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.
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:
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.
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.