Oh dear. Poor old Cov.......

[SJN-Fox]

Getting out of administration is not just a case of accepting a 10-point penalty.

'tis if you're name's Bates

 

[Dour]

Last minute hitch... we can but hope.

 

[Yorkshire Vixen]

what time do they have to have it sorted by??

 

[Nottingham Fox]

what time do they have to have it sorted by??

4pm, but the deal has hit a snag

 

[Shents]

looks like we'll be up to nineteenth by the end of the day all we need now is another 15 clubs to go into admin and we might make the playoffs

 

[Steven]

looks like we'll be up to nineteenth by the end of the day all we need now is another 15 clubs to go into admin and we might make the playoffs

..... and I feel particularly good about this as, we as a Club were the only ones to vote against the ten point deduction. :icon_bigg :icon_wink

 

[Shents]

what would neil warnock say.....

 

[Yorkshire Vixen]

too much

 

[OldGit]

too much

 

[pipes]

Seems as if their deadline is 4pm TOMORROW. Yet I'm sure that last Monday they announced they had a 10 day limit, which would take them to today. Bastards, they'll still get out of it, you watch. I still think it's all a publicity stunt and they're not even in any real danger of admin, yet it will be proclaimed as a great escape when the deal is done

 

[Lako42]

Seems as if their deadline is 4pm TOMORROW. Yet I'm sure that last Monday they announced they had a 10 day limit, which would take them to today. Bastards, they'll still get out of it, you watch. I still think it's all a publicity stunt and they're not even in any real danger of admin, yet it will be proclaimed as a great escape when the deal is done

Talk Sport reporting it had to be done by 12 tonight.

 

[Nottingham Fox]

Talk Sport reporting it had to be done by 12 tonight.

Local Cov rag is saying 4pm tomorrow.

Tbh, I think they'l get it sorted

 

[Darth Vodka]

we don't want them to go into admin, we want them to be crippled by debt

if they go into admin now and take the hit, they could have investors by next season

if they tough it and struggle next season above the relegation zone, they're in real trouble cos the ten points might put them down

 

[Biffa Bacon]

Mr Ranson, who already has agreement to buy a major part of the Ricoh Arena, travelled from his home in Manchester to Coventry yesterday to sign the deal.

The multi-millionaire, who has the support of most of the Sky Blues shareholders and the full backing of the owners of the Ricoh Arena, had more meetings with the interested parties yesterday.

All seemed to be on side.

But then, late yesterday, there was an unexpected new stumbling block.

The reason for the hitch has not been disclosed.

Last night the club's chairman Joe Elliott, remained hopeful that the setback could be overcome before tomorrow's 4pm administration deadline.

from ic coventry

 

[Hammond Organ]

Council told Ranson to feck off then? I logged on today, hopeful too.

 

[RHYDAL]

Latest from Auntie......

http://news.bbc.co.uk/sport1/hi/football/teams/c/coventry_city/7139107.stm

Coventry face takeover deadline


Coventry need to complete 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.
A group led by Ray Ranson is trying to complete a takeover deal.
Ranson's Sisu Capital group looked to have competition for the club from Greek billionaire Alki David, but the filmmaker withdrew his interest earlier this week.
David, with a reported fortune of £4bn, had claimed that the club was "falling apart".
"The clock is ticking louder and louder, in the words of the Coventry chairman Joe Elliot," says BBC Radio 5 Live's Pat Murphy.
"The issue is complicated by so many interested parties being involved and their stance is highly significant here if there is going to be a takeover by the private equity firm Sisu.
"Ranson is fronting the bid and if successful he will have a seat on the new Coventry board. There are still a few technical glitches to be ironed out though.
"As we often say in sporting areas, this could go down to the wire. Literally so in the case of Coventry City on Friday." Earlier this week, Elliott told BBC Sport the club was on the brink of sealing a takeover deal with Ranson but distanced himself from David's interest and dismissed his claims that he had looked into the club's finances. "I had a brief conversation with Mr David explaining what the situation with Sisu was and I haven't heard back from him since," said Elliott.

 

[Nottingham Fox]

From: Local Cov paper .....

Hopes still high for Coventry City takeover

COVENTRY CITY'S takeover saga is going down to the wire.

Although negotiations dragged on late into last night, no agreement had been reached as the clock ticked down towards today's 4.00pm deadline that would force the Sky Blues into administration.

But chairman Joe Elliott remains confident that a deal will finally be concluded to put millionaire ex-footballer Ray Ranson in control at the Ricoh Arena.

Elliott said: "It's going to be an 11th hour situation, but we still remain very positive."

It is understood that late last night Ranson was involved in a conference call from his home in Manchester with other interested parties, but the deal could still not be finalised.

But the Telegraph understands that the takeover is likely to be completed before the deadline for administraton.

 

[Hammond Organ]

From: Local Cov paper .....

I second that emotion.

 

[homer]

Seven hours to go

Come on the administrators

 

[Melton Fox]

Seven hours to go

Come on the administrators

They'll be given an extension, just like Leeds were over and over again.

I hope they survive.