Article Index

   Source
 2012  
1st April 2012 CCFC cease to pay rent at the Ricoh Arena under the terms of their lease & Licence. Payments taken from Escrow account. Subsequently CCFC make match day payments to complete season. CCFC Ltd. Administrator's report 
31st May  ACL Group accounts show profit of £1,086,886 and net assets of £6,594,122. No information is available as to how much ACL charged CCFC in that year for lease & licence or expenses.  ACL Accounts 2012
31st May  SBS&L accs disclose land lease payments as £1,659,021 paid although the liability contracted for is stated at £1,462,638. However it is unclear whether this relates solely to the Ricoh Arena as in the previous year there was a difference between the amount disclosed in SBS&L accs and those in the football group headed by CCFC H. SBS&L accs. 2012
May  SISU discuss purchase of Alan Edward Higgs Charity 50% Shareholding in ACL. Heads of terms agreed but no deal done
Confirmed by AEHC & Sisu
August  Ricoh Arena becomes an Olympic venue  
13th August  ACL obtains undefended judgement against CCFC Ltd for non payment of Rent  HM Courts
18th October  Arena 2001 Ltd dissolved Companies House

December  Discussions between CCC and SISU concerning Stadium ownership

CCC & Sisu confirm.
Judicial Review docs

5th December  Statutory demand issued. Granted by court. Unchallenged

 

 

 HM Courts
2013  
14th January  CCC buys out the Yorkshire Bank loan to ACL (originally £21m in June 2006) and replaces it with loan from CCC for £14.4m (interest being charged) Companies House
Judicial Review Docs
15th January  CCC takes mortgage charges over ACL and lease to secure its loan. Similar charge taken over Arena Coventry (2006) Ltd Companies House
28th January Talks between ACL and CCFC end. Whether agreement was reached in any form is disputed. Sky Blue Trust's Q&A
14th February  ACL issues Third Party debt orders against CCFC HM Courts
13th March  ACL petition for winding up of CCFC Ltd. CCFC Ltd placed in administration by ARVO Master Fund 21/03/13 HM Courts
31st March  Balance sheet value of CNR Ltd disclosed as £0 CNR 2013 Accounts
20th April  CCFC play final game at Ricoh Arena (for now?) Football League Stats
9th May  Yorkshire Bank charges over ACL + lease registered at Companies House as satisfied Companies House

2nd August  ACL reject proposed CVA for CCFC Ltd

Administrator's Report, CCFC Ltd

9th August  Judicial Review of CCC loan and other matters relating to ACL & stadium requested by ARVO, SBS&L & CCFCH. Rejected by Court but appealed and granted 28/11/13

 

2014

 

14th January  Liquidator of CCFC Ltd disclaims the lease & licence at the Ricoh Arena

Companies House

10th June 2014 given as date for Judicial Review

HM Courts
 

General notes

To date Coventry North Regeneration limited and Football Investors Limited have not received any dividend, management fee or directors fees from Arena Coventry Limited. No individual director representing these stakeholders has been paid either. 
CCC provide income contributions to CNR sufficient to cover the administrative expenses incurred (eg audit fees) typical total of annual administrative fees under 14k

Accounts filed at Companies House

 

Group Structure

 

Alan Edward Higgs Charity                                              Coventry City Council
                    |                                                                                             |
                100%                                                                                   100%
                    |                                                                                             |
  Football Investors Ltd                                                North Coventry Holdings Ltd
                    |                                                                                             |
                    |                                                                                        100%
                    |                                                                                             |
                    |                                                                 Coventry North Regeneration Ltd
                    |                                                                                             |
                 50%                                                                                       50%
                    |_______________________________________________|
                                                                 |
                                             Arena Coventry Ltd
                                              (holding company)
                    _______________________|________________________                                        Compass Group 
                    |                                                                                             |                                                    |
                100%                                                                                     77%                                             23%
                    |                                                                                             |__________________________|
                    |                                                                                             |
Arena Coventry (2006) Ltd                                               IEC Experience Limited
 (owns the stadium Lease)                                                 (operates the site)

 

 

 

Copyright © Sky Blue Trust 2014

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