shy_tall_knight
Well-Known Member
PwC have just issued a report following the investigation into the loan given by the council to the Cobblers. Makes very interesting reading especially on the workings of a local council who can grant a loan with virtually no due diligence and even less monitoring of the construction project
The problem as I see it for Coventry is that this may be considered as demonstrable evidence as to why the council should not support a football club, the previous Northampton regime were very suspicious of the club due to their financial position, a change of regime at the council and the loan was approved, which has been concluded as reckless in the report.
IMO the council were extremely suspicious of SISU and weren't prepared to work with them or give anything yet seemed to bend over backwards for WASPS. Both were owned by hedge funds both were incurring heavy losses. Can't help but think that SISU played it all wrong with the CCC
The problem as I see it for Coventry is that this may be considered as demonstrable evidence as to why the council should not support a football club, the previous Northampton regime were very suspicious of the club due to their financial position, a change of regime at the council and the loan was approved, which has been concluded as reckless in the report.
IMO the council were extremely suspicious of SISU and weren't prepared to work with them or give anything yet seemed to bend over backwards for WASPS. Both were owned by hedge funds both were incurring heavy losses. Can't help but think that SISU played it all wrong with the CCC