Coventry fans' misery as owners run out of options (1 Viewer)
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fernandopartridge
Well-Known Member
Lovely. Another depressing article.
Kingokings204
Well-Known Member
Nothing new in this article. Another depressing story and lets move on.
Danceswithhorses
Well-Known Member
Lets only mention positive articles...oh, hold on
:sarcasm:
fernandopartridge
Well-Known Member
Plenty on here wallow in this regurgitated shite.
MusicDating
Euro 2016 Prediction League Champion!!
Isn't the media highlighting our plight a good thing?
fernandopartridge
Well-Known Member
Who is it being highlighted to?
MusicDating
Euro 2016 Prediction League Champion!!
A wider football audience who think we're playing at Northampton because we can't afford the rent?
fernandopartridge
Well-Known Member
Oh right. That's good then.
This is the article from WHEN SATURDAY COMES
Coventry fans' misery as owners run out of options
No end in sight for long-running dispute
6 July ~ A year has passed since the Football League sanctioned Coventry City's relocation to Sixfields in Northampton following a bitter commercial dispute between the club's owners, the hedge fund Sisu, and ACL, the company representing Ricoh Arena owners Coventry City Council and the the Alan Edward Higgs Charity. Coventry supporters hoped that June's long-awaited judicial review to determine the legality of a £14.4 million loan from the Council to ACL might signal a turning point in the dispute, but Judge Hickinbottom's conclusion appears to suggest otherwise.
He took less than a minute to deliver his verdict that Sisu's claim had been unsuccessful, and while some saw this as a victory for morals in the face of the club's decision to break a contractual rental agreement, it has done little to further the process of reconciliation.
The rhetoric emanating from Sisu in the build-up to the case was bullish, with many assuming from the relentlessness with which they pursued the case that they possessed a trump card. The verdict, though, suggests that their seemingly irrational decision-making has not been informed by anything game-changing or revelatory – just a simple and long-standing desire to salvage some profit from the club at any cost.
CCFC chief executive Tim Fisher responded by maintaining that the judge's conclusion was incorrect ("We believe [the loan] is wrong in law and in fact"), laying the groundwork for an appeal that seems highly unlikely to yield Sisu's desired outcome but which will surely prolong fans' misery.
The news that the club have also dismissed an offer from fan group Keep Cov in Cov to pay the rent required to return the club to the Ricoh Arena for the next three years "at no financial risk" appears to have left Sisu increasingly isolated. Fisher again asserted that "Plan A" remains building a new stadium in "the Coventry area", but few are convinced of his sincerity – not least because the plan seems to lack any serious credibility. Promises have been made for months about the release of information regarding potential sites but there is little to suggest that this is a viable way forward.
Sisu therefore find themselves running out of options. Assuming that any appeal against the judicial review is unsuccessful, the hedge fund are no closer to acquiring the Ricoh Arena than when they placed the club's holding company into administration in March 2013. And while the owners procrastinate and leave the club in a state of limbo, the rot is becoming further entrenched. They have always maintained that they will cover losses while the club play at Sixfields with negligible income, but the departures of the likes of Blair Adams and Mark Marshall to League One rivals suggest an inability to compete financially.
While some supporters were willing to give Sisu the benefit of the doubt in the hope that the judicial review might facilitate a resolution, there is now a strong feeling that they have wasted months on a pipe dream, further weakening the club's position in doing so. It is time for the Football League to re-evaluate the basis on which they granted the club permission to relocate temporarily to Northampton while the damage already inflicted remains reversible.
Tom Furnival-Adams
Coventry fans' misery as owners run out of options
No end in sight for long-running dispute
6 July ~ A year has passed since the Football League sanctioned Coventry City's relocation to Sixfields in Northampton following a bitter commercial dispute between the club's owners, the hedge fund Sisu, and ACL, the company representing Ricoh Arena owners Coventry City Council and the the Alan Edward Higgs Charity. Coventry supporters hoped that June's long-awaited judicial review to determine the legality of a £14.4 million loan from the Council to ACL might signal a turning point in the dispute, but Judge Hickinbottom's conclusion appears to suggest otherwise.
He took less than a minute to deliver his verdict that Sisu's claim had been unsuccessful, and while some saw this as a victory for morals in the face of the club's decision to break a contractual rental agreement, it has done little to further the process of reconciliation.
The rhetoric emanating from Sisu in the build-up to the case was bullish, with many assuming from the relentlessness with which they pursued the case that they possessed a trump card. The verdict, though, suggests that their seemingly irrational decision-making has not been informed by anything game-changing or revelatory – just a simple and long-standing desire to salvage some profit from the club at any cost.
CCFC chief executive Tim Fisher responded by maintaining that the judge's conclusion was incorrect ("We believe [the loan] is wrong in law and in fact"), laying the groundwork for an appeal that seems highly unlikely to yield Sisu's desired outcome but which will surely prolong fans' misery.
The news that the club have also dismissed an offer from fan group Keep Cov in Cov to pay the rent required to return the club to the Ricoh Arena for the next three years "at no financial risk" appears to have left Sisu increasingly isolated. Fisher again asserted that "Plan A" remains building a new stadium in "the Coventry area", but few are convinced of his sincerity – not least because the plan seems to lack any serious credibility. Promises have been made for months about the release of information regarding potential sites but there is little to suggest that this is a viable way forward.
Sisu therefore find themselves running out of options. Assuming that any appeal against the judicial review is unsuccessful, the hedge fund are no closer to acquiring the Ricoh Arena than when they placed the club's holding company into administration in March 2013. And while the owners procrastinate and leave the club in a state of limbo, the rot is becoming further entrenched. They have always maintained that they will cover losses while the club play at Sixfields with negligible income, but the departures of the likes of Blair Adams and Mark Marshall to League One rivals suggest an inability to compete financially.
While some supporters were willing to give Sisu the benefit of the doubt in the hope that the judicial review might facilitate a resolution, there is now a strong feeling that they have wasted months on a pipe dream, further weakening the club's position in doing so. It is time for the Football League to re-evaluate the basis on which they granted the club permission to relocate temporarily to Northampton while the damage already inflicted remains reversible.
Tom Furnival-Adams
A good article that puts pressure on the powers that be to look again at what is happening at CCFC. The day we want these pieces shoved under the carpet is they day we lose hope and the day we come to accept the status quo. More articles of the same please. One day somebody out there will see our plight. It cant be fair it cant be right to go through this shit!
lapsed_skyblue
Well-Known Member
We do have what I believe is a reasoned and dispassionate document that analyses our position, namely the findings of the Judicial Review. Granted it is a bit lengthy but I would like to think that if any official of another team's fan club reads it the support from the rest of the football community can only be strengthened.
torchomatic
Well-Known Member
why not?
Hobo
Well-Known Member
Perhaps because it is the reality of the situation we are in.
torchomatic
Well-Known Member
Because this is the zillionth article that says the same thing. Readers will tut and think what a shame it is for5 minutes and then get on with their lives.
fernandopartridge
Well-Known Member
Just waiting for 'a prism of measured time' to rehash the same points for a full suit.
torchomatic
Well-Known Member
Complete with "brilliant article, surely that will finally make the FL act...." comments.
Obvious to who ? To us yes. I dont think that we are the intended end reader , its just been flaged up on our website . If you dont want to explain the facking obvious it perhaps wouldnt be a very good idea to go on the march
torchomatic
Well-Known Member
Stop being a baby. I'm not doing that at all. Just saying I don't think it will add anymore pressure on the parties involved.
fernandopartridge
Well-Known Member
Yep. What a great summary by schmmeee. If that don't make the powers that be aware of fp's wrong doings I don't know what will.
bigfatronssba
Well-Known Member
I think it's rather arrogant of some posters to assume that because they know all about the situation then everyone else does.
There's plenty of football fans out there that still aren't aware of all the facts, and they need to know.
There's plenty of football fans out there that still aren't aware of all the facts, and they need to know.
Hobo
Well-Known Member
Agree
I would say the majority of fans away from our club have a very limited understanding of what has happened and why.
Grendel
Well-Known Member
If this had happened to Gillingham what would you and Ron do about it?
torchomatic
Well-Known Member
Agree there's nothing wrong informing the wider world. My point was I don't think it will make the slightest difference to the FL or SISU.
I would still think most of the football community knows the score.
I would still think most of the football community knows the score.
torchomatic
Well-Known Member
Maybe start an 80 page thread such as the Portsmouth one saying "it's all their own fault"?
bigfatronssba
Well-Known Member
Take note of what happened, then if my own club decided to sell off its ground without funding in place I would protest as I could see what the outcome would be.
Equally if I seen an incompetent hedge fund trying to take over my club I would badger the FL to change its rules over who it issues golden shares to, quoting Gillingham as an example.
Gint11
Well-Known Member
How do you know I'm not going on the march?
Gint11
Well-Known Member
There is nothing arrogant about my point of view on this. Just bored of seeing these articles that repeat themselves generally.
Hobo
Well-Known Member
If I knew about it I would at least sign their on line petitions. But we have to accept the vast majority won't want to know because it doesn't affect them directly. That is human nature.
However a few at every club could make a difference, you never know!