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Coventry City back to the Ricoh Arena

Coventry City have been given permission to return playing at the Ricoh Arena
Obviously as a club who have faced a spell away from our home ground, we are more than aware of what It feels like to return home

Congratulations to Coventry and their supporters I am sure that first home game will be buzzing
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Comments

  • Great news for Coventry fans , unsurprisingly , their attendances were shocking at their latest gaff.
  • Well done to all concerned.
  • Coventry City have been given permission to return playing at the Ricoh Arena
    Obviously as a club who have faced a spell away from our home ground, we are more than aware of what It feels like to return home

    Congratulations to Coventry and their supporters I am sure that first home game will be buzzing

    Well done them but I would be shocked if they genuinely thought that the Ricoh Arena was home.
  • Pleased for them. We know what its like in exile.
  • edited August 2014
    Good luck to them although NLA won't be of the same opinion. There is very little in comparison however to the exile and return that we made and the emotions that those of us experienced during the 'Back to the Valley campaign' the official announcement of the return at Woolwich Town Hall and subsequent homecoming on 5th December 1992.
  • Highfield Road, Jimmy Hill, George Curtis dumping Matt Tees in the front row of the stand.

    A stream of consciousness thread re Coventry City.

    Pleased for any team to be back in its own city although, as said above, I wonder how many fans regard The Ricoh, rather than Highfield Road, as home?
  • It's in Coventry, it's their stadium, it's as much their home as Pride Park is Derby's home or the King Power is Leicester's etc
  • There's no place like home.
  • Pleased for their fans!
  • Great news for Coventry fans , unsurprisingly , their attendances were shocking at their latest gaff.

    How can something shocking be unsurprising?
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  • I'm absolutely delighted for them. As one who remembers our selhurst years I wouldn't wish that on anyone (except perhaps you know who). I reckon they're a good bet for promotion now.
  • RedChaser said:

    Good luck to them although NLA won't be of the same opinion. There is very little in comparison however to the exile and return that we made and the emotions that those of us experienced during the 'Back to the Valley campaign' the official announcement of the return at Woolwich Town Hall and subsequent homecoming on 5th December 1992.

    Wow just made the hairs on the back of my neck stand up even just reading that. Wish I was alive to be apart of it.
  • It's in Coventry, it's their stadium, it's as much their home as Pride Park is Derby's home or the King Power is Leicester's etc</blockquote

    Dont Derby and Leicester own their grounds whereas Coventry just rent a stadium ?

  • Decent club decent stadium job done
  • edited August 2014
    Nope, I'm indifferent about this. They are nothing like us as a club and they have more than a small minority of scum fans.
  • They quite rightly won't be celebrating or turning up until their excuse for directors leave the club.
  • MrOneLung said:

    It's in Coventry, it's their stadium, it's as much their home as Pride Park is Derby's home or the King Power is Leicester's etc

    But still "their" stadium, even if it's not ideal. In 1985 Charlton may not have owned The Valley, but it was still our ground...
  • Steve Waggott, their development director, has developed Coventry as I expected :-)

    http://www.bbc.co.uk/sport/0/football/28894278
  • JaShea99 said:

    Great news for Coventry fans , unsurprisingly , their attendances were shocking at their latest gaff.

    How can something shocking be unsurprising?
    'Unsurprisingly, I receive a terrible shocking sensation when I put my wet fingers into the electric socket'
  • Match will be live on Sky. While they do have a fair number of numpty supporters, they are not like Millwall ( whereby even the decent ones still revel in their "reputation" ). Looking on the Charlton Facebook page we have more than one or two ourselves, so I cannot hold the actions of a few as a reason not to wish them luck.

    Highfield Road is now a housing estate, so with the best will in the world they'd are never going to be able to go "home". The Ricoh is the best they have got, so I am sure that a fair number will be happy just to see the team back in the city, indeed a number will not even be old enough to remember Highfield Road.

    Best of luck to 'em.
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  • The most important thing about this news is that it represents a complete victory for football, the fans of Coventry City, Coventry City Council and for common sense over the incompetent and completely unprincipled hedge fund, Sisu Capital Limited.

    For once, a High Court judge has got it absolutely right when dealing with a money grabbing entity attempting to use the letter of law to over turn what's right and proper.

    Sisu, the hedge fund owners of Coventry City who moved the club to Northampton in the first place, have suffered a total defeat in a high court judgment damning their “mismanagement” and the "rent-strike” they conducted to deliberately imperil the owners of the Ricoh Arena.

    Sisu had made allegations that Coventry City Council and its officers behaved improperly when the council refinanced a loan to the arena operating company, ACL, in January 2013, but Mr Justice Hickinbottom found that the council behaved properly throughout and that Sisu had withheld rent due at the Ricoh in order to financially “distress” ACL and hence buy a half share of the Stadium "at a knockdown price”.

    Sisu had "seriously mismanaged” the club, the judge found, having lost around £40m since 2008 – when the hedge fund bought City, then in the Championship and playing at the Ricoh, as a “commercial investment”.

    The rent, high at £100,000 a month, and all other arrangements, including that food and drink income went to ACL, were known to Sisu when they took over. They spent three years and huge money on a failed effort to win Premier League promotion before seeking to renegotiate the rent and arrangements, which ACL were prepared to do. However, while negotiating, Sisu deliberately withheld the rent to “distress” ACL.

    The judge found: “Sisu had no strategy for maintaining a sustainable football club, except one which involved the purchase, at a knockdown price, of at least a 50% share in ACL and thus the Arena” and the purchase of ACL’s bank loan, also “at a knockdown price”. Trying to secure those aims at the lowest cost, Sisu stopped paying the rent, doing so for the last time in March 2012.

    “Sisu distressed the financial position of ACL by refusing to pay ACL any rent or licence fee,” the judge found. “... It had the effect of reducing the value of the share in ACL that Sisu coveted. Sisu’s strategy of distressing ACL’s financial position ... was quite deliberate.”

    The 49-page judgment is shot through with references to this “rent-strike”. It says: “CCFC [owned by Sisu], had fallen into a parlous state as a result of mismanagement, had unilaterally refused to pay the contractual rent it was legally obliged to pay to ACL.”

    For those interested, the co-founder and CEO of Sisu is a lady called Joy Seppala who deserves to be named and shamed. This is what Bloomberg Business Week says about her;

    Ms. Joy Victoria Seppala founded Sisu Capital Limited in 1998 and serves as its Chief Executive Officer. Ms. Seppala serves as a Manager at Huntsman Advanced Materials LLC. From 1995 to 1998, she served as Worldwide Head of the Special Situations Investment Group at Paribas Corporation in London. She joined Paribas Corporation as its Vice President in 1992. She worked for a number of years in the mergers and acquisitions departments of Kidder Peabody & Co. Incorporated, Drexel Burnham Lambert Incorporated, and Mitsubishi Trust & Banking Corporation. Ms. Seppala serves as a Panel Member of The Takeover Panel (U.K.). She serves as a Director at Sisu Capital Limited.

    That CV is a great testimony to all the bullshit in the world of finance.

    Sisu have, of course, appealed against the High Court judgement. Does Steve Waggott have a conscience?
  • Thanks for putting the article up.
  • No comparison to them and us they are no good coventry wankas we never were or are

    Damn you waggot fukd it up again
  • The proposed Wasps takeover will probably ensure that Coventry City FC gets a prolonged lease to stay at the Ricoh. It is Wasps who taking a big punt here. The name gives a clue: 'London Wasps' .. already they pay in High Wycombe. Will their lone suffering supporters be trecking from North London to Coventry to watch them play (say) Newcastle or Sale on a cold and frosty Saturday afternoon? .. we will see. On the other hand, Coventry RUFC in the 60s and early 70s was THE top rugby club in the days before professionalism and a proper league structure. There are a lot of rugby football fans in the area.
  • edited August 2015
    Looks like everyone involved was home to Mr Cockup!
  • The deserve no.trains scummy club
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