hoffman to meet CCFC board (1 Viewer)

[Chipfat]

Sisu are hoping for co investors which is not a proposal that will work, the council and trust have openly said that dealing with Sisu is a non starter... So if Hoff wants a deal it wil have to be sole ownership as we would be no better off than the day SISU took over ,, ok may get initial investment, but without a income stream(ground) we are back to sq 1...

Please SISU go and let someone else have a run at turning this club around because by you holding out the club is dying a very slow death.. Even if by some kind of miracle we stay up this yesar, we will have the same problem next season but this time with an even younger squad.......

 

---

[valiant15]

Hopefully the sisu lickers can go with them.

 

[ericagradus]

I have to agree with oldskyble58. Having talks about a proposal, is like going to a car showroom and talking to the salesman. There is no bid on the table and I imagine that the Hoff has enough due diligence to put an offer on the table without a meeting!? Or a bid could be put forward and then negotiated after.

For me, this is SISU keeping the fans happy in the short term.

We must also remember, that if a deal is finalised, the legals will mean that the takeover is highly likely to happen after the window. The only hope for Cov fans, is that a deal is struck on the basis that no more players are sold/loaned out until the deal is done. Effectively closing the transfer window early for us.

 

[oldskyblue58]

you dont actually have to own the ground to own the income streams Chipfat. The option to do that has always been available but everyone gets hung up on the need to buy the Ricoh or exercise the option to buy 50% of the shares in ACL. De Vere do not own the hotel space at the Ricoh but they own the income stream from letting the rooms to guests. The club could franchise all sorts of income streams at the Ricoh but havent.

The council and Charity have to be open to all options.

 

[I'mARealWizard]

@TSKeysandGray
Richard Keys
For all you. Super Sky Blue fans - check out the ccfc web site this morning. Happy to accept apologies from those who abused me!!
50 minutes ago via Twitter for BlackBerry®

Haha! I can still smell the smugness from his fingers as he finished tweeting that!

 

[ajsccfc]

Wasn't the abuse because he promised they'd go public on December 23rd anyway?

 

[johnniericoh]

HOFFMAN "LETTER" - How Long Before Real Progress ???

So here we go again this time a letter (hopefully headed paper and signed) has been received/accepted by the board and promises dialogue in the future.

I suppose this will drag on for weeks/months before anything meaningful transpires - the longer it goes the more SISU will assett strip etc.

Surely all the numbers are in line and have been for some time, in business terms this is not big bucks - the package centres predominantly around the Ricoh as the epicentre of the deal and bigger more complicated takeovers have been completed in far less time than this charade of events.

So can any SBT fan give an approximate appreciation of what can and could transpire to include all the due diligenceand legal largess aspects of the 'bid' and possibly estimate a realistic time scale for completion.

PUSB (from sunny OZZ)

 

[ccfcway]

It was always going to be when we went down at the end of the season.

SISU have no interest in a championship club, let alone a League One club..

They wanted to buy somewhere cheap, invest in youth and sell at a profit or get the club up, and sell when in the premier league..

Neither of those are happening now, so it looks likely that once relegation is confirmed, they will seriously think about jumping ship.

 

[westendfence]

I have a feeling that SISU have made this statement to appease the fans, I do not believe that anything will come of it as they are not going to leave this club until they have clawed back as much as possible.
I do hope I am wrong though.....

 

[ccfcway]

funny how all of a sudden we "sign" 2 players and there is a letter communicating with the fans that they are welcoming investment.

Anyone would think there is a fans forum coming up on Thursday

 

[Skyblueweeman]

It would be interesting to hear from the council on their thoughts on Hoffman and Co and whether they've been in touch with them about their half of the Ricoh...

Or the Higgs Charity for that matter...

 

[torchomatic]

Nice attitude, youll be on the committee before you know it.

Hopefully the sisu lickers can go with them.

 

[blueflint]

fingers crossed but is it another false hope we dont need anymore of them

 

[skybluereeve]

Do we think Hoffman will Make a statement?

What do you think guys? I expect him to say nothing until some good news comes to light. Has anyone tweeted keys to see if he knows anymore???


PUSB

 

[Sub]

Coventry have agreed to hold potential takeover talks with Gary Hoffman following a formal proposal from the club's former vice-chairman.

Hoffman, a lifelong Sky Blues supporter, launched a takeover bid in August which looked to pump in around £30million into the ailing Championship outfit but the attempt failed.

Current owners SISU, who saved Coventry from administration in 2007 and again kept them afloat in early 2011, have come under increasing pressure from disgruntled supporters to sell the cash-strapped club, with around 200 holding a pre-match protest at a recent home FA Cup tie.

SISU, while looking for co-investment, have repeatedly stressed they have no intention of selling up completely although this latest development shows they are willing to hold talks with Hoffman.

Coventry chief executive Tim Fisher told the club's official website: "We have had a proposal letter from Gary Hoffman and his associates looking to discuss the future of the club.

"We have agreed to meet in the near future to talk through both their intentions and plans and to share our own plans for the future of Coventry City. We will devote appropriate time and effort to these discussions - but it will not distract us from our ongoing efforts to improve things on and off the field."

http://www.eatsleepsport.com/coventry-city/hoffman-back-on-city-scene-1371866.html

more reporting on the situation

 

[ajsccfc]

Hopefully he'll say nothing until something substantial has either happened or is confirmed as not happening.

 

[SydneySkyBlue]

People who didn't protest but followed their team, do you mean? That's inexcusable, is it?

Yes, should be saved for another thread. You could title it "the apethetic inexcusable fans who aren't as good as what I am" or something similar.

Another example of the boycotters "we're true supporters, not the other lot" attitude that pisses me off so much about the whole SOC thing.

Your attitude stinks.

There are just as many non-boycotters ridiculing boycotters as there boycotters ridiculing non-boycotters - if you follow.

As you say, everyone is entitled to their view though.

 

[procdoc]

Welcome news, still a very long way to go though. Nothing is ever simple in the world of CCFC!

 

[covkid64]

Neither Hoffman or SISU will make any statement or comment! Business transactions are conducted behind closed doors and neither party would want to do anything to put that at risk! These talks are in an early stage so we just need to leave them to it and put our trust in Hoffman to do the right thing for the club!

 

[SydneySkyBlue]

It looks like SISU might be going into these negotiations with the faint hope of co-existing with Hoffman's funds. It's an unrealistic proposition but when it comes to "haggling" I suspect both parties are as hardline as each other - hence the failure to reach an agreement before.

With SISU's future at the club looking more bleak than last time round Hoffman should have a stronger hand this time round. Here's hoping.

 

[Jack Griffin]

My take is...

1) They are talking about a transition process
2) Hoffmans backers to replace SISU, but SISU want their money back before they will leave
3) The Council will negotiate with Hoffman over the Stadium, but they won't speak to SISU

I've a feeling this will end up with SISU managing the club till it is promoted from league one, but Hoffmans guys buying out Brody in the first instance and putting sufficient money in to get promotion next year.

 

[Perryccfc]

My take is...

1) They are talking about a transition process
2) Hoffmans backers to replace SISU, but SISU want their money back before they will leave
3) The Council will negotiate with Hoffman over the Stadium, but they won't speak to SISU

I've a feeling this will end up with SISU managing the club till it is promoted from league one, but Hoffmans guys buying out Brody in the first instance and putting sufficient money in to get promotion next year.

Sorry mate but have to disagree. I can't see Hoffman working with sisu one little bit. I think if he can't buy the whole club he will simply walk away. Can't see a world where all of a sudden Hoffman and sisu work together. After everything that's gone on, I think is either GH or SISU. But just my opinion

 

[torchomatic]

Maybe so, but there,s no excuse for it on either side. I thought rich's post was well out of order and yet again shows the divide between fans which the whole SOC thing has widened rather than bringing us all together.

The post was unhelpful and unnecessary and was nothing more than an attempt to create more "them and us" divisions.

There are just as many non-boycotters ridiculing boycotters as there boycotters ridiculing non-boycotters - if you follow.

As you say, everyone is entitled to their view though.

 

[procdoc]

I can't see Hoffman and SISU co-existing, it just wouldn't work. They'll both have opposite ideas about what's best for the club and they'll end up bitching at each other in the boardroom whilst it's us fans that are suffering. It's got to be all or nothing on Hoffman's part

 

[Nathccfc]

IMO i dont think SISU will leave unless they get an offer they can't really afford to turn down, or an offer which meets their evalution (by the looks of it, it could be something extortionate) i guess we are going to have to bide our time and see what happens. i think someone mentioned earlier actually that, maybe they are waiting till the end of the transfer window; sell what they can, get some money, get some loan players in to cover the loss of the players and then bugger off as they will pocket the money. (hopefully that doesnt happen, but in a certain way i wish they would just do what they have to do and bugger off and get out! if they do sell what they can, at least if the Hoff comes in, the loan market will be open still so we can get some quality loans in to help us out. Ideal situtation would be to just sell up now, while they are ahead and if they had any heart or any connection with the club then they will do it now just so the club does have a chance of surviving and staying in this division!


PUSB-!!:claping hands:

 

[SkyBlue_Bear83]

People who didn't protest but followed their team, do you mean? That's inexcusable, is it?

Yes, should be saved for another thread. You could title it "the apethetic inexcusable fans who aren't as good as what I am" or something similar.

Another example of the boycotters "we're true supporters, not the other lot" attitude that pisses me off so much about the whole SOC thing.

Your attitude stinks.

I don't think that is the intention, maybe some fans think they are on some sort of pedestal and better supporters than other because they are actively protesting but I think Ashbyjan has made it clear on countless occasions that this isn't their viewpoint and it doesn't make you any less or more of a supporter.

 

[sky blue zam]

http://www.ccfc.co.uk/page/NewsDetail/0,,10269~2586696,00.html




:wave:

Please note the line where the word share our own plans is. Sisu just Feck off

 

[dadgad]

Increase the pressure on the Sisu numpties.

 

[wingy]

My take is...

1) They are talking about a transition process
2) Hoffmans backers to replace SISU, but SISU want their money back before they will leave
3) The Council will negotiate with Hoffman over the Stadium, but they won't speak to SISU

I've a feeling this will end up with SISU managing the club till it is promoted from league one, but Hoffmans guys buying out Brody in the first instance and putting sufficient money in to get promotion next year.

your assumption is we're down then Jack?I think there may be legs to this,can't see Hoffman opening himself up to public vilification ,if he did'nt think he could get this done ,which either means Sisu remain Devious or TF is a genuine Broker ,and Igwe is marginal with Sepala now directly involved.

 

[Skyblueloyal]

Calm down all it says that Sisu have agreed talks with Hoffman and we all know what happend there, when Sisu have signed on the bottom of the contract handing control elsewhere I will be happy but until then I just keep praying

 

[Rich]

Please note the line where the word share our own plans is. Sisu just Feck off

SISU want to share their plans for CCFC. I don't see a problem with this if their plans are to sell up and Feck off. Anyone else??

 

[sky blue zam]

The only plan they should share is to bring a sudden stop to the death of our club. I just want the divs gone

 

[Godiva]

Let's hope both parties have learned their lessons now and will conduct their talks in a constructive tone and keep anything said away from the media.

If anything comes out of this, then I think it will be some sort of corporation where Hoffmans group will become co-investor. As I have said many times, this is the most sensible solution. There's absolutely no reason why any new money should be wasted on paying out the loans - not even a fraction. New money should be put into the club with investment in new income streams as preference.

I think an agreement that put Hoffmans investors in charge of the club and sisu still at the table could work if the parties agrees to a long term plan. This plan would probably outline the necessaty of tight financial control, no overspending and keeping within the Fair Finance Play regulation.
In this scenario sisu will most certainly have learned from the days of Ranson/Hoffman and insist on having some sort of veto possibility in financial matters.

Don't dismiss that scenario due to 'hate' between Hoffaman and sisu - they both lost in their last confrontation and if they are not professional enough to smoke a peace pipe and start working for the benefit of the club, then they both deserve to keep losing ... sisu their money and Hoffman his reputation.

If their initial talks are constructive and kept secret then I hope they will invite the council to the meetings - the future of this club depends very much on the owners having a good relationship with the local community and authorities.

 

[Paxman II]

Lots of assumptions and guess work here - some more reasonable than others but certainly one thing is evident that they are going to discuss a 'takeover' or 'investment' in the club in one form or another.

So a chink of light at the end of a very dark tunnel?

No coincidence this has surfaced during the two week period the club is not involved in any games so less limelight on proceedings.

 

[Senior Vick from Alicante]

The rumour mill is doing overtime chaps. Does anyone on here believe the one about Onye being replaced on the board by Joy Sapalla? If this one turns out to be true she may have ousted Igwe from his current role due to the debacle that happend last time their was an offer on the table to buy the club. Supposition it may be but may be but if the head honcho is now involved to oversea negotiations this time, this may be the end game for SISU (however long it takes)