Coventry Athletic (7 Viewers)

GaryPendrysEyes · Dec 14, 2013

Depends what you mean by 'the club'.
The club is about Coventry and the fans more than anything. The fact is its not in Coventry,maybe for years, and 'home' gates are terrible --what is increasingly keeping the club alive is actually away support.

bigfatronssba · Dec 14, 2013

Nick said:
Oh, here is me asking for proof the club won't exist? That isn't a fact, it's an opinion.

Its an educated guess.

FFP will kick in soon, meaning within a few years a competitive team will not be possible.

Rusty Trombone · Dec 14, 2013

RFC said:
Would never ever support any team other than Coventry City FC whoever owns the club or wherever they play (always assuming & believing, they'll be back in Coventry), although must say I don't think it'll be at the Ricoh.

Always optimistic, this may not end well for you.....

James Stockdale – a veteran who survived almost 8 years in a P.O.W. camp was asked if the people who didn’t make it had anything in common, he said this:
“Oh, that’s easy, the optimists. Oh, they were the ones who said, ‘We’re going to be out by Christmas.’ And Christmas would come, and Christmas would go. Then they’d say, ‘We’re going to be out by Easter.’ And Easter would come, and Easter would go. And then Thanksgiving, and then it would be Christmas again. And they died of a broken heart.”
“This is a very important lesson. You must never confuse faith that you will prevail in the end—which you can never afford to lose—with the discipline to confront the most brutal facts of your current reality, whatever they might be.”

Deleted member 5849 · Dec 14, 2013

GaryPendrysEyes said:
Depends what you mean by 'the club'.
The club is about Coventry and the fans more than anything. The fact is its not in Coventry,maybe for years, and 'home' gates are terrible --what is increasingly keeping the club alive is actually away support.

Coventry City (Holdings) will soon be no more, so the physical entity, the club that has been Coventry City soon won't exist anyway...

bigfatronssba · Dec 14, 2013

Jack Griffin said:
That is actually the lowest attendance in the whole division this season.

http://espnfc.com/stats/_/league/eng.3/english-league-one?cc=5739

In fairness I think all but 2 sixfields games could claim that title, not just this game!

Grendel · Dec 14, 2013

bigfatronssba said:
Its an educated guess.

FFP will kick in soon, meaning within a few years a competitive team will not be possible.

No at worst it means a transfer embargo and probably not even that.

More lies and deception.

Spionkop · Dec 14, 2013

Only Morecambe and Accrington had lower gates than us today. Tuesday will see under 1,000 attend a CCFC game for the first time in over a hundred years. The screws are turning on Sisu.

bigfatronssba · Dec 14, 2013

Grendel said:
No at worst it means a transfer embargo and probably not even that.

More lies and deception.

If FFP isn't important (and therefore income streams also aren't), can you tell me why my club isn't playing in my city?

Grendel · Dec 14, 2013

bigfatronssba said:
If FFP isn't important (and therefore income streams also aren't), can you tell me why my club isn't playing in my city?

It is important as additional revenue allows a calacity to build a stronger squad but its something you keep saying will force us to sell players. It won't even if we don't get dispensation which we almost certainly will.

bigfatronssba · Dec 14, 2013

Grendel said:
It is important as additional revenue allows a calacity to build a stronger squad but its something you keep saying will force us to sell players. It won't even if we don't get dispensation which we almost certainly will.

Source? Or is that more lies and deception?

SkyBlueHomer · Dec 15, 2013

Nick said:
Is it proof or an opinion? Does that line confirm the club won't exist?

We have the 4th worst average attendance for the season so far in the entire country. Only Morecombe, Dagenham & Acrington have an average worse than ours. To put things into perspective in the conference Luton, Wrexham, Grimsby, Cambridge, Chester & Lincoln's is better than ours! (Stats taken from Football365)How long do you think this farce can carry on? I'd be interested to hear your opinion on this......

Grendel · Dec 15, 2013

SkyBlueHomer said:
We have the 4th worst average attendance for the season so far in the entire country. Only Morecombe, Dagenham & Acrington have an average worse than ours. To put things into perspective in the conference Luton, Wrexham, Grimsby, Cambridge, Chester & Lincoln's is better than ours! (Stats taken from Football365)How long do you think this farce can carry on? I'd be interested to hear your opinion on this......

You are assuming that the low attendance means unsustainable funding. The claim is that the gap is being funded so attendances are largely irrelevant

SkyBlueHomer · Dec 15, 2013

Grendel said:
You are assuming that the low attendance means unsustainable funding. The claim is that the gap is being funded so attendances are largely irrelevant

Under normal circumstances yes, but we have FFP guidelines to follow. This means we have a budget of a mid table conference team. We are going only 1 way unless the tide turns fast

Sky Blue Pete · Dec 15, 2013

That's the reality as most of my football friends who follow other teams see it. Utterly unsustainable!! If sisu fund losses for this season I will be gobsmacked!!

Rusty Trombone · Dec 15, 2013

Grendel said:
You are assuming that the low attendance means unsustainable funding. The claim is that the gap is being funded so attendances are largely irrelevant

If someone on here stated all that, I think you'd be asking for some evidence. How long do you think they will fund the gap?

Grendel · Dec 15, 2013

Rusty Trombone said:
If someone on here stated all that, I think you'd be asking for some evidence. How long do you think they will fund the gap?

They provided a 3 year funding plan to the Football League. No one knows who is funding it but the losses in real finance terms are not huge. We also don't know the motivation for funding but we we know a plan was approved.

Rusty Trombone · Dec 15, 2013

Grendel said:
They provided a 3 year funding plan to the Football League. No one knows who is funding it but the losses in real finance terms are not huge. We also don't know the motivation for funding but we we know a plan was approved.

Most business plans are the spreadsheet version of keeping your fingers crossed. If I had my money managed by SISU I would be getting worried that they are out of their depth.

DazzleTommyDazzle · Dec 15, 2013

Grendel said:
They provided a 3 year funding plan to the Football League. No one knows who is funding it but the losses in real finance terms are not huge. We also don't know the motivation for funding but we we know a plan was approved.

When I spoke to the FL back in August and asked them how they had been convinced that the club could not possibly play in Coventry, I was told that Otium/SISU had told them so.

I have no reason to believe that their due diligence on the funding plan was any less facile.

Deleted member 5849 · Dec 15, 2013

DazzleTommyDazzle said:
When I spoke to the FL back in August and asked them how they had been convinced that the club could not possibly play in Coventry, I was told that Otium/SISU had told them so.

I have no reason to believe that their due diligence on the funding plan was any less facile.

If you fancy being a dear you can probably find the answer

Standard SISU pratice is funds for 8 years, extended to 10 if needed. The 10 year extension would take you to football league covering... but 8 years sees our time up in 2015 at the latest.

However, a little nagging thought has me recall something about them using new funds now... I just can't be bothered to check now, it's sad enough I wake up and read this with my tea and toast, without going beyond passive engagement

8-10 years, that'd be fun(!)

Deleted member 5849 · Dec 15, 2013

Ah, found the (suggested!) answer:

Joy Seppala said:
The financial industry has contracted. But our private equity funds are the same funds we’ve always had. The hedge funds have contracted but the private equity funds are not dependent on market fluctuations. They have long term investors. They put the money in. They do not take it in and out.

My emphasis.

I reckon 2015 is absolute judgement day for a review of if working or not...

Snozz_is_god · Dec 15, 2013

Grendel, when this farce unravels itself in the months and years to come. You are going to look a right plonker.

Deleted member 5849 · Dec 15, 2013

Deleted member 5849 said:
Ah, found the (suggested!) answer:

My emphasis.

I reckon 2015 is absolute judgement day for a review of if working or not...

Although nice of me to put my random thoughts without foundation on a message board

As the idea was buy a football club, any football club, I'm thinking too CCFC centrically. Am guessing the funds were allocated once 'buy football club' became the plan...

DazzleTommyDazzle · Dec 15, 2013

Deleted member 5849 said:
If you fancy being a dear you can probably find the answer

Standard SISU pratice is funds for 8 years, extended to 10 if needed. The 10 year extension would take you to football league covering... but 8 years sees our time up in 2015 at the latest.

However, a little nagging thought has me recall something about them using new funds now... I just can't be bothered to check now, it's sad enough I wake up and read this with my tea and toast, without going beyond passive engagement

8-10 years, that'd be fun(!)

If I was going to be any other species, deer wouldn't be too bad....

As I think you know, I was suggesting that based on what they told me, I could imagine that their approval of the plan was probably based on them asking SISU if they really had the money and then saying - OK that's good!

Deleted member 5849 · Dec 15, 2013

DazzleTommyDazzle said:
If I was going to be any other species, deer wouldn't be too bad....

As I think you know, I was suggesting that based on what they told me, I could imagine that their approval of the plan was probably based on them asking SISU if they really had the money and then saying - OK that's good!

Of course, but it's more fun to guess the answer

I'd also guess the proof went something along the lines of 'here's our standard practice with our private equity funds - see? we have time left' and no more.

At which point you smile and nod, having got a bit lost as they start talking Binomial Tree Parameters for no real reason other than small talk... and usher them out the door!

DazzleTommyDazzle · Dec 15, 2013

Deleted member 5849 said:
Of course, but it's more fun to guess the answer

I'd also guess the proof went something along the lines of 'here's our standard practice with our private equity funds - see? we have time left' and no more.

At which point you smile and nod, having got a bit lost as they start talking Binomial Tree Parameters for no real reason other than small talk... and usher them out the door!

Frankly I doubt they were ever in the same room - quick phone call should have sufficed......

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