CCFC Statement (1 Viewer)

[stupot07]

Club statement on recent events

As fans will know, Coventry City Football Club Limited was placed into administration on Thursday.



This subsidiary of the Club held the lease and licence for the Ricoh Arena. This covered the permission to play home matches at the stadium as well as the rental of the Club shop and the Club offices.



Given this subsidiary is now in administration, the Club has taken the decision to protect its staff by moving them from the stadium to the training ground at Ryton, before finding a more permanent base.



Employees, including all playing staff, are employed by Coventry City Football Club (Holdings) Limited and there is no threat whatsoever to their jobs.



We have also removed all stock from the Club shop as we will want to use this at other premises in the future.



We appreciate the anxiety of fans and season ticket holders. The Club is currently in talks with the Football League over a number of issues, one being a location where the Club can fulfill its three remaining home fixtures.



The company which owns the football club, Coventry City Holdings Ltd., continues to operate. As far as possible, it's business as usual.



Ideally, we would like to keep playing our home matches at the Ricoh if the stadium owners, Arena Coventry Ltd (ACL) will offer reasonable commercial terms. All we've ever asked for is an affordable rent with access to matchday revenues, like any other club. We hope these will be offered to us by ACL.



We noted that the owners of the stadium, ACL, told the court they would be prepared to assist their proposed administrator 'with a partial (or possibly full) deferral' of the stadium rent and licence fee during the administration process.



But following Thursday's decision to place Coventry City Football Club Limited into administration, ACL told the appointed administrators they would require the full rent and licence fee on the stadium to be paid.



To reach an agreement with ACL to allow the Club to move back and fulfil its fixtures at the Ricoh Arena, we would hope and expect ACL would extend the same terms to the Club.



Again, we realise these are anxious times for all Coventry City fans but rest assured we are doing everything in our power to reach a suitable outcome for all supporters and employees.

 

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[Covstu]

more bollocks statements from our wonderful owners!!

 

[covcity4life]

Acl sound like women scorned

Spiteful shits

 

[WillieStanley]

That doesn't really say much. Confirms some speculation though. Interesting that ACL are now asking for the full amount.

 

[Colin1883]

No mention of f/b which the club stated was a point of contention in the negotiations

 

[covlad1986]

I don't believe a word of it. their not doing anything for the supporters just for them self's. It has already been said that ACL has offered Sisu £400k a year with F+B but they didn't take it.

F***ing losers

 

[WillieStanley]

I don't believe a word of it. their not doing anything for the supporters just for them self's. It has already been said that ACL has offered Sisu £400k a year with F+B but they didn't take it.

F***ing losers

It was the terms of the offer where the negotiations stalled

 

[skyblusam]

Just telling us what we know lets all chip in and buy them some imodium as all they come out with is verbal diarrhea.

 

[SkyBlueBlood]

I now find it offensive that they are even releasing statements in the name of CCFC, let alone such bullshit that only the most stupid would fall for.

 

[Nick]

So if acl put us into admin they were going to do a good deal on the rent, sisu put us in admin and acl want all the rent but sisu want the same deal as if acl put us there?

 

[grego_gee]

Looks like its ACL's fault we are not playing the rest of the season at the Arena.
They offered reduced rent to their preferred administrator, but would give no reduction to the administrator put in place by CCFC.
Absolutely no way CCFC would carry on paying at the unreduced rent so they are having to jump ship!

imp:

 

[Wrightdog]

And it would still be the highest rent paid in League One. From what I can make out, SISU have just played their ace card. From that statement, it seems that they will only move back to the Ricoh on their terms and without paying a penny of the outstanding rent owed. By moving out, they will not owe ACL anything and it's the part of the club in admin that does.

 

[Brighton Sky Blue]

It was the terms of the offer where the negotiations stalled

ACL wanted the arrears repaid over a period of years but the club refused and so negotiations collapsed. No business is going to just write off that sum of money when it's legally owed.

 

[Brighton Sky Blue]

And it would still be the highest rent paid in League One. From what I can make out, SISU have just played their ace card. From that statement, it seems that they will only move back to the Ricoh on their terms and without paying a penny of the outstanding rent owed. By moving out, they will not owe ACL anything and it's the part of the club in admin that does.

It would be less than Walsall's and moreover Fisher has said he is happy with it.

 

[SkyblueBazza]

ACL wanted the arrears repaid over a period of years but the club refused and so negotiations collapsed. No business is going to just write off that sum of money when it's legally owed.

Banks do it all the time

 

[Delboycov]

Why do their statements always sound so amateurish? Sounds like Tim's
just scribbled his thoughts on the back of an old envelope and then someone's had to type it out trying to make out his illegible handwriting.

As for the statement itself...more posturing and mind games. Don't pretend you give a shit about the fans...Just not buying it.

 

[Brighton Sky Blue]

Looks like its ACL's fault we are not playing the rest of the season at the Arena.
They offered reduced rent to their preferred administrator, but would give no reduction to the administrator put in place by CCFC.
Absolutely no way CCFC would carry on paying at the unreduced rent so they are having to jump ship!

imp:

Full rent means the arrears of £1.3m.

 

[Wrightdog]

ACL wanted the arrears repaid over a period of years but the club refused and so negotiations collapsed. No business is going to just write off that sum of money when it's legally owed.

And no business is going to pay that money out if it can continue trading without having to do so but would not be able to continue trading if it had to pay it out.

 

[grego_gee]

No mention of f/b which the club stated was a point of contention in the negotiations

I would think the F&B deal with Compass will negated by these actions. ACL will have to renegotiate that since CCFC no longer use the stadium.

ELVIS HAS LEFT THE BUILDING!

imp:

 

[Brighton Sky Blue]

Banks do it all the time

ACL isn't a bank with billions in assets.

 

[stupot07]

ACL wanted the arrears repaid over a period of years but the club refused and so negotiations collapsed. No business is going to just write off that sum of money when it's legally owed.

Brighton, we don't know the full ins and out of the offer, only the bits that ACL have told us.

 

[sky blue john]

Acl sound like women scorned

Spiteful shits

How did Sisu know what happened in court they have got the clubs interests so much at heart that they didn't even show up !!!

 

[Brighton Sky Blue]

And no business is going to pay that money out if it can continue trading without having to do so but would not be able to continue trading if it had to pay it out.

The terms offered by ACL gave repayment over a very long period indeed-such to the point where they'd barely have made a dent in the club's finances.

 

[The soothsayer]

A clear attempt at blackmail , sisu are trying to hold ACL's feet to the fire. what organization can bow to this and retain any credibility? Im afraid we are heading into un intended consequences country.

 

[Brighton Sky Blue]

Brighton, we don't know the full ins and out of the offer, only the bits that ACL have told us.

That didn't come from ACL-it comes from Jan.

 

[grego_gee]

ACL isn't a bank with billions in assets.

ACL is up the creek without a paddle!

imp:

 

[coundonskyblue]

ACL is up the creek without a paddle!

imp:

Not really, CCFC are going to be desperate to get back in the Ricoh now. Sisu have shot themselves in the foot with this one I suspect.

 

[CovLis86]

Haha sisu sound so petty, trying to turn people against acl. If sisu didn't change what they are actually arguing and fighting for a dozen times, people might actually believe them a bit more.

 

[SkyBlue_Bear83]

Haha sisu sound so petty, trying to turn people against acl. If sisu didn't change what they are actually arguing and fighting for a dozen times, people might actually believe them a bit more.

And ACL aren't petty at all

 

[grego_gee]

Not really, CCFC are going to be desperate to get back in the Ricoh now. Sisu have shot themselves in the foot with this one I suspect.

the reverse can be said too. ACL will be desperate to get them back!
It's a brave move by SISU but if it comes off it will be close to perfect!
They get out of the wicked rent deal and escape the 10 pts penalty.
There are only 3 home games left this season, and hopefully ACL will have to come to the table and negotiate a reasonable rent deal over the summer.
If they pull it off they will have done a brilliant job for CCFC!

imp:

 

[sky blue john]

From a personel point of view yes i want ccfc to play at the ricoh simple decision !!!
But in my work world if i had a customer who shafted me for 1.3million and then wanted me to continue dealing with them, I would tell them to feck right off !!!

 

[oldskyblue58]

"Ideally, we would like to keep playing our home matches at the Ricoh if the stadium owners, Arena Coventry Ltd (ACL) will offer reasonable commercial terms. All we've ever asked for is an affordable rent with access to matchday revenues, like any other club. We hope these will be offered to us by ACL.

We noted that the owners of the stadium, ACL, told the court they would be prepared to assist their proposed administrator 'with a partial (or possibly full) deferral' of the stadium rent and licence fee during the administration process.

But following Thursday's decision to place Coventry City Football Club Limited into administration, ACL told the appointed administrators they would require the full rent and licence fee on the stadium to be paid.

To reach an agreement with ACL to allow the Club to move back and fulfil its fixtures at the Ricoh Arena, we would hope and expect ACL would extend the same terms to the Club.

Again, we realise these are anxious times for all Coventry City fans but rest assured we are doing everything in our power to reach a suitable outcome for all supporters and employees."

So lets get this straight......

TF said he had agreed the rent at £400k so no dispute there surely

The matchday incomes - well ACL havent said they cant have they have said it is at what value and how. So get in and negotiate be prepared to compromise and buy back what the club sold.

So apparently thats all that needs sorting :facepalm::facepalm::facepalm: I bet it isnt!

As far as what ACL said well yes under their petition they were prepared to write off the arrears ..... they actually had no choice that was the consequence of the action they took. But it wasnt their action that placed the club in administration was it so they have to protect their creditors position at full value...... it isnt rocket science or double dealing (as it is trying to be portrayed) it is commercial and legal reality nothing more.

Sorry but nothing here persuades me that they are doing it in the best interests of the fans!

 

[italiahorse]

ACL need to quickly come to a business arrangement with SISU/CCFC. If they had done this a year ago instead of dragging their feet the debt would not have built up. In that time the football side of the business has been cost neutral.

Unfortunately without SISU/CCFC there other business's will start to fail hence ACL need to move fast.

 

[lordsummerisle]

From a personel point of view yes i want ccfc to play at the ricoh simple decision !!!
But in my work world if i had a customer who shafted me for 1.3million and then wanted me to continue dealing with them, I would tell them to feck right off !!!

Ah, but if that customer directly led to you receiving more than that £1.3million in other sources, Compass deal, sponsorship, car-parking etc then you might think again.

How much was the Compass deal in catering? Was it paid up front? If so, would they be demanding their money back without the regular sales of a football club in situ?

 

[Brighton Sky Blue]

If Jan or someone on a computer could repost the link to what ACL offered that'd be great.