Generic clubs in financial crisis Thread

[bobby1413]

Being reported that only 215 season tickets have been sold at Coventry. With their fans turning against the club, with the whole stadium fiasco, unless someone pumps money into the club it's hard to see how they'll survive.

215?! I just googled and found article confirming http://www.coventrytelegraph.net/sport/ ... 00-5327627

That's crazy. Good on the fans in a way, I don't see why they should pay all their money to the club which are currently in such a state.

[PieEater]

Why would you buy pay up front for a season ticket when there's no guarantee they'll even exist to play out the season.

[Alexander Litvinenko]

I'd also image that the credit card companies aren't allowing any transactions, so people are being asked to stump up cash.

[One8Seven1]

The figures are that low out of protest, have a read of their forums or talk to their fans on Twitter.

[yappy]

Bit of a difficult that one really. Obviously Coventry fans have every reason to be unhappy, however the season ticket money is vital for the club to operate. If something similar was to happen to Reading, I'm not sure I'd be in favour of doing something to further jeopardise the club's future.

[One8Seven1]

Bit of a difficult that one really. Obviously Coventry fans have every reason to be unhappy, however the season ticket money is vital for the club to operate. If something similar was to happen to Reading, I'm not sure I'd be in favour of doing something to further jeopardise the club's future.

For the sake of 35 miles I'd still go to every home game. It's crap, but it's only for three years.

[Alexander Litvinenko]

..... but it's only for three years.

How do you know that?

Or are you just taking the word of owners who have habitually lied to you in the past?

[AthleticoSpizz]

just hope that Cov get away with the same murder as Pompey did in the grand scheme of things

[PieEater]

Their situation is totally different to Pompey, they haven't been signing players they can't afford and reneging on previous CVAs.

[From Despair To Where?]

Coventry were still dreadfully mismanaged though. Putting aside the £1.3m annual rent for one moment, the owners signed away 100% of the food revenue to Compass when they got the contract, they only got something like 10% of the parking revenue. Their break even attendance was 23,000. City fans want the club in Coventry. Sixfields may be the only option but it isn't a realistic one but hopefully Coventry fans can take heart from what happened to Brighton.

I am told by a Coventry City season ticket holder at work that there is an offer on the table to renegotiate the rent at the Ricoh to £150,000 a season but I believe that is dependant on all back rent being cleared. which required someone to stump up the cash to buy the club and pay off the debts. Clearly Coventry City are the only viable tenant so I don't really know what the owners of the ground hope to achieve the elephant on the badgeh is quite ironic considering there's a big white one sitting on the outskirts of the city

[One8Seven1]

..... but it's only for three years.

How do you know that?

Or are you just taking the word of owners who have habitually lied to you in the past?

The current CEO and prospective new owner(s)/consortium have both suggested a three year stay at Six Fields whilst they build a new 18000 capacity stadium in Coventry. Yes that can change, and there can be delays, but a new owner isn't going to piss about and lose supporters by dragging out the process of bringing the football club back to the local area.

[Alexander Litvinenko]

..... but it's only for three years.

How do you know that?

Or are you just taking the word of owners who have habitually lied to you in the past?

The current CEO and prospective new owner(s)/consortium have both suggested a three year stay at Six Fields whilst they build a new 18000 capacity stadium in Coventry. Yes that can change, and there can be delays, but a new owner isn't going to piss about and lose supporters by dragging out the process of bringing the football club back to the local area.

Yes, but they're hardly likely to say "we're moving out, no idea when we'll be back because that'll involve us spending millions and millions building a new stadium...."

Historical precedent in similar situations shows that such promises of new stadia are very rarely kept.

[One8Seven1]

I agree, however these aren't exactly normal circumstances, are they? The club are having to play their home games 35 miles away. They can't do that forever, and the fans wont except it either; so they have to bring the club back to the immediate area as soon as possible. Any new buyer/investor/consortium will have to factor in a move to a new stadium, and that could realistically take between the scheduled 3 years to 5 years. There would be no point purchasing the club if they had an ulterior motive to keep the club in Northampton.

[Alexander Litvinenko]

Why they've let it come to this situation, or even why they bought the club in the first place - are complete mysteries. They don't really have to play in Northampton - or rather they didn't, but they let a minor situation get completely out of hand to where it is now.

Trying to second guess their aims and their motives is a mug's game - their actions and decisions so far seem completely irrational, and no-one really knows what their motives are.

I think their whole business plan depended on Coventry getting promoted to the PL - or at least staying in the Championship. Now that's not happened they don't seem to have an alternative plan and owning the clubs seems to be a bit of an embarrassment to them.

[maffff]

Being reported that only 215 season tickets have been sold at Coventry. With their fans turning against the club, with the whole stadium fiasco, unless someone pumps money into the club it's hard to see how they'll survive.

215?! I just googled and found article confirming http://www.coventrytelegraph.net/sport/ ... 00-5327627

That's crazy. Good on the fans in a way, I don't see why they should pay all their money to the club which are currently in such a state.

and the majority of them were brought by the club apparently....

[Badger Finger]

A whopping 2204 at Sixfields today to see Coventry. Only about 200 from Bristol City.

They're pwoppa fukked ain't they

[Judge Drenthe]

A whopping 2204 at Sixfields today to see Coventry. Only about 200 from Bristol City.

They're pwoppa fukked ain't they

Disgusting support from Bristol City.

[Ralph Jolly]

Coventry fans watching the game from the hill outside Sixfields

[PieEater]

So are they in administration - in which case the club is run by the administrator so why are the fans protesting about Sisu - or is it still owned by Sisu in which case why did they get a 10pt deduction for not agreeing a CVA?

[PieEater]

Some explanation in this article:
http://aprisonofmeasuredtime.wordpress. ... n-in-debt/

Essentially as a subsidiary of Sisu put them into administration they have appointed the administrator so the fans think Sisu are still in control.

Presumably he's another Andronikou type.