"It costs us hundreds of thousands of pounds to run the club, so what is £1"?
This is disingenuous rubbish. Hoffman is offering £1 becuase assets are less than liabilities and the club is running at a loss. Dulieu know this. He's trying to hoodwink the supporters.
The shares might cost £1 in any deal to buy most clubs - however that is not the cost of the deal, the actual cost is how much of the debt the new owners become responsible for
all this talk of buying the club for £1 is misleading
Ken talks out of his arse, and I don't like his patronising manor. He seems to think that football supporters are all mindless yobs who don't understand about money. The quote that really wound me up was "you wouldn't sell your house for a pound would you?".
What a stupid analogy that was. If my house was only worth a pound then I would think of it as a reasonable offer, especially if it was costing me £500k a month just to keep it in its present derelict condition.
Who do you believe our Chairman who has a history of taking a club into admin? Or the former vice chairman of Barclays and former government appointed chairman of the Northern Rock. One is a respected city man the other.... well you decide.....
Hoffman isn't offering 1 quid for the club he's offering to pay off a lot of SISU debt as well, maybe Ken can't add up?
Who do you believe our Chairman who has a history of taking a club into admin? Or the former vice chairman of Barclays and former government appointed chairman of the Northern Rock. One is a respected city man the other.... well you decide.....
Hoffman isn't offering 1 quid for the club he's offering to pay off a lot of SISU debt as well, maybe Ken can't add up?
The club shares are worth nothing as sisu took all the shares for free. So £1 is a fantastic offer in that sense. Many company takeovers where the company is in debt include a token £1 jesture. The actual money comes into paying off the debt sisu have restructured and sitting on. The question is will hoff group pay sisu the full £30m and then another £10m to buy the ricoh? Or will they offer them £15m and tell them to do one as you are failing as a business here an you want out anyway. Whatever happens sisu will not get the full amount that they paid for ccfc. In fact since they bought the club there are less assets now than a few years ago! Sisu have cocked this up royal style. They should have bought the ricoh half at the start. Then they would have a major asset to bargin with. Sisu have £30m debt on the ccfc project and no assets. Looks to me Hoffman is in a very strong bargaining position.
Sisu you have fucked up and want to fuck is over for your benefit.
Maybe they are the ones who dont understand the thinking behind the £1 offer. He did struggle to explain why it wasnt a good offer after all. Maybe if we offered him 1€ or $1 they'd begin to understand!
trouble is now it doesnt matter what dulieu says it isnt going to be believed by many even if it were the truth......... but brought that upon self really
The fact he went and mentioned Ken Bruce as part of the investor group shows a complete lack of integrity, while at the same time saying Project Hoff didn't bring all their investors.
It is an outrage such a pathetic man is called out chairman. A sisu puppet with there hands stuck up his A hole. :jerkit: