move 35 mile and piss everybody off for their own gains and yet people still want to give them a asset they have no right to , just amazes me realy does :facepalm:- Talk about being amazed your attitude on our club folding and starting over is just astonishing..

Sub · Sep 5, 2013

so tell me why we are in northampton then when it is deal that is costing the club money hand over fist ??? is that best for the club ?? is it best for the fans ?? is it best for the team ???

either way the club will end up losing out choice is now wind the club up (What??? Are you for real? Wind the club up? What an attitude from a fan) or give them the ricoh for fuck all ?

and if you read the whole sentence it was a question ?

and if it was a choice of the two yes i would rather start again thats my opinion

Cityfan1 · Sep 5, 2013

Sub said:
and watch the ricoh being bled dry the team failing relegation best players sold not replaced SISU filter the money off saddle us with more debt then once that is done wind us or and liquidate us ?
no chance they should never own the ground there is no happy out come here with SISU involved can you not see that ?

either way the club will end up losing out choice is now wind the club up or give them the ricoh for fuck all ? rather see the club wound up and start again then the club and ricoh could be joined together under new owners who want the best for CCFC not to use us as a cash cow and to saddle us with debt thanks to some shady bank in the cayman island!

they should pay the same rent as in northampton get more fans revenue and build their magical stadium, but no they wont do that because it wont distress ACL so they can get the ricoh for next to nothing ? the offer is there but they would rather move 35 mile and piss everybody off for their own gains and yet people still want to give them a asset they have no right to , just amazes me realy does :facepalm:

And why would they do any of these things, are they not in the business of making money by taking failing businesses and making them profitable and selling them on. As has been said i believe this is possibly the only way we will see CCFC playing back in Coventry with the possibility of SISU selling the Club and Arena together.

RoboCCFC90 · Sep 5, 2013

Sub said:
so tell me why we are in northampton then when it is deal that is costing the club money hand over fist ??? is that best for the club ?? is it best for the fans ?? is it best for the team ???

No I agree it's not the best for anyone, however is it the best for the club and the supporters, not to have their own stadium which they sacrificed their former home for? To be paying an extortionate rent for 7 years?

There are arguements to and fro however one thing that is central in all this, is that the club needs a ground in Coventry, not Northampton if there is any chance under any situation it can be the Ricoh Arena then it has to be done.

Coventry City boss admits 'errors' after leak of confidential players' documents (25 Viewers)

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