Fisher rejects Hoffman offer (1 Viewer)

[DazzleTommyDazzle]

is it just me ..but the way i read it ..is that he will pay the rent up front ,and then take it back out of gate receipts at a reasonable charge..how do we benefit!! sisu have said on numerous occasions they are not coming back until they have access to food and beverage revenues..

dont get me wrong sisu piss me off as much as anyone else ..but this is just another empty offer

No, it's just you!

Try reading it again. SISU/Ptium get to keep half of the "surplus". Part is taken from the other half to cover financing costs and the balance goes to the academy.

It's a no lose deal for SISU/Otium - unless what they really want is to distress ACL.....

 

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[dongonzalos]

I don't understand how you can be sure if that.
When there policy never seems to be to buy anything for the market value?

Free shares anyone......

 

[dongonzalos]

What will happen if ACL find a viable alternative use......

Huge gamble with the future of our club

 

[DaleM]

is it just me ..but the way i read it ..is that he will pay the rent up front ,and then take it back out of gate receipts at a reasonable charge..how do we benefit!! sisu have said on numerous occasions they are not coming back until they have access to food and beverage revenues..
dont get me wrong sisu piss me off as much as anyone else ..but this is just another empty offer

They have to sell a serious amount of pies and beer just to break even with 10000 fans at the Ricoh. I think , and I may be wrong , someone on here has said F& B profit is only about 100 grand per season from the football matches. It is a miniscule amount in the grand scheme of things along with the rent(10% of total debt in five years)
When are the few who still believe it's all about the rent and F&B revenue going to wake up and realise that SISU are using these arguments as a smokescreen. I don't profess to know what their plan is but it seems to me they must have another motive. They are treating CCFC as a cash cow IMO.

 

[Senior Vick from Alicante]

Look at the bigger picture people, this has always been a land grab and not about the club, CCFC is being used as a lever by SISU to gain what they want. What this does mean is that ACL can now reject the CVA, Appleton as the administrator would still be running the club but even he would be stupid not to accept Hoffmans offer. The club stays in the Ricoh and we will have 3 years to sort the rest out through mediation sale or the courts, think he's pulled a blinder here. PUSB

 

[Hackneyskyblue]

Surely with a new owner the original agreements with ACL are now null and void so a new rental deal can be done and paid for by hoffman saving the club the upfront costs. would it not also mean the food and drink agreements could be renegotiated or is that a total nonstarter?

I doubt Hoffman thought SISU would take up his offer its just another ploy to make SISU look worse (if thats possible).

It does mean that the Football League really can't ignore this option for us to stay but once again i am sure they will.

 

[cloughie]

So if you are a serious Cov fan......would you take CCFC to play in Northampton where you are paying to use the ground when you can use the Ricoh until a ground is built? All profits to go to the academy that you also own. Or do you really want the Ricoh for nothing?

exactly how any one can argue that sisu will be better off at Northampton than the ricoh with this offer is beyond belief

 

[dongonzalos]

This needs to go to the FL
MP's and supporters direct.
To reject it immediately.
Does not support the portrayal of someone who wants to do everything to stay in Coventry. However is moving as they have no other option!

 

[Sky Blue Pete]

Have sent my email once again to the football league making exactly that point!!

Not expecting an answer let alone contact from them to Sisu/Otium advising them to accept it!

On another note I can't believe that they keep referring to Otium as separate to CCFC Ltd etc etc - Beggars belief!

 

[italiahorse]

Okay without looking at this offer in a biase way and slandering Tim Fisher for not keeping us in Coventry (Yet) did Hoffman mention what/if revenue's such as F&B, etc were included in the deal? (I assume not) Not that this is a huge amount I am sure per game, but we have already heard Timmy say that it's because they want to maximise there revenue (Which I understand) that they will look at somewhere else...

He wont be getting F&B at Northampton

 

[CCFCSteve]

I reckon if they agree to throw in all of the pie and burger money it will surely be a done deal !

That extra £5k-£10k per game will make all the difference

 

[ajsccfc]

If we ever do return to the Ricoh and everything is rosey again and as it should be, I'd like to keep that stand at Tesco. You can catch shoppers who'd otherwise not bother traipsing across to the stadium, and lazy folk particularly like me.

 

[torchomatic]

Oh, you missed off the football league.

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[fernandopartridge]

The problem is that if ACL are earning out of this SISU's plans are fucked.

 

[duffer]

The temporary groundshare was necessary because time ran out.
I am sure SISU were a willing buyer for the arena and would have paid a substatial price for it (say £50m) - (original cost less Tesco land sale less grants) rather than build a new stadium.
But the council would not sell it!

imp:

SISU have never been a willing buyer for the arena. They could have had 50% of ACL for around £6.5m, had they kept their deal with the Higgs Trust.

Their whole plan has been to distress ACL and pick the arena up for nothing, or as near to it as they could get. The latest stuff, where they won't even play there for nothing, proves that.

 

[dongonzalos]

The problem is that if ACL are earning out of this SISU's plans are fucked.

The problem for Mr Fisher is. He completely denies that that is their plan. He no doubt will have expressed that this is not the case to the FL.

He would also have had to tell the FL he did not want to do this but has no other option

 

[ohitsaidwalker king power]

Oh, you missed off the football league.

I Don't do twitter... emails sent to circ list as provided

 

[James Smith]

The problem is that if ACL are earning out of this SISU's plans are fucked.

Is this a problem for anyone on here? Or is it just one for SISU as I can't imagine ACL would say no?

 

[Sisued]

If I were acl I'd put together a ccfc day for every home game. Get in some guest speakers for before the game maybe even arrange some old boys exhibition matches. Play the game feed over the tannoy. Open the bars and food charge a fiver to come in. Fans get to protest, arena gets cash, sisu get fuck all

 

[Jack Griffin]

This needs to go to the FL
MP's and supporters direct.
To reject it immediately.
Does not support the portrayal of someone who wants to do everything to stay in Coventry. However is moving as they have no other option!

They've always had other options, instead they chose to disrespect their customers.

 

[ajsccfc]

If you're contacting the Guardian, I'd go for The Fiver ahead of their general letters address. Captive football audience and far more likely to include it as a story on their email too (if only to pad out their word count).

[email protected]

http://www.guardian.co.uk/football/series/thefiver

 

[grego_gee]

I may be reading between the lines here and be way off the mark but this seems to suggest to me that its SISU's end game to drive ACL out of business and acquire the Ricoh on the cheap. Until ACL are bankrupt or insolvent, we'll play at Northampton. SISU play a waiting game as ACL gets weaker and weaker and struggles financially more and more.

I honestly don't think SISU want to move the club out of Coventry permanently, it just doesn't make any sense whatsoever. I see this all as a ploy for them to find a legal loophole of getting ownership of the Ricoh dirt cheap. Its the dirtiest of business tactics and pretty ruthless and of course screws us fans over for the present.

The FL surely should see through this charade and block it, especially in this 125 year anniversary of the FL of which they are claiming is all about the fans?

I agree with you I don't think they want to move out at all - they have been forced out to fulfill the fixtures!
But I don't think that they are interested in geting ACL's interest in the Arena (any more).
ACL don't own the freehold of the Arena, they only have 45 years remaining of a 50 year lease.
Even if ACL went into administration SISU would still have to bid for it and pay something, lets say they might get it for £20m
I think SISU's thinking has now gone beyond this. They really want a permanent home!

They would prefer the option of building a Rochdale like stadium of their own for £30m+ rather than pay £20m for a 50year lease and then have to negotiate again with the council at the end of it!

imp:

 

[DazzleTommyDazzle]

I agree with you I don't think they want to move out at all - they have been forced out to fulfill the fixtures!

There are none so blind as those who will not see.

 

[rupert_bear]

This Hoffman offer will gain massive legs nationwide. The national papers and national media will all report it and sisu rejecting it will put massive pressure on first the FL and also the FA who oversee football in this country and are definitely in the sights of Government legislation. As said ACL rejecting the cva proposals puts Appleton on the spot too. I wonder in time to come a film will be made of all this

 

[DazzleTommyDazzle]

This Hoffman offer will gain massive legs nationwide. The national papers and national media will all report it and sisu rejecting it will put massive pressure on first the FL and also the FA who oversee football in this country and are definitely in the sights of Government legislation. As said ACL rejecting the cva proposals puts Appleton on the spot too. I wonder in time to come a film will be made of all this

Who do you reckon would play Timmy?

 

[Nonleagueherewecome]

Who do you reckon would play Timmy?

Whoever played Jabba The Hutt.

Boonowa tweepi, ha, ha

 

[James Smith]

This Hoffman offer will gain massive legs nationwide. The national papers and national media will all report it and sisu rejecting it will put massive pressure on first the FL and also the FA who oversee football in this country and are definitely in the sights of Government legislation. As said ACL rejecting the cva proposals puts Appleton on the spot too. I wonder in time to come a film will be made of all this

CCFC The Movie

 

[Grendel]

This Hoffman offer will gain massive legs nationwide. The national papers and national media will all report it and sisu rejecting it will put massive pressure on first the FL and also the FA who oversee football in this country and are definitely in the sights of Government legislation. As said ACL rejecting the cva proposals puts Appleton on the spot too. I wonder in time to come a film will be made of all this

It wil get very little attention.

I don't really understand the offer. Is he paying it himself or is it through a third party or have the funds to be secured?

 

[wingy]

It wil get very little attention.

I don't really understand the offer. Is he paying it himself or is it through a third party or have the funds to be secured?

I don't think it really stands up as surely they would be better off doing there own deal ,It does expose that point though.

 

[DazzleTommyDazzle]

It wil get very little attention.

I don't really understand the offer. Is he paying it himself or is it through a third party or have the funds to be secured?

The quote says that he will raise the money.

 

[rupert_bear]

It wil get very little attention.

I don't really understand the offer. Is he paying it himself or is it through a third party or have the funds to be secured?

I think I will back Hoffman on this one, being a top level banker (spelt with a B) when it comes to big finance i am confident he will know how to do it.

 

[DazzleTommyDazzle]

I don't think it really stands up as surely they would be better off doing there own deal ,It does expose that point though.

I think that that's probably the point.

It exposes the whole SISU plan as the total nonsense that we've been saying.

It also puts the FL on the spot - with their "we had to approve it to allow the fixtures to go ahead" attempt to duck the blame.

 

[Sisued]

The trust have just posted an interesting article. I'm on my phone and can't link it

 

[hill83]

Trust Response to Hoffman Ricoh Offer

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Following today's Coventry Telegraph story reporting Gary Hoffman's offer to pay the rent at the Ricoh Arena for the next 3 seasons in a move to ensure Coventry City remains in Coventry, The Sky Blue Trust have been in contact with the Football League who confirmed that they have seen this and that it has been passed on to the relevant members of the Football League Board.

They also added that the reason the board took the decision to sanction the move to Northampton was because they believed they had a stark choice - allow the club to play at Northampton or have nowhere to play.

We dispute that this is the case and have demanded to meet urgently with those that actually made this decision. We have been advised that it is not too late for this decision to be reversed as the decision made was that Coventry can play at Northampton, not that they must play at Northampton. If we can prove a better alternative exists the board may then reconsider.

We will therefore be making these representations and hope to meet with the Football League board at the earliest opportunity. We will keep you updated of any developments.


http://www.skybluetrust.co.uk/index...ews/275-trust-response-to-hoffman-ricoh-offer

 

[Astute]

It wil get very little attention.

I don't really understand the offer. Is he paying it himself or is it through a third party or have the funds to be secured?

Wake up. This isn't a SISU deal :blue: