Coventry City financial director quits (1 Viewer)

Sub · Mar 12, 2012

according to the telegraph- more to follow

http://www.coventrytelegraph.net/co...nancial-director-quits-report-92746-30512216/

derbyskyblue · Mar 12, 2012

Now what are we going to do

Otis · Mar 12, 2012

Up to the plate steps Jim the Gateman.

Or CWR Ian.

The soothsayer · Mar 12, 2012

He is off to rangers for a quiet life.

Godiva · Mar 12, 2012

ohhh ... more stuff for the conspiracy minded

Late accounts -> Financial director 'quit'

Did he indeed quit? Or was he sacked and left by mutual concent?

sw88 · Mar 12, 2012

Another one who's only been here short term and suddenly left! Was he another one Dollally recruited?

aloisiwouldhavescored · Mar 12, 2012

So the revolving doors turn again.

We need to have two separate doors now as they are so busy, one for the managers and the other for the board/SISU as the turning seem to be never ending. Have you heard of any other club who have had so many comings and goings?

Makes you wonder why no-one ever stays, whether they be in finance, marketing or whatever. Do they take the job and when they find out that they will not be allowed to do their job properly they leave/are pushed.

05rengla · Mar 12, 2012

can anyone copy and paste the story from coventry telegraph?

i cant get on their website

singers_pore · Mar 12, 2012

So how many finance directors have we had since SISU took over? I've lost count.

Of course, this has nothing at all to do with SISU's incompetence as owners of the business. Don't make me laugh!

Sub · Mar 12, 2012

COVENTRY CITY'S financial director Gary Ambrose has left the club, according to reports.
Reports have emerged on Monday citing that Ambrose had quit from his key role at the Sky Blues.
More to follow.

Read More http://www.coventrytelegraph.net/co...or-quits-report-92746-30512216/#ixzz1otXXajlK

Mary_Mungo_Midge · Mar 12, 2012

We must do our company 'Organogram' in fuzzy-felt.

Absolute joke

AFCCOVENTRY · Mar 12, 2012

So who is going to complete our accounts now?
Fecks sake this club is a joke

skyblueinBaku · Mar 12, 2012

They obviously can't use name plates on office doors. They use wipe-clean boards and write names with felt tip pen. What a farce the 'organisation' of this club is!

Godiva · Mar 12, 2012

AFCCOVENTRY said:
So who is going to complete our accounts now?
Fecks sake this club is a joke

I think the accounts have been completed - it's the financing of next season that is incomplete.

Brighton Sky Blue · Mar 12, 2012

Seems like he's joined Duffy and Wyken in the cellar.

rob9872 · Mar 12, 2012

OSB please offer them your services for free and then tell us wtf is going on!

Jim · Mar 12, 2012

Godiva said:
I think the accounts have been completed - it's the financing of next season that is incomplete.

Without agreement on financing for next season the accounts cannot be completed as they may have to be restated.

Godiva · Mar 12, 2012

Jim said:
Without agreement on financing for next season the accounts cannot be completed as they may have to be restated.

Really?
The accounts are the status of the club at a specific time in the past.
Financing next season is about getting funds to run the club in the future (from july 2012 to june 2013).
The accounts will be signed off by the auditors when proof of funds is secured.

DazzleTommyDazzle · Mar 12, 2012

Godiva said:
Really?
The accounts are the status of the club at a specific time in the past.
Financing next season is about getting funds to run the club in the future (from july 2012 to june 2013).
The accounts will be signed off by the auditors when proof of funds is secured.

Yes really.

Without financing in place the auditors won't sign off the accounts on a going concern basis. Consequently they'll have to be redrafted on a realiseable value basis.

crowsnest · Mar 12, 2012

Said on the radio he has left for personal reasons.

oldskyblue58 · Mar 12, 2012

Would be happy to help rob but I dont see why the club shouldnt pay me.

Cant see them wanting me there either - would ask too many questions they wouldnt like.

I agree with what Jim and DTD have said about the accounts Godiva, the Board have to prove there is a sustainable way forward that sees the club as a going concern for at least 12 months after the auditors sign off. Clearly all the work in that respect has not been completed. If that plan isnt sustainable then it means the accounts cannot be prepared on a going concern basis (the usual basis ) and the assets and liabilities will need re evaluating to reflect values on an alternative basis.

the plan doesnt mean that SISU have or will have a pot of money to put in - it means there is access to funding from various sources (including player sales) and that the major creditors (SISU investors) do not intend calling their debt in. I think SISU see themselves as a last resort as far as actually putting money in, ie will use all other sources first before they pick up the shortfall

I think they have left the budget planning late because of the talks with GH and because of the league position. Reasonable to a degree BUT it still smacks of a lack of proper process to me. The business is still there with or without GH or whether in Championship or League 1 - surely a good business already has its alternatives at its finger tips so it is proactive not reactive

The finance director going could be because he has found a better job elsewhere, it could be a clash of personalties (there are some there I wouldnt want to work for), BUT it is further evidence of poor leadership and a club in crisis.

@richh87 · Mar 12, 2012

Haha, it's clearly because SISU are dodgy as f*ck!

Anyone who gets a glance of their accounts runs a mile!

oldskyblue58 · Mar 12, 2012

errr the finance director at CCFC wont get a look at accounts for SISU rich

but it is worrying that senior staff keep leaving

Sub · Mar 12, 2012

http://www.coventrytelegraph.net/co...ntry-city-due-to-long-commute-92746-30514448/

long commute the reason given for the departure:thinking about:

dongonzalos · Mar 12, 2012

Nobody wants to be the one whose name goes beside the sale of every Coventry City professional in the summer......

dongonzalos · Mar 12, 2012

Sub said:
http://www.coventrytelegraph.net/co...ntry-city-due-to-long-commute-92746-30514448/

long commute the reason given for the departure:thinking about:

I wonder if if he had any idea of the commute before he took the job. What a load of Tosh I wish he was able to speak freely and say why he is leavinf, Bloody confidentiality clauses :wave:

Chipfat · Mar 12, 2012

3 different people leave the same post in 9 months, that says all we need to know. And even if this one is genuine, who is going to believe them... Lies on lies equals no trust and no confidence in anything SISU do, they deserve the same ammount of respect as they are showing us ,,, NONE!!!!!

DazzleTommyDazzle · Mar 12, 2012

I suppose at least "long commute" makes a change from the old favourites of "to spend more time with his family" and "to explore other business opportunities".

Sub · Mar 12, 2012

ken made it from portugal every week

skyblueinBaku · Mar 12, 2012

Sub said:
ken made it from portugal every week

Yeah, and the long journey didn't stop him from doing a good job.

blueflint · Mar 12, 2012

didn't know we had one :thinking about::thinking about::thinking about:

SkyBlue_Bear83 · Mar 12, 2012

Sub said:
ken made it from portugal every week

What a hero, they should build him a statue outside the Ricoh

Sub · Mar 12, 2012

not enough orange paint in the city for that

Nick · Mar 12, 2012

Too much of a commute??? Surely he knew that before he took the job?

coundonskyblue · Mar 12, 2012

Nick said:
Too much of a commute??? Surely he knew that before he took the job?

Seems to be a re-occuring theme. You would have thought Sisu would have known we were losing millions of pounds, didnt own the stadium, and needed significant investment before they took over as well.

Guess its easy to overlook these little details.

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