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Chairman on admin plan

Chairman on admin plan

Coventry City chairman Joe Elliott has been explaining the reasoning behind the club's statement earlier in the day.

He told Sky Sports News: 'We are doing all we can to act in the best interest of the club and to get this deal done. We are just trying to bring it to a close.

'We have been very honest and said that the clock has been ticking for some time. We need to bring this to a head.

'This does not mean we are in administration. What we are trying to do is push this along.

'We are doing everything to protect the bank and the credit holders for the best possible reason. We see it as a necessary road we have to take.

'Coventry City is not the easiest deal because there are so many parts, but it is our intention, everybody's intention, to end up with a solvent financial situation.'

Date:Monday December 3 2007
Time: 5:42PM


I wouldn't worry about it. The plan has been set about to get the bid to come in earlier. Very smart if you ask me. Plus, it isn't the board saying "we ARE going into administration". It can reduce the share price slightly but means that plans are there if the worst happens. As a result, the majority share is bought for a slightly smaller amount which then frees up money to allow stability in the future. I'M A BIT BORING AND FAR TOO SENSIBLE FOR A HARTLEPOOL FAN! Bring back Dimi, save us from the comedy of Jan Budtz!!!
03/12/2007 22:49:00
Interesting stuff mate. At least we should have a definitive answer one or the other over the next 10 days rather than the endless saga we have had to date.
Rugby Sky Blue
04/12/2007 08:40:00
there is now no return.For anyone to have any street cred it has to be a deal or admin on December 14th.
04/12/2007 17:13:00
I really hope this all works out well for the club.
05/12/2007 18:32:00
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