Football league to consider outstanding debt sisu owe acl (1 Viewer)

Ian1779 · Jul 11, 2014

Warwickhunt said:
They have satisfied the FL condition of paying the £590K into an account with the FL, is it just the case that they decide to pay the sodding money out? someone enlighten me please

So the club have now done their bit.

So all we need now is the JR appeal to be dropped and then negotiations can begin......... right?

Grendel · Jul 11, 2014

spider_ricoh said:
The escrow account is interesting - does this mean that the FL has the power to release the full amount if pigs fly and they decide in ACL's favour?

More to the point, whatever the FL decide, can either side appeal? :slap:

Of course the football league has the power - it decided the condition. Why do you care if ACL are entitled or not - why?

shmmeee · Jul 11, 2014

SimonGilbert said:
Here's the full statement from the Football League and our story.

http://www.coventrytelegraph.net/news/coventry-news/cash-row-between-coventry-city-7408563

(They actually sent it to us before the "heavyweight" BBC so that must make us super heavyweight?)

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Is it me, or does Geoffrey Robinson look like Magneto from X-Men?

Simon: Any chance of chasing Sandra Garlick about the current status of the Stadium Forum?

chiefdave · Jul 11, 2014

ArchieLittle said:
So from the CT article the £590k is based on 27p in the pound owed to ACL, so that means the total debt from CCFC to ACL was a little over 2 million quid.
Did the 300k get deducted from that?
So the maths must be ................

You would take the 300K off the original debt / compensation amount given by the administrator then recalculate the 27p in the pound offer which would mean SISU owe around £510K.

Not sure you can do that though. The 27p in the pound offer was never accepted so that figure of £590K doesn't really relate to anything other than it being an arbitrary figure the FL used. It certainly isn't a rent figure or an amount owed.

AFCCOVENTRY · Jul 11, 2014

shmmeee said:
Is it me, or does Geoffrey Robinson look like Magneto from X-Men?

Simon: Any chance of chasing Sandra Garlick about the current status of the Stadium Forum?

Can he lift sixfields out of Northampton with his magnetic powers and drop the stadium in the Coventry area?

That way we have a stadium in the Coventry area and sisu get to pay a fair rent for a shit ground.

Chipfat · Jul 11, 2014

If they decided the condition and had the power this money owed would of been paid a year ago!!..The FL have no power or stomach to fight certain owners, ACL like any other party are owed money by the club,,they should pay it or be made to..

RegTheDonk · Jul 11, 2014

Warwickhunt said:
They have satisfied the FL condition of paying the £590K into an account with the FL, is it just the case that they decide to pay the sodding money out? someone enlighten me please

Yes, please enlighten me too...so CCFC/SISU have done their bit and ACLs money is in some account and has to yet be paid to them, yes?

If so, who holds the keys to this account? Why has ACL not been paid yet?

Thanks for any guidance.

Grendel · Jul 11, 2014

Chipfat said:
If they decided the condition and had the power this money owed would of been paid a year ago!!..The FL have no power or stomach to fight certain owners, ACL like any other party are owed money by the club,,they should pay it or be made to..

They are owed nothing having rejected the CVA. The only money owed will be determined by the "gutless" football league. Without them ACL wouldn't get one penny and would not be entitled to it.

italiahorse · Jul 11, 2014

Grendel said:
Of course the football league has the power - it decided the condition. Why do you care if ACL are entitled or not - why?

.... Because it is the first step to get us back to the Ricoh ?

If you agree the new stadium will never be built then we will eventually be back at the Ricoh. There is no hope of that moving on until the debt is paid. Everybody agrees it needs to be paid it just needs to happen.

I assume you can work it out why SISU are stalling on this.

If you weren't wearing your SISU tinted glasses you would know that. Your hatred of everything to do with the council is blinding your judgement. I assume you are not a Coventry Council ratepayer.

shmmeee · Jul 11, 2014

Grendel said:
They are owed nothing having rejected the CVA. The only money owed will be determined by the "gutless" football league. Without them ACL wouldn't get one penny and would not be entitled to it.

You do wonder if this was the FL's ham fisted attempt at getting the parties together.

Grendel · Jul 11, 2014

RegTheDonk said:
Yes, please enlighten me too...so CCFC/SISU have done their bit and ACLs money is in some account and has to yet be paid to them, yes?

If so, who holds the keys to this account? Why has ACL not been paid yet?

Thanks for any guidance.

The league hold the keys and will decide who gets what. No threat of points deduction and no issue - which given ACL's statement yesterday - begs some questions.

shmmeee · Jul 11, 2014

Would you really be surprised if it turned out the FL had never told ACL the money was there?

I suppose at least ACL should be able to start negotiations now, right? Would be good if someone chased them for a statement after this.

It's been a while since the PR wars, I've missed it.

LastGarrison · Jul 11, 2014

SimonGilbert said:
Here's the full statement from the Football League and our story.

http://www.coventrytelegraph.net/news/coventry-news/cash-row-between-coventry-city-7408563

(They actually sent it to us before the "heavyweight" BBC so that must make us super heavyweight?)

Sent from my iPhone using Tapatalk

Yep, the newspaper equivalent of Audley Harrison.

oldskyblue58 · Jul 11, 2014

so whats the betting that following the FL board meeting 07/08/14 that the statement goes along the lines of "we discussed it, SISU explained and appealed it, we thought yeah why not, so we reduced the financial penalty".............. and the £590k was really a typo it should have read £5.90:facepalm:

Also wasn't there an assurance previously that the FL would sort it out after the AGM they had in June in Portugal. Cant help thinking they are playing for time hoping it will go away

skybluetony176 · Jul 11, 2014

LastGarrison said:
Yep, the newspaper equivalent of Audley Harrison.

That's quite a complement. Super heavy weight is an amateur boxing category and in Audley Harrisons last fight at that weight he won and took home the Olympic gold medal.

LastGarrison · Jul 11, 2014

skybluetony176 said:
That's quite a complement. Super heavy weight is an amateur boxing category and in Audley Harrisons last fight at that weight he won and took home the Olympic gold medal.

So you're calling them a bunch of amateurs?

shmmeee · Jul 11, 2014

oldskyblue58 said:
Cant help thinking they are playing for time hoping it will go away

They've been doing that for a year, why stop now?

RoboCCFC90 · Jul 11, 2014

So the Club have placed the funding into the Escrow Account, so why don't the Football League just state to ACL that this payment will be given to them on the basis that we get a season at the Ricoh while at the time opening discussions on a long term arrangement?

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play_in_skyblue_stripes · Jul 11, 2014

No rush then, it's hardly an important issue is it?

Total disgrace and ensures another season away from home.

Shows they don't care about SISU paying the money over.

This is controversial but A C L should drop their hard stance taken yesterday and deal with the reality.

SISU have tied this issue into knots and the FA are in no hurry to untangle the knots.

A C L should talk to SISU immediately and use the owed money as part of the negotiations. They may have to swallow some understandable principles for the greater good even if nowhere near the 590k is offered by SISU.

SISU won't pay the 590k, that's a plain sad reality.

What's important is getting Coventry back to Coventry. Good for all, A C L,city of Coventry as a whole,Coventry City supporters. I really don't care about SISU but it's good for them too.

Come on guys compromise, A C L and SISU. Deal with reality.

oldskyblue58 · Jul 11, 2014

RoboCCFC90 said:
So the Club have placed the funding into the Escrow Account, so why don't the Football League just state to ACL that this payment will be given to them on the basis that we get a season at the Ricoh while at the time opening discussions on a long term arrangement?

Sent from my iPhone using Tapatalk

No legal basis to do that though robo. The FL have no authority over ACL and cannot force them to accept any deal. The contract is between FL and Otium no one else. As such ACL might state that the £590k needs to be paid but there is no contractual relationship they can rely on to chase the payment. All they can do is pressure the FL to comply with its own rules and regulations. As we all know there in lies a problem because much of it is at FL discretion so can not be relied upon by 3rd parties

ArchieLittle · Jul 11, 2014

I'm sure a deal can be done, but it's asking a lot of ACL to say "forget all the money you owe us, that's all behind us, let's look forward"

What happens when SISU do it all again?

Snozz_is_god · Jul 11, 2014

play_in_skyblue_stripes said:
No rush then, it's hardly an important issue is it?

Total disgrace and ensures another season away from home.

Shows they don't care about SISU paying the money over.

This is controversial but A C L should drop their hard stance taken yesterday and deal with the reality.

SISU have tied this issue into knots and the FA are in no hurry to untangle the knots.

A C L should talk to SISU immediately and use the owed money as part of the negotiations. They may have to swallow some understandable principles for the greater good even if nowhere near the 590k is offered by SISU.

SISU won't pay the 590k, that's a plain sad reality.

What's important is getting Coventry back to Coventry. Good for all, A C L,city of Coventry as a whole,Coventry City supporters. I really don't care about SISU but it's good for them too.

Come on guys compromise, A C L and SISU. Deal with reality.

absolutely not, give in the bullies, no chance. you say ACL should drop their hard stance....rubbish.

They should step it up even more, go read this, before you post any more shit:

http://www.matrixlaw.co.uk/uploads/other/01_07_2014_01_48_11_01.07.14.pdf

Snozz_is_god · Jul 11, 2014

ArchieLittle said:
I'm sure a deal can be done, but it's asking a lot of ACL to say "forget all the money you owe us, that's all behind us, let's look forward"

What happens when SISU do it all again?

exactly they are not to be trusted I'm afraid, ACL know that, CCC know that, probably 80% of City fans know that.

RoboCCFC90 · Jul 11, 2014

oldskyblue58 said:
No legal basis to do that though robo. The FL have no authority over ACL and cannot force them to accept any deal. The contract is between FL and Otium no one else. As such ACL might state that the £590k needs to be paid but there is no contractual relationship they can rely on to chase the payment. All they can do is pressure the FL to comply with its own rules and regulations. As we all know there in lies a problem because much of it is at FL discretion so can not be relied upon by 3rd parties

Nothing contractual I agree, but they could at least put it towards both parties..

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Grendel · Jul 11, 2014

Snozz_is_god said:
exactly they are not to be trusted I'm afraid, ACL know that, CCC know that, probably 80% of City fans know that.

Ack are only owed what the league state. Legally they aren't owed one penny - do you geniunely not understand this?

SkyBlueSid · Jul 11, 2014

This is just more evidence of what a complete bunch of bastards are running the club. Their incompetence is exceeded only by their barefaced cheek.

If the FL do their job properly it will serve Sisu right if there is another transfer embargo and 10 point deduction. Why can't they just pay what they owe for once?

Nick · Jul 11, 2014

By rights didn't acl wave goodbye to the money when they rejected the cva but the fl added a condition.

If the fl turn round and say it's not owed now, isn't that it?

Is there anything legally from administration etc forcing it to be paid?

play_in_skyblue_stripes · Jul 11, 2014

Snozz_is_god said:
absolutely not, give in the bullies, no chance. you say ACL should drop their hard stance....rubbish.

They should step it up even more, go read this, before you post any more shit:

http://www.matrixlaw.co.uk/uploads/other/01_07_2014_01_48_11_01.07.14.pdf

Snozz, I'm hard line militant anti SISU by the way, maybe you not noticed in my previous posts? I hate SISU with a vengeance too on what they have done and tactics

Don't really like being told I post shit about trying to encourage something to get my club back home.

Sometimes you have to work with realities of the situation. SISU are not likely to pay 590K and the FL are hardly falling over themselves to force them to adhere to the agreement between SISU and the league regarding Golden Share.

Grendel · Jul 11, 2014

SkyBlueSid said:
This is just more evidence of what a complete bunch of bastards are running the club. Their incompetence is exceeded only by their barefaced cheek.

If the FL do their job properly it will serve Sisu right if there is another transfer embargo and 10 point deduction. Why can't they just pay what they owe for once?

What are you talking about? The money has been paid and the league will decide how much ACL are owed.

Snozz_is_god · Jul 11, 2014

play_in_skyblue_stripes said:
Snozz, I'm hard line militant anti SISU by the way, maybe you not noticed in my previous posts? I hate SISU with a vengeance too on what they have done and tactics

Don't really like being told I post shit about trying to encourage something to get my club back home.

Sometimes you have to work with realities of the situation. SISU are not likely to pay 590K and the FL are hardly falling over themselves to force them to adhere to the agreement between SISU and the league regarding Golden Share.

ACL are a business, if you owned them would you deal with sharks?

letsallsingtogether · Jul 11, 2014

Grendel ML also told us he was going to pay it personally to the council within the week when we met him?

How long ago was that now?

Don't take my word for it ask any of the other posters on here even one of your greatest fans was there.

Fuck me wouldn't believe him if he told me it snowed in Antarctica......

QUOTE=Grendel;732927]FFS so the club as I stated ages ago had placed the money in an escrow account, at least that's the end of the matter now[/QUOTE]

Grendel · Jul 11, 2014

letsallsingtogether said:
Grendel ML also told us he was going to pay it personally to the council within the week when we met him?

How long ago was that now?

Don't take my word for it ask any of the other posters on here even one of your greatest fans was there.

Fuck me wouldn't believe him if he told me it snowed in Antarctica......

QUOTE=Grendel;732927]

Was this before or after we learned if the £300,000 payment?

If the league decide to net that off then they legitimately will only pay the balance.

Anyway the report confirms the money is paid.

Broken Hearted Sky Blue · Jul 11, 2014

Funny how Sisu can use a third party ie The Football League when it suits them,but when a rent offer is put to them through a third party ie The Football League Its not a rent offer :thinking about:

limoncello · Jul 11, 2014

Broken Hearted Sky Blue said:
Funny how Sisu can use a third party ie The Football League when it suits them,but when a rent deal is put to them through a third party ie The Football League Its not a rent offer :thinking about:

The deal is between the FL and Sisu, so how can the FL be a third party?

letsallsingtogether · Jul 11, 2014

should't really matter they must have surely known of the guarantors, after all they are financial wizards, and this would not have passed them by even they can't be that incompetent surly?

Grendel said:
letsallsingtogether said:

Grendel ML also told us he was going to pay it personally to the council within the week when we met him?

How long ago was that now?

Don't take my word for it ask any of the other posters on here even one of your greatest fans was there.

Fuck me wouldn't believe him if he told me it snowed in Antarctica......

QUOTE=Grendel;732927]

Was this before or after we learned if the £300,000 payment?

If the league decide to net that off then they legitimately will only pay the balance.

Anyway the report confirms the money is paid.

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Football league to consider outstanding debt sisu owe acl (1 Viewer)

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