winsleyred Posted June 12, 2013 Report Share Posted June 12, 2013 http://www1.skysports.com/football/news/11710/8770314/League-One-Coventry-will-play-at-the-Ricoh-Arena-for-free-next-season Ricoh Arena: Set to remain Coventry's home The Directors of Arena Coventry Limited (ACL) have announced that Coventry City will be allowed to play at the Ricoh Arena for free next season. Coventry, who are currently in administration, have been in a rent dispute with their stadium landlords, Arena Coventry Ltd, for more than a year. The Ricoh Arena, which has been the Sky Blues' base since 2005 when they left Highfield Road, is managed by Arena Coventry Ltd on behalf of the stadium's joint-owners. The latest development will come as a boost following a turbulent spell for the club, after Coventry were issued with a 10-point deduction last season for entering administration. That decision effectively scuppered any possibility of promotion from League One but Steven Pressley's side will go into the new season with renewed confidence as their off-field problems begin to be resolved. A statement issued from ACL said: "To enable the Football Club to fulfil its commitments under Football League Regulations, and to provide stability whilst Coventry City Football Club Limited, which owns the League Share, remains in Administration, ACL has agreed to allow the club to play its homes games free of any rental fee, therefore removing any need for the supporters to travel outside the City to watch home games. "All charges incurred on match day as a consequence of staging a football match, will be passed through at cost. "For example, stewarding, policing, utilities, frost protection, match day repairs to stadium, health safety and compliance management and certification, service charges for maintenance contracts e.g. flood lights, generators etc." Link to comment Share on other sites More sharing options...
Philly The Kid Posted June 12, 2013 Report Share Posted June 12, 2013 Sorry, what's the wider point you're making? Link to comment Share on other sites More sharing options...
Monkeh Posted June 12, 2013 Report Share Posted June 12, 2013 They need to come out of administration before they can start the season don't they? Link to comment Share on other sites More sharing options...
Philly The Kid Posted June 12, 2013 Report Share Posted June 12, 2013 The way I understood it was they had to come out of Administration before the league would allow them to groundshare. As that wasn't happening anytime soon, they've reached this deal. However, I also believed that because their financial problems were so severe, getting the ground rent free just about allows them to play the season, had they not, they wouldn't have had the money to fulfil the fixtures. A bloke at work is a season ticket holder, and this was all about brinkmanship apparently, the threat was made to groundshare in order to secure a better deal at the Ricoh arena but it backfired when the stadium company called their bluff and said "Thanks, but no thanks, shut the gates on your way out" They are severely limited in what they can do and players they can sign whilst in administration, and are properly in the mire he tells me. They haven't got any advantage he reckons they're in the same, if not, slightly worse position that they were last season.... Link to comment Share on other sites More sharing options...
Monkeh Posted June 12, 2013 Report Share Posted June 12, 2013 The way I understood it was they had to come out of Administration before the league would allow them to groundshare. As that wasn't happening anytime soon, they've reached this deal. However, I also believed that because their financial problems were so severe, getting the ground rent free just about allows them to play the season, had they not, they wouldn't have had the money to fulfil the fixtures. A bloke at work is a season ticket holder, and this was all about brinkmanship apparently, the threat was made to groundshare in order to secure a better deal at the Ricoh arena but it backfired when the stadium company called their bluff and said "Thanks, but no thanks, shut the gates on your way out" They are severely limited in what they can do and players they can sign whilst in administration, and are properly in the mire he tells me. They haven't got any advantage he reckons they're in the same, if not, slightly worse position that they were last season.... I'm not sure on the admin rules but didn't leeds get threatened with not being given the golden share because they weren't out of administration in time for the football league to start (got out in the last second), Anyone know the rules on this? Link to comment Share on other sites More sharing options...
myol'man Posted June 12, 2013 Report Share Posted June 12, 2013 3 points in the bag! Link to comment Share on other sites More sharing options...
Cambridge Batch Red Posted June 12, 2013 Report Share Posted June 12, 2013 Shit boring ground in the middle of nowhere. Was hoping they would fold. Link to comment Share on other sites More sharing options...
winsleyred Posted June 12, 2013 Author Report Share Posted June 12, 2013 Sorry, what's the wider point you're making? That by not having to pay rent gives them an advantage over other clubs with money problems Link to comment Share on other sites More sharing options...
BS15_RED Posted June 12, 2013 Report Share Posted June 12, 2013 From what I can gather, there's three parties vying to take the club over, Sisu, a hedge fund that had control before administration, they want to ground share at Walsall and then move back to a new stadium in Coventry with a 12k capacity! A Sweden based American millionaire who has an agreement in place to buy 50% of the Ricoh, and a Chinese consortium. There's a deadline soon for bids and then the administrator will decide who the preferred bidder will be. Link to comment Share on other sites More sharing options...
havanatopia Posted June 12, 2013 Report Share Posted June 12, 2013 Yet another illustration, if one were needed, on how not to run a football club. For the fans I guess I am happy they will play at the Ricoh; i say 'i guess' because it might have a double edged sword sometime down the road. Link to comment Share on other sites More sharing options...
Negan Posted June 12, 2013 Report Share Posted June 12, 2013 Shit boring ground in the middle of nowhere. Was hoping they would fold. Coventry away is usually a good game and usually one where we win and score quite a few. Link to comment Share on other sites More sharing options...
Philly The Kid Posted June 12, 2013 Report Share Posted June 12, 2013 That by not having to pay rent gives them an advantage over other clubs with money problems Ah, I see... I'm told by my work mate that their finances are so dire that if they hadn't have got the ground for nothing (which isn't strictly true, they still have to cover the running costs for staff, groundsmen and all that entails, and match day costs), they wouldn't have had enough to fulfil their home fixtures. So basically the stadium company is letting them have the stadium at cost price, if you like. Of course, the other issue is that if the football club moved out, the stadium company are left with a white elephant which still needs upkeep and maintenance. It would take a lot of concerts to keep it afloat. I saw Muse there the other week and they were stunning, but that's another story. Coventry, as a football club, are on a Portsmouth like knife edge, And, I suspect, if clubs don't stop burying their heads in the sand regarding the new financial rules, will head a long list of clubs who will suffer the same problems... At least we've made some sort of attempt at putting our own house in order... Link to comment Share on other sites More sharing options...
A Horse With No Name Posted June 13, 2013 Report Share Posted June 13, 2013 With regards to the joint owners, why on earth would you want to own a huge 36000 stadium situated in the middle of nowhere, basically, with no one able to make use of it bar a couple of concerts a year. I know the arena has excellent conference facilities etc but it strikes me that the whole thing would be a white elephant if the football club left. Link to comment Share on other sites More sharing options...
glynriley Posted June 13, 2013 Report Share Posted June 13, 2013 With regards to the joint owners, why on earth would you want to own a huge 36000 stadium situated in the middle of nowhere, basically, with no one able to make use of it bar a couple of concerts a year. I know the arena has excellent conference facilities etc but it strikes me that the whole thing would be a white elephant if the football club left. I was under the impression that the Richo is far more than a football stadium that holds the odd concert. Pretty sure there is a huge casino that is in use every night , also conference facilities and in indoor venue? Link to comment Share on other sites More sharing options...
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