Free Radio report a Statutory Demand issued to CCFC (1 Viewer)

skyblueman · Dec 5, 2012

IMO I get the feeling from this that Fisher's statements last week were the 'straw' that broke the ACL camels back

wingy · Dec 5, 2012

He won't be getting his cheque here.

Sky Blues · Dec 5, 2012

One more question I have regards this line in the CET article: "The statutory demand covers the £1.1 million owed by CCFC to ACL in rent arrears of a total £1.6 million owed by the club."
I'm guessing the difference between £1.6million and £1.1million is the escrow account? If so, will ACL be happy to run with CCFC as paying tenants in the long-term without that being refilled? Or is it a case of one step at a time and a suspicion that asking for the full £1.6million now might be more likely to tip the club's owners towards declaring the club insolvent?

wingy · Dec 5, 2012

ACL CEO on CWR after six.

ashbyjan · Dec 5, 2012

At the Sky Blue Trust meeting on Monday it was announced that we would be starting a Fighting Fund in case of administration/liquidation etc. This fund is not there to raise money to buy the club or any shares but is designed to raise money to cover costs such a solicitors fees, accountants fees etc that will need to be covered from day one of any attempt to rescue the club. Donations can now be given directly on the Trust website www.skybluetrust.co.uk

Hopefully SISU will do a deal with ACL but these are dark times and there can be no better time for all Coventry fans to unite and join the Trust - the dark day may be closer than any of us imagined and the Trust will have a part to play in the clubs future. There is strength in numbers - may well be the best £1 you ever spend.

Sky Blues · Dec 5, 2012

ashbyjan said:
No after 1.6 million

Are you saying ACL are after the full amount?

wingy · Dec 5, 2012

Could they play this out through the January windw so as to offload any saleable players ?

Would there be any point or gain in this?

slyblue57 · Dec 5, 2012

Can nt honestly see why people are getting so worked up about this "threat" from ACL etc.
We ve been going into administration / liquidation etc for about 3 years now according to
OSB and others.(No disrespect to OSB) There is no chance that Coventry City FC will be
locked out of the Ricoh or put into administration by ACL / Higgs Trust / Council. They would
be a laughing stock, having an arena with a fantastic football pitch / stadium, destroying the local football
team. Sisu are playing hardball in hard times. They are good at these games, not good at football management.
I will await the 21 days with no worries whatsoever. Some agreement will be reached.
Pusb

mattylad · Dec 5, 2012

And here it is the SISU exit strategy, the club gets declared insolvent and SISU get what few assets are left to sell off. I just hope that the Higgs trust probably never getting its funds back does not cripple its charity work

skyblueman · Dec 5, 2012

slyblue57 said:
Can nt honestly see why people are getting so worked up about this "threat" from ACL etc.
We ve been going into administration / liquidation etc for about 3 years now according to
OSB and others.(No disrespect to OSB) There is no chance that Coventry City FC will be
locked out of the Ricoh or put into administration by ACL / Higgs Trust / Council. They would
be a laughing stock, having an arena with a fantastic football pitch / stadium, destroying the local football
team. Sisu are playing hardball in hard times. They are good at these games, not good at football management.
I will await the 21 days with no worries whatsoever. Some agreement will be reached.
Pusb

I agree this on it's own isn't enough to end game it for SISU - there will be a deal and money will be paid

Sky Blues · Dec 5, 2012

slyblue57 said:
Can nt honestly see why people are getting so worked up about this "threat" from ACL etc.
We ve been going into administration / liquidation etc for about 3 years now according to
OSB and others.(No disrespect to OSB) There is no chance that Coventry City FC will be
locked out of the Ricoh or put into administration by ACL / Higgs Trust / Council. They would
be a laughing stock, having an arena with a fantastic football pitch / stadium, destroying the local football
team. Sisu are playing hardball in hard times. They are good at these games, not good at football management.
I will await the 21 days with no worries whatsoever. Some agreement will be reached.
Pusb

Don't you think that having a client repeatedly not paying their rent risks making them a laughing stock?

mattylad · Dec 5, 2012

slyblue57 said:
Can nt honestly see why people are getting so worked up about this "threat" from ACL etc.
We ve been going into administration / liquidation etc for about 3 years now according to
OSB and others.(No disrespect to OSB) There is no chance that Coventry City FC will be
locked out of the Ricoh or put into administration by ACL / Higgs Trust / Council. They would
be a laughing stock, having an arena with a fantastic football pitch / stadium, destroying the local football
team. Sisu are playing hardball in hard times. They are good at these games, not good at football management.
I will await the 21 days with no worries whatsoever. Some agreement will be reached.
Pusb

most business don't incur the unrecoverable £1500/£2000 costs of issuing a stat demand unless you are going to go through with the bankruptcy petition at the 21 day point.

wingy · Dec 5, 2012

so the clubs response includes being a franchise playing at another town

Covstu · Dec 5, 2012

This is on sky sports news also, really no shock. They must have thought that this was the only likely option, surely SISU must have knew this was going to happen! If not they obviously thought they could either try to bully ACL to give in or they were that arrogant they thought they would get away with it!!

Sky Blues · Dec 5, 2012

CWR - Cov statement: "The club's viability depends on it finding an alternative home ground where it can afford to pay."

mattylad · Dec 5, 2012

Sky Blues said:
Are you saying ACL are after the full amount?

by law they would have to go after the full amount otherwise a judgement could be defended based on that fact.

sw88 · Dec 5, 2012

Worrying stuff! It's almost like we've gone a full circle!

I didnt think the club could be run any worse than when Richardson was Chairman and the McGinnity but im being proven wrong!

Sky Blues · Dec 5, 2012

mattylad said:
by law they would have to go after the full amount otherwise a judgement could be defended based on that fact.

I was asking Jan why he was saying £1.6million when the CET article and ACL CEO on CWR just now said they are seeking £1.1million. I have queried earlier in this thread whether the difference is the escrow.

Sky Blues · Dec 5, 2012

ACL CEO: "What happens next is up to SISU and CCFC."
CWR: What happens after 21 days?
ACL CEO: "We won't turf out, but we will go to the next stage of legal action."

coop · Dec 5, 2012

Looks like it's down walsgrave park for the Shrewsbury game then

sw88 · Dec 5, 2012

Why are the club / SISU disappoints in ACL? Surely if they were in ACL's shoes they'd be doing the same?

I thought things were going to get better when Joy was becomming more 'hands on' but I think things have gotten worse!

Being back Onye Igwe anyone?

sw88 · Dec 5, 2012

Sky Blues said:
ACL CEO: "What happens next is up to SISU and CCFC."
CWR: What happens after 21 days?
ACL CEO: "We won't turf out, but we will go to the next stage of legal action."

.......and let the court decide. And when ACL continue to be stupborn and refuse to pay, the court will evict them.....

valiant15 · Dec 5, 2012

Just line all the useless bastards up against the wall of fame and shoot em.

ccfclinney · Dec 5, 2012

CCFCS REPLY :

We are disappointed by ACL’s actions today to issue a statutory demand to Coventry City Football Club rather than, as we had requested, sitting down with us to negotiate a level of rent which the Club can afford and which is in line with the rent paid by other clubs.

For reference, ACL has been charging CCFC an annual rent of £1.28 million, which we understand is the highest in both League One and the Championship.
We understand that the average annual rent paid by League One clubs (excluding CCFC) is less than £170,000 and that the average in the Championship is less than £290,000. All other clubs which rent their stadia get full access to 100% of match day food, beverage and car parking revenues, unlike CCFC.

The Club’s objective in requesting these negotiations with ACL has been only to bring about a state of commercial normality, where CCFC pays the same level of rent and has access to the same type of ancillary revenues as the other football clubs with which it competes. It is unsustainable for CCFC to be put at a severe financial disadvantage to its peers.

While we have been seeking to normalise the rent, we have continued to pay match day costs to ensure that ACL is not left out-of-pocket. These costs amount to over £250,000 per season, much more than the average rent paid by League One clubs.

In addition to defraying ACL’s match day costs, the Club has been subsidising ACL’s general overheads ever since the Sky Blues started playing at the Ricoh Arena, amounting to many millions of pounds over seven years.
The Club remains committed to the city and people of Coventry.

However, its viability depends on it finding an alternative home ground where it can afford to play.

Sky Blues · Dec 5, 2012

Full club statement now online: http://www.ccfc.co.uk/news/article/club-statement-051212-527868.aspx

"We are disappointed by ACL’s actions today to issue a statutory demand to Coventry City Football Club rather than, as we had requested, sitting down with us to negotiate a level of rent which the Club can afford and which is in line with the rent paid by other clubs.

For reference, ACL has been charging CCFC an annual rent of £1.28 million, which we understand is the highest in both League One and the Championship.
We understand that the average annual rent paid by League One clubs (excluding CCFC) is less than £170,000 and that the average in the Championship is less than £290,000. All other clubs which rent their stadia get full access to 100% of match day food, beverage and car parking revenues, unlike CCFC.

The Club’s objective in requesting these negotiations with ACL has been only to bring about a state of commercial normality, where CCFC pays the same level of rent and has access to the same type of ancillary revenues as the other football clubs with which it competes. It is unsustainable for CCFC to be put at a severe financial disadvantage to its peers.

While we have been seeking to normalise the rent, we have continued to pay match day costs to ensure that ACL is not left out-of-pocket. These costs amount to over £250,000 per season, much more than the average rent paid by League One clubs.

In addition to defraying ACL’s match day costs, the Club has been subsidising ACL’s general overheads ever since the Sky Blues started playing at the Ricoh Arena, amounting to many millions of pounds over seven years.
The Club remains committed to the city and people of Coventry.

However, its viability depends on it finding an alternative home ground where it can afford to play."

coop · Dec 5, 2012

We are in the shit it is up to SISU they have to pay at least half or they really don't give a shit about CCFC

ccfclinney · Dec 5, 2012

Can you really blame the owners for trying to find an alternative ground to play at when they are paying 9x as much as other league one clubs !
Id much rather have the club playing in a smaller ground that we can fill, and the club make money from the food etc. and buy players like mcgoldrick to make a serious case for promotion,
This rent is unsustainable to a lot of clubs and ccfc is no different. OUR OWN COUNCIL is crippling OUR CLUB!
Is it fair to give CCFC so much stick ?
PUSB
LETS ALL SING TOGETHER

SkyBlueCharlie · Dec 5, 2012

sw88 said:
.......and let the court decide. And when ACL continue to be stupborn and refuse to pay, the court will evict them.....

Think you've got your knickers in a twist there old boy. it's SISU refusing to pay not ACL.

CarpyCov84 · Dec 5, 2012

Fuck coventry city council !!!!

wingy · Dec 5, 2012

Fuck SISU.......

coop · Dec 5, 2012

ACL have stated that they were in talks with SISU until Monday so it sounds like they asked for a certain amount and SISU have said no.I agree we shouldnt pay this much for rent without any chance of money apart from ticket sales.but if you were owed million pound you'd want it back

deanocity3 · Dec 5, 2012

The clown from Sisu has been found

skybluesteve76 · Dec 5, 2012

I think they might not pay but instead find a new ground?

ccfclinney · Dec 5, 2012

wingy said:
Fuck SISU.......

Why fuck sisu ?
I dont think any owners in league one or the championship would pay this rent its massively over priced. and they dont even get money for food, drinks, car park
council being greedy

FUCK THE COUNCIL

Sky Blues · Dec 5, 2012

Dear CCFC,
Regarding paragraph 2 of your statement:
Who agreed that rent and who knew about it when purchasing the club?
Why is the club renting a stadium rather than owning its own?
Why does the club not get 100% of match day food, beverage and car parking revenues?
I think the people of Coventry know the answers to more of those questions than you give them credit for.
Yours,
Sky Blues

Free Radio report a Statutory Demand issued to CCFC (1 Viewer)

New Member

Well-Known Member

Active Member

Well-Known Member

Well-Known Member

Active Member

Well-Known Member

Well-Known Member

Member

New Member

Active Member

Member

Well-Known Member

Well-Known Member

Active Member

Member

Chief Commentator!

Active Member

Active Member

Well-Known Member

Chief Commentator!

Chief Commentator!

New Member

Well-Known Member

Active Member

Well-Known Member

Well-Known Member

Well-Known Member

New Member

Well-Known Member

Well-Known Member

New Member

New Member

Well-Known Member

Active Member

Users who are viewing this thread

Privacy & Transparency

Privacy & Transparency