italiahorse
Well-Known Member
I thought that.
If you have taken out £20M during your ownership in fees and left debt in the club but liquidate it and anybody owed money looses out.
Have you made £20M?
When they announce the Ricoh deal who's going? (8 Viewers)
- Thread starter italiahorse
- Start date
I thought that.
If you have taken out £20M during your ownership in fees and left debt in the club but liquidate it and anybody owed money looses out.
Have you made £20M?
Sky Blue Spud
Member
The reason why they would be of a mind to liquidate is that there virtually no assets to sell and by continuing to fund of the club in the long term will inevitably cost them even more money. I'm sorry to say that liquidation makes perfect sense by cutting their losses now.
shmmeee
Well-Known Member
I'm not sorry. Bring on liquidation and an end to this bollocks.
thaiskyblue
New Member
this situation does need to be brought a conclusion now, if we keep playing at shitfields for another year or two , the club's future fan base will be non exsistant.
covcity4life
Well-Known Member
liquadation will fix everything!
jsut like adminsitration did.........
jsut like adminsitration did.........
thaiskyblue
New Member
the current malaize is staggering Mark , future generations of fans are being lost , whatever the outcome ?, it needs sorting, and sorting now !
mark82
Super Moderator
Made money out of us? Are you on crack? Anyway, it's an investment fund, they couldn't just brush it under the carpet as there are multiple investors.
You have to be careful what you say, it's known that people at the club read these boards and you are making allegations of fraud, not only against their own investors but against the taxman. Just make sure you have evidence to back these things up. Please read the sticky post on libel, would hate someone to get done for saying something silly.
shmmeee
Well-Known Member
What's the alternative to liquidation for a healthy club going forward?
Sisu load more debt onto the club then sell it off, resulting in a huge debt to the new owner?
Arab sheik buys us then pops his clogs?
Get the club earning a profit and pay back the debt over the next 80 years?
Honestly, if there's a better idea than liquidation out there I want to see it. We won't disappear, more likely (especially under the current circumstances) that the League knock us into the Conference or something. At which point we're truly back to square one financially for the first time since the 90s. Options like fan ownership, or another sensible stable sustainable model become available, rather than "I hope some corporation wants to build Nandos near a football stadium" (Fuck me, we'd bankrupt Jordan Clarke).
Sisu load more debt onto the club then sell it off, resulting in a huge debt to the new owner?
Arab sheik buys us then pops his clogs?
Get the club earning a profit and pay back the debt over the next 80 years?
Honestly, if there's a better idea than liquidation out there I want to see it. We won't disappear, more likely (especially under the current circumstances) that the League knock us into the Conference or something. At which point we're truly back to square one financially for the first time since the 90s. Options like fan ownership, or another sensible stable sustainable model become available, rather than "I hope some corporation wants to build Nandos near a football stadium" (Fuck me, we'd bankrupt Jordan Clarke).
Grendel
Well-Known Member
You sound surprised.
fernandopartridge
Well-Known Member
The phoenix club idea is a non starter imo. Coventry has very fickle support. Look at the drop in gates on relegation to L1. Compares terribly with comparable clubs.
D
Deleted member 5849
Guest
Not if we plummetted into the depths of non league!
Incidentally, wouldn't be the football league's choice if we were to enter the conference or not.
stupot07
Well-Known Member
That's right, once we're expelled from the league it will be the FA's decision not the FL, the FL will have no say in the matter. Personally I think we'd have to drop lower than the conference, maybe the league below that.
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You all talk of liquidation as if it's us steering the ship . Now that the consensus is that spending another 30 million is not a serious option for otium , it is they that will make the choice ! I believe that it is possessing the Ricoh or liquidation . They would lose in the region of 40 mil if they shut up shop , with their "fortitude " intact . There is a faint chance that their bankers would order a more passive line and accept a long term draw off banking on one or two promotions . We all think that JS calls the tune but, who pays the piper! If we did get liquidated I think the FL and FA would be in a very bad place ,allowing this all to happen
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dongonzalos
Well-Known Member
Just joining in now. I confess not read the other posts yet.
For us to be liquidated are we not first offered up to be purchased first before we can be liquidated?
For us to be liquidated are we not first offered up to be purchased first before we can be liquidated?
shmmeee
Well-Known Member
Why should we be liquidated and get to start debt free when there are lots of other clubs in more debt than us? Isn't that cheating?
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I think it is and hence a (hefty) punishment, but that punishment shouldn't be extinction.
Clubs shouldn't be able to run up such debts in the long run, but to be honest I think the last 20 years have fucked so many clubs over there should be an amnesty.
stupot07
Well-Known Member
That's all well and good but it's not the football clubs money that would written off, yeah many of the creditors will never get their money back but whiles it's written down they technically haven't lost it. Should HMRC, banks, investment firms, pension pots and individuals just say "ok, keep the money" with a mass "liquidation amnesty". It's easy for us to say, it's not our money that would be lost. Can you imagine how much money that would be if all clubs did it on mass.
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Sky Blue Pete
Well-Known Member
What would be interesting would be if otium announced a deal to return to the Ricoh from the start of next season. Would that mean anyone would travel to Northampton in the interim? I think it would still be a no from me
shmmeee
Well-Known Member
That's all well and good but it's not the football clubs money that would written off, yeah many of the creditors will never get their money back but whiles it's written down they technically haven't lost it. Should HMRC, banks, investment firms, pension pots and individuals just say "ok, keep the money" with a mass "liquidation amnesty". It's easy for us to say, it's not our money that would be lost. Can you imagine how much money that would be if all clubs did it on mass.
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I'll admit I'm blurring the lines of fantasy with an amnesty. But to be honest Id rather we bail out football clubs than banks.
Look, the only people to lose out are Sisus investors in a liquidation. That's their lookout. Would you rather we just disappeared? Should whole community assets be destroyed because of a bad investment from a random Finn?
It's either now or every few years for the rest of our lives were having this conversation. There is no way back from the debt were in.
I'm not saying its fair to other clubs. But neither was Leicester going into admin. The FA fucked up chasing money, something needs to be done.
lewys33
Well-Known Member
1. No I am not on crack. I think There is a potential that they have made money out of us. You have the opinion that they haven't and that is fine. I'm not here to try and convince people to convert to my opinion, just trying to provoke thought about the possibility.
2. I have said "I think". Not "I know", I have never declared this as fact. Therefore it is all implied as an opinion. Nothing wrong with that.
italiahorse
Well-Known Member
We've played just 1/3 of a season away from Coventry, we haven't lost future generations of fans yet.
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Well my grandkids have gone. My Grandson has lost all interest and I notice a Man U shirt on his xmas list. My granddaughters now do solely horseriding.
Always enjoyed taking them on Saturdays when my son had them.
torchomatic
Well-Known Member
My son is the opposite, he seems to be more interested than ever before and wears his new top at every opportunity, even in bed sometimes!
italiahorse
Well-Known Member
But is he attending ? Lots of kids are struggling to go.
Some parents would take there kids up to the Ricoh if the kids wanted to go even if the parent was not that bothered.
Now its a big ask to do the same.
With so much on telly and teams like Man U in your face everyday they will get their football fix from TV. UP the villa
Still recoverable but definitely not after 3 years. If its 10 miles out the walk up is again difficult.
torchomatic
Well-Known Member
No, he's not attending. Only that one game when we used our free ticket voucher. He loves watching all football. Records MOTD, FLS, MOTD2, Goals Express, etc etc but is still a Sky Blue. No danger of him becoming a Red Devil.
But is he attending ? Lots of kids are struggling to go.
Some parents would take there kids up to the Ricoh if the kids wanted to go even if the parent was not that bothered.
Now its a big ask to do the same.
With so much on telly and teams like Man U in your face everyday they will get their football fix from TV. UP the villa
Still recoverable but definitely not after 3 years. If its 10 miles out the walk up is again difficult.