Coventry in admin

Coventry in admin

That statement would seem to suggest that they will go into administration in 10 days unless the takeover is completed.
 

Coventry in admin

How did this happen? Did they overspend on players or what?
There are too many clubs going into administration, it's probably long past time the FA stepped in and started properly regulating the leagues so that this sort of thing is less likely to happen i.e. salary caps, ticket price caps, etc.
 

Coventry in admin

Couldn't believe it until I read about it............

Who's going to be the 3rd club to go into admistration. After all things always runs in threes...........
 

Coventry in admin

....................tough................
 

Coventry in admin

VTG said:
How did this happen? Did they overspend on players or what?
There are too many clubs going into administration, it's probably long past time the FA stepped in and started properly regulating the leagues so that this sort of thing is less likely to happen i.e. salary caps, ticket price caps, etc.
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The 10 point deduction was an attempt to prevent this sort of thing happening to get clubs out of short term financial problems. I'm not sure how ticket price caps will help clubs.
 

Coventry in admin

Been coming for a some time I gather.

The stadium is not theirs so they have no assets to speak of unless Tabby is now worth £10m or so!

I assume this is a hangover from their relegation from the Premiership and paying too high wages to try and get back.

You reap what you sow.
 

Coventry in admin

They aren't going into administration at the moment, it is merely a way of giving themselves 10 days to force through a proposed takeover. Whether they will have to go into administration if it doesn't come off is anyones guess :confused:
 

Coventry in admin

Great time for other clubs in that division to go into administration - all of a sudden with two other clubs minus ten staying up will seem almost achievable.
The penalty of minus 10 will not be such bad punishment if this carries on.
 

Coventry in admin

Coventry don't own the stadium, when they sold their old ground the money went on the land, they can buy back 50% of the staduim in the future and they are £38M in debt
 

Coventry in admin

Add Cardiff, Swindon and Bournemouth (again) to the list.
Someone is going bust very soon!:(
 

Coventry in admin

SpiderBee said:
Add Cardiff, Swindon and Bournemouth (again) to the list.
Someone is going bust very soon!:(
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It certainly seems like one of those times when every other club suddenly seems up the creek. The "Clubs in Crisis" website is busy at the moment.

I think you can add Gillingham to the list, over £13m in debt and about to sell their ground to Scally for £9m who says they will be left with a"workable" £3.5overdraft.....great!

Can't really work out what is happening at Cardiff at the mo but I guess they are deeper in the mire than Risdale is making out.
 

Coventry in admin

If things are to be believed Dowie would walk if they go into Admin which would likely hurt them on the pitch especially seeing as Mifsud will likely be sold too along with anyone else who may raise a few quid
 

Coventry in admin

MetalBee said:
If things are to be believed Dowie would walk if they go into Admin which would likely hurt them on the pitch especially seeing as Mifsud will likely be sold too along with anyone else who may raise a few quid
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I think a certain Mr Tabb would go as well. He apparently had a stormer against West Brom this week and has been in a rich vein of form.
 

Coventry in admin

Somebody took them over today so they not goin into administration any more
 
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