Peter Grummit
Well-known member
Has been tipped.
Who has built a new ground and gone bust shortly after?
Cov
Leicester
Anyone else?
PG
Who has built a new ground and gone bust shortly after?
Cov
Leicester
Anyone else?
PG
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Coventry in administration
- Thread starter Peter Grummit
- Start date
Tricky Dicky
New member
I believe the Cov board have now announced that they plan to take the club into administration
It seems to be clubs building facilities before they've built a football team to bring in the fans, or badly misjudging how many people will actually pay to go and watch. Hopefully I'm not the only one planning on getting a season ticket at Falmer...
crodonilson
He/Him
Didn't Derby go into administration a few years back before you got docked points??
jonny.rainbow
Well-known member
- Oct 29, 2005
- 6,847
If that is the case, I hope they get relegated.
coventrygull
the right one
Don't think so. They have been talking about a take over for the last couple of years and nothing has come of it. Coventry City did not build the ground the council did. So the club don't own it
Tubby Mondays
Well-known member
According to the BBC, yes:
Coventry's board has announced its intention to take the cash-strapped club into administration.
But the Sky Blues remain hopeful that a takeover by football entrepreneur Ray Ranson and Sisu Capital will be completed before then
"This legal notice gives Coventry a 10-day window to complete the takeover talks," said the board's statement.
If the talks fail and the club do go into administration, they will be deducted 10 points.
Coventry lie 14th in the table, with estimated debts of £38m, and their perilous financial state led to a transfer embargo being imposed.
Manager Iain Dowie has warned that he would consider his position if the club went into administration.
But Monday's statement said: "This is merely a legal process protecting the bank and its creditors.
"It should speed up the takeover of the club and therefore take Coventry into a solvent financial situation.
"Following recent speculation, the club can confirm can that staff and player wages have now been paid and we look forward to a successful conclusion of the takeover in the near future."
eh, good luck to 'em.
like a rat from a sinking ship.
Uncle Buck
Ghost Writer
- Jul 7, 2003
- 28,075
He would scare the rats.
East Staffs Gull
Well-known member
They don't own the ground and are having to pay a small fortune on hiring it, operators' costs, caterers, etc. They've also got a transfer embargo, so they can't sign players to improve the team, to get more fans in, etc. They're in somewhat of a downward spiral. However, I still think that it's wrong that administration will wipe the slate clean for the new owners.
I entirely agree... and think that the penalty for going into administration should be suspension in the current season, and a double relegation (i.e. drop two leagues). It stinks that new owners can buy clubs with high league status by writing off massive debt acquired in obtaining that league position.
Scotty Mac
New member
- Jul 13, 2003
- 24,405
begs the question why did they ever leave highfield road. i quite liked that place
Guy Fawkes
The voice of treason
- Sep 29, 2007
- 8,299
I may be wrong but didn't Middlesboro and Millwall go into administration after new grounds as well?
Franks Wild Years
New member
I agree, you cant beat a ground surrounded by red brick terraced houses. Proper Lowry style old skool atmosphere.
readingstockport
New member
Cardiff look to be on the same route as well. Why are cnuts like hamman still allowed in the game? http://www.telegraph.co.uk/sport/main.jhtml?view=DETAILS&grid=&xml=/sport/2007/12/03/sfncar103.xml
BensGrandad
New member
I believe that the FL have set a precedent with Leeds and that had they relegated them to the lowest division of the FL ie. Div 2 other clubs would have thought about it seriously.
The worse possible scenario is that at least the clubs in Div 2 then Div 1 would benefit by the attendances of the away support of these clubs as they climb through the divisions again.
The worse possible scenario is that at least the clubs in Div 2 then Div 1 would benefit by the attendances of the away support of these clubs as they climb through the divisions again.