Rumour: Hoffman and Elliot takeover negotiations

[dongonzalos]

You have made two instant replies to me that's hardly an Internet connection in Bakino Faso

It comes and goes. Shame I am wasting this moment when it ishere on you.

 

[Earlsdon_Skyblue1]

I get that. Wife dont understand this at all when i am on here. We are watching tv and i have not followed any storyline. Women are weird this is why i love men.

And why i love you..

You love me? Did you really mean that?

 

[ajsccfc]

Burkina Faso? Ouagadongo!

 

[Earlsdon_Skyblue1]

It's odd. We are in a much better situation now than the last few weeks as there is actually someone putting bids in and discussions are happening.
But I feel more depressed about it than ever. It's not going to happen is it?

I feel the same. All I can say is City Arms. It makes you forget the pain.

 

[hill83]

I feel the same. All I can say is City Arms. It makes you forget the pain.

Used to be in there every day back when I lived on Moor Street. I miss Earlsdon. And being able to go the boozer whenever I like.

 

[st john]

Hey Nick isn't an open letter just an attention seeking device, you were so sure of that earlier this week. :emoji_rolling_eyes:

Where is Nick?

 

[Colin Steins Smile]

The breach of confidentiality in this matter is shocking. However, it reinforces the image of SISU being a shabby organisation. Every business that has dealings with them, end up being alienated or sued! Why Coventry Rugby Club are even contemplating sharing their ground with these muppets is beyond me!
The lesson for anyone has to be ......don't do business with SISU as they can't be trusted

 

[KG7]

If I were Gary Hoffman I would lean more on potential funds from getting promotion back to the premier league. If he can up to 2 million and give them 40% of any premier league money if we were to get promoted and that keep the funds from player sales then we may well be in the realm of what SISU believe they are owes


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[letsallsingtogether]

Where is Nick?

Waiting for a reply from a certain Mr Reid I suspect

 

[skybluetony176]

It's odd. We are in a much better situation now than the last few weeks as there is actually someone putting bids in and discussions are happening.
But I feel more depressed about it than ever. It's not going to happen is it?

It's all happening Monday. You heard it here first (taps nose with finger).

 

[coop]

Where is Nick?

He's weighing up the latest offer with his mate Fisher.

 

[Deleted member 5849]

Except he left when he saw the way things were going. Most of us thought that Sisu were going to be good for the club. I certainly did. He obviously felt the same.

Shame he didn't speak to his contacts when accepting a place on the board then, eh.

Due diligence somewhat lacking...

 

[coop]

More to the point where is Otis.

 

[letsallsingtogether]

If I were Gary Hoffman I would lean more on potential funds from getting promotion back to the premier league. If he can up to 2 million and give them 40% of any premier league money if we were to get promoted and that keep the funds from player sales then we may well be in the realm of what SISU believe they are owes


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Sisu spent 60 million and we got religated twice, how much would you need to spend to get promoted based on that.
LOL

 

[skybluetony176]

Where is Nick?

He went on a duck shoot but got lost because someone gave him the wrong directions

 

[hill83]

Where is Nick?

Hang on. I'll set his alarm off.

SISU ARE RUBBISH

 

[covcity4life]

You love me? Did you really mean that?

I dunno actually. Kinda love italia all of a sudden recently.

 

[chiefdave]

Hoffman stated on the radio that he has said repeatedly in letters to the club that proof of funds and investor identities would be revealed in due course.

Hoffman said that Seppala has been given all these details, so more bull-shit from the SISU camp

Haven't listened yet, which one of these statements is correct. Has he or has he not provided proof of funds and details of the investors?

 

[chiefdave]

Well nothing seems confidential if the club are constantly leaking all the info to les Reid and the coventry observer. What's the point of Hoffman keeping it confidential, if he knows they will leak it hours later, he may aswell be open and honest from his side.

The leak didn't come from Reid and the Observer it came from Italia on here and I highly doubt that came via SISU.

 

[wince]

I have already spent next seasons ticket money

 

[joemercersaces]

Where is Nick?

If anyone wants to know what Nick looks like, wait until a chorus of 'stand up if you hate SISU' starts tomorrow. Nick will be the one sat on his hands.

 

[theferret]

Haven't listened yet, which one of these statements is correct. Has he or has he not provided proof of funds and details of the investors?

He hasn't provided them yet. What he said (iirc) is that he has confirmed in writing that all will be provided before anything moves forward. That will all come out during the due diligence process anyway, not sure why should a big deal is being made about it at this stage.

 

[skybluebeduff]

Hang on. I'll set his alarm off.

SISU ARE RUBBISH

 

[Grendel]

He hasn't provided them yet. What he said (iirc) is that he has confirmed in writing that all will be provided before anything moves forward. That will all come out during the due diligence process anyway, not sure why should a big deal is being made about it at this stage.

It's obviously relevant as the bid structure at the moment looks like it's more Brighthouse than John Lewis.

There has to be funds and a bid based on giving away half of all potential earnings to a seller than an out and out purchase looks very rocky.

 

[skybluetony176]

The leak didn't come from Reid and the Observer it came from Italia on here and I highly doubt that came via SISU.

I highly doubt it came directly via SISU but I've been saying for a while now that I wouldn't be surprised if SISU are taking advantage of known leaks for their own gains by feeding those known leaks with misinformation and half truths.

 

[Irish Sky Blue]

No they are not hoping the bid will fail. There isn't one person who wants that. Your "as if" is as bad as Irish Sky Blues' "It's almost like..." statement.

Saying fans want the bid to fail because they are asking questions is ridiculous.

On one hand you say we should be going through this with a fine tooth comb yet in the next breath accuse people of wanting it to fail.

Maybe we can go through it with a fine tooth comb as long as we don't ask anything controversial or question anything in case we are labelled as someone who wants the bid to fail.

I repeat: it is out of our hands. Nothing we day on here will influence the outcome.

No problems asking questions. It is the snide and sneering comments that belittle the bid that I object to.

 

[chiefdave]

All I can see in the offer is a commitment to sell players and Ryton yet the club to earn only see half of that income. What's the plan for the academy and training ground if the plan is to sell Ryton? How is the asset base going to be improved?

That worries me. Sounds like OSB was correct in his concern that Hoffman and his consortium don't have the funds themselves. We're hardly flush with money as it is, promising to give up 50% of future transfer fees and selling the training ground (where would we train?) surely has implications moving forward.

Did he mention the debts owed to SISU? Is the £1.2m for debt free CCFC?

I'm getting the impression that the £1.2m is the figure for the lot and he expects to get the club debt free for that.

So Italia said it would all happen today and it seems to. He also said it would be time to choose sides. Having just heard Gary Hofmann on the radio with details of his bid it's probably a bit hard to argue with him on that score either.

Hopefully Italia will now reveal where he got his information from.

 

[theferret]

It's obviously relevant as the bid structure at the moment looks like it's more Brighthouse than John Lewis.

There has to be funds and a bid based on giving away half of all potential earnings to a seller than an out and out purchase looks very rocky.

Of course it's relevant, it's entirely relevant, but it does not preclude a (private) acceptance of an offer in principle and moving on to the next stage of negotiation when of course that information will need to be provided. SISU can dismiss offers as 'derisory' if they choose, but to bring in the issue of proof of funds at this stage makes no sense - what does it matter if the offer has been dismissed out of hand anyway? If the offer was acceptable to them, then they'd have every right to say show me the money.

 

[Irish Sky Blue]

Any incoming board would also have to strictly manage costs, it isn't something specific to SISU, it is a fact of life. Different to SISU, I hope they'd have a coherent plan for generating income, though I suspect that will take a long time to fully implement due to the various outsourced contracts etc. The group putting money in won't have a bottomless pit, I would be rather concerned if they came in and went on a splurge but then had to significant cut costs again due to running out of money.

What did he do while on the board is probably a better question.

Okay. What did he do? Again I honestly don't know.

 

[Grendel]

Hoffman did suggest a long term arrangement with wasps at the Ricoh and "commercial" benefits they'd get.

 

[chiefdave]

Of course it's relevant, it's entirely relevant, but it does not preclude a (private) acceptance of an offer in principle and moving on to the next stage of negotiation when of course that information will need to be provided.

At the moment SISU hold all the cards so if you want to get control of the club by them isn't it best to jump through their hoops no matter how pointless? If they have the money proof of funds is easy to provide. Why not just provide it and remove another possible barrier to a takeover.

 

[skybluetony176]

Hopefully Italia will now reveal where he got his information from.

Will it help if he does?

 

[Earlsdon_Skyblue1]

Used to be in there every day back when I lived on Moor Street. I miss Earlsdon. And being able to go the boozer whenever I like.

Where are you now then?

Just went in coop and saw some c**t in a wasps shirt and obviously following a few post work beverages decided it was a good idea to call him out on it to the delight of the security guard who actually agreed with me.

Earlsdon is full of bants mate.

 

[chiefdave]

Hoffman did suggest a long term arrangement with wasps at the Ricoh and "commercial" benefits they'd get.

I only really see Hoffman as an short term owner. I don't think he has what we need to get back to our former level in the long term. Obviously a short term deal to play at the Ricoh is required otherwise we'll have nowhere to play but we would be wise to avoid blindly agreeing to anything Wasps offer.

He's already promising a big chunk of future income to SISU. If he also agrees to a deal at the Ricoh on worse terms than we are currently on thats another hit the finances take. Not to mention a potential barrier to any future takeover from someone who has the means to get us back to the PL.

 

[italiahorse]

It's a poor offer for the future of the club. More mortgaging of the club's assets

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FFS wake up and smell the coffee. Beggars belief !!!!!!!!!!!