March 2011 Archives
The week of scandal and revelation at the Ricoh Arena has not only been the most entertainment we fans have had in ages, but it has also shed some light on the previous regime.
I'm amazed Ray Ranson and Sisu ever managed to agree to buy the club together, because it now seems that they have disagreed on almost every issue ever since. But more importantly they clearly had their own conflicting priorities for our club.
Sisu's priority was to buy the stadium, or at least half of it. Ranson, on the other hand wasn't so bothered about the stadium and wanted the investment made in the playing side.
One of my fellow bloggers described us as a 'Soap Opera'. The new CEO describes us as a 'bit of a basket case' and the stories and board room changes keep rolling on. We have gone from famine to feast with the amount of club officials who now suddenly want to talk to the press and fans.
To add to the sense of pantomime that surrounds the club at the moment. The taxman turns up at the Ricoh Arena to seize assets because of unpaid PAYE bills. Are they the only people who don't know we don't own the ground!
It could only be more comical if they had left with the goalposts and some balls!
Seriously though, what on earth is going on at the City?
The tax is now paid and the creditors and other un-paid bills appear to be paid, according to the board. The company accounts should also be published soon which should make interesting reading to say the least!
The new chairman tells us SISU nearly pulled the plug on the club over the weekend. Why didn't they you wonder?
Maybe they are on the verge of new investment or a new buyer? If the club went into administration then SISU would get very little if anything back. If it is solvent then there is a chance they could get some of their investment back when they sold it.
SISU also state that the club is not for sale?
A statement I just don't understand. If a so called investor did come in, they would want something in return for their money. Either a stake in the club, interest on money loaned or shares etc. Investors who give money away for free are rare!
Lets face it, SISU bought the club because they thought they could make money out of it. The fact they haven't is down to them.
So like all City fans I am still very concerned about the future especially when the new Chairman says they are not sure if they have enough money to get through to the end of the season without further funding!
HAVING listened on CWR then read the quotes in todays Telegraph of the press conference clearly the powers that be at Coventry City hope a fan like me will be relieved of my concerns
Well I suppose the funding secured at the eleventh hour to beat the tax man at least ensures administration is staved off for now.The Chairman paid tribute to SISU for putting up the money even though everyones saying beastly things about them.
Well that's me told off. But I can't help concluding an injection of cash when we were competing in the top six and attracted twenty seven thousand against Leeds might have been more helpful
KEN Dulieu says that candidates are queuing up to become Coventry City's new manager - but caretakers Andy Thorn and Steve Harrison look set to spearhead their fight against relegation.
NEW Coventry City director Leonard Brody took a swipe at the old guard yesterday as he declared that the club are in exactly the same financial mess as when Sisu rode to the rescue in 2007.
David Bell believes his game will come to life thanks to Andy Thorn's new free-flowing football philosophy.
NEW evidence has emerged about the extent of Coventry City's financial plight with the discovery that the club has taken out a mortgage on its training ground to raise cash to help cover running costs.
FORMER Coventry City vice-chairman Gary Hoffman is trying to find investors to buy the crisis-hit club and the Ricoh Arena.
GARY Hoffman insists the reason Ray Ranson quit as chairman and board director is because Coventry City owners Sisu failed to give him the tools to do his job.
It's been two frantic weeks with more happening at the Ricoh in the last couple of weeks than all season. A manager sacked, a chairman resigned and a new chairman in place.
Maybe its time to take stock.
SISU are not very popular at present and they only have themselves to blame for that. Very poor communications between the board and fans along with getting rid of local board members and replacing them with people the average fans has never heard off.
We are told SISU are committed to the club while looking for new investors. Reading between the lines they are looking for an exit strategy.
We are also told that next season we should break even.
This should be easier to achieve with a number of top earning players out of contract. Westwood, Gunnar, King, Doyle (gone already) and Carsley to name but a few. Add to this the increase in TV revenue of around Â£1 million, if we stay up, and they could well balance the books.
However if they do, and do not invest any money, then I can't see how we will be able to compete next season
Maybe its time the Football League and the FA acted to ensure the future of football.
Introduction of rules that clubs can only pay wages that represent a maximum of 65% of a clubs total income would help for a start. This could be phased in over a couple of seasons to allow existing contracts to run down.
This will certainly change the balance of power from players and agents to the clubs themselves.
In this age of austerity with cut backs and job losses all around, maybe it's time football woke to its responsibilities to the fans and got its house in order before clubs start going to the wall!
AFTER a huge week in Coventry City's history fans like me are left with their heads spinning trying to take it all in
As ever to make value judgments you need to have the full facts and that's never something the powers that be at Coventry City are good at providing
We are still short of the reasons why Ray Ranson has left the club.It could be that a statement from him could disrupt the desperate positive spin the current board are trying to create
For myself the Telegraph story which exposed the transfer embargo and suggested the club had creditors aplenty,took some getting used too
WHAT a crazy few weeks at our club with the manager getting the sack then the chairman standing down,and talk of administration and the possibility of a ten point deduction.
This can only be Coventry City F.C. where the scriptwriters on EastEnders would be hard pressed to come up with storylines as madcap as the goings on at the Ricoh Arena.
Plus add in stories of clubs wanting to take two key strikers out on loan when goals are hard to come by and injuries to players when we need a fully fit and strong squad to take on a possible relegation battle,you have to pinch yourself and ask the question,"Is this a mad dream I'm having or is it reality ?"
IF RAY RANSON'S resignation is confirmed today, as expected, then it really would be a sad day for Coventry City Football Club.
The implications of his departure will much depend on whether he jumped, or was pushed. If he was pushed, then the disruption and disharmony in the boardroom is as bad as many feared. If he jumped, then it suggests a larger threat looms ahead.