Monksy hinting at admin (1 Viewer)

[Otis]

SISU To Go Down The Aministration Route?
By Covsupport News Service
Updated Wednesday, 2nd November 2011
Coventry City RSS Feed

Rumours say new company to be set up to take over all of City's debt


Rumours abound that Coventry City's owners SISU are setting up a new company.
It is believed that this new company will have all of the club's debts (although whether this includes monies supposedly owed to previous Chairmen, ex employees etc which has been deferred until such time as the club is promoted to the Premier League is unknown), transfered to it and then be placed into administration, supposedly leaving CCFC debt free.

The move is rumoured to be similar to what Ken Bates did at Leeds United.

 

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[Sub]

the whole thing is a joke really is the club is in a constant spiral down looks like orange ken is going to have two clubs in administration on his CV :thinking about::thinking about:

 

[Lord_Nampil]

He left Southampton 2 yrs b4 it went into admin

 

[Lord_Nampil]

Talking of Southampton didn't they do the same thing??

 

[crowsnest]

It is believed that this new company will have all of the club's debts transfered to it and then be placed into administration, supposedly leaving CCFC debt free.

Except for the fact that you can't do that and get away with it.

This "new" company (Otium Entertainment Group) was set up in April - so why the wait to go into admin.

Cov Mad making things up again?

 

[Skybluetracy]

15 months.

And he resigned from Southampton the day after a cosy deal with SISU (Igwe) fell apart. He would have been paid a lot by Igwe if that deal had progressed I guess but it was thrown out by shareholders who saw the conflict

Talk to Saints fans - they say he did exactly the same to them as he us doing to us.

 

[torchomatic]

It is 'believed'? That phrase is a classic along with 'apparently' and 'we understand' and 'according to reports'. More bollocks then.

 

[ajsccfc]

Rumour has it that the site is getting increasingly worse, my sources understand.

 

[ajsccfc]

EXCLUSIVE! Word on the grapevine is that stories with little basis appeal to the largest demographic; the angry Cov fan looking for outrage.

 

[ajsccfc]

MY SOURCES FROM BEYOND THE GRAVE when asked whether Coventry will change owner have replied 'ask again later', it is understood.

Woah, I could start my own shitty site.