Why has this happened to Coventry though? Not like they are a tiny club that have spent well beyond thier means.
A lot of the blame that is being attributed towards SISU by the moronic fans of the club is being laid at the wrong place. They saved the club from administration/worse when they bought it. The real men at fault are Geoffrey Richardson and his cronies, who I'm sure came off well from the sale of the old ground (not to mention the large profits made on selling players which weren't reinvested)
How they sold the ground for the figures bandied about and then didn't have the money to pay for a decontamination exercise on the new ground (which was minuscule in the grand scheme of things) is beyond me. Someone else pays that, manages to sell off land for huge profits and then the club can't afford the stadium.
Whoever signed a contract paying £1.2m a year but getting no share of catering/parking etc also needs persuing.
The council are the main problem now, blocking the CVA because their amendment wasn't accepted. They were told on Tuesday that as it stood their proposed amendment wasn't legal and so they should come back on Friday with something that would be allowable. They refused to change a thing then rejected the CVA, costing them about £500k or so.
There's been a lot of other crap gone on, especially around ACL from the councils side of things (using tax payers money to remortgage the stadium when they couldn't meet repayments being one example) and so I would expect more things to come out of the woodwork over the next few weeks.
Also, I'd fully expect the stadium company to go into serious financial bother as well now, seeing as they've lost their main income generator. They claim that they can cope without the club, yet missing mortgage repayments and declaring £500k profit in their last accounts (when the club paid their full £1.2m) suggests otherwise.