Implications of ACL rejecting CVA (1 Viewer)

SkyBlue_Taylor said:

"The Board of ACL has already issued a Statutory Demand for payment, the deadline for which has long since passed, and is now looking at its legal options. These legal options include petitioning the courts to grant an order to wind up CCFC and starting off the process of placing the Club into compulsory liquidation."

http://www.coventrycity-mad.co.uk/n...or_acl__knatchbullhugessen_779242/index.shtml

The context doesn't matter, it's the fact that he said it, like Fisher, yet people ignore this. Both sides are guilty for this mess - the sooner the fans realise, the better, as it's only us who will ever lose.

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The context does matter; of course. How can you state that?

SISU were in breach of contract - illegally withholding rent, and a court had presided over the transgression. ACL were stating the legal avenues open to them; by means of SISU understanding the seriousness of the position they had manufactured. Having stated the seriousness of the situation, there are olive branches too:

'Joy Seppala and her colleagues need finally to take responsibility for their actions, pay the rent which is lawfully owed, and come to the table with the Board of ACL to present a realistic business and financing plan which will safeguard the future of CCFC.'

And...

'My appeal to Sisu is therefore a simple one; please come and have a sensible conversation'

But they didn't. Why? Because as has been discussed many times on here, their true intent was to distress ACL into submission - hence the judicial review - and capitalise on the Ricoh. This addressed in the quote:

'We won’t be bullied or harassed by anyone trying to take our share in the business for less than its true value. But, if any third party makes a sensible and realistic offer, then we will of course give it the consideration it merits.'

Constantly harping back to apportion blame on a 50:50 basis, or anything even close thereto is incredible. How can you negotiate with a party who's sole ambition is to break you?

Warwickhunt said:

8 Leagues below where we are

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Darlington went into Liquidation last season, and the football league dropped them 4 leagues. Changed their name to 1983 Darlington. Last season won their league and moved one step closer.

ashbyjan said:

I think there are two threads getting mixed up here. PWKH is saying that the option is in Ltd and when Otium having secured CCFC Ltd (as we all suspect they will) liquidate CCFC Ltd the option to buy the Higgs shares dies with that liquidation.

As I understand it the rejection of a CVA does not mean the death of CCFC it would mean a 15 pt or so (at FL discretion) penalty for exiting administration without a CVA. As things stand the golden share is likely to be given to Otium as they have bought CCFC Ltd from administrator.

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I understood PWKH to say that Otium were buying assets from CCFC Ltd - not the company itself. If that were the case this would mean that the Football League would have to approve a transfer of their share to another company.

Once the assets in CCFC Ltd are sold, the administrator will pay the creditors and liquidate the company (close it down).

An administrator doesn't have to have a CVA - he can still push through a sale to the parties that provide the most to the creditors. The CVA is part of the Football Leagues rules. Without it, the club might be deducted 15 points.

BrisbaneBronco said:

Then my next question would be

If a new club is set up, what would be the entry point in FL ladder.

There must be common sense here. Liquidation would not be the result of league debts/Inland Revenue debts etc, just a petty rent issue.

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Probably midland combination division 2, we won't set special treatment like Rangers

Skybluerevolution (Pt2) said:

Rangers do not exist any more they died - They cheated many in Scottish football for years and got their just desserts, their web was very tangled non payment of tax, side contracts for players they couldn't afford ect...

btw when THE RANGERS win a European Cup...they can talk of being successful, at this moment in time they have won one league title...and if we liquidate we lose our history too, but I would rather that than stay with shitsu!!

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as a football fan i see new rangers as the old rangers, tehcnically they may not have the past trophies but in my mind they do, i think alot of fans think like this

if we did start AFC coventry, i would think of them as ccfc

We can't loose our history that is ours we were there they were not let them keep the history they have from when they took over.

That is one thing shitsu can not take away from us...........

Many countries have been torn apart in the last 20 years and do not exist those people still have there history as long as they are alive and people remember.

We

Skybluerevolution (Pt2) said:

Rangers do not exist any more they died - They cheated many in Scottish football for years and got their just desserts, their web was very tangled non payment of tax, side contracts for players they couldn't afford ect...

btw when THE RANGERS win a European Cup...they can talk of being successful, at this moment in time they have won one league title...and if we liquidate we lose our history too, but I would rather that than stay with shitsu!!

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Sky Blue Pete said:

Mate-there is blame to be apportioned but it is not equal. Just accepting that would make you seem more credible

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I know the blame isn't equal, I can't remember ever stating that was the case?

It's not ACL's fault that McGinity agreed to a stupid rent deal, but they sure could've helped CCFC in their time of need, after all, a successful CCFC is in their interests because it is beneficial to the City, in particular, the Arena complex, and we'd be able to pay the full amount of rent instead of a slashed price/refusing to pay anything.

Mary_Mungo_Midge said:

The context does matter; of course. How can you state that?

SISU were in breach of contract - illegally withholding rent, and a court had presided over the transgression. ACL were stating the legal avenues open to them; by means of SISU understanding the seriousness of the position they had manufactured. Having stated the seriousness of the situation, there are olive branches too:

'Joy Seppala and her colleagues need finally to take responsibility for their actions, pay the rent which is lawfully owed, and come to the table with the Board of ACL to present a realistic business and financing plan which will safeguard the future of CCFC.'

And...

'My appeal to Sisu is therefore a simple one; please come and have a sensible conversation'

But they didn't. Why? Because as has been discussed many times on here, their true intent was to distress ACL into submission - hence the judicial review - and capitalise on the Ricoh. This addressed in the quote:

'We won’t be bullied or harassed by anyone trying to take our share in the business for less than its true value. But, if any third party makes a sensible and realistic offer, then we will of course give it the consideration it merits.'

Constantly harping back to apportion blame on a 50:50 basis, or anything even close thereto is incredible. How can you negotiate with a party who's sole ambition is to break you?

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What was said, was said, you, me, or anyone can't deny that, PWKH said 'that ACL were petitioning for a winding up order, and then starting the process in placing the club into compulsory liquidation' - those were his words on this website.

I said the context doesn't matter, as in did he say it in retaliation to Fisher, or ACL didn't think it wouldn't get that far because they had PH4 lined up, or whatever, it was still said. Fisher said it, you and others go up in arms, despite coming from a guy who many people don't believe a word he says - yet that's the only words they believed? - he could've been playing brinkmanship with ACL, the risk of losing their city's football club + loss of income etc. we don't know, either way, I can say I took both threats in an equal manner - I personally thought both were empty threats, too much to lose - but you and others continue to dismiss PHKW's statement when happily blowing Fisher's comments out of proportion - that's hypocrisy, and it wouldn't be the first time either.

BrisbaneBronco said:

Then my next question would be

If a new club is set up, what would be the entry point in FL ladder.

There must be common sense here. Liquidation would not be the result of league debts/Inland Revenue debts etc, just a petty rent issue.

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Birmingham county F.A's "official" answer was midlands combination division 2, but we were not discussing formation as a result of liquidation. It was a very positive conversation however, and they said they would work with us and support us.

B.C.F.A. Did say that, if we choose to go down this route, we should start working on it a.s.a.p.

There are other leagues, governed by different county F.A's, that we could apply to! Wimbledon didn't go with their initial first choice.

https://www.facebook.com/Coventry1883

Chester FC Fan said:

Not necessarily... When my club Chester City was liquidated, we appealed
the decision to demote us 8 leagues. The F.A upon hearing our appeal
overturned the orignal rule and we were demoted three divisions. Since
reforming as a fan owned club, we have achieved 3 promotions in our first
3 seasons and will start life this season in the Football Conference... the
league we were in orignally when the club was liquidated.

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That's good to know!

covcity4life said:

as a football fan i see new rangers as the old rangers, tehcnically they may not have the past trophies but in my mind they do, i think alot of fans think like this

if we did start AFC coventry, i would think of them as ccfc

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Same here, and AFC Wimbledon as Wimbledon, the history is ours not sisu's!

SkyBlue_Taylor said:

What was said, was said, you, me, or anyone can't deny that, PWKH said 'that ACL were petitioning for a winding up order, and then starting the process in placing the club into compulsory liquidation' - those were his words on this website.

I said the context doesn't matter, as in did he say it in retaliation to Fisher, or ACL didn't think it wouldn't get that far because they had PH4 lined up, or whatever, it was still said. Fisher said it, you and others go up in arms, despite coming from a guy who many people don't believe a word he says - yet that's the only words they believed? - he could've been playing brinkmanship with ACL, the risk of losing their city's football club + loss of income etc. we don't know, either way, I can say I took both threats in an equal manner - I personally thought both were empty threats, too much to lose - but you and others continue to dismiss PHKW's statement when happily blowing Fisher's comments out of proportion - that's hypocrisy, and it wouldn't be the first time either.

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That is not what I wrote. You feel that have an argument to make, that is fine but don't use a fabrication to support it. There are so many posts on here that few would bother to go back to check if you are actually quoting something that I wrote or as in this case, making it up.
What you say therefore is out and out rubbish.

But they are not, in my mind I'm a great lover...not sure what the wife thinks...

covcity4life said:

as a football fan i see new rangers as the old rangers, tehcnically they may not have the past trophies but in my mind they do, i think alot of fans think like this

if we did start AFC coventry, i would think of them as ccfc

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sky.blue taylor you speak fucking rubbish mate stop guessing and stick to facts mate you look stupid

its not anyone's if we liquidate - it belongs to the old company/club..you can not transfer or sell history to a new person, team or company. if we are liquidated the history stops there - finished. you may want to believe it does not but you would be kidding yourself - like The Rangers fans kid them selves, sorry I am a Cov fan too and it guts me to say it...just because you say it and others agree doesn't make it true.

Gary.j said:

Same here, and AFC Wimbledon as Wimbledon, the history is ours not sisu's!

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PWKH said:

That is not what I wrote. You feel that have an argument to make, that is fine but don't use a fabrication to support it. There are so many posts on here that few would bother to go back to check if you are actually quoting something that I wrote or as in this case, making it up.
What you say therefore is out and out rubbish.

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Do us all a favour and reject the cva.

SkyBlue_Taylor said:

What was said, was said, you, me, or anyone can't deny that, PWKH said 'that ACL were petitioning for a winding up order, and then starting the process in placing the club into compulsory liquidation' - those were his words on this website.

I said the context doesn't matter, as in did he say it in retaliation to Fisher, or ACL didn't think it wouldn't get that far because they had PH4 lined up, or whatever, it was still said. Fisher said it, you and others go up in arms, despite coming from a guy who many people don't believe a word he says - yet that's the only words they believed? - he could've been playing brinkmanship with ACL, the risk of losing their city's football club + loss of income etc. we don't know, either way, I can say I took both threats in an equal manner - I personally thought both were empty threats, too much to lose - but you and others continue to dismiss PHKW's statement when happily blowing Fisher's comments out of proportion - that's hypocrisy, and it wouldn't be the first time either.

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You talk as though you are just a teenager that knows fook all about life and reality :wave:

no sky blue taylor is right on the money

i suppose astute was one of those posters who thought admin was gonna solve all our issues?

Skybluerevolution (Pt2) said:

its not anyone's if we liquidate - it belongs to the old company/club..you can not transfer or sell history to a new person, team or company. if we are liquidated the history stops there - finished. you may want to believe it does not but you would be kidding yourself - like The Rangers fans kid them selves, sorry I am a Cov fan too and it guts me to say it...just because you say it and others agree doesn't make it true.

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it doesnt matter if its true technically, if it doesnt bother the fans its a non issue

rangers fans will celebrate past and future achievements the same way, life goes on

it may bother you,but really that makes you the unlucky one even if you are also the correct one.

afc wimbledon comaprison is a great one, when i watched them vs mk dons in cup i thought back to the days of earle,gayle,ekoku,perry,sullivan etc even if they aint strictly speaking the same entity.

Before anyone says anything about the source, it is still a report with "Quotes" from both sides.
http://www.coventrycity-mad.co.uk/n...y_administration_statement_787428/index.shtml

<p>

Skybluerevolution (Pt2) said:

its not anyone's if we liquidate - it belongs to the old company/club..you can not transfer or sell history to a new person, team or company. if we are liquidated the history stops there - finished. you may want to believe it does not but you would be kidding yourself - like The Rangers fans kid them selves, sorry I am a Cov fan too and it guts me to say it...just because you say it and others agree doesn't make it true.

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Ccfc ltd has only existed since 1995, you can't really say that is the club. The club is whatever we the fans class it as.

The current rangers won multiple spl titles, Afc Wimbledon won the 1988 FA cup, and the current Accrington Stanley were founder members of the football league.

It doesn't bother me at all, if your happy with that its fine...my point is and has always been that its living a lie...

covcity4life said:

it doesnt matter if its true technically, if it doesnt bother the fans its a non issue

rangers fans will celebrate past and future achievements the same way, life goes on

it may bother you,but really that makes you the unlucky one even if you are also the correct one.

afc wimbledon comaprison is a great one, when i watched them vs mk dons in cup i thought back to the days of earle,gayle,ekoku,perry,sullivan etc even if they aint strictly speaking the same entity.

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bigfatronssba said:

<p>

Ccfc ltd has only existed since 1995, you can't really say that is the club. The club is whatever we the fans class it as.

The current rangers won multiple spl titles, Afc Wimbledon won the 1988 FA cup, and the current Accrington Stanley were founder members of the football league.

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How old is Holdings again?

And what about the fans that followed Wimbledon to Mk Dons, they probably class Mk dons as winning the fa cup.

bigfatronssba said:

<p>

Ccfc ltd has only existed since 1995, you can't really say that is the club. The club ithe currents whatever we the fans class it as.

The current rangers won multiple spl titles, Afc Wimbledon won the 1988 FA cup, and the current Accrington Stanley were founder members of the football league.

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The Rangers have won 1 league title, if they are the same club, then I suppose they should go and pay the millions they owe to small bushiness and charities in Scotland...oh they cant do that because they are new club and are not liable for the debt...you can not have it both ways they are in a new league with a new name and new players, there old ones walked away free as a bird.....same club my arse!

covcity4life said:

no sky blue taylor is right on the money

i suppose astute was one of those posters who thought admin was gonna solve all our issues?

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You are right on both lines.

no sky blue taylor is right on the money - Correct. There is only one Sky Blue Taylor. And he is wrong.

i suppose astute was one of those posters who thought admin was gonna solve all our issues? - Most of us know Admin could have sorted our problems. But SISU appointed their own personal Administrator who they have used a few times previously in separate matters. They kept hold of the club by shifting I.O.U's about. A new owner could have solved our problems. But you are just the fool you are trying to look at the moment if you think there is any guarantee with a new owner.

Skybluerevolution (Pt2) said:

The Rangers have won 1 league title, if they are the same club, then I suppose they should go and pay the millions they owe to small bushiness and charities in Scotland...oh they cant do that because they are new club and are not liable for the debt...you can not have it both ways they are in a new league with a new name and new players, there old ones walked away free as a bird.....same club my arse!

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I do hate to disagree with you me old son but the history is mine and yours not theirs. For me from my first game at the age of four 54 years ago Jimmy Hill promotions the Wolves game the cup run the entertainers relegation to Championship etc I was there they weren't
so thats my history not theirs and as for owing money to a charity:thinking about:
And we are not falling out over this I got excited at our last man hug

stupot07 said:

How old is Holdings again?

And what about the fans that followed Wimbledon to Mk Dons, they probably class Mk dons as winning the fa cup.

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No they dont

PWKH said:

That is not what I wrote. You feel that have an argument to make, that is fine but don't use a fabrication to support it. There are so many posts on here that few would bother to go back to check if you are actually quoting something that I wrote or as in this case, making it up.
What you say therefore is out and out rubbish.

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Originally Posted by SkyBlue_Taylor:
"The Board of ACL has already issued a Statutory Demand for payment, the deadline for which has long since passed, and is now looking at its legal options. These legal options include petitioning the courts to grant an order to wind up CCFC and starting off the process of placing the Club into compulsory liquidation."

http://www.coventrycity-mad.co.uk/news/tmnw/even_more_stability_for_acl__knatchbullhugessen_77 9242/index.shtml

The context doesn't matter, it's the fact that he said it, like Fisher, yet people ignore this. Both sides are guilty for this mess - the sooner the fans realise, the better, as it's only us who will ever lose.
He does list it as a legal option open to them if Sisu continue not to pay the rent, but says nobody wants it. I'll include the context so people can make up their own mind:

Even More Stability For ACL - Knatchbull-Hugessen
16 Jan 2013

The Higgs Charity View
Peter Knatchbull-Hugessen, clerk to the Trustees of the Alan Edward Higgs Charity, feels that the £14m bail out of the Ricoh Arena by Coventry City Council has given Arena Coventry Limited even more stability.
Mr Knatchbull-Hugessen posted on Sky Blues Talk:
"It has been difficult keeping quiet, having information and not being able to share it. The Coventry Telegraph will have more I am sure about what has happened this afternoon.

"We have been working hard to do what any business should do when faced with such a serious challenge as ACL has faced with Sisu’s rent strike. I am sure that many of you will have heard the news that Coventry City Council has made an agreement with Yorkshire Bank for the Council to pay off the debt Arena Coventry Limited previously owed to the Bank. The Council will now make a loan to ACL of £14.4m, which will make repayments to the Council at an interest rate much more affordable for ACL as a business. You will have other questions about how much, how long, what rate of interest etc, at the moment I am unable to answer as they remain under commercial confidentiality.

"The agreement gives ACL’s already strong business even more stability. It means that the Board of Directors can plan for the long term with more confidence than ever. The people of Coventry will also benefit as the interest on the repayments made by ACL will be available to the Council to spend on goods and services. This is a decisive move by the Council to secure the long-term future of the Ricoh Arena as an asset for the City of Coventry and a decision which ought to be welcomed and applauded by everyone posting on this forum.I am already receiving calls and messages asking me what this means with regard to the situation with Coventry City Football Club. The short answer is that nothing has changed. CCFC, under the ownership of Joy Seppala and her Sisu staff including Tim Fisher, has a legal obligation to pay its stadium rent. The Board of ACL has already issued a Statutory Demand for payment, the deadline for which has long since passed, and is now looking at its legal options. These legal options include petitioning the courts to grant an order to wind up CCFC and starting off the process of placing the Club into compulsory liquidation. Nobody wants this to be the outcome, but the clock is ticking and now is the time when Joy Seppala and her colleagues need finally to take responsibility for their actions, pay the rent which is lawfully owed, and come to the table with the Board of ACL to present a realistic business and financing plan which will safeguard the future of CCFC.

"And why wouldn’t they want to do this? The City Council has just presented them with an opportunity to build a better business relationship with an outstanding business which is in an enviable and sustainable financial position. Everyone at ACL is absolutely committed to seeing the Sky Blues play at the Ricoh Arena for many years to come. My appeal to Sisu is therefore a simple one; please come and have a sensible conversation. And please stop trying to blame all the Club’s financial problems on the stadium rent, while drawing misleading and inaccurate comparisons between the rent paid by CCFC and that paid by other Football League One clubs, none of whom enjoy the benefits of a facility comparable to the Ricoh Arena.From the Higgs Charity’s perspective as a shareholder, we are completely in support of the Council’s move today. I am sure there will be speculation also about the Charity’s intentions in relation to holding on to its stake holding in ACL. Some of you may even feel that this would be a sensible time for Sisu to make a realistic offer to assume the Charity’s share.Again our position is unchanged. The trustees are proud to be part of ACL and we’re committed to the Arena for as long as it takes. We won’t be bullied or harassed by anyone trying to take our share in the business for less than its true value. But, if any third party makes a sensible and realistic offer, then we will of course give it the consideration it merits. Once again I apologise for the length of this update. I would of course have preferred to share this sooner but I am bound by the obligations of the law and of confidentiality on this hugely sensitive matter. As ever, I am happy to answer questions where I am able to do so."

If ACL reject it, we will not be liquidated, just means we cannot exit admin and we will start next season -15 points.
Appleton will probably put the club up for sale again.

simple_simon said:

If ACL reject it, we will not be liquidated, just means we cannot exit admin and we will start next season -15 points.
Appleton will probably put the club up for sale again.

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Why will we "not be liquidated"?

BrisbaneBronco said:

Then my next question would be

If a new club is set up, what would be the entry point in FL ladder.

There must be common sense here. Liquidation would not be the result of league debts/Inland Revenue debts etc, just a petty rent issue.

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Wild guess but I would say Blue Square North

jimmyhillsfanclub said:

I've asked the following question several times, but as yet, no-one has been able to answer it.

If ACL reject the CVA.....Then initially CCFC remain in Admin.

The FL can then "make CCFC an offer" to exit Admin.....but with additional penalties such as further points deductions etc.


My question: At this point, can CCFC refuse this "offer" from the FL & continue to operate in Admin or is it an "offer they can't refuse"?

Anyone any idea??

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I 'think' that they can remain in admin, for next season. If they don't come out of admin by the end of the season (possibly the start of the next season) they have their licence removed by the FL. I don't think any club has ever reached that point, so who knows what the FL would do. If they come out of admin without the CVA then a heavy points deduction probably 15 - 30 I seem to remember Leeds being threaten with. Could be well off the mark and more than happy to be corrected.

SkyBlue_Taylor said:

I know the blame isn't equal, I can't remember ever stating that was the case?

It's not ACL's fault that McGinity agreed to a stupid rent deal, but they sure could've helped CCFC in their time of need, after all, a successful CCFC is in their interests because it is beneficial to the City, in particular, the Arena complex, and we'd be able to pay the full amount of rent instead of a slashed price/refusing to pay anything.

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I seem to remember they did help the club in their time of need they built the stadium:facepalm:

skybluericoh said:

I seem to remember they did help the club in their time of need they built the stadium:facepalm:

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For buying a share 3 times undervalue - massive favour done! The share was worth 18.5m, imagine what 18.5 could've got? Higgs purchased it for 6m.

PWKH said:

That is not what I wrote. You feel that have an argument to make, that is fine but don't use a fabrication to support it. There are so many posts on here that few would bother to go back to check if you are actually quoting something that I wrote or as in this case, making it up.
What you say therefore is out and out rubbish.

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It's a direct quote from you, for all to see, I don't know how you can deny this, unless you're going to tell a direct lie.

Are you saying CovMad and the CET are making fabrications? They posted this on their websites.

I'm sorry, but you're lying.

From: http://www.football.co.uk/coventry_...or_acl_-_knatchbull-hugessen_rss3666925.shtml and http://www.coventrycity-mad.co.uk/n...or_acl__knatchbullhugessen_779242/index.shtml and http://www.coventrytelegraph.net/news/coventry-news/ricoh-deal-alan-edward-higgs-2822886 - are they liars to!?

The Higgs Charity View

Peter Knatchbull-Hugessen, clerk to the Trustees of the Alan Edward Higgs Charity, feels that the £14m bail out of the Ricoh Arena by Coventry City Council has given Arena Coventry Limited even more stability.

Mr Knatchbull-Hugessen posted on Sky Blues Talk: - That's PWKH, right? So I believe you did say that.

"It has been difficult keeping quiet, having information and not being able to share it. The Coventry Telegraph will have more I am sure about what has happened this afternoon.
We have been working hard to do what any business should do when faced with such a serious challenge as ACL has faced with Sisu’s rent strike. I am sure that many of you will have heard the news that Coventry City Council has made an agreement with Yorkshire Bank for the Council to pay off the debt Arena Coventry Limited previously owed to the Bank. The Council will now make a loan to ACL of £14.4m, which will make repayments to the Council at an interest rate much more affordable for ACL as a business. You will have other questions about how much, how long, what rate of interest etc, at the moment I am unable to answer as they remain under commercial confidentiality.

The agreement gives ACL’s already strong business even more stability. It means that the Board of Directors can plan for the long term with more confidence than ever. The people of Coventry will also benefit as the interest on the repayments made by ACL will be available to the Council to spend on goods and services. This is a decisive move by the Council to secure the long-term future of the Ricoh Arena as an asset for the City of Coventry and a decision which ought to be welcomed and applauded by everyone posting on this forum.I am already receiving calls and messages asking me what this means with regard to the situation with Coventry City Football Club. The short answer is that nothing has changed. CCFC, under the ownership of Joy Seppala and her Sisu staff including Tim Fisher, has a legal obligation to pay its stadium rent. The Board of ACL has already issued a Statutory Demand for payment, the deadline for which has long since passed, and is now looking at its legal options. These legal options include petitioning the courts to grant an order to wind up CCFC and starting off the process of placing the Club into compulsory liquidation. Nobody wants this to be the outcome, but the clock is ticking and now is the time when Joy Seppala and her colleagues need finally to take responsibility for their actions, pay the rent which is lawfully owed, and come to the table with the Board of ACL to present a realistic business and financing plan which will safeguard the future of CCFC.

And why wouldn’t they want to do this? The City Council has just presented them with an opportunity to build a better business relationship with an outstanding business which is in an enviable and sustainable financial position. Everyone at ACL is absolutely committed to seeing the Sky Blues play at the Ricoh Arena for many years to come. My appeal to Sisu is therefore a simple one; please come and have a sensible conversation. And please stop trying to blame all the Club’s financial problems on the stadium rent, while drawing misleading and inaccurate comparisons between the rent paid by CCFC and that paid by other Football League One clubs, none of whom enjoy the benefits of a facility comparable to the Ricoh Arena.From the Higgs Charity’s perspective as a shareholder, we are completely in support of the Council’s move today. I am sure there will be speculation also about the Charity’s intentions in relation to holding on to its stake holding in ACL. Some of you may even feel that this would be a sensible time for Sisu to make a realistic offer to assume the Charity’s share.Again our position is unchanged. The trustees are proud to be part of ACL and we’re committed to the Arena for as long as it takes. We won’t be bullied or harassed by anyone trying to take our share in the business for less than its true value. But, if any third party makes a sensible and realistic offer, then we will of course give it the consideration it merits.Once again I apologise for the length of this update. I would of course have preferred to share this sooner but I am bound by the obligations of the law and of confidentiality on this hugely sensitive matter. As ever, I am happy to answer questions where I am able to do so."


Source: Coventry MAD

Wriggle your way out of that one!

An apology would be appreciated, either by PM or on the thread...