Coventry sort of going into administration

[Perfidious Albion]

A cautionary tale for fans of West Ham United. It is announced today that they will pay rent of £2 million pa for use of Olympic Park . Coventry did their sums based on their then league status and income and now have a rent bill of £1.2 million pa, which they cannot maintain.

If it all went pear shaped at West Ham.....What then?

 

[amexee]

I believe crawley rent their ground from the council

 

[Munkfish]

You got that right


Jesus. You're not gonna sit there and take that are you THRK?

 

[Triggaaar]

A cautionary tale for fans of West Ham United. It is announced today that they will pay rent of £2 million pa for use of Olympic Park . Coventry did their sums based on their then league status and income and now have a rent bill of £1.2 million pa, which they cannot maintain.

Is it really only £1.2m for Coventry? So if it was 12,000 fans a game, that'd only be £100 a year each. That doesn't seem right.

As for West Ham, £2m is a pittance. How much do you think it would cost them in interest if they built a new stadium for themselves - including the cost of the land?

 

[army ali]

You got that right


Jesus. You're not gonna sit there and take that are you THRK?

Just so there's no miscommunication here, Trig, you're being pwoper nawty!!

 

[HovaGirl]

And who owned / owns Withdean? Not the Albion.

Brighton and Hove City Council so I believe.

 

[army ali]

Brighton and Hove City Council so I believe.

Yes and it virtually crippled us, as like Coventry, we had to pay rent and this was based on attendances and more. Us not moving to Falmer a few years earlier neraly broke us and I suspect there was a big element of good will that helped us in the subsequent years. If Falmer didn't happen, we would have gone out of business, if not now but in the very near future as Withdean was not financially sustainable nor viable.

 

[Triggaaar]

How about I smash your face in Trig?

Alright, alright, it was just a joke. Sheesh.

I don't think there was any miscommunication really. x

 

[HastingsSeagull]

Nuneaton would make so much more sense it's like 5 mins down the road!

 

[SeagullinExile]

http://www.dailymail.co.uk/sport/football/article-2297369/Coventry-fans-fingers-crossed-avoid-10-point-deduction.html?ito=feeds-newsxml

After sloppy writing of Poyet this one too shows how bad it can be. The article refers Highfield Rd as a ramshackle. Hardly it was quite a modern ground.

I might of dreamt this, but wasn't Highfield Rd one of the first all seaters in the league?

Apologies if I'm wrong.

 

[PILTDOWN MAN]

I might of dreamt this, but wasn't Highfield Rd one of the first all seaters in the league?

Apologies if I'm wrong.

Indeed it was.

 

[Landgull]

Darlo didn't own their new ground, did they? Wasn't that a large part of their problem?

That's true and now they are at level 9 playing in the Northern league and playing at Bishop Auklands ground, who are also in the Northern League. They should get promoted and will pass the 100 points soon however whilst they wish to play again in Darlington
all has gone quiet about this.
In passing, whilst we own our stadium, the land it stands on is leased albeit for 125 years.

 

[Stat Brother]

How much debt is on show at Fratton Park today?

 

[seagullsovergrimsby]

Yes and it virtually crippled us, as like Coventry, we had to pay rent and this was based on attendances and more. Us not moving to Falmer a few years earlier neraly broke us and I suspect there was a big element of good will that helped us in the subsequent years. If Falmer didn't happen, we would have gone out of business, if not now but in the very near future as Withdean was not financially sustainable nor viable.

The LibDems on Lewes District Council had their fingers crossed that the club would run out of money so the problem they saw with Falmer would disappear.

 

[maltaseagull]

Really feel sorry for them.
I remember them as one of the earliest clubs that tried to look after their fans with subsidised trains (sky blue specials) which we copied.

Never seen them as arrogant. Just victims. Never mind, premiership clubs will receive £ millions forget the rest.

 

[Leekbrookgull]

Latest from BBC. http://www.bbc.co.uk/sport/0/football/21912436

 

[spring hall convert]

This is absolutely tragic for the supporters, what a mess.

It doesn't change my view that the penalty for entering administration is nowhere near severe enough.

 

[cloud]

Just virtually all of it. Shareholders in Brighton and Hove Albion Holdings Limited (the holding company that owns all of the other companies including BHAFC and the stadium)

Bloom holds 77%, more than 75% means you run the whole show. Dick is down to just 4% now.

Name Currency Share Count Share Type Nominal Value % of Total Share Count
MR ANTHONY GRANT BLOOM GBP 19,275,000 ORDINARY 1 77.22
MR WILLIAM JOHN BROWN GBP 1,100,000 ORDINARY 1 4.41
HARRY RICHARD KNIGHT GBP 1,002,500 ORDINARY 1 4.02
PIG CITY INC. LTD GBP 750,000 ORDINARY 1 3
MR KEVIN RALPH PATRICK GRIFFITHS GBP 582,000 ORDINARY 1 2.33
MR RAYMOND ALEXANDER BLOOM GBP 535,000 ORDINARY 1 2.14
FRIDAY-AD (HOLDINGS) LTD GBP 500,000 ORDINARY 1 2
MR DEREK LEONARD CHAPMAN GBP 460,750 ORDINARY 1 1.85
MR MICHAEL JOHN STANLEY HASTILOW GBP 250,000 ORDINARY 1 1
SIPPCHOICE TRUSTEES LTD GBP 200,000 ORDINARY 1 0.8
MR ROBERT LEONARD PINNOCK GBP 142,000 ORDINARY 1 0.57
MR J. GOLD GBP 75,000 ORDINARY 1 0.3
MR JOHN EDWARD VICKERS GBP 50,000 ORDINARY 1 0.2
MR JOSEPH DAVID HIRSCHEL GBP 15,000 ORDINARY 1 0.06
MR PETER FLEMING JACKSON MCDONNELL GBP 10,000 ORDINARY 1 0.04
MR EDWARD NORMAN DAVID GBP 10,000 ORDINARY 1 0.04
MR JOHN TOWN GBP 5,000 ORDINARY 1 0.02
MR MARTIN JOHN PERRY GBP 130 ORDINARY 1 0

Who is Pig City? Nothing to do with Kuszczak or Piglets, presumably

 

[Blue Valkyrie]

Who is Pig City? Nothing to do with Kuszczak or Piglets, presumably

Fat Boy Slim, I think.

 

[Acker79]

Can't see this elsewhere, so to update, the court ruled that the subsidiary that paid the rent that went into administration held the 'golden share' that held the league membership, so it meant coventry as a club were ruled to be in administration.

This afternoon the FA applied the 10 point deduction, taking tem from 10th place on 60 points, to 14th on 50 points (which means they are probably safe from relegation).