Coventry City Liquidated

I know this is not strictly Saints related but I feel it's notable enough to warrant it's own thread.

http://www.coventrytelegraph.net/news/coventry-news/live-coventry-city-fc-creditors-5430930

Reading the live blog notes on the creditors meeting it certainly seems that Coventry City will be liquidated. Remember that these guys were the club that SISU bought after nearly taking us. We came so ****ing close to this being our future.

 

Confirmed on BBC now.

 

Terrible news for Coventry fans. There, but for the grace of God.....and Nicola and Markus.

 

Sad news. We were so lucky!

 

RIP Markus and thank you again.

Thoughts with Coventry fans if this has actually happened.

 

This was always very dodgy...arguments with Arena owners, not compromising when they made decent offers, talking about moving the club to ground share (that club had a lucky escape as I doubt they would have got paid). This was all just to buy time...very dodgy indeed. The FL must be thrilled with fixture lists all sorted to allow for groundshare.

 

There may be a ways to go on this one. BBC just altered their story to "Coventry City FC Ltd. go into liquidation", not sure if this makes a difference to the future of the club, this is usually where it all gets weird and confusing.

 

One thing we must be grateful to Lowe for is that he thought SISU wouldn't be right for Saints. I believe he thought their finances were built on sand.

 

I just read a tweet from the BBC say they'll start the season tomorrow against Crawley, but can expect to be deducted at least 15 points.

Sad news, we really were lucky with Markus and Lowe/Wilde saying no to SISU.

 

So not so much liquidated as lightly emulsified?

 

I'm not sure whether they'll start next season. I'll find out.

 

I'm slightly confused as to who are the 'goodies' and who are the 'baddies' in this whole scenario. Clearly SISU haven't been running the club in a sustainable way, but from what I understand ACL have told SISU that it is compulsary that the club plays at the Arena, whilst charging what the hell they like. If I was in that situation, forgive me for saying that I would look elsewhere for somewhere to play matches.

 

I can tell you that the fans are the goodies in this...sadly, they had no control over anything.

 

They are now a lightly flavoured foam, as a dressing on the Michelin starred plate of the Football LEague.

 

Thank **** for Markus Liebherr.

 

Ah, I've got it. The company that owns the golden share in Cov is being liquidated, but the company that owns the assets of the club (players, etc) remains intact for now.

 

And in the way these things happen, it doesn't really help that the owners of the Ricoh Arena recently suddenly decided to allow CC to play there on a fraction of the rent they were charged last season. £100K as opposed to £1M. All too late.

 

How much in debt are they? The rent may have not helped, but I bet their debt is more than a million.

 

I'd heard that a very good offer was made a few weeks ago to stay at the Arena.

 

Are we talking about the same thing or a different offer..?