is there a twist in the relegation battle....

[Strykr]

Champagne back off ice then..

 

[Strykr]

If it had been ColU Robbie would just of borrowed some money from Ron to tie him over.

Which ones peter and which ones paul?

 

[Rob1920]

lets be honest, even if only one club went down it will still be us so its all a bit accademic..

 

[TrueBlue]

lets be honest, even if only one club went down it will still be us so its all a bit accademic..

That’s speculation (not allowed) wait till we are officially down to talk about that!

 

[ColinMorrisWalksOnWater]

Don't think it was ever going to be Col U, in Cowlings interview on BBC Essex last month the big thing he kept pushing was the gamble he had taken in selling players and making sure all their bills were paid and the financial situation was solid, as opposed to many in L2, namely us for one I surmised.

 

[TrueBlue]

Colchester United Owner and Chairman Robbie Cowling has issued the following statement:
I’m making this statement in response to rumours that Colchester United are about to go into administration.
I can assure everyone that Colchester United will never go into administration whilst I am its owner and I intend to remain as the owner for the foreseeable.

 

[ColinMorrisWalksOnWater]

Reading the statement, makes me wish we had a Chairman as swift, concise and clear as that to quash a rumour. Look how long it was before we found out we were in an Embargo at the start of the season.

 

[Heinz]

Reading the statement, makes me wish we had a Chairman as swift, concise and clear as that to quash a rumour. Look how long it was before we found out we were in an Embargo at the start of the season.

Here it is in full - clear and precise

Club Statement

Colchester United Owner and Chairman Robbie Cowling has issued the following statement:

www.cu-fc.com

 

[Mick]

Colchester United Owner and Chairman Robbie Cowling has issued the following statement:
I’m making this statement in response to rumours that Colchester United are about to go into administration.
I can assure everyone that Colchester United will never go into administration whilst I am its owner and I intend to remain as the owner for the foreseeable.

Of course not. It's not the amount of club debts that matters, but who it's owed to. When club debt is predominantly owed to the owner or the owner's companies they are almost certainly not going to go into administration.

 

[rigsby]

Which ones peter and which ones paul?

For 2000 years people have been robbing Peter to pay Paul. Its about time Paul done the decent thing and gave a bit back to Peter.

Having said that, Southend fans are in no position to judge because we employed Judas

 

[Colchester and proud!]

I like the fact he has told the EFL to stick their loan now, I wonder if he swore or sent them a headbutt via email! He made another statement yesterday about that court case, he wasn’t happy with the lies told in the press about that either......Robbie owns a big area of land near his home and our training ground, the plan is to eventually build on it, the profit will clear all or most of that debt which is not all Col U debt but money owed by the whole group.

 

[Heinz]

I like the fact he has told the EFL to stick their loan now,

I like that too. Must be in a position of financial strength

He clearly makes out other clubs have taken loan -

 

[Colchester and proud!]

I like that too. Must be in a position of financial strength

He clearly makes out other clubs have taken loan -

He has a lot of personal wealth despite taking a hit because of the covid situation, he always said when he eventually leaves, the club would be in a better situation financially than when he bought it.

 

[Wingnut]

Every club is in debt ,no doubt over next few years There be a lot of clubs getting points deductions ,going to be a pub team league

 

[GDM]

So col u are £30m in debt to their owner...that’s actually news to me and worse than us...wonder why they are not revolting like we want to do??? We’ve had col u fans on this forum slagging of Ron but their guy seems worse right?
Anyway they won’t go into administration as then the chairman don’t get his money-just like us!

 

[MisterStubbs]

https://twitter.com/x/status/1380239845595955207

Oh the drama.

 

[jackj13]

https://twitter.com/x/status/1380239845595955207

Oh the drama.

Seems like they got a ticking off for suggesting the leak came from the EFL.

 

[Colchester and proud!]

So col u are £30m in debt to their owner...that’s actually news to me and worse than us...wonder why they are not revolting like we want to do??? We’ve had col u fans on this forum slagging of Ron but their guy seems worse right?
Anyway they won’t go into administration as then the chairman don’t get his money-just like us!

Most of it is a technical debt to offset tax in other parts of his many business interests, there is no issue with financial stability overall.

 

[MisterStubbs]

Seems like they got a ticking off for suggesting the leak came from the EFL.

Bringing the EFL in to distribute should result in a points deduction.. roughly 1 point from whatever total we finish with should be enough.

 

[Shrimpet steve]

There are rumours circulating around social media that colchester could be in real financial trouble!! Not sure how true this is but
them going into administration might not be too far away!!