Breaking News from CCFC....

Sub

Well-Known Member
Aug 10, 2011
3,259
285
133
Warwick
just a reminder of how far our shit owners have let us fall and we are still plumeting down and the bottom isnt in sight yet !!!:jerkit::jerkit::jerkit:
 

skybluejelly

Well-Known Member
Apr 15, 2011
2,403
338
133
rugby
god its depressing ..we are now on a par with crawley and stevenage..it makes you pine for the days when we could spend 6 million on robbie keane..plus his wages on top..now we can't even afford to sign free transfers..and these teams will be playing us expecting to beat us not just trying to cause an upset like in a cup match..
 

Astute

Well-Known Member
Aug 2, 2011
30,776
7,515
263
Cumbria
I see they asked the question if Crawley had been a success or not in the last 5 seasons. Will they ask the same question on our own club?
 

wingy

Well-Known Member
Jul 9, 2011
25,974
5,092
213
I see they asked the question if Crawley had been a success or not in the last 5 seasons. Will they ask the same question on our own club?
That would require soul searching and frankness Astute,do they have that in them?
 

Brighton Sky Blue

Well-Known Member
Jan 11, 2012
19,665
5,918
263
Coventry
'League One newcomers Crawley swept aside struggling Coventry on a bitterly cold December afternoon at the Ricoh Arena. The home side weren't helped when striker Shaun Jeffers was taken off with an early calf strain, and his replacement Billy Daniels was sent off for failing to provide a permission slip from his English teacher to miss a Saturday detention.'
 

Stoppercurtis

New Member
Apr 15, 2010
103
0
0
It would be okay if we could see a way out of this situation butttttttttttt we are where we are and we need to learn to eat humble pie!

Stopper
 

Grendel

Well-Known Member
Sep 19, 2011
54,631
14,196
763
It would be okay if we could see a way out of this situation butttttttttttt we are where we are and we need to learn to eat humble pie!

Stopper
Quite. Our superiority complex amazes me. We are not a big club and far far bigger have been in this division and playing these teams.
 

Ashdown

Well-Known Member
Aug 30, 2011
5,213
2,110
113
As fervently anti-SISU as I am, I can see the only way for City to prevail amongst all this gloom is for its supporters to throw their weight behind the club. We need to get good vocal support at the Ricoh, fill the away ends of these smaller grounds and if they are going to try and rally their players against a bigger club then lets act like one.
Obviously as I've posted before Joyless and her co-conspirators need to give it the go-ahead first but when that happens its time to really back the football team in numbers and noise !!! You never know we might enjoy a season for a change.
 

OyJimmy

New Member
Mar 8, 2011
556
3
18
As fervently anti-SISU as I am, I can see the only way for City to prevail amongst all this gloom is for its supporters to throw their weight behind the club. We need to get good vocal support at the Ricoh, fill the away ends of these smaller grounds and if they are going to try and rally their players against a bigger club then lets act like one.
Obviously as I've posted before Joyless and her co-conspirators need to give it the go-ahead first but when that happens its time to really back the football team in numbers and noise !!! You never know we might enjoy a season for a change.
That horse has bolted. Most fans I talk to refuse to go until Sisu leave the club
 

@richh87

Member
Jul 2, 2011
2,565
9
38
We ARE a big club in League 1 - massive in fact. The only thing holding us back is the situation with the ground and these idiotic owners who couldn't give a toss about football.

In comparison to the other teams in that division we have massive support and much bigger potential due to the City we represent.

We need SISU gone for our long term chances of success. The Ricoh will not be sold to them as they don't care about the team - so they need to go. If that takes admin then so be it. I'm here to support this club for life - not just in the short term.
 

Grendel

Well-Known Member
Sep 19, 2011
54,631
14,196
763
We ARE a big club in League 1 - massive in fact. The only thing holding us back is the situation with the ground and these idiotic owners who couldn't give a toss about football.

In comparison to the other teams in that division we have massive support and much bigger potential due to the City we represent.

We need SISU gone for our long term chances of success. The Ricoh will not be sold to them as they don't care about the team - so they need to go. If that takes admin then so be it. I'm here to support this club for life - not just in the short term.
No one wants us so no SISU no club - admin first? Liquidation second if no buyers. Please don't mention Hoffman - even you must realise that was never happening.
 

cloughie

Well-Known Member
May 9, 2011
3,444
372
83
Coventry
That would require soul searching and frankness Astute,do they have that in them?
Sisu would need a soul before they could search it, and frankness and sisu are unknown to each other.
 

dongonzalos

Well-Known Member
Feb 13, 2012
19,390
2,178
113
No one wants us so no SISU no club - admin first? Liquidation second if no buyers. Please don't mention Hoffman - even you must realise that was never happening.
If that is true and is the correct process. admin 70-80% of SISU's loans written off, 10-15 point punishment.

SISU say loans are 40 million. So and I know this is all hypothetical. Someone should be able to make an offer to the Administrator for the club for between 10-15 million.

Prior to this they would need to do a deal with the council/Higgs. 10-20 million.

Feasibly They buy a club and half the Ricoh 35 million. Then spend 5 million on squad

Would they have spent the 40 million SISU did, but now have half the stadium, no rent

and have a squad that can actually compete in the league it is in.

Stick with it and push for the prem or get promotion and sell the whole package for 60 million

Be it Chinese people or whoever

Does this sound attractive?

When you look at that do you think no one will take a sniff

At the moment they wont touch SISU who want to try and get 40 million back

Unfortunately I dont think SISU will let admin happen. We will just get the points punishment and relegation via their cost cutting instead
 
Last edited:

Grendel

Well-Known Member
Sep 19, 2011
54,631
14,196
763
If that is true and is the correct process. admin 70-80% of SISU's loans written off, 10-15 point punishment.

SISU say loans are 40 million. So and I know this is all hypothetical. Someone should be able to make an offer to the Administrator for the club for between 10-15 million.

Prior to this they would need to do a deal with the council/Higgs. 10-20 million.

Feasibly They buy a club and half the Ricoh 35 million. Then spend 5 million on squad

Would they have spent the 40 million SISU did, but now have half the stadium, no rent

and have a squad that can actually compete in the league it is in.

Stick with it and push for the prem or get promotion and sell the whole package for 60 million

Be it Chinese people or whoever

Does this sound attractive?

When you look at that do you think no one will take a sniff

At the moment they wont touch SISU who want to try and get 40 million back

Unfortunately I dont think SISU will let admin happen. We will just get the points punishment and relegation via their cost cutting instead
If as you continually say we are a good opportunity for someone if we went to administration (a constant view of yours) why when we were on the brink before was SISU the only serious offer on the table? I say serious because there was of course one other bidder, what if he is the only bidder next time. Also the administrator will decide the best option to run the club if by some miracle two show an interest.

The club is in a very vulnerable state. Administration could tip it over the brink and it may never recover.
 

torchomatic

Well-Known Member
Feb 25, 2008
23,748
7,277
263
Warwick
I have to agree. Not one of my mates have said that they are staying away, though some obviously are.

Admittedly, I only have one friend.

No fan I talk to ever says that - did these people ever go anyway?
 

ashbyjan

Well-Known Member
Mar 21, 2011
1,997
647
113
Dongo - I think you are overestimating the costs. I am no financial wizard or anything but as I see it if the club goes into admin and as we have no assets the best SISU could expect is maybe 5p in £1 (still more than double what Portsmouth are offering) so that's £2m. Does the club really need ownership of the stadium at this moment in time? What it needs is a more realistic rent and access to some of the revenue streams - that is a renegotiation of the current contract which would be possible if the Council/Higgs Charity favoured the preferred bidder. Investment in players? Is £5m really necessary in the third division? What we need is new players but there are plenty available on frees or small transfers that could do a job and then allow us to stabilise and build slowly without accruing more debt. So what we need is a fund or scheme to buy the club and the club in admin to achieve it. If the supporters via the Trust work together exploring shares ownership etc and work with the council we could maybe do it? Worth further investigation in my opinion.
 

dongonzalos

Well-Known Member
Feb 13, 2012
19,390
2,178
113
If as you continually say we are a good opportunity for someone if we went to administration (a constant view of yours) why when we were on the brink before was SISU the only serious offer on the table? I say serious because there was of course one other bidder, what if he is the only bidder next time. Also the administrator will decide the best option to run the club if by some miracle two show an interest.

The club is in a very vulnerable state. Administration could tip it over the brink and it may never recover.

Because we did not get to administration. That is the point IMO when the people come out of the woodwork. Once most of the debts are written off. Only SISU were crazy enough to bid before administration.

Ask yourself why they did that?
 

1nilandwe...

Well-Known Member
Mar 23, 2012
514
116
93
I can't read the Offal at work. Could somebody please summarise what the article says please?
 

@richh87

Member
Jul 2, 2011
2,565
9
38
I have to agree. Not one of my mates have said that they are staying away, though some obviously are.

Admittedly, I only have one friend.
The 4 of us that go won't buy season tickets til they're gone - and we've had them 17 years now.

Admittedly we'll still go on match days - but don't trust SISU to be here by the start of the season (what with them not filing accounts). No lump sum to piss off into the sunset with from us.
 

ashbyjan

Well-Known Member
Mar 21, 2011
1,997
647
113
The talk of the club being in admin and suddenly a host of bidders suddenly appears is very dangerous and possibly unrealistic. Portsmouth (sorry to keep harping on about them but they are currently in the situation under discussion) are in admin yet the only two bids on the table are from the supporters and from an unpopular previous owner - there is not a queue of potential suitors waiting to bail them out so why would we be any different? No ground, no assets, poor squad............a real tempting proposition. The only thing of value is the 50% Higgs Charity option and it wouldn't surprise me if somehow through their web of various vehicles SISU don't snaffle that for themselves before sodding off.
 

oldskyblue58

CCFC Finance Director
Apr 16, 2010
9,160
5,999
313
Coventry
Any transfer of the option to a third party has to be approved by the Charity. They wont approve it. it has to remain with CCFC Limited
 

dongonzalos

Well-Known Member
Feb 13, 2012
19,390
2,178
113
The talk of the club being in admin and suddenly a host of bidders suddenly appears is very dangerous and possibly unrealistic. Portsmouth (sorry to keep harping on about them but they are currently in the situation under discussion) are in admin yet the only two bids on the table are from the supporters and from an unpopular previous owner - there is not a queue of potential suitors waiting to bail them out so why would we be any different? No ground, no assets, poor squad............a real tempting proposition. The only thing of value is the 50% Higgs Charity option and it wouldn't surprise me if somehow through their web of various vehicles SISU don't snaffle that for themselves before sodding off.

What are the remaining debts that are left on the table if you buy Portsmouth. i.e what do you actually buy

If you get CCFC for 10 million and get half the Ricoh for 15 million. (annoying thing this is all hypothetical)

What do you get at the moment if you buy Portsmouth?
 

wingy

Well-Known Member
Jul 9, 2011
25,974
5,092
213
They did recieve an offer of seven pence in the pound down at Pompey,whether it was serious or not i don't know .
Jan its reassuring to hear you talk as you are as i had a fear that your desire for dialogue with the club could lead to a fans group being utilised to lobby the council on sisu's behalf ,Dongon ,surely as Jan says if they were in admin it would only take a minimal offe rwhereas in your estimate £10-£15m. i think Sisu would snap anyones hand off.The only way i would truelly want and trust in anyone getting their hands on the ground or halfshare would be if it was tied into the club through a fangroup which Jan mentions be that through Sisu, A N Other or Fans
 

rob9872

Well-Known Member
Mar 21, 2011
9,310
3,963
213
I think it would help if Jan could turn the discussion into a way of plugging the trust and raising cash for a takeover
 

ashbyjan

Well-Known Member
Mar 21, 2011
1,997
647
113
Wingy - my desire for dialogue with the club is only on matters that involve the day to day stuff that can be discussed with the clubs employees in the commercial office, marketing, safety etc. I want SISU out of this club as quickly as possible before they completely destroy it and the last thing I want is for them to have any sort of stake in the satdium if that means they would ruin that and hang around even longer. But I believe to just sit back, do nothing and hope that either Hoffman suddenly magics some buyers up or someone else suddenly rides into town to save us from the goodness of their heart is not a realistic option. For me the Trust has to one: be ready for when (not if) SISU opt for admin or liquidation or simply just walk away and two: proactively look at the feasibility of the fans buying the club in partnership with the council/ACL/Higgs Charity.
 

rob9872

Well-Known Member
Mar 21, 2011
9,310
3,963
213
You're all guessers! I'm one too - so let's not pretend we have any idea what Admin will cost us or what the club will be worth.

I see NO BENEFIT in SISU selecting the admin route. It can't be clearer since they are the major creditor. If we owed the banks and the revenue (which I guess could still happen as things are moved around) there would be a different picture, but otherwise it makes no logical sense for them.

Imo what they are trying to do is to cut as many costs as possible so that the team eventually breaks even or better. When that equilibrium is achieved, whatever league we happen to be in matters to them not one iota even if its the conference or lower. The only way they can now recoup their investment is to get hold of the revenue streams for all of the other associated schhemes at the Ricoh.

They can feed whatever lines they want as PR and appoint as manay new boards as they see fit, but they are clear that without gambling in a way they are not prepared to fund, we will not reach the promised land of the EPL. Without that golden carrot to aim for their is little in it for them other than the Ricoh. However, to walk away or go down the admin route will not hold much opinion to their investors who are their only real customers. Mr ABC who lives thousands of miles away does not care about Coventry City but does care about his investment and their duty is to get the best possible return on that.