dongonzalos
Well-Known Member
I suppose whilst there is a suggestion that the football business experts can't understand what ACL are doing. To provide a counter view
A TOP football finance expert has said moves to force Coventry City into administration leave the door open for a takeover.
Brendan Guilfoyle has allayed fears that the Sky Blues could be days away from being wound up after stadium operating company Arena Coventry Ltd (ACL) applied to put the club into administration.
The Telegraph revealed yesterday the latest move in the bitter battle between the stadium owners and Coventry City Football Club.
ACL’s application will be heard at the High Court next Friday and could result in a ten-point deduction in League One this season.
Mr Guilfoyle, who has acted as administrator for numerous professional sports clubs, including Crystal Palace and Luton, ruled out the possibility of Coventry City being plunged straight into liquidation – as the club had suggested.
“An experienced administrator would hopefully find a way for the club to fulfil its fixtures and find a buyer,” he said. “As far as I can see, ACL have moved because the club keeps threatening liquidation. Administration is a more positive development in terms of keeping the club in existence.”
Mr Guilfoyle said if the club goes into administration the Football League would suspend its “share” – or league place.
He added: “Then, providing the club can exit through a Company Voluntary Arrangement, the league will restore that share – normally to a new company.
“And the club’s league position, subject to sporting sanctions, will be reinstated. I don’t want to say ‘someone will always come forward’, but there are no reasons why there won’t be potential purchasers here.”
Read More http://www.coventrytelegraph.net/coventry-city-fc/coventry-city-fc-news/2013/03/15/administration-leaves-door-open-for-takeover-at-coventry-city-92746-32995318/#ixzz2NcESLc4j
A TOP football finance expert has said moves to force Coventry City into administration leave the door open for a takeover.
Brendan Guilfoyle has allayed fears that the Sky Blues could be days away from being wound up after stadium operating company Arena Coventry Ltd (ACL) applied to put the club into administration.
The Telegraph revealed yesterday the latest move in the bitter battle between the stadium owners and Coventry City Football Club.
ACL’s application will be heard at the High Court next Friday and could result in a ten-point deduction in League One this season.
Mr Guilfoyle, who has acted as administrator for numerous professional sports clubs, including Crystal Palace and Luton, ruled out the possibility of Coventry City being plunged straight into liquidation – as the club had suggested.
“An experienced administrator would hopefully find a way for the club to fulfil its fixtures and find a buyer,” he said. “As far as I can see, ACL have moved because the club keeps threatening liquidation. Administration is a more positive development in terms of keeping the club in existence.”
Mr Guilfoyle said if the club goes into administration the Football League would suspend its “share” – or league place.
He added: “Then, providing the club can exit through a Company Voluntary Arrangement, the league will restore that share – normally to a new company.
“And the club’s league position, subject to sporting sanctions, will be reinstated. I don’t want to say ‘someone will always come forward’, but there are no reasons why there won’t be potential purchasers here.”
Read More http://www.coventrytelegraph.net/coventry-city-fc/coventry-city-fc-news/2013/03/15/administration-leaves-door-open-for-takeover-at-coventry-city-92746-32995318/#ixzz2NcESLc4j
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