skyblueman
New Member
Could be....
I wonder in that regard as to whether ACL have been quite clever here. My guess is that SISU, in withholding rents, knew that ACL would never wish to hit the club with a winding up order; due to the 'council closes the football club' headlines that would doubtless ensue.
Withholding thereby had certainly given ACL a headache, but has its magnitude also given them am excuse to call in third-parties to do their dirty work for them?
ok so ACL calling in D&T is likely to go 2 ways:
1. It's to add someone more official and threatening to force CCFC to pay the rent, which we can't do.
2.It potentially can lead to administration, which again will look for CCFC to pay the rent, which we can't do.
It's almost ironic that the club threatening the stadium with liquidation ( of CCFC as a threat against ACL who would lose the tennant) and it's actually now going the other way. We've dragged ACL down, and now they are in the mess they are going down completely and taking us with them. It's complete and utter mis-management and the real losers are the Council, the Higgs charity and of course the CCFC fans. I'm sure the Council will be ok, but I hope the charity can survive it.
Can anyone see a way out of this?
I wouldn't be so sure. My mate works at the club and the horror stories he tells me. He says there is literally no money for anything. Talk of bins not getting emptied, people not being allowed to move offices because it might incur costs. Real small sundry things not allowed to be bought.
This was all a few months ago.
When they start rationing the toilet rolls you know we are really in the shit.
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So he now reckons the mortgage payment is £1.6M. per an,seems to have an awful lot of information,only problem is ,its not accurate.
The appointment of Deloittes on behalf of the bankers of ACL is really bad news for SISU - whereas before SISU were only really playing brinkmanship with ACL's board - now they have some seriously determined organisations with a vested financial interest involved. These are really going to go after the debts and unlike maybe ACL they won't give a tuppenny-shite about what anyone thinks of them if they screw over CCFC in the process - they are real bastards and will go after CCFC like a rabid dog because after all CCFC doesn't have a leg to stand on over non-payment of the rent. You think there is any chance of any negotiation over this - think again
Pay up SISU or watch Yorkshire Bank wind up CCFC! You are not going to win this battle they have far bigger artillery than you'll ever have
How are ACL the bastards - perhaps if the club didn't sell its shares in the arena before it opened, then they wouldn't be in this shit.
It's CCFC's own falult - poor management.
Let ACL call the debt in - atleast we will have more concerts on the pitch!!!
Sadly the art of local investigative journalism is dead, but if if it wasn't , I think tha any attempt to get to the 'truth' in respect of CCFC would be akin to trying to complete a Rubik's Cube with boxing gloves, while blind-folded. The last remaining few people that care are the 9,000 hardcore support. The national media and press don't care because we're are not and never were fashionable. and the local media and press don't care because it isn't their club.why, can't the Coventry Telegraph, or BBC C & W, actually do some investigative reporting ?
and why, can't some national journo's get to the truth
its ok lads, 'massive Coventry fan' John Clarke is on the board. We will be fine
Tim Fisher was interviewed on BBC CWR this morning. Fisher has said this morning that Yorkshire bank have now stepped in and appointed Deloittes to restructure the debt of ACL.
Fisher went on to say that if Yorkshire bank call in the debts from ACL then ACL go under or the Council bail them out. Fisher says a council bail out would be unlikely. The consequence of ACL going under would be CCFC going under. All the above comments are my summary of what Fisher said rather than my thoughts!
He also was keen to blame the banks this morning for this situation and would not accept blame due to unpaid rent.
I may have missed some detail of what was said but that is my best recollection of the interview.
CWR have said they are trying to contact Yorkshire Bank and Deloittes for their comments on this situation
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