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Hedge-fund owner has destroyed the 7th biggest city in England, i hate you SISU.

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posted on Dec, 20 2013 @ 05:05 PM
Let me start by telling you this is Football/Soccer related, but it stems more than that, much deeper than sport.

In the middle of English football's greatest ever boom, a proud club is being publicly strangled, and those who run the game are accused of being no more use than bystanders.

Coventry City

Coventry City Football Club is an English association football club representing Coventry, central England, but currently playing home games at Northampton, some 34 miles (55 km) to the southeast of the city.
The team competes in League One, the third tier of the English football league system.
Nicknamed the Sky Blues owing to the colour of their strip, Coventry City were formed in 1883 as Singers F.C., and they joined the Football League in 1919.
Their only major trophy was won in 1987 when they beat Tottenham Hotspur 3–2 to win the FA Cup in a match listed by the FA as one of the twelve classic FA Cup Finals.
They also reached two League Cup semi-finals, in 1981 and 1990.
The club was an inaugural member of the Premier League in 1992 and had spent an impressive 34 consecutive seasons in the English top flight before being relegated in 2001.
Following eleven seasons in the second-tier Football League Championship without any significant success, Coventry were relegated to Football League One in 2012, the first time in 48 years that the club played in the English league system's third tier.

We were formed in 1883 by workers at Singers' cycle factory, are owned 130 years later by SISU Capital Limited , a hedge fund specializing in "distressed debt", using money from unnamed sources via the Cayman Islands.

A quick brief article from The Guardian will show you only just a tiny inkling of what we're dealing with.

Here you will find so many crazy stories of how a corrupt hedge fund has ruined not only a football team, but a whole city of businesses who relied on the matchday income of so many thousands of people, once or twice week.

It's really hard to start from the beginning, and it's also really heartbreaking for me to piece all this together so you can understand my rant.

We've been in court because of our owners countless of times and we're going through judicial reviews and all sorts.
Judical review
We have a £113mill pound stadium 32,000 seater which has been deserted since May this year due to our owners not paying rent.

Here's a nice article from the BBC because they care for us. Why Coventry Take More Fans Away From Home.

The owners released today plans for a new stadium outside the Coventry area BBC link To New Stadium Plans, we already have one which i miss so much, look at her shes beautiful and she wants her children home!

The story of the plight of Coventry City is due to inept owners over the past past decade or two, the story of the plight of Coventry City fans is far more sickening than football itself. We deserve better!! We deserve so much much better than this!! Please SISU leave my club, I would rather we liquidate now and be non-existent then carry on this playground charade of suffering which you torment us with.

I'll leave you with a song that over 20,000 cannot sing any longer until they bring our club home.

"Always sing together, play up skyblues
and whilst we sing together, we will never lose"

Oh and maybe a song from my local band too:

posted on Dec, 20 2013 @ 05:27 PM
reply to post by skyblueworld

I hear you.
There is some really Low Class operations being conducted by
the Speculators. They are sociopaths.
I saw a film about a British Soccer Team.
It was excellent. The new management canned the "old guy"
in a venture capitalist scheme/power grab.
In the end, they begged him for forgiveness and to rejoin
the management. They went on to set records in Soccer history.
It was based on a true story. I wish I knew the name of the film
to share with you.

Cheers! S&F

posted on Dec, 20 2013 @ 09:14 PM
That's football these days I don't understand the angle these investors have. If you piss off the fans you will lose money. Look at Tan at Cardiff its as if he wants to be hated. I weep for the modern game and what it will become. I predict a massive crash and hopefully a return to grass roots. The money has went insane, paying someone that can hardly read £200 grand a week is insane. The only thing that can save football is fan ownership and wage caps across the board.

posted on Dec, 20 2013 @ 11:33 PM
And yet the owners are still extremely wealthy.

I was at the game at Villa Park all those years ago when we sent you down. Paul Merton scored a screamer and we came back from 2-0 down at half time.

It is sad to see what has happened to a local club. Birmingham City are worryingly close to being run into the ground.

Clubs should be protected, but nothing will change until there is a sensible wage cap put on players and staff at clubs and rules protecting a clubs finances are brought in.

Even as a Villa fan I want my local rivals to survive.

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