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There is an arguement that SISU aremdoing this already with their stance on the Arena (owning the freehold) and moving to Northampton. I think SISU have taken the club hostage. If CCC / ACL / Higgs don't do what SISU want the hostage will be killed - over time.

A good point Godiva but neither Higgs or CCC are obliged to sell. I spoke to Derek Higgs at a shareholders meeting and he said the buy back price was calculated using a formula. All the club needed to do was pay the price - and SISU have refused to do this and have lost the opportunity to buy...

You're right - it's madness. This is Joy's tactic of (seemingly) saying that there is room for negotiation when there is not. To buy the freehold SISU would have to offer the Council a return on their investment. If the net cost of the Arena was £40m ten years ago if the Council looked for...

You're right... The club did sell its rights to these revenue streams - for which they were paid large sums of money. The best thing to do is for the club to buy them back... But that's not SISU's style.

I lived in Singapore back in the mid 1990s when Singapore played in the Malaysian Premier League and got the the Malaysian FA Cup Final. It was a good crack in KL and Singapore was buzzin'! Ah yes, I remember it well! Now living in the West Country but still have sky blue blood. I was born...

A great point VoR they are committing commercial suicide. In my opinion there isn't a plan other than 'wait and see'. The Football League foolishly give the club up to 5 years away from Coventry - so JS will push that to the limit to see what happens with ACL. I believe their MO will be...

Yes. There isn't a problem with transferring assets from CCFC Ltd to Holdings. Holdings will have to pay a proper value or reduce their debts owed by CCFC Ltd. Things become more complex when assets transfer ahead of a company going into administration - which is what happened here. They...

The debt owed by CCFC Ltd was structured through multiple companies. Layered so to speak so if one company goes into administration the debt remains owed by others in the group. The simple way to explain this would be as follows:- Hedge Fund A need to supply funds to their Football Club...

They'd be wrong. The reason the club struggles so much is that SISU have to keep the debt in Coventry City at full value in their other funds. A fund lends £10m to the Coventry City group it sits as an asset in their books and a liability to Coventry City. The club is worthless to buyers but...

This is a great summary. SISU were told and saw the results of numerous surveys that they would lose 95% of season ticket holders if they played outside Coventry. They knew this BEFORE they agreed the ground share at Sixfields. Using the maths, if 95% of your loyal customers won't go then...

I understood that the Football League insisted that the CVA payments were to be made whether or not CCFC Ltd was liquidated as part of the agreement to give Otium the Golden Share. I suppose you could view ACL as being a football related creditor (that should be paid in full as per the FL's...

Having read the full text of the letter it seems that The Football League want to hide behind their discretion as to why they did not to apply their rules. The vibe I got reading it was the FL have got themselves in such a mess by registering players in Holdings instead of CCFC Ltd that they...

theferret - you really need to go and get some grasp of facts and get some understanding of what 'distressed debt' is. JS was negotiating with ACL's bankers for the mortgage to be 're-assigned' because ACL were in danger of defaulting on the payments. THIS IS NOT PAYING IT OFF IN FULL. I seem...

I agree with this. If the NOPM campaign holds firm then SISU will be forced to go. No business is sustainable without customers. The NOPM campaign should include any new stadium. We should all think about what Fisher has said. SISU have agreed to fund the club for the next three years...

Within the group of Companies it is likely to remain the same.

Good shout. Appleton's job was to maximise value for the creditors of CCFC Ltd. He's done that. SISU had a multi-tiered debt structure in the Coventry City group. This means as part of their bid they could write off most (if not all) of the debt that was in CCFC Ltd. As far as Appleton is...

With the lack of season ticket sales the club is likely to be far enough the plan they submitted to the Football League for the embargo not to be fully lifted. The rolling embargo of one-in-one-out seems to be the Football Leagues way of putting a club into 'special measures'. I don't see this...

To be honest the NOPM campaign is the only way that the fans can send a message to the club's owners that they're not happy with the way things are going. SISU have been told in no uncertain terms that fans don't want to travel to Northampton. The result of that is 'revenue' lost to the club...

I can't imagine that SISU won't appeal. Their strategy (and there is plenty of evidence for this) is to 'litigate to intimidate' so I have no reason to believe they won't take this to the next level just to keep the pressure on.

Great post! This is my understanding and based on current season ticket sales etc. I'd guess that we will be under embargo for most of / all of the season. We might be lucky and be allowed to sign players when we exit administration but it seems we'll fall foul of the rules after a few weeks...