Coventry City being Liquidated?? (Merged Thread)

[SULLY COULDNT SHOOT]

With R and D also gone only Northampton and MKD left in that part of the world.

 

[Hillian1]

See, I always thought liquidation meant going out of business, but it looks like in this case it means a 15 point deduction and playing in Northampton

They were in administration then, liquidation is final.

 

[beorhthelm]

i dont understand. wasnt there talk earlier in the week of the Rioch owners - the local council? - offering to let them use the stadium after all? didnt they offer to buy the club a few months ago? who is cocking this up?

 

[Icy Gull]

I wouldn't be too disheartened if I were them. They've been on a steady decline for years and have a rubbish stadium. Reforming and starting low might be quite fun.

Certainly an opportunity to cut ties with fools with no real interest in the club.

**** me is all I can say to that statement. Not too disheartened?

 

[Hotchilidog]

I would think with the league programme starting tomorrow the FL has no alternative but to make an expulsion.

That's what I would have thought. I am confused as to what the situation really is. Absolutely gutted for Cov fans.

 

[Paris]

If this is true the football league should act quickly and promote Northampton to League 1, Wrexham to League 2 and Whitehawk to the conference.

 

[Deleted member 22389]

Makes me so grateful to have Bloom in charge of the club. For all the moaning about increases and other things they are doing it to make sure this club stays afloat and is managed properly. That is a good thing.

 

[Shropshire Seagull]

I understand the club were in arrears with their lease [rental] payments for the Ricoh arena stadium and the landlord's patience ran out.
Could a similar thing happen at the Amex or does the football club own the stadium here?

 

[Hamilton]

I wouldn't be too disheartened if I were them. They've been on a steady decline for years and have a rubbish stadium. Reforming and starting low might be quite fun.

Certainly an opportunity to cut ties with fools with no real interest in the club.

I see what you're saying, but no. I'd be absolutely gutted if I were them and unable to see a way forward.

Absolutely terrible news and feel for them big time. A disaster for the football fraternity.

 

[seagullsovergrimsby]

Football League to hold an emergency meeting with a statement later today - minimum points deduction of 15 points but its possible that may actually go upto a deduction of 25 points.

Is a new company already in place to take over in a pre-pack admin deal ? The FL would be looking for a financial bond too to guarantee the fixture list is fulfilled. If Coventry remain in the league the 25 points deduction could actually be 30.

 

[churley1]

I know plenty on here found it quietly convenient how CPFC were reunited with Selhurst Park (in terms of ownership) and duly taken over soon after but this situation goes to show how essential having the football club own the stadium and not rented from a third party.

Leeds have seen the light, renting something at high costs which would essentiall be a white elephant is total nonsense.

 

[HawkTheSeagull]

If this is true the football league should act quickly and promote Northampton to League 1, Wrexham to League 2 and Whitehawk to the conference.

Would be nice, but its too soon to do this! It would simply be Coventry being removed from the Football League and changes to the amount of clubs which would be relegated/promoted for other leagues in the football pyramid.

 

[strings]

I understand the club were in arrears with their lease [rental] payments for the Ricoh arena stadium and the landlord's patience ran out.
Could a similar thing happen at the Amex or does the football club own the stadium here?

It is a very different situation. The Amex is owned by a separate company to the football club. This is to protect one, should the other ever go bust. However they are both owned by the same people, I understand. Others on here will know better.

It seems to me that the unmentioned sinner here is the Council, who (I am told) effectively forced Coventry City out of Highfield Road, which was a perfectly good stadium for the club's needs. Yes, the stadium owner has done the final deed, but I think Coventry Council should hang their heads in shame too.

 

[Driver8]

Coventry City being Liquidated??

Is a new company already in place to take over in a pre-pack admin deal ? The FL would be looking for a financial bond too to guarantee the fixture list is fulfilled. If Coventry remain in the league the 25 points deduction could actually be 30.

If it's liquidation the assets of the current co (i.e. the players) will be sold off so nothing left to take over.

 

[Simster]

It is a very different situation. The Amex is owned by a separate company to the football club. This is to protect one, should the other ever go bust. However they are both owned by the same people, I understand. Others on here will know better.

It seems to me that the unmentioned sinner here is the Council, who (I am told) effectively forced Coventry City out of Highfield Road, which was a perfectly good stadium for the club's needs. Yes, the stadium owner has done the final deed, but I think Coventry Council should hang their heads in shame too.

Unmentioned sinners you say. What about the FA - a truly ****witted organisation incapable of running the game for the benefit of the greater good. How did SISU Hedge Fund ever pass any sort of fit and proper ownership test?

It's time for the government of the day to step in over the FA's incompetence, disband them and their crappy old boys club.

 

[Hillian1]

I know plenty on here found it quietly convenient how CPFC were reunited with Selhurst Park (in terms of ownership) and duly taken over soon after but this situation goes to show how essential having the football club own the stadium and not rented from a third party.

Leeds have seen the light, renting something at high costs which would essentiall be a white elephant is total nonsense.

CPFC Ltd do not own Selhurst, BHA FC do not own The Amex.

 

[strings]

Unmentioned sinners you say. What about the FA - a truly ****witted organisation incapable of running the game for the benefit of the greater good. How did SISU Hedge Fund ever pass any sort of fit and proper ownership test?

It's time for the government of the day to step in over the FA's incompetence, disband them and their crappy old boys club.

Its funny how some things never change, isn't it. I agree totally.

 

[hans kraay fan club]

It seems to me that the unmentioned sinner here is the Council, who (I am told) effectively forced Coventry City out of Highfield Road, which was a perfectly good stadium for the club's needs. Yes, the stadium owner has done the final deed, but I think Coventry Council should hang their heads in shame too.

The Council IS the stadium owner! (Or at least 50% of it)

 

[Postman Pat]

What have the stadium owners achieved by blocking the CVA? All they have done is end up with a football stadium with no football team, and a local population that will likely refuse to ever step in the place again.

I saw they were trying to get the decision to let them play in Northampton overturned as they believe it breached the Football League's own rules. They seem to have cut their own noses off.

 

[strings]

I thought liquidation was the end of the company. All assets sold off to pay creditors and the company wound up.

Am I right?

If not, why are most news agencies still talking about point deductions? As far as I understand things, there is no club to deduct points from.