Coventry City director Mark Labovitch has announced a fans forum to be held 27th June 2014 at the Parish Centre of the Church of Christ the King.
He says that he thinks the Ricoh Arena dispute can't be properly resolved while so many of the key facts are kept covered up from fans, and wants ACL and the Council to answer questions along with others.
Certainly there are questions to be answered, but the time for the blame game has long gone. What is important is the future of our club.
The Trust has asked but been unable to obtain proper and detailed answers from the owners/directors to the following:
- With the extremely low level of income based at Sixfields how can the directors put together a competitive player budget that meets the Salary Cost Management Protocol?
- Which players are out of Contract June 2014 and 2015? What are the plans for bringing players in and will we avoid an FL embargo this year?
- What is the connection between ARVO Master Fund Limited and the group of companies known as SISU aside from being joint shareholders in Otium?
- What assets were acquired by Otium Entertainment Group from Coventry City Football Club Ltd and Coventry City FC (Holdings) Ltd and at what value?
- The last accounts said there was an “intention” to continue to fund but not a “contractual certainty” does that mean the loans can be called in at any time?
- Will or have any of the costs of the dispute with ACL/Charity/Council become a liability of Otium or CCFC either directly or indirectly?
- How much is the annual interest liability on borrowings from ARVO and SISU investors? How will these payments be financed?
- Why are the amounts owed to ARVO and SBS&L £42m now shown as payable within 12 months rather than long term liabilities?
- How is £42m in borrowings, the funding of a new £20m stadium plus current losses until the stadium is built sustainable? In 3 years time that could be over £70m.
- Do player sales form part of the plan to meet loan and loan interest repayments?
- What is the targeted level of income expected from building own stadium and how much of that income will be available to the football team? If all of it how will the loans and interest be repaid?
- Most importantly when is our team coming home to its place in Coventry?
If you plan to attend this forum feel free to use these questions. If you do not get proper answers ask them WHY NOT