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http://www.coventrytelegraph.net/sp...ntry-city-administrator-paul-appleton-5068922
Coventry City administrator offers to mediate to keep Sky Blues at Ricoh Arena
Paul Appleton believes his position means he is right man to conduct “independent” mediation – despite fans’ unhappiness over his proposed sale to Otium
Coventry City's administrator Paul Appleton has offered to act as a mediator alongside the Football League to keep the Sky Blues in Coventry.
Paul Appleton’s offer follows calls from two city MPs – Jim Cunningham and Geoffrey Robinson – for binding arbitration between Sisu-owned Coventry City Holdings and the part-council owned Arena Coventry Limited.
Mr Appleton, joint administrator for Coventry City Football Club Limited who has proposed a £1.5million sale to Sisu firm Otium, said: “Throughout this process, I’ve spoken to the Football League, Sisu and ACL on numerous occasions and offered to mediate between all parties in a bid to come to the right decision for fans – and that is for Coventry to play football at the Ricoh Arena. That offer remains.”
Mr Appleton said the Football League should be included, after it had granted permission for the Northampton groundshare but had also urged talks between Otium/CCFC Holdings and ACL.
CCFC Holdings director Tim Fisher has so far ruled out new talks over the Ricoh.
Mr Appleton believes his position as administrator means he is the right man to conduct “independent” mediation – despite fans’ unhappiness over Mr Appleton’s proposed sale to Otium.
He re-iterated selecting Otium as purchaser was the only option to fulfil his legal duty to creditors. He said: “My hands are tied, but I still have the greatest sympathy for the fans.”
Sources close to Mr Appleton say he believed an alternative sale to US bidder Preston Haskell IV “would have bought litigation” – meaning a legal dispute with CCFC Holdings.
Mr Appleton said his investigations into CCFC were also continuing ahead of his legal duty to submit a report to the government’s Business department (BIS) on the conduct of past and present Coventry City directors, stretching back three years before the company went into administration.
He said he had now received some information, and was awaiting more from auditors BDO concerning the club’s accounts, and whether BDO had signed them off.
Allegation about this had also been raised by Coventry MP Bob Ainsworth in a Parliamentary Early Day Motion.
Mr Appleton, in an interview with the Telegraph, added he had also forwarded more information requested by ACL to show how the other bids were inferior for unsecured creditors.
He has refuted ACL allegations his proposals should have done more to explain how Otium would meet the League’s insolvency policy. The League has still to decide on whether it will transfer its crucial “golden share” right to play in the League to Otium.
It remains to be seen if ACL will sign Mr Appleton’s proposed CVA at a creditors’ meeting on July 22. It would mean accepting a £590,000 return on £1.4million of unpaid Sky Blues rent debt, and for the cancellation of the 40-year rent/lease agreement.
Coventry City Council leaders have been silent over whether they might accept renewed talks over stadium ownership, rent and matchday revenues at any point.
But Labour councillor Kevin Maton, facing questions on social media, suggested the new council leadership under Ann Lucas might bring a new approach. He added it would be good if Ricoh talks were possible.
http://www.coventrytelegraph.net/sp...ntry-city-administrator-paul-appleton-5068922
Coventry City administrator offers to mediate to keep Sky Blues at Ricoh Arena
Paul Appleton believes his position means he is right man to conduct “independent” mediation – despite fans’ unhappiness over his proposed sale to Otium
Coventry City's administrator Paul Appleton has offered to act as a mediator alongside the Football League to keep the Sky Blues in Coventry.
Paul Appleton’s offer follows calls from two city MPs – Jim Cunningham and Geoffrey Robinson – for binding arbitration between Sisu-owned Coventry City Holdings and the part-council owned Arena Coventry Limited.
Mr Appleton, joint administrator for Coventry City Football Club Limited who has proposed a £1.5million sale to Sisu firm Otium, said: “Throughout this process, I’ve spoken to the Football League, Sisu and ACL on numerous occasions and offered to mediate between all parties in a bid to come to the right decision for fans – and that is for Coventry to play football at the Ricoh Arena. That offer remains.”
Mr Appleton said the Football League should be included, after it had granted permission for the Northampton groundshare but had also urged talks between Otium/CCFC Holdings and ACL.
CCFC Holdings director Tim Fisher has so far ruled out new talks over the Ricoh.
Mr Appleton believes his position as administrator means he is the right man to conduct “independent” mediation – despite fans’ unhappiness over Mr Appleton’s proposed sale to Otium.
He re-iterated selecting Otium as purchaser was the only option to fulfil his legal duty to creditors. He said: “My hands are tied, but I still have the greatest sympathy for the fans.”
Sources close to Mr Appleton say he believed an alternative sale to US bidder Preston Haskell IV “would have bought litigation” – meaning a legal dispute with CCFC Holdings.
Mr Appleton said his investigations into CCFC were also continuing ahead of his legal duty to submit a report to the government’s Business department (BIS) on the conduct of past and present Coventry City directors, stretching back three years before the company went into administration.
He said he had now received some information, and was awaiting more from auditors BDO concerning the club’s accounts, and whether BDO had signed them off.
Allegation about this had also been raised by Coventry MP Bob Ainsworth in a Parliamentary Early Day Motion.
Mr Appleton, in an interview with the Telegraph, added he had also forwarded more information requested by ACL to show how the other bids were inferior for unsecured creditors.
He has refuted ACL allegations his proposals should have done more to explain how Otium would meet the League’s insolvency policy. The League has still to decide on whether it will transfer its crucial “golden share” right to play in the League to Otium.
It remains to be seen if ACL will sign Mr Appleton’s proposed CVA at a creditors’ meeting on July 22. It would mean accepting a £590,000 return on £1.4million of unpaid Sky Blues rent debt, and for the cancellation of the 40-year rent/lease agreement.
Coventry City Council leaders have been silent over whether they might accept renewed talks over stadium ownership, rent and matchday revenues at any point.
But Labour councillor Kevin Maton, facing questions on social media, suggested the new council leadership under Ann Lucas might bring a new approach. He added it would be good if Ricoh talks were possible.
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