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Coventry City statement on Gary Hoffman takeover offer (5 Viewers)

  • Thread starter The CableGuy
  • Start date Aug 23, 2011
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odysseus

Guest
  • Aug 24, 2011
  • #36
Rich said:
Does it not sound like an almost done deal? Hoff hasn't revealed his full hand yet, but the investors are there. At no point has the board stated that they are not happy with the "offer". They just want to be sure that the people they are selling too has the cash. For once it would seem they are working in the interests of us and our club instead of their own pockets.
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Was suprised that the offer wasn't dismissed out of hand. Its definitely a promising sign that proof of finance is being sort. I bought and a few years later sold a catering business (small scale) but on both occasions the buyers had to prove finance during the process. Still, I get the feeling that their will be many twists and turns before this is done. SISU aren't going to walk away from their investments quietly.
 

We'll_live_and_die

Super Moderator
  • Aug 24, 2011
  • #37
odysseus said:
Was suprised that the offer wasn't dismissed out of hand. Its definitely a promising sign that proof of finance is being sort. I bought and a few years later sold a catering business (small scale) but on both occasions the buyers had to prove finance during the process. Still, I get the feeling that their will be many twists and turns before this is done. SISU aren't going to walk away from their investments quietly.
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Unless they get an offer that is acceptable after months of discussions of course. Just so everyone knows Hoff haas been talking to SISU for quite some time if we recall. The discussions could be quite advanced, on the other hand we don't know and this could be just the start.
 
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LuckyGMan

New Member
  • Aug 24, 2011
  • #38
I'm sure due to money laundering regulations not only do you need to prove where the money is coming from but also who it is coming from.
 

We'll_live_and_die

Super Moderator
  • Aug 24, 2011
  • #39
LuckyGMan said:
I'm sure due to money laundering regulations not only do you need to prove where the money is coming from but also who it is coming from.
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Correct, which is what stage they are at now. One would think this would be the stage after accepting an offer, such as when buying a house.
 

Sterling Archer

Well-Known Member
  • Aug 24, 2011
  • #40
We are months away from a deal lads. People need to get it out of their head that this will go through within the week and Thorn will have X amount of cash to spend before the transfer deadline. It simply isn't going to happen that way.
 

We'll_live_and_die

Super Moderator
  • Aug 24, 2011
  • #41
Sterling Archer said:
We are months away from a deal lads. People need to get it out of their head that this will go through within the week and Thorn will have X amount of cash to spend before the transfer deadline. It simply isn't going to happen that way.
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You must have inside info to know what stage the negotiations are at?

If you didn't know for certain you would say "I personally think we are months away from a deal lads".

Lest not forget that Hoffman has been talking to SISU (we think) for quite some time already.
 

Sterling Archer

Well-Known Member
  • Aug 24, 2011
  • #42
Rich said:
You must have inside info to know what stage the negotiations are at?

If you didn't know for certain you would say "I personally think we are months away from a deal lads".

Lest not forget that Hoffman has been talking to SISU (we think) for quite some time already.
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Not really, just using common sense. In all the years of footballing takeovers never has one been completed so quickly.
 

We'll_live_and_die

Super Moderator
  • Aug 24, 2011
  • #43
When did Hoff first talk to/enquire about buying the club from SISU? I have an idea it was a couple of months ago.

On another point how long did it take SISU to take over the club?
 
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LuckyGMan

New Member
  • Aug 24, 2011
  • #44
Rich said:
Correct, which is what stage they are at now. One would think this would be the stage after accepting an offer, such as when buying a house.
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They are miles away yet.
Heads of terms (which is a working document I believe outlining the stages of purchase) are probably no where near being drawn up. This needs to be signed by both parties from my limited experience. This can take a while and this is only a guide to the transaction.
Then the fun begins. Changes from each side, back and forth negotiations , due dilligence, Solicitor delays, buyer delays, seller delays, money delays, discussions with Higgs Trust and the council (I would imagine that this would be an important part of the purchasers intentions).
This IMHO will take months.
 

kg82

Well-Known Member
  • Aug 24, 2011
  • #45
Rich said:
When did Hoff first talk to/enquire about buying the club from SISU? I have an idea it was a couple of months ago.

On another point how long did it take SISU to take over the club?
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You're not suggesting this could be done earlier than people on here in the know would suggest are you?! HERESY!!
 

We'll_live_and_die

Super Moderator
  • Aug 24, 2011
  • #46
kg82 said:
You're not suggesting this could be done earlier than people on here in the know would suggest are you?! HERESY!!
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Nope I take anything OSB says as gospel and he han't commented on the time the transaction may take.
 

kg82

Well-Known Member
  • Aug 24, 2011
  • #47
Rich said:
Nope I take anything OSB says as gospel and he han't commented on the time the transaction may take.
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But there's others on here who seem to be directly involved in the deal!!
 

We'll_live_and_die

Super Moderator
  • Aug 24, 2011
  • #48
kg82 said:
But there's others on here who seem to be directly involved in the deal!!
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Or possibly think they are.
 

kg82

Well-Known Member
  • Aug 24, 2011
  • #49
I have to ask Rich, what's with the pic of Gunnar in a Cardiff shirt as your avatar?!
 

We'll_live_and_die

Super Moderator
  • Aug 24, 2011
  • #50
If it wasn't for SISU then he would still be here imo. It's better to have loved and lost than never to have loved at all. He still plays for CCFC after all :claping hands:
 
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procdoc

Well-Known Member
  • Aug 24, 2011
  • #51
Sterling Archer said:
Not really, just using common sense. In all the years of footballing takeovers never has one been completed so quickly.
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the recent QPR takeover went through quite quickly
 
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LuckyGMan

New Member
  • Aug 24, 2011
  • #52
procdoc said:
the recent QPR takeover went through quite quickly
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Yeah....very similar deals..
 

RegTheDonk

Well-Known Member
  • Aug 24, 2011
  • #53
SISU do not care about the club, its simple business and money to them.

The only reason why they want to know who the investers are it to tap them up directlyand cut Hoff out of any deal. That way they retain control, have a few bob for players to keep us sweet, but more importantly get someone else to help them keep the metre running and buy into the stadium.

Is a business, not a charity unfortunately.
 

ccfcway

Well-Known Member
  • Aug 24, 2011
  • #54
so, picture the scene...

You pay £30 for a pair of trainers...

Wear them a few times and realise that they dont look cool...

Someone offers you 50p for them, but sod it, you paid £30, you might as well use them in the garden

think that clears things up !
 

skybluesben

New Member
  • Aug 24, 2011
  • #55
Lets hope we can still protest at the Derby game or its gonna be very boring....
 

CovLis86

Well-Known Member
  • Aug 24, 2011
  • #56
ccfcway said:
so, picture the scene...

You pay £30 for a pair of trainers...

Wear them a few times and realise that they dont look cool...

Someone offers you 50p for them, but sod it, you paid £30, you might as well use them in the garden

think that clears things up !
Click to expand...

Not the same at all.

Its more like:

You pay £1 for a pair of new trainers in a special offer, however every month you have to pay another £5 on top to keep them. Youve grown sick and tired of the trainers now, and have already sold the laces to anybody who would have them. Now someone has come in and said they will buy the trainers off you for the original price of £1 that you paid. They are happy to pay the extra £5 a month for now.

Why wouldnt you sell them, when you dont even like them any more?
 

Ernie Machin

New Member
  • Aug 24, 2011
  • #57
So what you're saying is, CCFC are a pair of Simod* trainers?


*one for the teenagers.
 

ajsccfc

Well-Known Member
  • Aug 24, 2011
  • #58
Goes against people always saying the Ricoh is soleless.
 

coundonskyblue

New Member
  • Aug 24, 2011
  • #59
I wonder why they've put the takeover story back as the main headline on the official?

http://www.ccfc.co.uk/page/Home
 
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