Coventry need to complete ......

[oatcakemate]

a takeover by Friday afternoon if they are to avoid going into administration and incurring a 10-point penalty.
The club, which has debts in the region of £38m, has been given until 1600 GMT to prove its solvency.

If Coventry lose 10 points, they would drop into the bottom three of the Championship and possibly lose the services of manager Iain Dowie.



I cant forgive them still for the FA CUP knock out in 1987.....so fook erm!

[The Toxic Avenger]

Is Dowie going because they won't be able to afford him or is he just running off because he can't stomach a relegation fight?

[Jamo on the wing]

Good to see Dowie still has the stomach for a fight the gutless fecker..........

Still at least he's got the face for it ;D

[Widget123]

even if coventry drop 10 points the amusing thing is they'll still be above preston on goal difference

[TheBra1n]

what i want to know is, who in thier right mind would pay £53 million to own coventry city, it really beggers belief

would take on Coventry's £38million debt and pay approximately £15million for complete control of the Midlands outfit.

[lordb]

Its not particularly the FC that potential new owners are interested in (speaking generally) but more the gubbins @ the arena,hotel e.t.c.

[MarkWolstanton]

lordb said:

Its not particularly the FC that potential new owners are interested in (speaking generally) but more the gubbins @ the arena,hotel e.t.c.

I don't think that Coventry own a single brick of it, Lord.

That is a big part of their problem as I understand it.

They don't own the stadium or the rest of the paraphernalia around it. They don't even own any of the training ground and Academy centre. The Alan Higgs Sports Centre is a community facility.

Massive debts and no assets. It isn't hard to see why the other potential buyer walked away saying the situation is worse than it looks.

I can't say I have a great deal of sympathy. Spending what you haven't got to stay ahead of clubs who find the money to pay their way is a form of cheating. Thus the ten point penalty is quite justified in my opinion.

[lordb]

bizzare

[realstokebloke]

Can't see them pulling this one off / out of the fire but fair play to them if they do.

The boardroom there must have huge big windows and they've seen Ransom & co coming.

We really do need to be there, waiting when their better players don;t get a pay cheque at the end of this month.

[dexter97]

markwolstanton said:

lordb said:

Thus the ten point penalty is quite justified in my opinion.

I think the ten point penalty is a joke. Clubs should not be allowed to clear their debt so cheaply. I hate to say this, but I look forward to the day when a big club goes under. Only then will the Cardiffs, Leicesters and Leeds of this world sit up and take heed.

[Lakeland Potter]

I'm not sticking up for Coventry, far from it, but if today's proposed takeover does go through then the debt, as I understand it, will not be written off it will be either paid off or refinanced by Ranson's consortium. The ten point penalty will come in if Ranson's takeover does not proceed and the club goes into administration.

If the club does go into administration then ten points is a reasonable penalty. But, to my mind, there should be the possibility of a further penalty depending upon how a club gets out of administration. If a club pays only a few pence in the £ to its creditors then that second penalty should, in my opinion, be a harsh one - relegation at least and possibly much more. If, however, a club gets out of administaration without the creditors losing money, then fair play to them.

[Kenilworth_Stokies]

Like a car crash in the other carriageway I can't quite tear my eyes away from the Cov message boards.

Growing up five miles away from there during their FA Cup winning campaign I always hated the club and the place. Not sure I want them to go bust however. Suffer, yes. Bust, not so sure.

[Vestan Pance]

We should really be helping to be honest.

Come on Peter. Offer them a £10 for Ward.

[realstokebloke]

Make it a monkey & get 'em to throw in Alfasud.

[Vestan Pance]

Can they sue Stoke for selling them Marcus Hall?

I bet when they bought him they thought he was a footballer.

[Timmy]

Marcus 'Preditor' Hall - i remember one hell of a finish in the boothen net

[The Toxic Avenger]

I actually think we dropped a bollock in getting rid of Hall when we did - it was a long time before we properly replaced him. I refer you to season 2005/06, aka Broomes-Ageddon.

[Lakeland Potter]

Agreed. I never understood why we let him go. Did he and TP have a falling out? Because, to me, it didn't make sense for footballing reasons. Another great Stoke mystery to match the Petur Martiensson saga.

[vientianescfc]

I remember rightly (probably not!) wasn't Hall leaving down to some personal reasons (i.e. family) and his contract was mutally terminated to let him leave?

[Lakeland Potter]

I think that was said at the time but Coventry is within reasonable daily travelling of Stoke. Hoof makes a similar journey down to West Brom each day.

[Kenilworth_Stokies]

Cov rivals MB seem to think the deal is done.

I've just remembered why I hate them, always used to save themselves from relegation in the last 10 mins of the last game of the season.

Jam-strangling gits, as my Dad would say.

[bogus]

He's also a Cov supporter and wanted to go back,

[followyoudown]

didn't the story go that after a particularly woeful first half away performance at Gills TP refused to give his usual defend, defend, sit back and defend some more half time teamtalk so Marcus as a senior player stepped up and said a few words earning the eternal wrath of TP and was dropped for the next home game which Super John scored in and ran to celebrate with Marcus the sub.

His contract was running out and Stoke / Pulis didn't offer him another one when Coventry came in for him (And Asaba I think) we allowed him to leave but strangely asked for a fee for Asaba hence why he saw out the season on the left wing for us.....

Despite my avatar always quite rated him as a left back certainly better than Clarkey but no way was he a better a left midfielder than Hooky.

[jeffers]

Just seen on the news that they have accepted the takeover but it needs to be accepted by the shareholders. I'm not fussed either way to be honest, if they lose 10 points then at least thats one less team we have to think about.


40M in debt, that is one monumental f**k up. 10 points isn't enough in their case.

[Gunslinger]

I thought Marcus Hall did quite well for us. Nothing spectacular but calm and steady. He also supplied the pass when Brynjar scored the third goal against Sheffield W - it was TP's first win in his first stint at the club.

[Deleted]

72% of shareholders are the Cov board, so they have ratified the deal. The other 18% that need to ratify should do so by early next week. So, unless someone chucks a spanner in the works (very unlikely), Cov is "saved".

news.bbc.co.uk/sport2/hi/football/teams/c/coventry_city/7139107.stm

£20m in resources PROMISED, and debt to be "restructured" (read, if it all goes pear shaped, it ain't costing Ranson et al much cash at all!)

"Sisu have also signed a co-operation agreement with stadium owners ACL for the continued use of the Ricoh Arena."
And they still don't have a ground of their own ...


Marcus Hall - Yes, just like an unofficial match day post on here gets a wheeling - An unofficial half time talk gets you sent to Coventry.

ah


Edit 72% + 18% is 90% ... not 72 + 28 ... It is Friday ... and it's been a loooooooooooooooong week!

[DansViews]

So have they saved their arses now?

[oatcakemate]

Yeah theyre in the clear fella

[Kenilworth_Stokies]

There's still hope the Skyblue twats might go pop:

www.rivals.net/News/pgArticle.aspx?artid=2483_2976844

And yes, I have now changed my tune. Seeing how spawny they appear to have been to stave off admin at the last minute, I now want it to turn around and bite them on the arse.

[daverichards]

jammy twats