Looks like they've called in the administrators. Maybe for the best really, especially as the deduction probably won't relegate them this season. Thoughts?
A Coventry fan once threw a brick at me outside Highfield Road. He missed. He then ran away. I laughed. There ends my Coventry thoughts.
Stalwarts of the old first division and the early years of the PL. I can see why CBK thinks as little of them as he does because they can be a bit of an anonymous club. I don't quite know why either. They've won things. There was the old Monty Python quiz sketch where four famous contestants [Lenin, Che Guevara, Mao Tse Tung and Karl Marx, no less] were given the challenge to name the year that Coventry City won the FA Cup. None of them could answer, which didn't surprise the quizmaster as it had been a trick question - Coventry City had never won the FA Cup..! But they since have, and so perhaps they're most famous claim to fame has disappeared. I think administration would be the best thing for them. They clearly can't go on as they are, and I've just shuddered at the thought that SISU approached Saints in order to take us over. Lowe, ex-[London]City business man that he was, turned them down flat. Hope they get themselves out of their difficulties, but the anonymity, I wrote of, might work against them.
Shame for any club to get in this state. Feel sorry for the fans, because they are the kind of unfashionable club that has had just a few moments in the sun (just like Saints really).
I don't like to hear any club going down the pan.......I have to admit though I wondered if SISU would last the course when they took over. They really didn't have the financial backing although they pretended they did.
Seems to be a bit more to this. Statement on the club's website: Coventry City Football Club Holdings can confirm that a non-operating subsidiary of the Club has today been placed into administration. A spokesman for the Club said: “It is important to stress that the Football Club itself is not under threat. “This is merely a property subsidiary which owns no material assets and has no employees, on or off the pitch. “The Club can confirm that all staff wages, PAYE and all other creditor commitments will continue to be met as before by Coventry City Football Club Holdings. “Unlike other instances of clubs being taken either wholly or partially into administration, there are no HMRC or VAT implications and the Football Club will continue to trade as normal without interruption. “Our main objective now is to remain competitive on the pitch and give Steven Pressley and the playing staff our full backing and commitment.” So a bit of the club is in administration?
I remember being a very annoyed Saint when they pipped us to promotion in 1965; we followed the following season. Our fortunes have followed a similar course - perennial strugglers with occasional highs. When the hedge fund boys wanted Saints but settled for Coventry I was baffled and a little disappointed. How far have our paths diverged in the last couple of years, leading to us putting 4 past them home and away last year as we went up and they went down. If anyone wonders about the Liebherr/Cortese takeover just look at what might have been.
Coventry city were the originators of the joke that if the Titanic had been painted sky-blue it wouldn't have gone down, such were their unlikely escapes from relegation to the second tier, every year. Then they went down under the management of one G Strachan Esq, and so when he was signed up by Lowe I was very unimpressed. Shows what I know about football management!
We came out of the ordeal reasonably well... they'll be fine if they end up with anyone who is even near half as good as this duo.... please log in to view this image
Sounds like they've off loaded debt into a subsidiary and are letting it sink...financial shenanigans.
I remember a great deal of concern amongst Saints fans when SISU came knocking. Even when we were at such a low point, it felt like we had dodged a bullet. Today has been in the post for a long time. I wish them luck, its going to get nasty.
I am amazed they have lasted this long, the writing has been on the wall for years. Sadly it has all come to a head but hopefully they will come out the other side rejuvenated.
Always had a soft spot for Coventry. In the 90s it was always Saints and Cov favourites for relegation, and yet it always seemed to be four other teams that went down "What in God's holy name are you blathering about?!"
We came out of the ordeal reasonably well... ______________________________ We sure did, we sure did.
The plot thickens... Looks like Coventry will be playing their remaining home fixtures at Villa Park...
Everytime we knock Lowe we are reminded that actually he did get some things right. Of course there may well have been selfish reasons for his decision but whatever, thank goodness he didn't sell up. There were a lot of people thought he should at the time as I recall.
Tactical administration, from the looks. SISU has been trying to lower their rental costs on Ricoh to a fraction of what they're paying now, the owners of the arena have refused to budge. So they'll throw it into administration, keep paying the rest of the bills (but not the owed rent, which they haven't been paying in full for some time), and see whether they can use the leverage to screw over the ownership, who still have significant costs associated with the building of the facility, and thus secure a more favourable rental agreement. The ownership being, in this case, the local council and a charity. Pretty dirty stuff, if that's the case.
