Coventry given 21 days to pay rent or face closure

[Ford Super Sunday]

It's just posturing.

As the Cov Telegraph article states the rent has been lowered to £400k and that's an offer that has been 'rejected'.

Coventry will still be at the Ricoh, still failing to get over 12,000 and constantly in the state of medeocrity they deserve for a long time to come.

I think it's inevitable that on the brink of the precipice a deal will be agreed.

That said, a move to Nene of the Greene King would be logistically 1,000,000% easier to get to than that awkward bowl they're at now. So here's hoping for a move.

[Guest Basildon Fox]

If they did move to the Green King. Would that officially make them the 5th biggest team in the County after Us, The Tigers, Hinckley and Coalville?

[goose2010]

apparently the move to Hinckley will happen, Hinckley are in the Shite big style and cant afford to say no to Coventry's demands. There will be a 4000 temporary stand erected making the capacity around 8000.

Cov fans are not happy about playing in 'leicestershire' i don't think my mates were impressed when i pointed out that they will be the 5th biggest team in the county either

[Wakeyfox]

Laughed so much a bit of wee came out....

At least they would have a chance of 3/4 filling it.

[NewburyFox]

I don't want Coventry playing in Leicestershire :xmasdry:

[Ashley]

This would be GREAT for Hinckley United and my Cousin. Hinckley at the minute basically have no money what so ever and are struggling. Ground sharing with Hinckley would give them the much needed funds they need to survive!

[Corky]

I don't want Coventry playing in Leicestershire :xmasdry:

They haven't won in the county since 2001.

[jonthefox]

What would happen in terms of season ticket holders and who gets the priority, I know their support is shit but surely they have more than 4k season ticket holders.

Don't forget the 15% for away fans.

[Pride_Of_The_Midlands]

They should play at St Andrew's.

1. It's the closest ground to the Ricoh

2. Blues need help filling the stadium

3. They could have a joint rendition of Shit On The Villa

[Father Ted]

[Craig]

[Guest Bilo]

If they can bring Hinckley's ground up to the required standard, it might be OK till the end of the season. Attendances are only 10,000 or so now while they're only two or three miles away from Coventry, so they'll take a big hit 15 miles away from the place. It sounds as though they're being absolutely bent over in terms of the rent, I'd love to meet the genius who signed that deal!

Bloody hell.

If she still goes they'll definitely have to expand Hinckley's place.

[Jace]

They haven't won in the county since 2001.

Their record in Coventry isn't much better

[Jaspa]

They haven't won in the county since 2001.

I'm sure they hadda friendly there this summer and won by 6+ to nil

[Mack]

From what I have read this all seems like a game of brinkmanship from both the scum and the landlords.

Scum owners are wanting to re negotiate the terms of the rent, once that's done they'll pay up enough to remain at the stadium.

And this makes sense for the landlords also, who else would occupy the stadium without them?

[Matt]

From what I have read this all seems like a game of brinkmanship from both the scum and the landlords.

Scum owners are wanting to re negotiate the terms of the rent, once that's done they'll pay up enough to remain at the stadium.

And this makes sense for the landlords also, who else would occupy the stadium without them?

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.

It could be quite easy to make into a rival competitor of the NEC in Birmingham

[Corky]

Not affecting them today.

[The People's Hero]

When's Lady Godiva going to ride in with a fanny full of tenners?

Does the elephant really mean Coventry is lepersville?

Can Steve Ogrizovic/Roy Wegerle dreamteam not sort this out? If not, what have they spent their money on?

Is Dave Busst's horrific injury to all be in vain?

John Salako would be turning in his grave, if he were dead, which he isn't but Peter Ndlovu might be, but that would be distasteful. He's certainly not in his grave yet in any case.

[Matt]

THE COMPANY which runs the Ricoh Arena is considering its options after talks between themselves and the Sky Blues collapsed on Thursday.

Stadium company ACL, which is jointly owned by Coventry City Council and the Alan Higgs Charity, issued a statement claiming talks with club owners Sisu over the on-going rent issue have collapsed.

ACL claim the cash-strapped League One club owe £1.347million in arrears after refusing to pay the cost of playing at the stadium since February last year.

They say an agreement was reached for the club to pay £400,000 per annum in rent while the Sky Blues remain in League One.

The deal would also see ACL waive more than £300,000 of the rent arrears, with a generous approach to clearing the total balance and the club were guaranteed to continue receiving matchday revenues.

But instead of confirming, Sky Blues chief executive Tim Fisher asked for the arrears to be cleared.

And he also wants the statutory demand for the payment of rent, which was issued in December 2012, to be dropped, or else the club will look to build a new venue elsewhere.

“There’s simply no point in continuing these discussions while the Club, under Sisu’s ownership, continues to behave in this manner,†said Nicholas Carter, chairman of , ACL.

“To spend many hours engaging in positive and constructive discussions, leading to a detailed point by point discussion of a proposed Heads of

Terms Agreement resulting in verbal agreement and handshakes all round; only to then renege when it came to signing the Agreement, is truly reprehensible behaviour.

“We will only be prepared to resume these conversations if John Clarke, Tim Fisher and Mark Labovitch sign up to the deal to which they agreed.“

The Board of ACL believes that Sisu, have no intention of entering into a meaningful dialogue to resolve this issue.

“If the Club Directors can’t or won’t follow through on the Agreement they participated in creating, then we suggest to them that the time has come to consider offering ownership of CCFC to an outside buyer better placed to run the Club’s financial operations.

“Make no mistake, now is the time for Sisu to pay up or sell up and get out of Coventry.â€

The Sky Blues have yet to comment on the collapse of talks but are still expected to be hosting Crewe at the Ricoh on February 23.

[demon_dog]

Quote from Coventry Telegraph.

UPDATED: Ricoh Arena owners seize Coventry City's income.

*Debt order freezes Sky Blues bank account

* ACL will go back to the court in May for final order

* ACL claims final offer would reduce current the current £1.2million annual rent package to just £150,000

RICOH Arena bosses today dramatically upped the stakes in their dispute with Coventry City by serving debt orders which could see the stadium recouping rent arrears by May.

The legal move would lawfully entitle Arena Coventry Limited to recover the £1.3million rent by collecting any monies owed to the club by other companies and third parties.

The third parties named in the interim “Third Party Debt Orders†served on the club today include Huddersfield Town.

They are expected to pay the Sky Blues compensation for this week enticing team manager Mark Robins away from Coventry City five months into a three-year contract.

ACL - the company owned by Coventry City Council and the Alan Edward Higgs Trust - would now potentially have first call on that money.

ACL could also have first call on rate rebates from Coventry City Council to Coventry City Football Club.

Jacky Isaac, ACL interim chief executive, said the interim order prevents any money being paid from the named third parties to Coventry City ahead of a final debt order issued by a court judge.

The earliest opportunity for a final order enabling ACL to obtain the money is May 2.

Ms Isaac said today's interim order also gives the banks seven days to reveal how much money is in Coventry City’s bank account.

Today's developments follow the collapse of talks to try to resolve the increasingly bitter dispute over rent payments for playing at the Ricoh, as we revealed yesterday.

ACL claimed Sky Blues directors had reneged on an agreement two weeks ago over an improved ACL offer.

ACL said it comprised cutting annual rent payments by two-thirds to £400,000; waiving £300,000 of the rent arrears; a long-term deal over repayments; and giving more stadium matchday revenue such as from food and drink sales to the football club.

ACL claimed the package would effectively reduce the current £1.2million annual rent package to just £150,000 paid by the club in total matchday costs while the club remains in Division One.

Coventry City has refused to pay rent since last April because it says it is too high. It now owes £1.347million in arrears.

An ACL statement exclusively revealed on the Telegraph website earlier today stated: “The board of Arena Coventry Limited (ACL) has today served interim Third Party Debt Orders on Coventry City Football Club following the collapse of talks around future rent and matchday arrangements.

“The orders have been served in respect of the club’s bank account, its card payment acceptance service account, its Business Rates Account with Coventry City Council and Huddersfield Town Football Club.

“These orders, which are expected to be made final orders shortly, will then entitle ACL to lawfully collect any monies owed to the club by these third parties.â€

Nicholas Carter, ACL chairman, said: “We don’t want to have to resort to such means as obtaining interim Third Party Debt Orders.

“But if the club won’t agree to the very generous deal on the table and pay what it lawfully owes, we have a duty to our stakeholders to take all the necessary steps to protect ACL’s interests.

“It’s our responsibility as directors to do all we can to make sure ACL gets paid."

[whoareyaaa]

Been ordered to be put into administration.

[Matt]

TBF they have took the piss with the landlords of the Ricoh.

I understand the landlords even agreed to lower the rent, but even then CCFC didn't pay up.

People argue the owner of the Ricoh won't get as much use if they lose the football, if they aren't getting any money from CCFC then they are losing out anyway aren't they?

Someone is losing out here, whether the owners of Ricoh uphold and maintain the Ricoh or whether those duties are to be dealt with by the CCFC I don't know, but if it is the owners of the Ricoh then why is that fair when they aren't being paid a penny?

I'd also like to know how CCFC is still running, I can't see a penny being made by them, It's a mystery how most football clubs run and how owners of clubs afford the running, but CCFC is another level, someone is losing big, big money there, why they are still running the club I don't know.

[johnny the fox]

Coventry going belly up.. I can almost taste it ..

[Leicesterpool]

When on earth are Coventry going to go bust?

[Fox92]

When on earth are Coventry going to go bust?

Hopefully never.