Ownership Rules (1 Viewer)

[oldskyblue58]

Just for info the Football League Rules regarding ownership can be found here

http://www.football-league.co.uk/re...-9-association-dual-interests_2293633_2125750

and

http://www.football-league.co.uk/regulations/20110629/appendix-4_2293633_2128219

Clause 94 of section 9 is interesting as is the last sentence of 88.3 of section 9

The way i read it is that the Football League could require the details of who actually holds the interest in the shares held by the SISU funds if they saw fit to do so. The powers are there already - our MP friend isnt suggesting anything that isnt already in place. Basically the League can require any info they see fit to see and can then audit it to ensure it is valid. What isnt in place is the Football league will to do it and disclose it.

Not easy to read I know, rule books never are but the information can be required if there is a will ............ to the League at least. I still remain sceptical of MP's reasons for getting on our case.... but i guess thats just my view of MP's in general.

 

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[wingy]

there has to be something specific to us to focus his scrutiny ,got your bags packed yet?

 

[oldskyblue58]

no not yet dont go till next wednesday but cant wait wingy ...... not sure how i feel about missing Forest game though

Perhaps we should have a fans campaign directed at the League asking to know who owns the SISU funds, maybe if there were enough fans asking the League might be forced into getting and disclosing the info

mailto:[email protected]

 

[wingy]

thers so many campiagns we could have at the moment ,stadium being one ,forgive me for being one dimensional,but it would be interesting to see if they have any holdings within other clubs ,like Ranson did.

 

[oldskyblue58]

Have attached an email for folk to send to the Football League. Just cut and paste then send to email address
[email protected]

Dear Sirs

Coventry City Football Club Limited

As a concerned supporter of Coventry City Football Club I am writing to you requesting that the Football League clarify the ultimate ownership of the Club. Clause 94 of section 9 of the Football League regulations state this should be made clear on the Club website at least and I do not feel this is the case.

I understand that Coventry City Football Club is a wholly owned subsidiary of Sky Blue Sports & Leisure Limited. That parent company is owned by four private equity funds managed by SISU Capital and by at least one other shareholder. However I feel it important for the clarity of ownership that it is made clear who actually owns or invested in the four private equity funds.

At the very least I would request that the Football League investigate this form of investment in our club to satisfy itself that the ultimate owners (the investors in the private equity funds) are fit and proper persons. In addition that the Football League satisfy themselves that no one party has more than an equivalent 10% interest in the club or an interest in any other club. The purpose of the private equity funds is to obscure the ownership, SISU act as managing agents and the purpose of agents is to act on the instructions of their clients (the investors in Coventry City FC). The management agents cannot, under clause 88.3 section 9, claim confidentiality for those clients.

I look forward to receiving your detailed response

Yours sincerely

 

[wingy]

Many thanks OSB

 

[crowsnest]

Also this section in the rules:

94.1 Each Club shall publish the identities of the ultimate owner (Person, not Entity) of each Significant Interest in the Club (as that term is defined Rule 1.1 of Appendix 4). That information shall as a minimum be published on the Club's official website on a page accessible directly from the home page of that official club website.

From ccfc.co.uk website:

Owner: Coventry City Football Club Ltd is owned by Sky Blue Sports and Leisure Ltd.

 

[oldskyblue58]

is worth a try and the worst they can say is no.

The risk is some investors dont want to be identified - they could demand their money back if info disclosed. That could have financial consequences for not just SISU but CCFC also

 

[oldskyblue58]

Yes i know crowsnest but who owns SBS&L Group ..... that is the actual ownership, SISU would say the funds do but who owns those. I think these regs make it clear they apply to all group companies and associated entities

worth a question to the league though ?

 

[crowsnest]

Well lester site still has Milan down as a board member still while Sheff Wed have their company details link hidden, but Milan is down again as chairman?

Doesn't look like the league make sure the rules are followed.

 

[oldskyblue58]

no perhaps we need to make sure they do .... might put pressure on SISU to at least be more open

 

[crowsnest]

They will probably quote Len as being the largest shareholder, but worth a try.

 

[wingy]

It cannot possibly be right that as your holdings under 10% you evade scrutiny of involvement in other clubs ,this is where the MPs angle is for me

 

[wingy]

Is it possible this Abramovich character,Tony Blairs former advisor has been co-opted onto the board , in anticipation of a fire fighting excersise :thinking about:

 

[georgehudson]

very good thoughts 'osb' i'm sure all ccfc fans are with you on this,
up to the owners to respond, and QUICKLY,
not with a 'fob off' effort,
SIster
SUzi
Off
Usefully
Tomorrow

PUSB

 

[bamalamafizzfazz]

Will send the email when I get home from work later. Interesting to see what the response will be. Good work OSB.

 

[oldskyblue58]

Have sent my email and waiting for a reply

 

[Sub]

just mailed mine off to