Coventry in admin

[Mark DRFC]

Not really a shock, that is all

[CoventryRed]

Not quite that simple apparently. Only CCFC Ltd are in admin, not CCFC Holdings. The part in admin has no assets nor employees which should see the club continue to trade as normal.

They'll apparently also use this as an argument that the 10pt penalty shouldn't apply.

[bobbymax]

Not quite that simple apparently. Only CCFC Ltd are in admin, not CCFC Holdings. The part in admin has no assets nor employees which should see the club continue to trade as normal.

They'll apparently also use this as an argument that the 10pt penalty shouldn't apply.

Well good luck to them with that but haven't other clubs tried the same trick and failed?

[eastender]

A bit confusing ,  a day before there due in court.

http://www.ccfc.co.uk/news/article/ccfc-statement-200313-728300.aspx

[CoventryRed]

eastender, it allows them to appoint their own administrator

[drfc1951]

Not quite that simple apparently. Only CCFC Ltd are in admin, not CCFC Holdings. The part in admin has no assets nor employees which should see the club continue to trade as normal.

They'll apparently also use this as an argument that the 10pt penalty shouldn't apply.

Well good luck to them with that but haven't other clubs tried the same trick and failed?

Didnt Southampton try something like that but still got deducted 10points?

[RoversAlias]

Aye I'm pretty sure Southampton tried to pull the same trick and it didn't work. Hope Coventry don't get away with it either.

[Mr1Croft]

It was Southampton's parent company that was placed in administration whereas this is only a subsidary company that has filed for admin. As long as Coventry can prove that this will not interfere with the financial management of the parent company and it has not been placed in admin as a direct result of anything to do with the football club there is no reason to punish them with a points deduction.

However I think there is more to this and this may not be over by a long way...

[MartinB]

If they are in top 2 -10 poins
If they get in playoffs -10 points
If they are midtable -10 points next season

Am I too harsh?

[BobG]

if they're within 10 points of the bottom four -10 points as well Martin!

BobG

[Milepostuk]

Seems odd that a non trading subsidiary is carrying all the debt. Surely anyone signing a major contract with this co would want a holding company guarantee. If not, then those responsible should be out of a job pretty soon as that would be a major cock-up.

[DearneValleyRover]

The FL haven't made their mind up yet again, it appears on the surface that Coventry are trying to do a better job than Southampton did but without the facts which nobody appears to have its hard to say, the indecision will hopefully play into our hands rather than a galvanising point deduction, saying that Thursday is the cut off point for deductions this season after that they come into effect next year, lets hope it's all a big distraction for them.

[benaldo]

The whole affair is just a reminder of how out of control and grubby football is behind the scenes. It's insane. Let them go out of business, along with portsmouth.

[albie]

A bit more background on the whole carry-on here;
http://www.twohundredpercent.net/?p=22291

What is it about football and money that makes people lose their marbles?

[bedale rover]

On the other thread it states that the bit of CCC in admin is the bit that holds the football league golden share ergo they are up the creek!