I hope that's a secret sign from Joy things are getting closer.3rd bid was rejected but not immediately
Most worrying was:The third bid which includes Ryton appears reasonable.
That is than can be said of our current owners.
I wonder what the one line rejection was? Probably contained the phrase "strong and stable". Fuck off sisu
But what are they bidding for?I wonder if SISU are rejecting these bids in the hope it will spark interest from other parties in order to start some sort of bidding war?
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The self fullfilling prophecy. It will only continue going down, less season tickets mean poorer players which means continued struggle. I hope something genuinely bad happens to joy and dermots business empire so they can get a taste of what we sre going through, be great to see bailiffs knocking their door. TWATS.We are not selling at the bottom of the cycle......
latest on third bid
Coventry City: Gary Hoffman consortium has third offer rejected (sorry missed the earlier link being put up)
Frankly it doesn't come close to what I think she is after
I said on another thread that she could well like a deal worth around 20m but it is the amount of cash upfront that swings it 2m is nowhere close.
I would think she is looking for something like 4 or 5 times that plus Ryton. There is of course other factors to take in to account on the Ryton transfer of ownership. Like tax on the disposal and who pays it or whether there is already an option on it (ie already sold). In which case the value of it in GH's bid is nil
latest on third bid
Coventry City: Gary Hoffman consortium has third offer rejected (sorry missed the earlier link being put up)
Frankly it doesn't come close to what I think she is after
I said on another thread that she could well like a deal worth around 20m but it is the amount of cash upfront that swings it 2m is nowhere close.
I would think she is looking for something like 4 or 5 times that plus Ryton. There is of course other factors to take in to account on the Ryton transfer of ownership. Like tax on the disposal and who pays it or whether there is already an option on it (ie already sold). In which case the value of it in GH's bid is nil
"Following the rejection, members of the consortium have offered to meet with Joy Seppala to see if we can have constructive discussions to bridge the gap between her expectations and our offer.
"Several requests for meetings and phone calls have received no response. So, we just wanted to let fans know that we see no point in putting a further offer in when we have no idea as to what SISU will sell for.
"We thought we had made a significant and generous offer which would also have safeguarded a long term home for Coventry City in the City of Coventry."
Season ticket
He added: "I love watching the Sky Blues but will not be renewing my box and season tickets unless and until we have been able to have a constructive dialogue.
What SISU paid for it day one is not relevant at all. It is a nice line from GH to get fans support and indignation nothing more. The only figure that is important is what will she accept to go. That has nothing to do with what assets there are or what loans written off either. The assets or the net assets of the club will not cover the amount paid to purchase, not even close.
They will only sell at a lower figure if they need to sell.............. I see no evidence at all that SISU need to sell.
The price will revolve around settling out ARVO in a reasonably guaranteed and tangible way. ARVO are owed £8m in capital plus over £4m in interest (to 31/05/16 alone) and put in over £16m in to Otium
Should GH make a 4th or 5th bid? My advice would be no, not at the moment. To repeatedly make small increments serves no purpose and in some senses weakens the position of the consortium. If I were Seppala (god forbid) then I might well be thinking that GH & co really do not have significant funds to make offer & then to provide working capital. The working capital bit is important because the ability to fund influences how secure the seller might feel about getting paid the add ons should they materialise.
Sorry but in my opinion this is just not going to happen
There could be another scenario at play here, rather like the Cold War times, we just don't understand the people who own us and that is deliberate and suits their purpose.What SISU paid for it day one is not relevant at all. It is a nice line from GH to get fans support and indignation nothing more. The only figure that is important is what will she accept to go. That has nothing to do with what assets there are or what loans written off either. The assets or the net assets of the club will not cover the amount paid to purchase, not even close.
They will only sell at a lower figure if they need to sell.............. I see no evidence at all that SISU need to sell.
The price will revolve around settling out ARVO in a reasonably guaranteed and tangible way. ARVO are owed £8m in capital plus over £4m in interest (to 31/05/16 alone) and put in over £16m in to Otium
Should GH make a 4th or 5th bid? My advice would be no, not at the moment. To repeatedly make small increments serves no purpose and in some senses weakens the position of the consortium. If I were Seppala (god forbid) then I might well be thinking that GH & co really do not have significant funds to make offer & then to provide working capital. The working capital bit is important because the ability to fund influences how secure the seller might feel about getting paid the add ons should they materialise.
Sorry but in my opinion this is just not going to happen
What SISU paid for it day one is not relevant at all. It is a nice line from GH to get fans support and indignation nothing more. The only figure that is important is what will she accept to go. That has nothing to do with what assets there are or what loans written off either. The assets or the net assets of the club will not cover the amount paid to purchase, not even close.
They will only sell at a lower figure if they need to sell.............. I see no evidence at all that SISU need to sell.
The price will revolve around settling out ARVO in a reasonably guaranteed and tangible way. ARVO are owed £8m in capital plus over £4m in interest (to 31/05/16 alone) and put in over £16m in to Otium
Should GH make a 4th or 5th bid? My advice would be no, not at the moment. To repeatedly make small increments serves no purpose and in some senses weakens the position of the consortium. If I were Seppala (god forbid) then I might well be thinking that GH & co really do not have significant funds to make offer & then to provide working capital. The working capital bit is important because the ability to fund influences how secure the seller might feel about getting paid the add ons should they materialise.
Sorry but in my opinion this is just not going to happen
Should GH make a 4th or 5th bid? My advice would be no, not at the moment. To repeatedly make small increments serves no purpose and in some senses weakens the position of the consortium. If I were Seppala (god forbid) then I might well be thinking that GH & co really do not have significant funds to make offer & then to provide working capital. The working capital bit is important because the ability to fund influences how secure the seller might feel about getting paid the add ons should they materialise.
Sorry but in my opinion this is just not going to happen
Wow.. not even talking.. end of the road. Is it anyway to run a business leaving its future in limbo like this. The total secrecy aspect really leaves me cold.
Another bid is expected.
It's not just him involved...For somebody who wants to do it in private, he does have a leaky telephone / e-mail.
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