Beneficial Ownership (1 Viewer)

IMHO it doesn't matter who owns the Club as the majority of fans would still want them OUT!

When new owners arrive optimism quickly fades once things start to go wrong and promises aren't kept or don't materialise.

Unfortunately I don't get to choose the owners of my football Club (along with pretty much the other 90+ League Teams) and to be perfectly honest over almost 60 years I don't recall liking or quite frequently agreeing with any of them.

I'd like to pose this question, WHO's BEEN PAYING THE WAGES OF THE STAFF, SQUAD & MANAGER as well as funding their Pre-Season Tour!

Got it in ONE, our current owners, SISU!

Like many others, I support both the team and the club and of course the Manager. Spare a thought for him, the Players & Club staff who are working in very, very difficult circumstances and have families and mortgages but aren't earning the kind of money some players take home.

PUSB - PUSB - PUSB - PUSB

Snozz_is_god said:

This is a statement from appleton the administrator on 27th June, 2013:
I can confirm that the asset sale by Coventry City FC Limited to Otium Entertainment Group Limited has been completed. Otium has purchased the right and title to certain assets possessed in Limited including the shares in the Football League and the Football Association. I stress that I have only been able to sell such right and title to these as Limited possesses, because CCFC Holdings Ltd asserts beneficial ownership over them.

I think this phrase 'Beneficial Ownership' could be the undoing of SISU, it they can claim beneficial ownership of the assets they want out of CCFCLtd, then it could be argued in the courts that they ought to have ownership of the assets they don't want. ie/ The Ricoh lease. In other words, the two companies are inextricably linked to each other.

So will ACL go after them in the courts, once CCFCLtd goes into liquidation and the lease is no more?

Incidentally, I didn't pick up on it at the time, but how could appleton sell the golden shares in the football league and football association?

Click to expand...

snozz: yes, selling of the golden share is an odd one. read this:
http://footylaw.wordpress.com/2013/...o-the-football-league-about-coventry-city-fc/

RFC said:

IMHO it doesn't matter who owns the Club as the majority of fans would still want them OUT!

When new owners arrive optimism quickly fades once things start to go wrong and promises aren't kept or don't materialise.

Unfortunately I don't get to choose the owners of my football Club (along with pretty much the other 90+ League Teams) and to be perfectly honest over almost 60 years I don't recall liking or quite frequently agreeing with any of them.

I'd like to pose this question, WHO's BEEN PAYING THE WAGES OF THE STAFF, SQUAD & MANAGER as well as funding their Pre-Season Tour!

Got it in ONE, our current owners, SISU!

Like many others, I support both the team and the club and of course the Manager. Spare a thought for him, the Players & Club staff who are working in very, very difficult circumstances and have families and mortgages but aren't earning the kind of money some players take home.

PUSB - PUSB - PUSB - PUSB

Click to expand...

Ah that's really good of them. It must be down to a sense of duty, love of the club and respect of the fans. It's heart warming.

Oh how hypocritical of us! How dare we fans expect the owners to do what they promise! As for paying wages - that's like saying who has been paying the mortgage on the house you are living in (oh sore point)!

If you own an asset, then it is your responsibility to pay the bills! You can hardly accept credit for doing something you should be doing! May as well go to your boss each month and kiss his/her feet for paying your wages! The lads turn up for training, play matches, they get paid!

None of this has been about not being able to pay rent- it is all about trying to get the ricoh on the cheap! And even then had sisu played fair by the fans, then there would be none of the furore about sisu owning the club!

The problem with the argument from the pro-sisu protagonists, is their is a fundamental flaw in their argument. Sisu are the custodians of the club, and as such have a duty of care for the fans and the legacy of the club. Had they said times are hard, we have to cut our cloth etc etc, it would have been hard, but I suspect the support for them would still be their.

Sadly this was never about lack of money, but refusal to spend it when needed! Everything that befalls them is self inflicted - everything could have been avoided had they kept their pledge to buy the arena within the first 2 years! Sadly they were unwilling or unable. The rent was only ever a stop gap measure. Sisu by refusing to invest made it a big issue!

Spare the pulling of the heart strings, areyou seriously trying to claim poverty for any of the sisu hedge fund? These people tear companies apart on a daily basis! They deserve no pity, and should receive no respect for doing the basics! If they didn't pay, you think the players would stay loyal? Sisu know the players are mercenaries - and I have no problem with that - it is their livelihood. For them it is their job, but for fans it is their passion.

Where is your sympathy for the security staff many who have given time to the club for free just so they can make money - and the fans? They deserve consideration way before a mayfair hedge fund who has allowed the club it stole from fans through intimidation in the final hour ever does!

Snozz_is_god said:

This is a statement from appleton the administrator on 27th June, 2013:
I can confirm that the asset sale by Coventry City FC Limited to Otium Entertainment Group Limited has been completed. Otium has purchased the right and title to certain assets possessed in Limited including the shares in the Football League and the Football Association. I stress that I have only been able to sell such right and title to these as Limited possesses, because CCFC Holdings Ltd asserts beneficial ownership over them.

I think this phrase 'Beneficial Ownership' could be the undoing of SISU, it they can claim beneficial ownership of the assets they want out of CCFCLtd, then it could be argued in the courts that they ought to have ownership of the assets they don't want. ie/ The Ricoh lease. In other words, the two companies are inextricably linked to each other.

So will ACL go after them in the courts, once CCFCLtd goes into liquidation and the lease is no more?

Incidentally, I didn't pick up on it at the time, but how could appleton sell the golden shares in the football league and football association?

Click to expand...

I've always thought the exact same thing it makes no sense to me that they claim beneficial ownership over the assets but are not tied to the debts.

So if this bullshit exists who owns the fucking club ?
Can Arvo claim beneficial ownership of Ccfc ?
Who owns Ryton now i doubt ccfc ?

rfc- go back under your stone

its not promises not being achieved- it is complete bullshit, and working towards the demise of the football club
Every decision they make is clearly weakening the club, and any normal person (or even any monkey given 50 :50 decisions to make) - could not have got us in such a mess

get rid of all of your assets
get rid of your customers
get rid of your goodwill

sorry rfc - any sane person can see that they have made an abortion of all of this

the fact that fishface is still in a job means he is seppala's puppet
sooner gone the better

RFC said:

IMHO it doesn't matter who owns the Club as the majority of fans would still want them OUT!

When new owners arrive optimism quickly fades once things start to go wrong and promises aren't kept or don't materialise.

Unfortunately I don't get to choose the owners of my football Club (along with pretty much the other 90+ League Teams) and to be perfectly honest over almost 60 years I don't recall liking or quite frequently agreeing with any of them.

I'd like to pose this question, WHO's BEEN PAYING THE WAGES OF THE STAFF, SQUAD & MANAGER as well as funding their Pre-Season Tour!

Got it in ONE, our current owners, SISU!

Like many others, I support both the team and the club and of course the Manager. Spare a thought for him, the Players & Club staff who are working in very, very difficult circumstances and have families and mortgages but aren't earning the kind of money some players take home.

PUSB - PUSB - PUSB - PUSB

Click to expand...

its a shame some posters don't realise just how bad our owners are for gods sake smell the coffee stop defending the indefensible

Does this mean that as a fan I can claim beneficial ownership of the club as i give a shit about it and SISU do not?