He made his mind up months ago when they appointed him, he just had to wait for their pr vehicles to ensure he said and did the appropriate things. Hopefully no other football jobs will come his way now after this debacle.
The administrator for the part of Coventry City which is in administration has said the bid put forward by Otium Entertainment Group Limited was 'substantially more' than the three other offers received.
The company is connected to Sisu, who took over the Sky Blues in 2007.
The bid from Otium Entertainment Group Limited was substantially more than any of the other three bids received– Paul Appleton, administrator for Coventry City FC Ltd
and was the bid which gave the greatest return to the unsecured, non-connected creditors of CCFC Limited by a considerable margin.
why did they let it go to admin in the first place when all that money could have paid rent and bought players
What's with the hysterical reactions? The club isn't finished, and I still don't think we will leave Coventry. SISU are under no illusions that the fans would not follow it, and ACL I believe will do what they can to keep the club here (certainly if the rumours circulating about Compass are true).
So, we'll be back to square one, but we will still have a club to fight for. This isn't the end, and it wouldn't surprise me if there were another few twists to come.
It had to be the only outcome - creditors owed £45m or whatever it was, the next biggest creditor was ACL at £1.3m ish. All it would take was SISU to offer full repayment to the major creditor and thats that.
What annoys me is why it took so long. Everyone knew what was going to happen, so why the constant delays?
What's with the hysterical reactions? The club isn't finished, and I still don't think we will leave Coventry. SISU are under no illusions that the fans would not follow it, and ACL I believe will do what they can to keep the club here (certainly if the rumours circulating about Compass are true).
So, we'll be back to square one, but we will still have a club to fight for. This isn't the end, and it wouldn't surprise me if there were another few twists to come.
Purely to break the lease with ACL I think. It's not just the 1.3mil or whatever, it's all the future instalments they've now got out of. Well worth it.
Has the bid got to pass the football league or has this already been done?
A lot of us were praying that the administrator had an impartial bone in his body, rather than Joy's cock up his rectum.
But surely ACL will receive a bigger lump sum then. The lease is a contract, however many years? Or is there no obligation on future commitments?
Nah, lease is broken as I understand it - so no lore payments, and won't even get the full amount due as SISUs offer may only be 10p in the pound for example.
However, the bid from Otium Entertainment Group Limited was substantially more than any of the other three bids received
I wonder how much PH4 bid then?
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