Club Statement (1 Viewer)

[The CableGuy]

http://www.ccfc.co.uk/news/article/ccfc-statement-200313-728300.aspx

Statement on behalf of Coventry City Football Club (Holdings) Ltd
Coventry City Football Club Holdings can confirm that a non-operating subsidiary of the Club has today been placed into administration.

A spokesman for the Club said: “It is important to stress that the Football Club itself is not under threat.

“This is merely a property subsidiary which owns no material assets and has no employees, on or off the pitch.

“The Club can confirm that all staff wages, PAYE and all other creditor commitments will continue to be met as before by Coventry City Football Club Holdings.

“Unlike other instances of clubs being taken either wholly or partially into administration, there are no HMRC or VAT implications and the Football Club will continue to trade as normal without interruption.

“Our main objective now is to remain competitive on the pitch and give Steven Pressley and the playing staff our full backing and commitment.”

 

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[wingy]

http://www.ccfc.co.uk/news/article/ccfc-statement-200313-728300.aspx

Statement on behalf of Coventry City Football Club (Holdings) Ltd
Coventry City Football Club Holdings can confirm that a non-operating subsidiary of the Club has today been placed into administration.

A spokesman for the Club said: “It is important to stress that the Football Club itself is not under threat.

“This is merely a property subsidiary which owns no material assets and has no employees, on or off the pitch.

“The Club can confirm that all staff wages, PAYE and all other creditor commitments will continue to be met as before by Coventry City Football Club Holdings.

“Unlike other instances of clubs being taken either wholly or partially into administration, there are no HMRC or VAT implications and the Football Club will continue to trade as normal without interruption.

“Our main objective now is to remain competitive on the pitch and give Steven Pressley and the playing staff our full backing and commitment.”

Lock these slimey cunts out .

 

[SkyBlue_Bear83]

I have no idea what this means, points deduction coming this season, next or not at all?

 

[Gray]

so is tomorrow court thing happening? this is really confusing!

 

[Flying Fokker]

What now ACL?

 

[Nonleagueherewecome]

So it doesn't tell us anything-indeed it implies that the club itself is fine? So in that case this has no bearing on tomorrow? How can a company with no assets and employees go bust? Why, what, for what reason are they doing this?!?!?!?

 

[SkyBlue_Bear83]

Lock these slimey c-units out .

Yea you would love it if we got kicked out the league for failing to fulfil our fixtures

 

[kg82]

I'm glad I'm not the only one who is confused!

 

[ccfcdan]

Thanks for clearing that up ccfc, for a while there I didnt have a clue what was going on! Much clearer now.

 

[jon92]

Court will still happen tomorrow

 

[Bugsy]

Just another twist in the tail

 

[The CableGuy]

Isn't this the same trick that Southampton attempted a few season ago?

"We're not in Admin, this other company is! It has nothing to do with us really, your Honor!"

 

[Grendel]

So it doesn't tell us anything-indeed it implies that the club itself is fine? So in that case this has no bearing on tomorrow? How can a company with no assets and employees go bust? Why, what, for what reason are they doing this?!?!?!?

One would imagine this "subsidiary" pays the rent.

This is very different to the Southampton situation actually as the clubs parent company in this instance is clearly not insolvent.

 

[sw88]

So it doesn't tell us anything-indeed it implies that the club itself is fine? So in that case this has no bearing on tomorrow? How can a company with no assets and employees go bust? Why, what, for what reason are they doing this?!?!?!?

Still non the wiser

 

[Tonylinc]

So it doesn't tell us anything-indeed it implies that the club itself is fine? So in that case this has no bearing on tomorrow? How can a company with no assets and employees go bust? Why, what, for what reason are they doing this?!?!?!?

That my fiend is a question for OSB......OSB are you here?

 

[ccfcway]

they wont get away with it...

everyone would be at it..

Create a company, dont pay the bills, fold the company, create a new company, dont pay the bills etc

Looks like SISU are playing the whole "we dont owe any VAT"

Well, we still have unpaid bills..

Football league wont have any of this.

 

[Senior Vick from Alicante]

The games afoot Dr Watson. Any body got any ideas about what the crafty shots are up to?

 

[PhilWasn'tBabb]

It'll be interesting to see if SISU get away with it, I still admire there balls.

 

[Diehard Si]

Completely and utterly confused. Does this affect us?

If it's Arvo, so the company that all our debts are supposed to go to on wind up, what does that mean?

 

[Desperados]

Transparent as ever....

 

[PhilWasn'tBabb]

they wont get away with it...

everyone would be at it..

Create a company, dont pay the bills, fold the company, create a new company, dont pay the bills etc

Looks like SISU are playing the whole "we dont owe any VAT"

Well, we still have unpaid bills..

Football league wont have any of this.

It's only one bill there not paying. Everything else is up to date.. Wages, Vat, PAYE

 

[Nonleagueherewecome]

There are presently 10 threads 1 minute old. Get the cooling oil Nick, the server's gonna melt!

 

[covkid69]

if shitzu feck about playing stupid games is their a chance the football league could hit us hard like luton etc

 

[Covstu]

I have no idea what this all means, this doesn't seem to serve a purpose!!

 

[leicesterskyblue]

if all the debt goes to another "company" and they fold, who is responsible for that debt? is it written off? if so can see why its happening, BUT why doesnt every one do that?

 

[sw88]

There are presently 10 threads 1 minute old. Get the cooling oil Nick, the server's gonna melt!

Its gone into overload. And all are waiting for one thing; OSB to come on here and help us understand all this stuff....

 

[Nonleagueherewecome]

It'll be interesting to see if SISU get away with it, I still admire there balls.

Joy's ball's of steel? Still reckon that makes her a he....

 

[Sky Blues]

http://www.ccfc.co.uk/news/article/ccfc-statement-200313-728300.aspx

Statement on behalf of Coventry City Football Club (Holdings) Ltd
Coventry City Football Club Holdings can confirm that a non-operating subsidiary of the Club has today been placed into administration.

A spokesman for the Club said: “It is important to stress that the Football Club itself is not under threat.

“This is merely a property subsidiary which owns no material assets and has no employees, on or off the pitch.

“The Club can confirm that all staff wages, PAYE and all other creditor commitments will continue to be met as before by Coventry City Football Club Holdings.

“Unlike other instances of clubs being taken either wholly or partially into administration, there are no HMRC or VAT implications and the Football Club will continue to trade as normal without interruption.

“Our main objective now is to remain competitive on the pitch and give Steven Pressley and the playing staff our full backing and commitment.”

What's the betting this subsidiary is the one that has the rental agreement with ACL and which owes it £1.3m. Bingo - rental agreement broken and debt cleared.
If so, which pitch would we play on then?

 

[wingy]

Yea you would love it if we got kicked out the league for failing to fulfil our fixtures[/QUOTE

However you look at it CCFC their actions and tactics have been appalling and they deserve no benevolence from ACL whatsoever .They played Russian roullette with our club for 2 seasons now ]relying on fans fears and emotions to pull it off for them and their cronies after making a complete Horlicks of our club.
Live like a Pikey ,expect tp pull the caravan around from time to time.

 

[Blue Maniac]

See you all at the Kung Pao Bowl next season then?

 

[wingy]

What's the betting this subsidiary is the one that has the rental agreement with ACL and which owes it £1.3m. Bingo - rental agreement broken and debt cleared.
If so, which pitch would we play on then?

We need OSB ,sure he will be on when he's digested things,pretty sure the lease re rent lies in CCFC ltd.

 

[sky blue john]

One would imagine this "subsidiary" pays the rent.

This is very different to the Southampton situation actually as the clubs parent company in this instance is clearly not insolvent.

And you have all the figures to back your statement up ????????????

 

[Sub]

so SISU are saying its not the club in administration but they post a statement about being in administration on the club homepage :facepalm::facepalm::facepalm::facepalm::facepalm::facepalm:WTF:thinking about::thinking about::thinking about::thinking about::thinking about::thinking about:

 

[McLovin87]

WHAT ARE YOU ALL CONFUSED ABOUT;"There are known knowns; there are things we know we know.
We also know there are known unknowns; that is to say, we know there are some things we do not know.
But there are also unknown unknowns – the ones we don’t know we don’t know."

There you go!

 

[dennisswifty2001]

I just get the feeling that this is just going to drag on and on, I am getting to the point where I could not care less.