ACL move things up a few gears (1 Viewer)

Buster agree. But if they can figure it out. SISU or who ever owns the team the riches will be like find a sunken Spanish Ship full of wonderful treasure. .

James Smith said:

Why would the council want to run a football club, any football club?

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So we can vote on which players we want in the team,the 11 players with most votes play:facepalm:

deanocity3 said:

So we can vote on which players we want in the team,the 11 players with most votes play:facepalm:

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Aah I see a sort of extension to txt a Sub.

sm1845 said:

I dont get this.
Quote from above:
An ACL spokesperson said: “We read yesterday, with some surprise, an article in the media suggesting that Paul Appleton had offered to act as an ‘independent’ mediator between The Football League, Otium and ACL.

“It is unclear in what capacity he makes this offer. Is he making the offer as one of the Joint Administrators, in which case it is difficult to see how he could independently fulfil both roles?

“Or is he making the offer in some other capacity, and thereby seeking further payment in a role that would seem to conflict with his role and duties as a Joint Administrator?

“The immediate focus of the ACL board is on a meeting with The Football League, scheduled for Monday.

“We are fully aware of the dismay of Sky Blues’ supporters, and of other interested parties such as various Members of Parliament and the European Parliament, in relation to the recent statement of The Football League.

“We will ensure that The Football League fully appreciates the strength of feeling of everybody that wants to keep the Sky Blues in Coventry.

"We will also be seeking confirmation that the Football League Insolvency Policy and rules governing ground moves will be rigorously applied in this case.

“The meeting will also provide an opportunity for us to correct The Football League’s statement relating to its approval of the proposed groundshare at Northampton.

If ACL dont like Paul Appleton offer to act as an Administrator then rather then slaming it!!! Make an offer of someone else to be Administrator. Looks to me that ACL are speaking out of both sides of there mouth. We want Covenrty to play here but what are they doing to insure that there will be a cOVENTRY CITY CLUB. Get the FL correct statement of groundshare with no new deal being worked on. All the parties in this are not in it for Fans or the Club.

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another newbie...????

Sky Blue Kid said:

What I don't understand is this...SISU are taking CCC/ACL to court because CCC helped ACL out with a £14m loan yes?....Otium had £1m in the bank, yet SISU give them money (Supposedly) to buy CCFC ltd.....How does that work?!?!?

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And, relocating to a club that is being helped out with a £12m loan from their council - err :thinking about:

PAs main obligation is to act in the best interest of all creditors. Whilst the deal on the table is, on the face of it, providing the best return to creditors, TF has also stated the club will never play at the Ricoh, so it actually increases creditor (acl) claim by millions or tens of millions.

I would hope this is/was also considered

I think for most of the next 6 months the football is almost irrelevant and will take a back set to the real fight in the courts which is ACL vs SISU.

One option for ACL to further test SISU but also to demonstrate that they genuinely are doing what they can to keep us at the Ricoh would be to accept the CVA on condition CCFC continue to play at the Ricoh for 3 years for whatever it's costing to play at Northampton. That way they get maximum income from the admin process and SISU avoid liquidation and a 15 point deduction. And it gives both ides time to sort things out then Just a thought.....

Won't the fact acl refused mediation go against their claim?

I think there was lots of talk about mediation, but I don't think there was ever a formal offer acceptable to both parties, so no it won't

Snozz_is_god said:

I think there was lots of talk about mediation, but I don't think there was ever a formal offer acceptable to both parties, so no it won't

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Can anyone remember what actually happened with mediation? I remember there was a lot of talk from the fans and it was put to Fisher and he squirmed and usual and wouldn't commit to it, from memory ACL were asked after that and said there was no point as SISU would never agree to it which isn't the same as turning it down.

Was there ever an actual proposal for mediation from either side or an outright refusal to mediate from ACL?

I think it was just a lot of media talk about it, nothing more than that.

speedie87 said:

Won't the fact acl refused mediation go against their claim?

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Not sure what you mean by this.

When a financial agreement is made all correspondence between parties needs to be done between who is sorting things out. In our case this was Appleton. As we know he didn't do it. This is not just football. This is any financial agreement. SISU keep saying ACL wouldn't talk to them. They would have broken financial rules if they did speak directly with them. It is SISU that have refused any sort of mediation. Just like the one from Friday where Hoffman wanted to talk to Fisher at the game. Fisher said he didn't see how the Hoff had the right to.

The FL should have known that ACL couldn't talk to SISU.....or whatever they want to call themselves now. This should all be made clear tomorrow when the meeting with ACL and the FL happens. I would say this is why Appleton has offered to mediate now. He should already have done it. That is what part of what his job was to do. Did SISU want this though?

I can't see how SISU can take us to Northampton legally. I can't see how the FL can be against us playing at the Ricoh. All the truth will come out now. There is an offer of playing at the Ricoh rent free whilst in admin. Then there is an offer from the Hoff to cover any rent. The rent will be taken out of ticket sales. Much higher ticket sales at the Ricoh will mean a much more higher income than at Northampton. A stumbling block might mean SISU complain. All this money would be due to go to the academy. This belongs to SISU, but not straight onto their balance sheet.

This is where I start to see this as a possible good move by ACL. We play at the Ricoh. ACL then refuse to agree with what SISU have offered. We still play at the Ricoh rent free. So now do SISU carry out with their promise of attempting to liquidate? If not then Timmy loses face. He would already a bit with us playing at the Ricoh. Liquidation is a last resort. Our club don't have much in the way of equity. Higgs owns the training area they had built. ACL own the stadium. SISU seem to think that 25% of debts paid whilst in admin is good. If they try to liquidate us an offer of 25% could be made by someone else. An offer of 15m approx would cover this. So to me liquidation wouldn't work. Even SISU would make more back from this. A new owner would have the Ricoh for the £400,000 pa that has been offered to SISU. If they ended up being a decent owner they would get the chance of owning the ground.

I personally think this is why Fisher is trying his best to keep us out of Cov. Why else would they lose lots more money and alienate the fans by moving to Northampton?