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NEWS Coventry City: Joy Seppala blames ACL for her woes
Joy Seppala, CEO of SISU Capital, former and would be owners of Coventry City FC has launched a withering attack on Ricoh Arena owners, ACL. The statement released today astonishingly manages to place all the responsibility for the problems of the current state of affairs on ACL, and is surely the final nail in the coffin to the idea that publicity shy Seppala is not an active participant in the affairs of the Club.
Indeed, it surely now means that she will have to at the very least be subject to the Football League Owners and Directors test, under which she will have earned ‘one strike’ under the provisions that ban directors from presiding over two or more insolvency episodes at a member club.
In the statement issued on the Coventry City FC website (a club which, in case we’d forgotten, is still in administration and therefore supposed to be under the control of Paul Appleton, the administrator, until creditors [mostly SISU] sign off the deal) Joy Seppala manages to accuse ACL of being the root of the entire problem around the stadium.
This incredible accusation comes despite the fact that Coventry City FC itself was a 50% owner of the stadium before selling up its share – before SISU bought the Club! Indeed, the £1.2m rent was part of the deal by that SISU under Seppala signed off! Astonishing indeed.
The fact that SISU went into the deal with their eyes open appears to have escaped Joy Seppala, whose hedge fund over recent years has apparently been performing poorly. Under her direction, the Club has sunk from the Championship with an average gate of 21,000, to sharing at Northampton Town with a widely rumoured season ticket base of just 300.
Not a great success by any measure. It makes you wonder why they bothered investing in a football club in the first place. Seppala is also member of the Takeover Panel in the City of London – a statutory body that regulates corporate behaviour – specifically around takeovers. - See more at: http://www.supporters-direct.org/ne...ng-attack-by-joy-seppala#sthash.7MkTyKnW.dpuf
http://www.supporters-direct.org/news-article/coventry-city-astonishing-attack-by-joy-seppala
Joy Seppala, CEO of SISU Capital, former and would be owners of Coventry City FC has launched a withering attack on Ricoh Arena owners, ACL. The statement released today astonishingly manages to place all the responsibility for the problems of the current state of affairs on ACL, and is surely the final nail in the coffin to the idea that publicity shy Seppala is not an active participant in the affairs of the Club.
Indeed, it surely now means that she will have to at the very least be subject to the Football League Owners and Directors test, under which she will have earned ‘one strike’ under the provisions that ban directors from presiding over two or more insolvency episodes at a member club.
In the statement issued on the Coventry City FC website (a club which, in case we’d forgotten, is still in administration and therefore supposed to be under the control of Paul Appleton, the administrator, until creditors [mostly SISU] sign off the deal) Joy Seppala manages to accuse ACL of being the root of the entire problem around the stadium.
This incredible accusation comes despite the fact that Coventry City FC itself was a 50% owner of the stadium before selling up its share – before SISU bought the Club! Indeed, the £1.2m rent was part of the deal by that SISU under Seppala signed off! Astonishing indeed.
The fact that SISU went into the deal with their eyes open appears to have escaped Joy Seppala, whose hedge fund over recent years has apparently been performing poorly. Under her direction, the Club has sunk from the Championship with an average gate of 21,000, to sharing at Northampton Town with a widely rumoured season ticket base of just 300.
Not a great success by any measure. It makes you wonder why they bothered investing in a football club in the first place. Seppala is also member of the Takeover Panel in the City of London – a statutory body that regulates corporate behaviour – specifically around takeovers. - See more at: http://www.supporters-direct.org/ne...ng-attack-by-joy-seppala#sthash.7MkTyKnW.dpuf
http://www.supporters-direct.org/news-article/coventry-city-astonishing-attack-by-joy-seppala
