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Re: No subject

By Gustavus3/7 11:08Fri Jul 3 11:08:17 2026In response to Re: No subject

Views: 138

Moving was a foolish thing to do. Selling the Crown Jewels. Most on here were taken in at the time because they thought we needed to move for off field income.

In fact we were 1 million in debt to Bloors before we moved - which was presented as a sponsorship deal.

Then there was a huge capital gains tax bill after selling Manor Park and the compensation payments for the two covenants. So the money ran out before we’d built a new stand.

I guess the Stadiasafe argument was there was enough cash flow to make the debt manageable. They obviously felt forced into handing the shares over.

See here

https://www.coventrytelegraph.net/news/local-news/ian-neale-defends-boro-wind-up-3096322