Mike Ashley evicting Coventry City

Teesste said:
What one earth!?!?! He really does know how to endear himself to football fans doesn't he.

Coventry appear a bit of a car crash behind the scenes given the carry on at the start of the season with the pitch following the Rugby matches.
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I don't think you can blame Coventry for the state of the pitch after the rugby matches played there. I feel that it was out of their control.
 
Does he want to turn into a mega distribtion centre for Sports Direct and pay £6.83/hour to young (straight off the coach) immigrants (18-20 year olds). Make them queue up to be searched every day, in their own time etc?

Coventry is geographically well located for a distribution centre.

I feel a bit for the CC fans they have had to put up with a lot in recent years.
 
Is there any word on what he wants do do with the stadium as what will it be used for if no football or rugby played there.
 
He's taking the mick. He obviously wants the club at a knockdown price. I don't know why the administrators of the stadium could not have sold the stadium to the same person buying the club. They've just made the situation a whole lot more complicated and worse. Ashley just wants to buy Coventry on the cheap or sell the stadium to the new owners at a massive profit. Obviously its always the fans who lose out unfortunately.
 
According to Coventry, it's because they're refusing to negotiate a new lease deal with him.

They had an existing deal running until 2031, and they wanted to continue on those terms, but he wants them to sign a new deal, presumably more expensive, that only runs for 1 year.
 
TeaCider said:
According to Coventry, it's because they're refusing to negotiate a new lease deal with him.

They had an existing deal running until 2031, and they wanted to continue on those terms, but he wants them to sign a new deal, presumably more expensive, that only runs for 1 year.
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So I guess this will make the lawyers plenty of money, if Ashley bought the stadium company doesn't he have to honour the agreements the company had, but if he bought the stadium from the receivers then the previous agreements no longer stand?
 
BoroMart said:
Well my point was that it's years of mismanagement, rather than the developments of the last few weeks.

If the Fraser Group didn't get an offer intime, that's further mismanagement. I suspect this will end up with Ashley selling to Fraser group and doubling his money, leaving Coventry needing to sell players to recoup that extra unplanned investment.
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Even if Mike Ashley plays the good guys and lets them pay the £25m they were going to anyway.. Mike Ashley ends up being £8m up for doing naff all.
 
Mike Ashley loves a distressed asset which he goes bottom fishing for i.e. paying very low price when it is at its weakest, but a buisiness can still can be brought back to healthy life.

Remember he bought Newcastle when the club was struggling a bit and made a very good profit on his investment. Glasgow Rangers he was desperate to buy on the cheap when they were relegated for financial cheating. I think he managed to get a minority stake. When House of Fraser was about to go under he bought them for very little and then asked some of the landlords to let him have stores rent free. He was after Debenhams when they were struggling. Debenhams struggled when a private equity consortium bought it and then sold most of the shares and over time put debts on the company. They also expanded their physical shop presence when internet shopping was taking off. When the shares began to dip around 2013 Ashley started buying. Wisely he did not go for BHS, because he knew Phil Green and family had taken £1.2 billion out of the business, leaving it with large debts, pension deficits and run down stores. PG did not encourage BHS to develop a significant online presence.
 
Redwurzel said:
Mike Ashley loves a distressed asset which he goes bottom fishing for i.e. paying very low price when it is at its weakest, but a buisiness can still can be brought back to healthy life.

Remember he bought Newcastle when the club was struggling a bit and made a very good profit on his investment. Glasgow Rangers he was desperate to buy on the cheap when they were relegated for financial cheating. I think he managed to get a minority stake. When House of Fraser was about to go under he bought them for very little and then asked some of the landlords to let him have stores rent free. He was after Debenhams when they were struggling. Debenhams struggled when a private equity consortium bought it and then sold most of the shares and over time put debts on the company. They also expanded their physical shop presence when internet shopping was taking off. When the shares began to dip around 2013 Ashley started buying. Wisely he did not go for BHS, because he knew Phil Green and family had taken £1.2 billion out of the business, leaving it with large debts, pension deficits and run down stores. PG did not encourage BHS to develop a significant online presence.
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They were placed into liquidation, not relegated.
 
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