Andy Turner...what does he know???? (5 Viewers)

[LeamingtonBootBoy]

In a piece in the Telegraph today about Gary Hoffman, the ever-reliable Andy Turner wrote;

The frustrating thing for the fans is knowing that he had a cheque for £35million waiting to be cashed in August, and it makes you wonder where City would be in the table now had the buy-out come to fruition.

Read More http://www.coventrytelegraph.net/co...-with-investors-92746-29861851/#ixzz1f7s4iOzj​

Is this actually true??

Did the Hoff offer £35m to SISU in the Summer?

If so, then I find it amazing that SISU did not accept the offer...I thought they turned down an offer of £1?

Or is this more 'off the cuff' journalism from 'Scoop' Turner????:thinking about:

 

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[Moff]

In a piece in the Telegraph today about Gary Hoffman, the ever-reliable Andy Turner wrote;

The frustrating thing for the fans is knowing that he had a cheque for £35million waiting to be cashed in August, and it makes you wonder where City would be in the table now had the buy-out come to fruition.

Read More http://www.coventrytelegraph.net/co...-with-investors-92746-29861851/#ixzz1f7s4iOzj​

Is this actually true??

Did the Hoff offer £35m to SISU in the Summer?

If so, then I find it amazing that SISU did not accept the offer...I thought they turned down an offer of £1?

Or is this more 'off the cuff' journalism from 'Scoop' Turner????:thinking about:

I believe Turner is more in the loop than originally believed, as it suits Hoffman to have the Telegraphs ear.

By feeding information to the paper, Hoffman keeps them on his side, and with the poor relations the club have with our idiot Chairman, it is no wonder they work well together, with Hoffman releasing this information to the paper in return for positive press.

Seems intelligent PR on Hoffmans part to me.

 

[Tonylinc]

It also idicates to me that The Telegraph believes that GH will eventually suceed in his quest.

 

[Otis]

Isn't the 35 mill to spend on the club once control was though rather than as forming some part of the bid amount. The 35 mill would be to put in the club, but they would buy the club for a quid as it's worth nowt!

 

[shmmeee]

Isn't the 35 mill to spend on the club once control was though rather than as forming some part of the bid amount. The 35 mill would be to put in the club, but they would buy the club for a quid as it's worth nowt!

That's how I read it too.

 

[sw88]

Yh i thought the offer was £1 which SISU can walk away with straight away, and then the new consortium would spend £35m to invest.

 

[Colonel Mustard]

You're better off looking to the Mirror for CCFC scoops than our local newspaper.

 

[AFCCOVENTRY]

What a terrible article based on what?

He needs to stop reading the bbs and creating articles on rumour.

 

[TheParsonsHose]

He needs to keep in work though. Perhaps they have a random CCFC news generator at the CET?

 

[oldskyblue58]

funny how things lack clarity over time ..... especially in the CT

GH offered £1 for the shares and a promise to SISU to pay them some more if the team became successful in promotion to the premiership

the £30m was to be spent paying debts £10m player fund £10m and £10m on purchasing half the shares in ACL

Just one or two small flies in the ointment. The offer was never going to be acceptable to SISU, anyone with a small amount of financial knowledge knew that - so was this great offer actually ever credible? Secondly did it fulfill criteria for the shareholders in ACL in respect of proof of funds, planned future investment, or ensuring future viability (financial safety) of the arena - why would anyone invest £10m in the shares for no return for years to come, could money be better used by the club ? Does GH have the Charity & Council on side with what he is offering or is it just talk, because any successful bid has to include the stadium (ACL). Surely there is enough financial nous in potential bidders to understand this, if not you have to worry about the credibility or likelyhood of it happening.

Just joining the dots together and thinking out loud. Seems to be a lot of talk (hot air) precious little substance surrounding CCFC and the reports in the press

Obviously it is PR for GH but is it all good PR? Keeps his name there yes but increases the sense of frustration that nothing is being done.

Rather pointless article by Mr Turner I am afraid

 

[Godiva]

funny how things lack clarity over time ..... especially in the CT

GH offered £1 for the shares and a promise to SISU to pay them some more if the team became successful in promotion to the premiership

the £30m was to be spent paying debts £10m player fund £10m and £10m on purchasing half the shares in ACL

Just one or two small flies in the ointment. The offer was never going to be acceptable to SISU, anyone with a small amount of financial knowledge knew that - so was this great offer actually ever credible? Secondly did it fulfill criteria for the shareholders in ACL in respect of proof of funds, planned future investment, or ensuring future viability (financial safety) of the arena - why would anyone invest £10m in the shares for no return for years to come, could money be better used by the club ? Surely there is enough financial nous in potential bidders to understand this, if not you have to worry about the credibility or likelyhood of it happening.

Can I add another thing we have discussed many times ... Even if an offer was creditable enough to get accepted, and there should be £10m to inject into the team, what will be the consequences? Unless the club gains immidiate promotion to PL we'll face 1) Even greater yearly losses and 2) penalties from the upcoming fair financial regulation.
With that in mind, how many investors would be willing to place that bet? And for how long will they accept yearly losses? How do we react when they start cutting costs and sell off the highest earners and best prospects?

Just joining the dots together and thinking out loud. Seems to be a lot of talk (hot air) precious little substance surrounding CCFC and the reports in the press

Rather pointless article by Mr Turner I am afraid

Why is the CT printing the article? Who are they serving? Who is feeding them information?

 

[shmmeee]

Can I add another thing we have discussed many times ... Even if an offer was creditable enough to get accepted, and there should be £10m to inject into the team, what will be the consequences? Unless the club gains immidiate promotion to PL we'll face 1) Even greater yearly losses and 2) penalties from the upcoming fair financial regulation.
With that in mind, how many investors would be willing to place that bet? And for how long will they accept yearly losses? How do we react when they start cutting costs and sell off the highest earners and best prospects?




Why is the CT printing the article? Who are they serving? Who is feeding them information?

I respect your opinion Godiva, but the two points you raise aren't valid IMO.

The financial fair play rules are a joke. There's a million ways around them. Off the top of my head:

- sell "premier seats" to board members for several million a season.
- sell "lifetime memberships", etc.

What it stops ironically is the exact behaviour SISU have undertaken with owners lending money and expecting it back. Under this model losses really are losses and owners would have to make money by the club making money.

Secondly this idea that spending is a risk but cutting isn't is a total fallacy. We are currently gambling on not going down, not losing fans, etc.

Just like the current government, the current board don't realise that by making such drastic cuts we harm our incomings as much or more than we cut our outgoings and find ourselves in a worse position to break even long term.

Any owner needs to focus on building the fan base and with it building income. While that's neglected the club will die.

 

[EleanorRigby]

The £30 million to be pumped into the club was for real and was an initial amount which indicates to me there is a possibilty of more sometime in the future all being well.
There are a few in the know Turner will be one and drips things out now and again. Hoffman will not buy the club or his associates. SISU have f***ed up basically and wasted there so called 30mill investment and Hoffman won't be baleing them out. It will be SISU who make the decision to go or lose more money. Administration ? maybe, but the only losers there financially are SISU and on a football front us the fans having to watch third division football again after 48 years

 

[Bennets Afro]

SISU won't lose money. The money they have put in comes from investors and SISU just manage the fund and get paid for it!!!

 

[EleanorRigby]

SISU won't lose money. The money they have put in comes from investors and SISU just manage the fund and get paid for it!!!

But there would have been guarantees to attract investment, this is where i think SISU could get their hands burnt and why they are trying to get money off Hoffman and also why Hoffman has took a step backwards.

 

[Nonleagueherewecome]

I respect your opinion Godiva, but the two points you raise aren't valid IMO.

The financial fair play rules are a joke. There's a million ways around them. Off the top of my head:

- sell "premier seats" to board members for several million a season.
- sell "lifetime memberships", etc.

What it stops ironically is the exact behaviour SISU have undertaken with owners lending money and expecting it back. Under this model losses really are losses and owners would have to make money by the club making money.

Secondly this idea that spending is a risk but cutting isn't is a total fallacy. We are currently gambling on not going down, not losing fans, etc.

Just like the current government, the current board don't realise that by making such drastic cuts we harm our incomings as much or more than we cut our outgoings and find ourselves in a worse position to break even long term.

Any owner needs to focus on building the fan base and with it building income. While that's neglected the club will die.

Spot on. I like the "losses are really losses, not loans" point; pretty much what I was saying in the thread about the club statement. I'm glad somebody else can see it from this perspective.