Coventry City Prepare For League Judgement

It has been a day of drama which in many respects revealed very little for Coventry City. The club’s recent tit-for-tat spat between its hedge fund owners SISU and ACL, who run the stadium that the club had been using for the previous year (but not paying rent to use for more than a year, now) had been threatening to blow up for some considerable time now, with patience on the part of ACL having been worn threadbare by what consistently looked like hard-headed negotiation by the club’s owners. Over the last couple of weeks or so, however, things have got very complicated – complicated to such an extent that we perhaps need to strip this story down to its bare minimum in order to make a great deal of sense out of it. Every Football League club has a “golden share,” which could be described as its right to play in the Football League in the first place, and golden shares have come a valuable commodity in recent years, with the number of limited companies that have sprung up with the intention becoming the legal entities that would seek to take control of clubs. In the case of Coventry City Football Club, there are two limited companies with very similar names involved – Coventry City Football Club Ltd (CCFCL) and Coventry City Football Club (Holdings) Ltd (CCFCHL). If...

Read More