eddie Posted August 2, 2013 Share Posted August 2, 2013 Shouldn't have signed Marlon King and sung his name. Birmingham next There were a couple of people in my office quietly crying earlier today (I work at Jaguar in Coventry) because they assumed that it was the end of everything - and I must confess I thought so too. I'm not so sure that they will look inwardly and in their heart of hearts know that they brought it on themselves by chanting Marlon King's name, and that the liquidation was really down to karma. When we were trying to get rid of the Amigos, SISU were sniffing around Derby County. They would have had no interest in the club - they purely and simply wanted Pride Park. They eventually slimed into Coventry - and all the way through, their plan has been to try to acquire the Ricoh. If that meant bankrupting the company that owns and operates the Ricoh, well as far as those bloody SISU parasites are concerned, so much the better because then they would get it for about 10% of its value. There is no place in football for hedge funds - and every club that gets acquired by them lives to regret it because eventually they will be sucked dry until all that's left is a shrivelled husk. Link to comment Share on other sites More sharing options...
ladyram Posted August 2, 2013 Share Posted August 2, 2013 They've been docked 10 points accordung to Twitter, at least that's better than 15 or worse. Feel sorry for the fans who expected better from their club, gutting for them. Link to comment Share on other sites More sharing options...
LeedsCityRam Posted August 2, 2013 Share Posted August 2, 2013 Just to clarify - the club haven't gone into liquidation, they will still exist. Its the holding company that have been liquidated. Their "golden share" enabling them to play in the Football League has been transferred to the "company" now owning the club. This has to rank as one of the darkest episodes of the Football League. What is the point of a "fit & proper persons" test when parasites like SISU are allowed to destroy a club like this? Why are the Football League allowing them to play in Northampton for 3 years minimum when they have a perfectly good ground in Coventry to play in? Good luck Coventry City fans - with spineless "governance" like this, you're going to need it. Link to comment Share on other sites More sharing options...
davenportram Posted August 2, 2013 Share Posted August 2, 2013 Just to clarify - the club haven't gone into liquidation, they will still exist. Its the holding company that have been liquidated. Their "golden share" enabling them to play in the Football League has been transferred to the "company" now owning the club. This has to rank as one of the darkest episodes of the Football League. What is the point of a "fit & proper persons" test when parasites like SISU are allowed to destroy a club like this? Why are the Football League allowing them to play in Northampton for 3 years minimum when they have a perfectly good ground in Coventry to play in? Good luck Coventry City fans - with spineless "governance" like this, you're going to need it. I think what the football league have done will get the club back to Coventry sooner rather than later. The owners of the ground will soon realise that without the football club the ground will generate virtually no income. So unless they charge a suitable rent and agree a deal on the outstanding amount they will probably go under themselves and the club could get the ground cheaply Link to comment Share on other sites More sharing options...
LeedsCityRam Posted August 2, 2013 Share Posted August 2, 2013 I think what the football league have done will get the club back to Coventry sooner rather than later. The owners of the ground will soon realise that without the football club the ground will generate virtually no income. So unless they charge a suitable rent and agree a deal on the outstanding amount they will probably go under themselves and the club could get the ground cheaply I'm not convinced that will happen. I read earlier that the football only generates 5% of the income from the Ricoh. The vast majority of turnover is made from the conference & banqueting suites there. Plus staging of concerts etc. Hence why SISU are planning to build a ground in Coventry whilst they are in exile. Although that would seem bizarre given their reluctance to part with any cash at all during their tenure to date. Link to comment Share on other sites More sharing options...
eddie Posted August 2, 2013 Share Posted August 2, 2013 I think what the football league have done will get the club back to Coventry sooner rather than later. The owners of the ground will soon realise that without the football club the ground will generate virtually no income. So unless they charge a suitable rent and agree a deal on the outstanding amount they will probably go under themselves and the club could get the ground cheaply Suitable rent? They offered to let them play rent-free for a year. SISU want to break the company that owns a 50% share in the Ricoh (the half which is owned by a bloody charity, for god's sake), then they hope that fan pressure will take care of the other half (which is owned by the council). Hey presto, free money. It won't happen - the council owe it to the ratepayers to make sure it doesn't. And for a start, SISU agreed to the rent - they weren't gazumped or anything - then Welshed on the deal. Link to comment Share on other sites More sharing options...
Cisse Posted August 2, 2013 Share Posted August 2, 2013 I bet Coventry fans are wondering where are the arab sheiks when you need one. Link to comment Share on other sites More sharing options...
davenportram Posted August 2, 2013 Share Posted August 2, 2013 I'm not convinced that will happen. I read earlier that the football only generates 5% of the income from the Ricoh. The vast majority of turnover is made from the conference & banqueting suites there. Plus staging of concerts etc. Hence why SISU are planning to build a ground in Coventry whilst they are in exile. Although that would seem bizarre given their reluctance to part with any cash at all during their tenure to date. Suitable rent? They offered to let them play rent-free for a year. SISU want to break the company that owns a 50% share in the Ricoh (the half which is owned by a bloody charity, for god's sake), then they hope that fan pressure will take care of the other half (which is owned by the council). Hey presto, free money. It won't happen - the council owe it to the ratepayers to make sure it doesn't. And for a start, SISU agreed to the rent - they weren't gazumped or anything - then Welshed on the deal. I didn't know either of those facts - maybe the owners of the ground are glad to get rid then. Link to comment Share on other sites More sharing options...
uttoxram75 Posted August 2, 2013 Share Posted August 2, 2013 Eddie is on the money (so to speak) here. SISU is nothing but a hedge fund.The only goal they are interested in is making money by ripping off other people. It really is that simple. They gamble investors money to make a quick buck. They really believed that the council would be bullied into giving them the Ricoh Arena for nowt. They still believe it now, its what they've based the whole shebang on. The fact that Coventry City Council and the vast majority of Coventry City fans have seen through this is a massive credit to the people of Coventry. Link to comment Share on other sites More sharing options...
StockholmRam Posted August 4, 2013 Share Posted August 4, 2013 Coventry City..perhaps the least interesting football club in the world for me! Says nothing to me... Link to comment Share on other sites More sharing options...
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