what Hoffman didnt say (1 Viewer)

[howzer]

what concerns me, and im all for the takeover, is the lack of information on how Hoff and his crew are going to deal with the 500,000 a month in loss the club makes, and how they intend on getting 15 thousand despondent sky blues fans back into the ricoh, ontop of that he first of all stated they had the capital to buy half a share in the stadium, but a couple of days later this changed to "a part share of the stadium from acl,. which would mean a part share in 50% ........... it worries me because i would have thought any new buyer would have realised by now that full ownership of the stadium is the key to our success. Its revenues alone would bring in at least 3 new players a season of good quality plus it acts as a great asset to the bank should we need to raise funds for new players.

im not over worried but i am concerned that we are just changing hands and not changing course which is what is needed really. Hoff needs to be a bit clearer really about the investors, i mean lets face it if we hear the names of investors we know are rolling in cash it would probably be good incentive for even more fans to push the sisu out button and maybe bring more fans back to the fold.

 

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[Il Pirata]

One thing he did say was that the backers he has have the cash to buy 50% of the stadium 'very quickly'.

 

[CovLis86]

For me, im not too overly concerned. Even if Hoffman and co pumped in exactly the same money that SISU are, id appreciate knowing its in the hands of a Coventry City fan, who actually cares about the club. I genuinely feel that SISU treat Coventry City as such a business, that they couldnt give less of a flying fook if they drove us to the ground and we didnt exist anymore.

 

[hill83]

Is it 50% of the stadium, or 50% of acl's 50% of the stadium?

 

[Sky Blue Sheepy]

With the greatest of respect - I'd rather he didn't start blurting his financial plans out to the press - the finer details are for SISU and Hoffman to work out - very few takeovers would have key details released in the media

 

[rob9872]

The position is not great but we are not losing anything like £500k per month now despite falling attendances. I would imagine it's half of that and will reduce even further when one or two more of the contracts of big earners expire.

In all honesty I think this was one of the biggest flaws in the Ranson/SISU plan. They looked at an average attendance of close on 20k and felt they could do enough to push that to 25k. It was this 25k that they budgeted against and we never got there or looked like doing so.

I think what any new investment should do whether it's GH or another, is to budget for a realistic target and be rigid with it. We don't want to bankrupt the place and be in this position again. Cut our cloth accordingly you might say.

My suggestion would be to budget for 15k and tell the fans that's exactly what you're doing. Also tell them that a managers reserve will be built from any excess to that figure, so if we want the manager to have funds to spend then it's up to us to get up and support the team.

If based on that we started attracting 22k to the Ricoh, that would give the manager 7000 surplus * approx £15 average ticket price * 23 games. This equates to £2.4m and whilst it may not be in the West Ham bracket, it is realistic and gives us £2.4m more than we currently have and something to work with. It also affords us the chance that we might be more likely to fo a Blackpool than a Stockport.

 

[SkyBlueScottie]

that full ownership of the stadium is the key to our success. Its revenues alone would bring in at least 3 new players a season of good quality plus it acts as a great asset to the bank should we need to raise funds for new players.

I dont think that will ever happen.

 

[Sub]

Surely before you start planning what to do and how to change the course of things you have to have control. Hoffman will have a plan im sure with his backers all agreed on the path to take, but that will be pointless untill they have control completly of CCFC. It is not in his intrest to disclose that to anybody until the consortium own CCFC then the changes can begin.!!

 

[I'mARealWizard]

I haven't heard Hoff commenting on how I can afford a new car later this year.

Until he shows some concern for me, I'm not going to concern myself with his outgoing expenses.

 

[procdoc]

I think if they've got money to throw at us then let them do it, fuck being cautious lets have some fun for a change!

 

[ashbyjan]

howzer - what Hoffman is on about is quickly purchasing the 50% of ACL from the Higgs Trust, and later the other 50% from the council but that is a separate negotiation. The actual purchase of the stadium is a completely different issue, the Higgs 50% of ACL would cost around £10m whilst to buy the actual freehold of the stadium would cost, I am guessing, £100m+. ACL do not own the stadium, the council own the stadium via North Coventry Holdings Ltd. ACL have a 50 year lease to operate the stadium.

 

[skybluesam66]

It is just a shame that ccfc wrote off the £30m that they invested in the original build - I guess that is why we have the option on the 50% at only 10m

 

[Otis]

Are we seriously expecting to reveal publicly exactly what he is intending to do? Does this happen in any other football club takeovers?

 

[howzer]

howzer - what Hoffman is on about is quickly purchasing the 50% of ACL from the Higgs Trust, and later the other 50% from the council but that is a separate negotiation. The actual purchase of the stadium is a completely different issue, the Higgs 50% of ACL would cost around £10m whilst to buy the actual freehold of the stadium would cost, I am guessing, £100m+. ACL do not own the stadium, the council own the stadium via North Coventry Holdings Ltd. ACL have a 50 year lease to operate the stadium.

oh ... thank you for making that clear mate. that makes it much clearer