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

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Rats and the sinking ship............

http://news.bbc.co.uk/sport1/hi/football/teams/c/coventry_city/7037127.stm


Coventry chairman Robinson quits

Acting Coventry chairman Geoffrey Robinson has resigned to return to his role as an MP after the collapse of a takeover by an American consortium.
The club announced that Manhattan Sports Capital Partners Limited withdrew their investment interest on Monday after months of negotiations.
Robinson said he did not have enough time to resurrect another deal and that director Joe Elliot would be chairman.
Paul Fletcher resigned as managing director last week.
Robinson said: "Other intensive negotiations are under way and they need full-time attention."
Manhattan Sports Capital Partners Limited had agreed a deal in principle to buy the Championship side and take on estimated debts of £28m back in February.
But Robinson, who is Labour MP for Coventry North West, feels he does not have the required time to help secure more funding.
"On the resumption of Parliament on Monday 8 October it was quite clear to me that I could no longer continue as acting chairman of Coventry City Football Club for there are simply not enough hours in the day," he said. "It had been my aim by the end of the (parliamentary) recess to have achieved the Manhattan takeover and to return full-time to Westminster. "Sadly, Manhattan and other negotiations did not come off so I must stand down now so that I can properly conduct my Westminster and constituency duties."
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Oh deary me :icon_lol:

Briefing for the Supporters Trust.
Hopefully through media communication over the last few weeks the Supporters Trust will be aware of the reality of the very difficult financial position that now faces Coventry City football Club.
It is now public that the football club's debts are at £38m - and in addition there are contingent liabilities such as further payments on player transfers that are due to be met in the next one or two years.
Of even greater importance is the day-to-day trading position of the football club.
In recent times, there has been a suggestion the football club are trading at approximately £4m a year loss. The reality for this financial year is likely to be a figure much nearer £10m.
Whilst there has been much speculation and discussion about likely take-over of the football club, it is clear from the information available to ACL (who have always been prepared to talk to anybody brought forward by the football club) that the real concern on any new purchaser of the club was less about historic debt (where a deal might be done with the bank and existing shareholders), but rather with financing the on-going financial trading position, and having to carry out some fairly major financial and operational restructuring of the club's activities.
Whilst there has been much speculation about what is or is not the value of ACL as a company - and how much or how little the City Council would be prepared to accept for its shares in ACL - the real issue is about the trading position of the football club.
It is now fairly openly acknowledged that whoever comes forward to try to rescue/take over the football club probably needs access to £15-20m of cash, even before they think about buying ACL.
The supporters trust has been very positive in working with officers of the Council over the last five or six years, in both helping us open up and operate the Arena, and in communicating the reality of the financial position between the football club and ACL with the supporters it represents.
We would hope that the Supporters Trust can continue to be that open and transparent communication with supporters. The City Council continues to seek to work with all bona fide parties to seek a long-term secure future for CCFC, which we all recognise is a fundamental part of what makes Coventry Coventry.
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I have regular spat with a scummer at work. Today he layed his grubby cov hands on my Leicester beer mat that is blue tac't to my comp and hid it.




Burn every last one of the feckers. They have no fans anyway. I would miss them like the 2.5% payrise being offered to the postal workers.
 
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MKFox said:
any news anyone?
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I stood in morrisons last night waiting for the mrs reading the Coventry telegraph and it seems all is not well. The mp that pulled out this week stands to lose about 19 million if they do go. 11m he has put in and around 8 million in loans secured in his name. The 2 major debtors are the inland revenue for around 3m and the co-op bank (remember they let derby get away without paying). The total debt is around 28million.

Seems that unless someone comes in quick they are in big trouble.
 
fcukcov said:
Seems that unless someone comes in quick they are in big trouble.
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so no news is good news


and we have no news

:biggrin::biggrin::biggrin:

i may well be going a xmas do at the Ricoh, not happy about giving them money...
 
Hazzman said:
That was my reaction- makes Coventry, 'Coventry' - what an empty stadium and support which only comes out when they play Man United.
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eeerrr... their ground has been 10% fulller than ours has this season.
 
Real Sharapova said:
err, the facts are

LCFC average home league attendace so far 23,030
COV average home league attendance so far 18,995.

Looks like boc's calculator is playing up.;)
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Thank goodness. Although it's not like Bob to get it wrong is it :081::081::081:
 
Real Sharapova said:
err, the facts are

LCFC average home league attendace so far 23,030
COV average home league attendance so far 18,995.

Looks like boc's calculator is playing up.;)
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Why would I need a calculator to wotk out something which I can copy-and-paste? In any case I made no comparison of average attendances.

Hazzman said:
:icon_lol::icon_lol:

Ricoh Arena's capacity is the same as ours.

72.0 % to 1 d.p. for us

59.4 to 1 d.p. for them.

They never even sold it out :icon_lol:
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It's my understanding that their current safety licence allows a maximum capacity of something less than 24,000. It was on this that I based my statement.
 
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