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No End In Sight To The Agony Of Coventry City Supporters

Editorial | Article posted on March 12th, 2014

No End In Sight To The Agony Of Coventry City Supporters
By Ian on Mar 12, 2014 in Latest, Politics | 0 comments

Steven Pressly celebrated his first anniversary as the manager of Coventry City last Saturday. It didn’t turn out to be a particularly happy anniversary for the Sky Blues manager. His team has won just three of its twelve league matches so far in 2014 and, whilst his team sits in eleventh place in the League One table at the moment, it is only six points above the relegation places and has a distinct feeling of stutter about its form at the moment. Not, of course, that this makes a great deal of difference to the vast majority of Coventry City supporters at the moment. Just 1,637 people turned out for their last “home” match against Walsall last week, and there seems little sign that the ongoing boycott of the club’s matches in Northampton is going to break at any point this season.
Last week’s release of the annual accounts for The Sky Blue Sports & Leisure Group, the company which owns just over 90% of the shares in the Otium Entertainment Group, the company that brought Coventry City – or the two companies that made that up, at least – from administration last summer, then, don’t necessarily give us too much of an indication of what the club’s financial position might be right now, when we consider that attendances have collapsed from an average of 10,973 at The Ricoh Arena last season to just 2,287 at Sixfields this season. To some extent, what the figures for the 2012/13 season reveal is that a degree of decay had settled on the club’s financial position before the row over The Ricoh Arena even really began to get into gear.
We already knew that the average attendance last season was down 27% on the year before. The accounts show the effect that such a feeling of stasis can have on a football club’s bottom line. Turnover for the year was £6.6m, down from £10.8m in 2012, whilst losses were up, from £7,155,140 in comparison with a loss £4,003,493 over the previous year even though wages dropped to £6.96m from £9.91m for the previous year, the club made a profit of £1.65m from player sales and overheads dropped to £4.14m  from £5.35m on the previous year’s figures. A fall in attendances, turnover and commercial revenues seems to have combined to paint a gloomy picture of the club’s financial position last year. Still, at least they were filed on time this year.
That was then, though, and this is now. With crowds now having plummeted by a further 80% – only Morecambe, Dagenham & Redbridge and Accrington

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