Coventry City

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The owners of the stadium have appeared in Court this morning wanting Coventry to be put into administration because of overdue rent. Sounds like the football club had a subdivision paying the rent and hope this will protect the club. The subdivision has no assets and, therefore, the plan is that the club escapes from liability for the rent. Financial shenanigans at it's worst.

Ps. Have to add that our club also has subdivisions according to Company House, so mustn't get too righteous.
 
fran-MLs little camera said:
The owners of the stadium have appeared in Court this morning wanting Coventry to be put into administration because of overdue rent. Sounds like the football club had a subdivision paying the rent and hope this will protect the club. The subdivision has no assets and, therefore, the plan is that the club escapes from liability for the rent. Financial shenanigans at it's worst.

Ps. Have to add that our club also has subdivisions according to Company House, so mustn't get too righteous.
Click to expand...

Yeah this sounds like exactly the same trick we tried to pull.
 
pass the football said:
Yeah this sounds like exactly the same trick we tried to pull.
Click to expand...

Same trick, different intent. Saints genuinely couldn't pay the bills, but were trying to use the compartmentalization to avoid the points deduction; Coventry can pay the bills, but would rather not, and are willing to risk the points in the process. They surely remember the outcome of the former saga, so I can't imagine that they think the odds are too great that they'll get away without a deduction.
 
A chap representing the owners of the ground has said they are genuinely trying to save the club by pushing it into administration rather than liquidation and want the club to carry on playing at the Ricoh. But he now says they've been bowled a googlie by the latest decision.
 
BBC Midlands Today Sports Editor Nick Clitheroe: "Trying to get clarification from Coventry City on why the contents of the club shop are being loaded into a lorry at the Ricoh."
 
Staff and shop have been moved from the Ricoh...bit of gamesmanship? Biggest puzzle is where they are going to play their next fixture. A fans group have called on them to play their remaining games at the ground as they owe a responsibility to season ticket holders.
 
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