stevelcfc Posted 5 December 2012 Posted 5 December 2012 Arena Coventry Limited have given Coventry City twenty one days to pay the £1.1m they owe or face being closed down. City and their owners SISU have until Boxing Day to pay but if they don't they will face a possible winding up order or the prospect of having to declare themselves insolvent which could see a ten point penalty levied at the club. The Coventry Telegraph is running a statement issued by ACL which reads: "Following the refusal of Coventry City Football Club and its owners, Sisu, to pay outstanding rent to Arena Coventry Limited (ACL), the ACL Board has today issued a statutory demand to Coventry City Football Club (CCFC). "The statutory demand covers the £1.1 million owed by CCFC to ACL in rent arrears of a total £1.6 million owed by the club. This is not a course of action the ACL Board wanted to take. However, the behaviour of Sisu, the owners of CCFC has left the Board with no choice but to issue the statutory demand. "The Board feels that all other avenues to resolve this issue have been exhausted and is astonished that the club’s owners have allowed matters to come to this sorry pass. "Responsibility for this situation lies completely with Sisu, a Mayfair hedge fund which has let CCFC fail under its direction." Now let me think how I feel....
AKCJ Posted 5 December 2012 Posted 5 December 2012 It'll take them a lot longer than 21 days to make that through ticket sales, thats for sure.
jonthefox Posted 5 December 2012 Posted 5 December 2012 Just read this . Unfortunatley i can't see a way out for them this time.
isaidno Posted 5 December 2012 Posted 5 December 2012 Coventry should never have moved to the Ricoh. They never filled highfield road , so I don't know how they expected to fill a 32,000 seater stadium that's miles from the city centre.
Fez of Mahrez Posted 5 December 2012 Posted 5 December 2012 Raising £1.1million will be tough. They'll have to sell all their players. Not sure where they'll get the other £1million from though.
kingfox Posted 5 December 2012 Posted 5 December 2012 They can go and play on Braunstone Park, with burnt out cars in the distance and a bunch of chavs behind the goal shouting abuse.
Matt Posted 5 December 2012 Posted 5 December 2012 They're fooked. Shame, as I love to hate them (Not sure why, certainly not jealously - What is there to be jealous off, I think it's just the fact they are most local team to me, their fans [that they have] are twats and they gave us so much shit through adminstration and our relegation), wouldn't want to see them go, love to see them stuggling and do find it funny though.
jonthefox Posted 5 December 2012 Posted 5 December 2012 Latest from shitsville. http://www.skybluestalk.co.uk/threads/23279-Club-Response
Corky Posted 5 December 2012 Posted 5 December 2012 There will be a way around this, can't see them closing any time soon.
RonnieTodger Posted 5 December 2012 Posted 5 December 2012 As long as they don't go fold, whatever happens to them is comical.
davieG Posted 5 December 2012 Posted 5 December 2012 Makes you wonder how ACL are going to maintain the stadium as a going concern without the money that Cov are paying.owe, it's not like there's host of potential tenants waiting for Cov to leave.
yorkie1999 Posted 5 December 2012 Posted 5 December 2012 Raising £1.1million will be tough. They'll have to sell all their players. Not sure where they'll get the other £1million from though. Said to my mate at work whose a cov fan "if you won the lottery and had to help out cov city what would you spend it on" he said " i'd buy the ground and get a new load of players in " and i said " and what would you do if you got 4 numbers"
Corky Posted 5 December 2012 Posted 5 December 2012 Makes you wonder how ACL are going to maintain the stadium as a going concern without the money that Cov are paying.owe, it's not like there's host of potential tenants waiting for Cov to leave. The casino probably brings in a huge amount and they hold regular concerts too.
Matt Posted 5 December 2012 Posted 5 December 2012 Makes you wonder how ACL are going to maintain the stadium as a going concern without the money that Cov are paying.owe, it's not like there's host of potential tenants waiting for Cov to leave. As Corky said the Casino rent, They can hold regular concerts, I believe there is a hotel there so rent will be another source of income, there are a few exhibition halls, they would obviously lose the rent gained from CCFC (Although they havn't been gaining that for the past 10+ months so there is no loss really) and if they chucked CCFC out they could hold more concerts more regularly and gain rent off that.
Voll Blau Posted 5 December 2012 Posted 5 December 2012 Sad to see. Pretty worried we'll go the same way when the Thais get bored with us...
Matt Posted 5 December 2012 Posted 5 December 2012 Sad to see. Pretty worried we'll go the same way when the Thais get bored with us... For start we have a fanbase. Which is a huge plus point towards income and potential buyers. I'm not saying when the Thais go we won't be in the shit but it's highly unlikely we'll be in such a bad shape as CCFC.
acooling08 Posted 5 December 2012 Posted 5 December 2012 Do they not have any legends to help them in a similar way to what Gary and Emile did for us?
Guest MattP Posted 5 December 2012 Posted 5 December 2012 Do they not have any legends to help them in a similar way to what Gary and Emile did for us? Have some sympathy, it's bad enough they are going out of business without people like Steve Ogrizovic turning up to show their faces again.
Yojoe36 Posted 5 December 2012 Posted 5 December 2012 Have some sympathy, it's bad enough they are going out of business without people like Steve Ogrizovic turning up to show their faces again. Isn't he their coach?
Guest MattP Posted 5 December 2012 Posted 5 December 2012 Didn't know that, one way to keep the kids off the training ground I suppose.
Mark_w Posted 5 December 2012 Posted 5 December 2012 I don't see why anybody is taking any pleasure in this at all, you don't know that Leicester will never be in this predicament. Coventry laughed at us going down to League One, guess where they are now. Neil Warnock did as much as he could to change the rules regarding administration and look what happened to him at Palace. I hope Coventry get out of this because it's not fair on the fans and I certainly worry about the possibility of it happening to us.
Guest Bilo Posted 5 December 2012 Posted 5 December 2012 I don't see why anybody is taking any pleasure in this at all, you don't know that Leicester will never be in this predicament. Coventry laughed at us going down to League One, guess where they are now. Neil Warnock did as much as he could to change the rules regarding administration and look what happened to him at Palace. I hope Coventry get out of this because it's not fair on the fans and I certainly worry about the possibility of it happening to us. Agree with this. I have no animosity towards Coventry at all and feel for them in this predicament. Our period in administration was utterly horrible for any fan of the club and there are very few clubs I'd wish that on now.
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