ian1964 10,761 Posted December 3, 2007 Share Posted December 3, 2007 Coventry are the latest club going into administration,I think that means an automatic ten point deduction ? 0 Quote Link to post Share on other sites More sharing options...
Gazza_8 233 Posted December 3, 2007 Share Posted December 3, 2007 Ian Dowie will fuck right off now. 0 Quote Link to post Share on other sites More sharing options...
Gribz 919 Posted December 3, 2007 Share Posted December 3, 2007 They have 10 days to get a takeover sorted, if not they will lose 10 or 12 points which currently puts them in the relegation zone. Nay luck Richard Keyes 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted December 3, 2007 Share Posted December 3, 2007 If they don't get a take over sorted and they get points deducted does that mean they might end up in liquidation? Administration can in essence be the beginning process of liquidation. When a company goes into administration they are basically saying they don't know how to trade through it. The administrator then comes in (usually a firm of accountants specialised in insolvency) and attempt to trade back out of the administration (often by trying to cut costs, make deals with govt agencies for payroll taxes, VAT etc and by asking creditors to agree to reduced payouts). However, Administration doesn't always lead to liquidation. A number of clubs have been in administration and none that I can recall went bankrupt (Dumbarton maybe ???) - but I am hazy on those details. If they get the points deduction and relegation there is a chance they may go bankrupt - BUT that depends on the fans, sponsors, merchandising sales etc also dropping - and you often also get players taking wage cuts to help out. Administration is never good but doesn't necessarily mean that they will go out of business. 0 Quote Link to post Share on other sites More sharing options...
Gazza_8 233 Posted December 4, 2007 Share Posted December 4, 2007 Airdrie? Once you get yourself into administration it takes years to get back to the level the club was at before administration. Just look at dirty, dirty Leeds. 0 Quote Link to post Share on other sites More sharing options...
fraser54 0 Posted December 4, 2007 Share Posted December 4, 2007 Am gutted for them Hopefully they get something sorted 0 Quote Link to post Share on other sites More sharing options...
Gazza_8 233 Posted December 4, 2007 Share Posted December 4, 2007 Am gutted for them Hopefully they get something sorted That's right, you're a Coventry City supporter. 0 Quote Link to post Share on other sites More sharing options...
Jon 0 Posted December 4, 2007 Share Posted December 4, 2007 Is that not the ENGLISH place your from young Fraser ??? 0 Quote Link to post Share on other sites More sharing options...
Gazza_8 233 Posted December 4, 2007 Share Posted December 4, 2007 Is that not the ENGLISH place your from young Fraser ??? Maybe he was at the game. 0 Quote Link to post Share on other sites More sharing options...
Gribz 919 Posted December 5, 2007 Share Posted December 5, 2007 Great 4-2 win for them last night away to West Brom though!! 0 Quote Link to post Share on other sites More sharing options...
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