peekingtom
New Member
Takeover latest in the telegraph..
Takeover latest (1 Viewer)
- Thread starter peekingtom
- Start date
shy_tall_knight
Well-Known Member
Is this a headline or a desire outcome but there's not much substance to your post please clarify
coundonskyblue
New Member
How does it damage the club?
Otis
Well-Known Member
coundonskyblue
New Member
Is this 'the most significant CCFC news since the move to the Ricoh'?
You really are coming out with some bizzare stuff tonight, have you been smoking something?
Milky_1994
New Member
So hope it's true we need money again, prem in 3 seasons guys
keep the faith
keep the faith
rob9872
Well-Known Member
You think all of this hanging out the washing in public over the past 18 months and all the gh exclusives have been good for us? Really?
S
skyblue2k
Guest
Well it is Thursday tomorrow, CET need a major story
coundonskyblue
New Member
Come off it. Tim Fisher could get done for Chicken molesting and it couldnt damage this clubs image anymore.
DazzleTommyDazzle
Well-Known Member
Glaziers green top
New Member
Chicken molesting..brilliant ;-)
SkyBlueSwiss
New Member
LOL:claping hands::claping hands::claping hands:
rob9872
Well-Known Member
Obviusly in jest and tbf quite a good one, but in seriousness if he did then he would simply muve on, gh claiming to be the saviour in the biased local rag caused so much nonsense. It fuelked the futile sisu out protests with no credible alternative and hardly inspired us on the pitch around that time did it? Should have all been done in orivate but the cash was clearly never there.
DazzleTommyDazzle
Well-Known Member
The protests may not have inspired us on the pitch last year, but any damage they did was minuscule when compared to the disastrous mismanagement of the club under the reign of Ken D.
Remember ken, the man who gave the interviews after the (in)famous Tamworth meeting, complaining about travelling to that distant outpost - although he seemed happy to commute from Portugal.
Why do you say "the cash was clearly not there"? We can agree that no deal was done, but for a deal to be done the buyer and seller have to agree a price and (in my view) SISU's actions with ACL have shown that they are not easy people to do a deal with.
dongonzalos
Well-Known Member
THE RICOH Arena company has begun dramatic High Court moves to place Coventry City Football Club into administration - and enable a take-over at the Sky Blues.
Arena Coventry Limited says it could pave the way for new buyers for the club, forcing out Mayfair-based hedge fund owners Sisu.
It could also mean a Football League ten-point deduction for the Division One club, scuppering hopes of reaching the play-offs and promotion this season.
ACL director Chris West, who is also Coventry City Council’s finance director, told the Telegraph: “We believe there are other parties out there that could be interested.”
One potential player in any takeover bid - city businessman and former club director Joe Elliott - had been spotted with American businessmen at the Sky Blues home game with Colchester United on Tuesday night.
The potential American investors were also rumoured to have been given a tour of the Ricoh last week by ACL interim chief executive Jacky Isaac.
Arena Coventry Limited - joint owned by Coventry City Council and the Alan Edward Higgs Charity - applied to the High Court for an administration order today.
The application relates to CCFC’s failure to pay ACL £1.3million over the last year in rent for using the stadium.
ACL said the application means a High Court judge will consider “in the coming weeks” placing the club into administration, if it is deemed unfit to continue trading.
That is the expected outcome, as Sky Blues chief executive Tim Fisher in the last week has said himself the club could be heading for
administration and insolvent liquidation.
Mr Fisher had also mooted the prospect of Sisu building a new stadium and leaving the Ricoh.
ACL said an administrator would then by appointed to potentially sell CCFC to a buyer who would be able to restore financial stability to the club.
ACL said today’s High Court action provides an interim period in which Sisu - the club’s main creditor which claims to have invested £60million in the loss-making club - would not be able to wind up or liquidate the club.
Lawyer James Powell, acting for ACL, said liquidation could involve the club falling many tiers down the football pyramid, as happened with Glasgow Rangers.
Mr West said administration with a ten-point deduction this season, rather than next season, would be preferable.
He added: “We’re doing this as company (ACL) directors to protect the interests of the company. We want to preserve the Sky Blues, and the Sky Blues playing at the Ricoh Arena.
“One of the advantages of this legal action is it prevents the club being liquidated.
“Tim Fisher has openly said this week the club is at a ‘tipping point and insolvent liquidation cannot be reasonably avoided’.
“It gives us the best possible chance for whoever to come in and restabilise the club in the interests of ACL, the football club and the city.”
ACL chairman Nicholas Carter, in a statement, said: “It is highly unfortunate that we have had to take this course of legal action. Had we not taken this action, then the alternative might have been catastrophic for CCFC.
“We are owed a considerable amount of money in rent arrears. While it is imperative that ACL takes action to recover these arrears and to stop the arrears growing, it is important for us to find a solution that can provide for the survival of the Sky Blues.
“We are, of course, well aware that under the current Football League regulations, CCFC will face a points deduction and we will do everything we can to ensure that the case is heard by the High Court before the end of the current season.
“While this opens up the possibility of a ten point deduction this season, the board believes this is better than leaving CCFC facing a much larger deduction at the start of next season.”
ACL said its legal action followed the recent collapse of talks between ACL and Sisu over £1.3million rent arrears, and future matchday revenue from the stadium which the club says is vital to its future.
ACL accuses Sky Blues directors of reneging on a verbal agreement on January 29 over a deal which would lower the annual rent to £400,000, plus other matchday financial incentives on food and drink sales.
Mr Fisher denies the charge, and claims the club had been awaiting further information on food and drink arrangements.
Arena Coventry Limited says it could pave the way for new buyers for the club, forcing out Mayfair-based hedge fund owners Sisu.
It could also mean a Football League ten-point deduction for the Division One club, scuppering hopes of reaching the play-offs and promotion this season.
ACL director Chris West, who is also Coventry City Council’s finance director, told the Telegraph: “We believe there are other parties out there that could be interested.”
One potential player in any takeover bid - city businessman and former club director Joe Elliott - had been spotted with American businessmen at the Sky Blues home game with Colchester United on Tuesday night.
The potential American investors were also rumoured to have been given a tour of the Ricoh last week by ACL interim chief executive Jacky Isaac.
Arena Coventry Limited - joint owned by Coventry City Council and the Alan Edward Higgs Charity - applied to the High Court for an administration order today.
The application relates to CCFC’s failure to pay ACL £1.3million over the last year in rent for using the stadium.
ACL said the application means a High Court judge will consider “in the coming weeks” placing the club into administration, if it is deemed unfit to continue trading.
That is the expected outcome, as Sky Blues chief executive Tim Fisher in the last week has said himself the club could be heading for
administration and insolvent liquidation.
Mr Fisher had also mooted the prospect of Sisu building a new stadium and leaving the Ricoh.
ACL said an administrator would then by appointed to potentially sell CCFC to a buyer who would be able to restore financial stability to the club.
ACL said today’s High Court action provides an interim period in which Sisu - the club’s main creditor which claims to have invested £60million in the loss-making club - would not be able to wind up or liquidate the club.
Lawyer James Powell, acting for ACL, said liquidation could involve the club falling many tiers down the football pyramid, as happened with Glasgow Rangers.
Mr West said administration with a ten-point deduction this season, rather than next season, would be preferable.
He added: “We’re doing this as company (ACL) directors to protect the interests of the company. We want to preserve the Sky Blues, and the Sky Blues playing at the Ricoh Arena.
“One of the advantages of this legal action is it prevents the club being liquidated.
“Tim Fisher has openly said this week the club is at a ‘tipping point and insolvent liquidation cannot be reasonably avoided’.
“It gives us the best possible chance for whoever to come in and restabilise the club in the interests of ACL, the football club and the city.”
ACL chairman Nicholas Carter, in a statement, said: “It is highly unfortunate that we have had to take this course of legal action. Had we not taken this action, then the alternative might have been catastrophic for CCFC.
“We are owed a considerable amount of money in rent arrears. While it is imperative that ACL takes action to recover these arrears and to stop the arrears growing, it is important for us to find a solution that can provide for the survival of the Sky Blues.
“We are, of course, well aware that under the current Football League regulations, CCFC will face a points deduction and we will do everything we can to ensure that the case is heard by the High Court before the end of the current season.
“While this opens up the possibility of a ten point deduction this season, the board believes this is better than leaving CCFC facing a much larger deduction at the start of next season.”
ACL said its legal action followed the recent collapse of talks between ACL and Sisu over £1.3million rent arrears, and future matchday revenue from the stadium which the club says is vital to its future.
ACL accuses Sky Blues directors of reneging on a verbal agreement on January 29 over a deal which would lower the annual rent to £400,000, plus other matchday financial incentives on food and drink sales.
Mr Fisher denies the charge, and claims the club had been awaiting further information on food and drink arrangements.
dongonzalos
Well-Known Member
I definitely get the impression ACL are now one step ahead if SISU at every corner
ACL said today’s High Court action provides an interim period in which Sisu - the club’s main creditor which claims to have invested £60million in the loss-making club - would not be able to wind up or liquidate the club.
Lawyer James Powell, acting for ACL, said liquidation could involve the club falling many tiers down the football pyramid, as happened with Glasgow Rangers.
Mr West said administration with a ten-point deduction this season, rather than next season, would be preferable.
He added: “We’re doing this as company (ACL) directors to protect the interests of the company. We want to preserve the Sky Blues, and the Sky Blues playing at the Ricoh Arena.
“One of the advantages of this legal action is it prevents the club being liquidated.
ACL said today’s High Court action provides an interim period in which Sisu - the club’s main creditor which claims to have invested £60million in the loss-making club - would not be able to wind up or liquidate the club.
Lawyer James Powell, acting for ACL, said liquidation could involve the club falling many tiers down the football pyramid, as happened with Glasgow Rangers.
Mr West said administration with a ten-point deduction this season, rather than next season, would be preferable.
He added: “We’re doing this as company (ACL) directors to protect the interests of the company. We want to preserve the Sky Blues, and the Sky Blues playing at the Ricoh Arena.
“One of the advantages of this legal action is it prevents the club being liquidated.
dongonzalos
Well-Known Member
The source of the comments is in the article
dongonzalos
Well-Known Member
Sorry, It is printed in the Telegraph it says so in the article.
The comments are by directors and lawyers for the CET.
dongonzalos
Well-Known Member
Yes it's quotes directly from ACL so I would say it is ACL's agenda.
If the Telegraph did not report this as a story I think we would all be asking for them to be sacked!
rob9872
Well-Known Member
It wouldn't be for the first time. They are at best incompetent lazy journalists, but I suspect some if the incredibly biased or dare I suggest in the pocket of certain individuals.
dongonzalos
Well-Known Member
Mate I have to say on this one I hope they are correct.
A non story if you ask me. Designed to give the illusion there are buyers waiting in the wings to put added pressure on SISU in anticipation of the court hearing. You or I could invite businessmen to the Ricoh and arrange for a stadium tour! Having said all that I genuinely hope I'm wrong and indeed there is interest.
Sky Blue Kid
Well-Known Member
A fucking BIG rise from £45m to £60m almost overnight eh? lying bunch of twats., and there are STILL posters on here that believe SISU!:jerkit: