Tag: Coventry City

Coventry City’s Summer Of FUD

Things don’t get any easier for League One club Coventry City, whose owners continue to make pronouncements on its behalf even though the administrator is supposed to be in charge of the stricken club.

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Anticipated Outcomes For Coventry City

So it turns out that the most obvious explanation is exactly that for obvious reasons, in this case. The Football League, an organisation which has become highly attuned to people trying to game the system over the last ten years or so, passed its verdict on Coventry City today and that verdict was as expected: a ten point deduction with immediate effect which effectively ends the club’s already faltering chances of making the League One play-offs at the end of this season. Considering that, whilst the team’s improvement on the pitch has been dramatic considering the dismal start to the season that it endured, it still hadn’t managed to worm its way into the top six in the division yet this season and the fact that the punishment might have been considerably worse had those looking at it taken a less charitable viewpoint on what has been happening at the club over the last few months, the club’s owners, SISU, may well, despite their statement this afternoon expressing their ‘disappointment’ at the League’s verdict, have cause for believing that they have got off somewhat lightly today. This, however, doesn’t mean that they are completely out of the woods yet. If there is one thing that has happened as a result of the considerable coverage that this story has received during a relative lull in the football calendar, it has...

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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...

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Utter Confusion Reigns At Coventry City

It has been a busy week for Coventry City Football Club. On the pitch the team itself remains just three points from the play-off places as the season ends its closing stages, but few eyes are concentrated on events on the pitch at present, as the breakdown in the relations between ACL, the company which manages The Ricoh Arena, and SISU, the hedge fund which owns the club, now threatens to spiral out of all control to the extent at which it ceases to become an overstatement to suggest that the very future of this football club is now at stake. The club moved into the Ricoh Arena in 2005 under a lease which had been agreed between ACL – a company which runs the stadium on behalf of its owners, Coventry City Council, and the Alan Higgs Trust – and the club’s then-owners, but since relegation to Football League One at the end of last season SISU have been arguing that their rent is too high for the division on which they play and, apparently, withholding it as some sort of “negotiating tactic” with ACL. Relations between the two companies have deteriorated significantly over the last three months or so. It had been understood that a deal had been brokered between the two companies that would lead to the club paying a significantly lower rent – as with...

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