CCFC still going to Northampton? (1 Viewer)

[Sky Blues]

The latest tweet from Les Reid doesn't sound promising:

Les Reid ‏@Lesreidpolitics
Liquidation on Friday? No surprise, but not detecting any #CCFC Ricoh "talks" today. 2 sides seem wilfully miles apart


‏@andy_scates
@Lesreidpolitics so no ccfc, or no ccfc ltd and the club continue to operate anyway?


Les Reid ‏@Lesreidpolitics
@andy_scates Unless things change, it looks likely liquidation of #CCFC Ltd, 15pt penalty, League golden share to Otium


Studio2Stereo ‏@Studio2Stereo
@Lesreidpolitics @andy_scates and still ground sharing?


Les Reid ‏@Lesreidpolitics
@studio2stereo @andy_scates Yes. Coventry groundshare at Northampton looking likely under Otium & 15pt penalty for liquidation

 

---

[grego_gee]

Fear not! good men and true,

We still have a couple o'days for a WI meeting in a council house to save our souls!

imp:

 

[Sky Blue Harry H]

The latest tweet from Les Reid doesn't sound promising:

Les Reid ‏@Lesreidpolitics
Liquidation on Friday? No surprise, but not detecting any #CCFC Ricoh "talks" today. 2 sides seem wilfully miles apart


‏@andy_scates
@Lesreidpolitics so no ccfc, or no ccfc ltd and the club continue to operate anyway?


Les Reid ‏@Lesreidpolitics
@andy_scates Unless things change, it looks likely liquidation of #CCFC Ltd, 15pt penalty, League golden share to Otium


Studio2Stereo ‏@Studio2Stereo
@Lesreidpolitics @andy_scates and still ground sharing?


Les Reid ‏@Lesreidpolitics
@studio2stereo @andy_scates Yes. Coventry groundshare at Northampton looking likely under Otium & 15pt penalty for liquidation

If iy goes in this direction, what a demotivating effect on team, Pressley, et al ....and what will it do for attendances - I think that this will prove that SISU are only interested in Ricoh. and not the football team (though thought that all along) PUSB

 

[true sky blue]

at least the greedy council scumbags wont get a penny. 14 million down the drain too!! well played coventry city council.

 

[westcountry_skyblue]

Good evening Mr Fisher !!!

at least the greedy council scumbags wont get a penny. 14 million down the drain too!! well played coventry city council.

 

[Spionkop]

No disrespect to Les Reid, he is closer to things than any of us are, but how would he know? Has he spoken to Mrs Lucas, Joy, Higgs, anybody? The 'talks' are on Friday. It is Wednesday. He's speculating like all of us. And then others compound it.
ACL and Sisu are busy devising strategies right now, before they meet. That's me speculating. Let's not get carried away just yet.
Like most, I just want us at the Ricoh.

 

[covmark]

Good evening Mr Fisher !!!

aha didn't take long

 

[bigfatronssba]

at least the greedy council scumbags wont get a penny. 14 million down the drain too!! well played coventry city council.

How's your statue for Seppala campaign coming along?

 

[steveo1987]

No disrespect to Les Reid, he is closer to things than any of us are, but how would he know? Has he spoken to Mrs Lucas, Joy, Higgs, anybody? The 'talks' are on Friday. It is Wednesday. He's speculating like all of us. And then others compound it.
ACL and Sisu are busy devising strategies right now, before they meet. That's me speculating. Let's not get carried away just yet.
Like most, I just want us at the Ricoh.

Attention seeker

 

[chiefdave]

at least the greedy council scumbags wont get a penny. 14 million down the drain too!! well played coventry city council.

while I'm sure ACL / Higgs / Council aren't entirely blameless they have offered to reduce the rent from £1.3m to £150K, what have SISU done to try and enable the situation to be resolved?

 

[mark82]

I've had people at work coming up to me all day saying it is a great deal and surely the club will accept it. These are generally fans of championship clubs (Huddersfield, Sheffield Weds, Middlesbrough) and the Huddersfield fan told me they pay £1million a year for their ground which is not as good as the Ricoh (his words not mine). I don't see why they wouldn't snap their hand off for this.

 

[ccfcway]

If iy goes in this direction, what a demotivating effect on team

And Jordan Clarke and Willis as CB's wont ?

 

[ccfcway]

anyone else think that Lucas and / or Seppela wont actually be there on Friday, meaning this on only going one way ?

 

[RFC]

Glad someone else can see the "Wood from the Trees'! HELP!

 

[simple_simon]

at least the greedy council scumbags wont get a penny. 14 million down the drain too!! well played coventry city council.

Why are all your posts so one sided? We can all see faults with both sides but the Council have responsibility and are always being judged/ watched. SISU and Sappala just do what they want and do not care who they hurt.
As a matter of interest do you actually live in Coventry?

 

[SkyBlue_Bear83]

Why are all your posts so one sided? We can all see faults with both sides but the Council have responsibility and are always being judged/ watched. SISU and Sappala just do what they want and do not care who they hurt.
As a matter of interest do you actually live in Coventry?

His an obvious wum, I often say no one is pro SISU but they are just balanced. Well he is an obvious exception

His posts have about as much credibility as psgm on here

 

[oldskyblue58]

I can't see Sisu accepting the rental offer

and

I suspect that ACL will reject the CVA

Club will remain in tact under Otium, It will be playing at Sixfields, and Football League will deduct 15 points. CCFC Ltd will be liquidated so breaking the lease and any connection with our club under the present owners at the Ricoh.

It didn't have to be this way but it is what it is. To be honest I just want the decisions made, so everyone can then move forward dealing with what is left.

 

[deanocity3]

I can't see Sisu accepting the rental offer

and

I suspect that ACL will reject the CVA

Club will remain in tact under Otium, It will be playing at Sixfields, and Football League will deduct 15 points. CCFC Ltd will be liquidated so breaking the lease and any connection with our club under the present owners at the Ricoh.

It didn't have to be this way but it is what it is. To be honest I just want the decisions made, so everyone can then move forward dealing with what is left.

that's how I see it going too

 

[Sky Blue Harry H]

And Jordan Clarke and Willis as CB's wont ?

Fair enough, but I remember Big Ben Turner being slated by a lot of City fans - too slow, never make it, donkey.........:thinking about:

 

[Sky Blues]

Not looking good.

Update from the Guardian: http://www.theguardian.com/football/2013/jul/31/coventry-city-liquidation-cva?CMP=twt_gu

Coventry City chief executive, Tim Fisher, said ACL's amendments would not be made to the CVA and that a planned groundshare with Northampton Town would go ahead.
"They've run us up against a cliff edge of liquidation and they've moved to tip us over," Fisher said. "All I can say is that it is the biggest crying shame.
"How can a public body not accept a complete CVA where they will get the money that they are owed, instead of a liquidation where they will get a fraction of that, potentially one-sixtieth of what they would have got?
"This isn't a financial situation of our making; there is no financial gain. Actually there is economic and financial wreckage at the club. I'm not sure we could have done anything differently."

 

[spwaverley4916]

totally confused by this - if CCFC ltd (bought by otium) go into liquidation then surely otium dont own anything. therefore otium does not exist in the eyes of football league. the golden share is not returned to this non existant company. without the golden share how can ccfc holdings continue to compete in football matches at sixfields or the ricoh. ( i know otium are part of the sisu mafia but they were the preferred bidder and if the cva is rejected - they dont own f all)

will someone please explain - if you can - my brain hurts


Les Reid ‏@Lesreidpolitics
@andy_scates Unless things change, it looks likely liquidation of #CCFC Ltd, 15pt penalty, League golden share to Otium


Studio2Stereo ‏@Studio2Stereo
@Lesreidpolitics @andy_scates and still ground sharing?


Les Reid ‏@Lesreidpolitics
@studio2stereo @andy_scates Yes. Coventry groundshare at Northampton looking likely under Otium & 15pt penalty for liquidation

 

[simple_simon]

I can't see Sisu accepting the rental offer

and

I suspect that ACL will reject the CVA

Club will remain in tact under Otium, It will be playing at Sixfields, and Football League will deduct 15 points. CCFC Ltd will be liquidated so breaking the lease and any connection with our club under the present owners at the Ricoh.

It didn't have to be this way but it is what it is. To be honest I just want the decisions made, so everyone can then move forward dealing with what is left.

Did not want to hear that OSB, please be wrong.

 

[Sky Blues]

The article adds:

ACL, which is suing Northampton Town for allegedly "inducing" Coventry into breaking an agreement to stage matches with it, believes its offer of reduced rent is good enough to keep the Sky Blues at the Ricoh.
James Powell, of the law firm Walker Morris, which is representing ACL, said on Wednesday: "It is a very generous deal to try and keep Coventry City playing at the Ricoh Arena."
However, Fisher believes the commercial risk of building a new stadium is "short-term pain for long-term gain", despite the club having sold little over 200 season tickets for the upcoming season. "An unreserved apology to the fans that we've had to go down this route," he said. "We think it's regrettable and the off-field has completely overshadowed the on-field, now we need to redress the balance. The economic damage incurred to this club is huge."

 

[simple_simon]

totally confused by this - if CCFC ltd (bought by otium) go into liquidation then surely otium dont own anything. therefore otium does not exist in the eyes of football league. the golden share is not returned to this non existant company. without the golden share how can ccfc holdings continue to compete in football matches at sixfields or the ricoh. ( i know otium are part of the sisu mafia but they were the preferred bidder and if the cva is rejected - they dont own f all)

will someone please explain - if you can - my brain hurts

Yes, I agree, will someone with a better brain than me please explain?


Les Reid ‏@Lesreidpolitics
@andy_scates Unless things change, it looks likely liquidation of #CCFC Ltd, 15pt penalty, League golden share to Otium


Studio2Stereo ‏@Studio2Stereo
@Lesreidpolitics @andy_scates and still ground sharing?


Les Reid ‏@Lesreidpolitics
@studio2stereo @andy_scates Yes. Coventry groundshare at Northampton looking likely under Otium & 15pt penalty for liquidation

 

[RFC]

BUT WHAT ABOUT AT 'LEAST A SHARE' of ALL other revenue streams for the Football Club (FIFA Financial Fair Play rules, look it up!).

The Club won't exsist in years to come because of 'expenditure % set against gross income' (don't take my word for it, look it up), just research what others say including Mark Robins, Paul Fletcher, Ray Ranson & Geoffrey Robinson amongst many, many other 'high' profile figures.

Basically 'Coventry City Council' have never done enough to help or assist CCFC why????????????

However they've continually 'used' ACL as a 'Political' football IMHO!

NO PARTY COMES OUT OF THIS 'DEBACLE' with ANY credit IMHO, including SISU but far too many others are complicit and are not either commenting (for legal reasons) or are being being MORE THAN LIMITED WITH THE TRUTH.

I just wish ALL parties would take a couple of steps back and consider the supporters, the history, the community & dedication time and money that so many have given over a lifetime but also those new young fans that may well be lost forever, WITHOUT A SENSIBLE SOLUTION TO THIS AWFUL MESS!

Well I can dream, can't I??????????

 

[ccfcway]

Not looking good.

Update from the Guardian: http://www.theguardian.com/football/2013/jul/31/coventry-city-liquidation-cva?CMP=twt_gu

Coventry City chief executive, Tim Fisher, said ACL's amendments would not be made to the CVA and that a planned groundshare with Northampton Town would go ahead.
"They've run us up against a cliff edge of liquidation and they've moved to tip us over," Fisher said. "All I can say is that it is the biggest crying shame.
"How can a public body not accept a complete CVA where they will get the money that they are owed, instead of a liquidation where they will get a fraction of that, potentially one-sixtieth of what they would have got?
"This isn't a financial situation of our making; there is no financial gain. Actually there is economic and financial wreckage at the club. I'm not sure we could have done anything differently."

Surely if ACL reject CVA the £600k stays in SISU's pocket ?

They have no intention of staying at the Ricoh, so arent they up ?. They have just saved £600k and now commence putting ACL into distress

 

[Sky Blue Harry H]

I can't see Sisu accepting the rental offer

and
I suspect that ACL will reject the CVA

Club will remain in tact under Otium, It will be playing at Sixfields, and Football League will deduct 15 points. CCFC Ltd will be liquidated so breaking the lease and any connection with our club under the present owners at the Ricoh.

It didn't have to be this way but it is what it is. To be honest I just want the decisions made, so everyone can then move forward dealing with what is left.

If you're right - what are the next steps in terms of strategy - are SISU playing a waiting game to try and buy Ricoh; do they try and build at Brandon (my father in law was a senior planner at Warks CC and laughed about the possibility of them getting planning permission approved. I'm confused as to SISUs next possible move (unless in their mad accounting world they are happy to run a loss making operation ad nauseum, offsetting profits of other compnies they own against CCFC losses???) Help OSB

 

[oldskyblue58]

would love to be wrong simple_simon I really would....... but TF's quotes in the Guardian indicate that I wont be

 

[ccfcway]

Fisher believes the commercial risk of building a new stadium is "short-term pain for long-term gain", despite the club having sold little over 200 season tickets for the upcoming season. "An unreserved apology to the fans that we've had to go down this route," he said. "We think it's regrettable and the off-field has completely overshadowed the on-field, now we need to redress the balance. The economic damage incurred to this club is huge."

Honestly, this guy is just unreal. SISU are the exact reason why we are talking about CVA's when the rest of the country are talking about AVB et al, The new season is just round the corner and I simply couldnt give a sh1t anymore...Starting a season on -15, after losing 10 points last season should be more than enough for the FL not to deam SISU "Fit and proper"

 

[Sky Blue Harry H]

BUT WHAT ABOUT AT 'LEAST A SHARE' of ALL other revenue streams for the Football Club (FIFA Financial Fair Play rules, look it up!).

The Club won't exsist in years to come because of 'expenditure % set against gross income' (don't take my word for it, look it up), just research what others say including Mark Robins, Paul Fletcher, Ray Ranson & Geoffrey Robinson amongst many, many other 'high' profile figures.

Basically 'Coventry City Council' have never done enough to help or assist CCFC why????????????

However they've continually 'used' ACL as a 'Political' football IMHO!

NO PARTY COMES OUT OF THIS 'DEBACLE' with ANY credit IMHO, including SISU but far too many others are complicit and are not either commenting (for legal reasons) or are being being MORE THAN LIMITED WITH THE TRUTH.

I just wish ALL parties would take a couple of steps back and consider the supporters, the history, the community & dedication time and money that so many have given over a lifetime but also those new young fans that may well be lost forever, WITHOUT A SENSIBLE SOLUTION TO THIS AWFUL MESS!

Well I can dream, can't I??????????

If SISU want a share of other Revenue streams, then they need to pay a going rate, like the rest of the world. They want the Ricoh for naff all - and if they get it, I'm not convinced that any ££££ will come to the club, but ££££ will certainly go to the hedge fund investors. Take SISU out of the equation and of course I want our club/owners to access all revenue streams.

 

[oldskyblue58]

Think next step will be more legal stuff Harry . Sisu want their hands on the Ricoh and will try to distress ACL and their stakeholders to get their hands on it. They will do this by sueing everything that moves in an effort to drain funds from their targets. Its about a battle of who has the deepest pockets - what it isnt is who is wrong or who is right. They are prepared to go to Sixfields for a period to do it What that means for the one thing the fans care about - the team - god knows but I can not see it being good. So this is not the end and where that end is I have no real idea


* edit name

 

[deanocity3]

the gates of hell are about to open

 

[ccfcway]

Think next step will be more legal stuff SBHH. Sisu want their hands on the Ricoh and will try to distress ACL and their stakeholders to get their hands on it. They will do this by sueing everything that moves in an effort to drain funds from their targets. Its about a battle of who has the deepest pockets - what it isnt is who is wrong or who is right. They are prepared to go to Sixfields for a period to do it What that means for the one thing the fans care about - the team - god knows but I can not see it being good. So this is not the end and where that end is I have no real idea

I'll be honest, I dont even know who SBHH are ? Is this Holdings, or a new company ?

 

[ccfcway]

the gates of hell are about to open

Can we drop Fisher in ?

 

[Steve.B50]

Tell me something nice?