Coventry sort of going into administration

[Triggaaar]

So recently they've been earning NOTHING?

I'm losing my mind. I thought I read that 12,000 figure elsewhere, but I think I just read it from ali

CCFC need to attract 12000 every home game to afford the rent, everything else above and beyond that is theirs.

I've read something similar before, but I don't know if it was the same figure.

 

[Mullet of Ken Tiler]

Seems as though the Ricoh arena owners should do a deal to cut the rent so that CCFC can stay there. Otherwise they will end up with nothing.

The arena owners (which is a 50:50 thing between the local council and a charitable trust) have tried pretty hard to renegotiate with Sisu (the hedge fund that own the club) ... including a significant cut in the actual amount and the opportunity to have a cut of matchday revenue which was previously denied them ... but Sisu haven't been willing to play ball as far as I can tell through the legal/accounting complexities

 

[seagully]

Yes, they basically earn nothing as all rent goes to ACL. Unpaid rent has no doubt been used to pay staff/players et al. Allegedly, they owe £1.5m.

The problem when you don't own your own ground.

A big problem in my opinion is that they have a very strong hardcore support of 6000-7000 fans but a very high number of 'floating fans' who won't go and watch the club while they are in League One. Some of my Cov supporting friends have become so disillusioned that they don't bother going despite having a season ticket. If run correctly, the potential of the club is huge, it's sad to see them in the current situation.

 

[Berty23]

The Ricoh was a ball ache to get to as well. Although recently had permission for a station at ground. Useful now.

 

[Couldn't Be Hyypia]

Seems like they're just strengthening their bargaining position.

As army ali says, the Richo will just be mothballed if CCFC move away so they are realistically the owners only source of rent. If they won't lower the rent to reflect the current income then CCFC just say "alright lads, we'll just f**k off until you do".

:

So you're in favour of yet another football club reneging on an agreement and shafting a creditor? How is that different from Pompey sticking two fingers up to the St. John's ambulance?

 

[seagully]

The Ricoh was a ball ache to get to as well. Although recently had permission for a station at ground. Useful now.

IMO they should have secured the station before moving to the Ricoh as you're right, it's a pain to get to from the city centre.

 

[Uncle Buck]

In fariness to Coventry, they should look to what Rotherham did.

If the current deal is unsustainable and they can raise the capital to build a stadium, then do it. Rotherham is odd, in that they have their shiny new ground, but Milmoor is still there as well.

 

[army ali]

So you're in favour of yet another football club reneging on an agreement and shafting a creditor? How is that different from Pompey sticking two fingers up to the St. John's ambulance?

A bit different from the Pompey saga where the majority of their debt was caused by overspending on players and contracts. This was of their own volition and demise.

CCFC were pretty much forced out of Highfield Road (a great are for renovation and re-development of the City centre) and went into the agreement with the council, but since then, the deal, owners, contracts have changed.

 

[Couldn't Be Hyypia]

A bit different from the Pompey saga where the majority of their debt was caused by overspending on players and contracts. This was of their own volition and demise.

CCFC were pretty much forced out of Highfield Road (a great are for renovation and re-development of the City centre) and went into the agreement with the council, but since then, the deal, owners, contracts have changed.

Thanks for the clarification.

 

[portslade seagull]

What a waste of a ground if they cannot come to a compramise

 

[army ali]

Thanks for the clarification.

Appears to be quoted in a sarcastic tone? Unless I am mistaken as meaning is often blurred in e correspondnace!

 

[Couldn't Be Hyypia]

Appears to be quoted in a sarcastic tone? Unless I am mistaken as meaning is often blurred in e correspondnace!

Nope. Genuinely useful response. Ta.

 

[army ali]

Nope. Genuinely useful response. Ta.

Thanks. I often see binfests begin on here over miscommunications.

 

[Pavilionaire]

This is such a shame. Cov were a big club, I hope they can resolve the ground rent issue.

 

[Billy the Fish]

So you're in favour of yet another football club reneging on an agreement and shafting a creditor? How is that different from Pompey sticking two fingers up to the St. John's ambulance?

I'm not in favour of it, but IMHO the morality of shafting a bank or corporate entity that gambled on loaning multiple millions to another company in the hope of a higher return in the form of interest, is very different from shafting a company that is getting paid for providing a service.

Obviously I don't know all the facts and it is far from black and white, as discussions on morality usually are, but that is just the way I see it. The alternative is that they all just give up and then everyone loses their money.

 

[strings]

Coventry also gave us a shirt that, at the time, I thought was amazing. Looked at through more grown-up eyes, it looks terrible:

 

[Common as Mook]

When we went to Highfield Road for the last time a number of supporters were predicting it would all end in tears.

Steve Staunton with a last minute cracker in the baking sunshine if I remember rightly?

 

[Triggaaar]

Thanks for the clarification.

Appears to be quoted in a sarcastic tone

You got that right

Nope. Really useful. As useful as a chocolate tea cup.

**** off you ******* ****

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

 

[Berty23]

IMO they should have secured the station before moving to the Ricoh as you're right, it's a pain to get to from the city centre.

The kind of did I think but ran out of cash. Yet ended up paying more renting highfield road than sold it for due to the Ricoh site being contaminated land and taking a long time.

 

[Ninja Elephant]

I wonder what Richard Keys thinks of the whole situation?