Rumour: Hoffman and Elliot takeover negotiations

Discussion in 'Coventry City General Chat' started by Evo1883, Apr 9, 2017.

  1. fernandopartridge

    fernandopartridge Well-Known Member

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    I have to giggle at your juvenile attempts at appearing smart

    Sent from my D6603 using Tapatalk
     
  2. Nick

    Nick Administrator

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    Asking as many as they can you would think, probably so they can get excited when ST numbers are low and try and get outraged that x% of them are free or OAPs and how it is all lies.
     
  3. Broken Hearted Sky Blue

    Broken Hearted Sky Blue Well-Known Member

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    I'm not angry about anything at the moment just read the threads but quite frankly I'm losing interest, haven't renewed yet, don't think I will now. As for wading in on wrong threads I'd had a few then but never mind.
     
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  4. Nick

    Nick Administrator

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    It was just the first 2 I remembered who were outraged and stuff being leaked, I remember Moz also saying about "what is the agenda or them leaking info to their PR man" and not being happy about it.. There was even talk about the "takeover" being de-railed because the info was shared.

    It's a bit confusing it goes from that to being sent out on a press release.
     
  5. skybluetony176

    skybluetony176 Well-Known Member

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    Could. With the season ticket boycott and likely falls in attendances next season it seems highly unlikely that SISU won't have to put their hands in their pockets. Has to be equity as well doesn't it under SCMP so they'll never get it back.

    Fact is that player sales are actually worth more to SISU's pocket if they're sold under Hoff's ownership than they are under SISU's ownership because as long as SISU are owners the money goes straight back to the club to plug holes so SISU don't have to. They never see the upfront fee or the add ons of players sales unless you believe the theory that SISU are taking millions out of the club. The only way that they can do that is by selling the squad as part of the club. It's a red herring to say that the squad is worth more than what Hoff is offering up front because the simple fact is that they don't have access to the squad value by selling the players themselves.
     
  6. Captain Dart

    Captain Dart Well-Known Member

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    The player sales figure comes from looking at the last few years accounts, look under profit on sale of player registrations, 2016 was £2.5M, 2015 was £2.7M. I assume profitability continues at a slightly lower rate and SISU get 50%. Yes Nick, profit on player sales has been over £5M in the last 2 published accounts!

    Ryton I assume gets permission for housing and sold. I have heard figures of £6M bandied about so allowing £4.5m isn't even optimistic.

    As for promotion, it will come within 3 years even with a conveyor belt of talent being sold on surely, I only said 'more or less guaranteed' not "nailed on certainty". Widdrington is there to enhance the flow from National League isn't he, do you not think he will do a good job?
     
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  7. Captain Dart

    Captain Dart Well-Known Member

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    Sorry there are no more pies.
     
  8. Broken Hearted Sky Blue

    Broken Hearted Sky Blue Well-Known Member

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    Funny how you remember what I say but conveniently chose not to remember what others say.
     
  9. Nick

    Nick Administrator

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    I remember it because I remember discussing it with you ;)

    I don't choose what I remember, maybe your posts just stick with me.
     
  10. Broken Hearted Sky Blue

    Broken Hearted Sky Blue Well-Known Member

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    Ahhhhhhhhhh
     
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  11. skybluetony176

    skybluetony176 Well-Known Member

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    OK. Answer me this then. Let's say for arguments sake that the squad is worth £10M with add ons but anything received up front is used to plug holes and then any subsequent received add ons are then used to plug holes leaving you with 0% of £10M or you sell everything now for £2M and you can then take 100% of £2M. Would you take 0% of £10M or 100% of £2M? Which option is therefore more valuable?
     
  12. Liquid Gold

    Liquid Gold Well-Known Member

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    When will it all just fucking end
     
  13. oldskyblue58

    oldskyblue58 CCFC Finance Director

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    Any one actually clear as to what is being bid for? I am no longer certain

    a) ownership of Otium
    b) assets less football creditors
    c) something else

    I cannot see why anyone would buy Otium
     
  14. oldskyblue58

    oldskyblue58 CCFC Finance Director

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    but the SISU expectation is not asset based, so discussion on player values is irrelevant, and small upfront payments followed by huge add ons really don't get the deal,( if there is one) done, Therefore no choice based on those criteria to be made by SISU
     
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  15. oucho

    oucho Well-Known Member

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    Agree - it is fair to say that the end does not seem to be within sight.
     
  16. Astute

    Astute Well-Known Member

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    I agree with all of it. The put up or shut up was meant for those putting the bids in though. Reach a certain valuation or don't bother. There will be an amount that she would sell for. But as I said earlier I don't think that it will be a realistic amount. And I can't see the uncertainty helping ticket sales.
     
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  17. Nick

    Nick Administrator

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    Maybe that's part of the plan?

    Definitely more to why he has also done a U turn on whether it should be public or not and why he is now going on about not renewing ;)
     
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  18. weecohawena

    weecohawena Active Member

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    Just checking there's still no takeover.

    Carry on
     
  19. hill83

    hill83 Well-Known Member

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    Whenever you want it to really.
     
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  20. skybluetony176

    skybluetony176 Well-Known Member

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    Which is sort of the point I'm making. Posters keep saying £2M isn't even the value of the squad as if somehow it's derisory because they could sell the players for more. I agree it's irrelevant. If SISU sell the players the funds will be used to plug holes not to keep Joy in handbag's. If they took the £2M of Hoff upfront the losses become someone else's problem, Joy can book a taxi to Harrods and spend £2M on handbag's to her heart is content.
     
  21. Liquid Gold

    Liquid Gold Well-Known Member

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  22. Nick

    Nick Administrator

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    Surely if they wanted to they would just call in some debt / interest and take the cash?
     
  23. skybluetony176

    skybluetony176 Well-Known Member

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    And what happens to the holes in the accounts? Do they just stop paying something/someone? Do we go under transfer embargo which would surely increase the velocity of our downwards spiral? How much would CCFC be worth as a non league team?
     
  24. Nick

    Nick Administrator

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    That's why I said if they wanted to take some cash.
     
  25. dongonzalos

    dongonzalos Well-Known Member

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    For what purpose OSB?
     
  26. dongonzalos

    dongonzalos Well-Known Member

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    I told them my mates Oli, Garth and Rich also wanted to meet them. I guess there may have been some confusion.
     
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  27. Nick

    Nick Administrator

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    Because to say £20m sounds better doesn't it?
     
  28. dongonzalos

    dongonzalos Well-Known Member

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    In the real world when someone bids for something and the person they are trying to buy from feels the offer made is too small. They then never give them a hint at what a suitable offer would sound like??
    As usual your version of the real world is very different to everyone else's.
     
  29. dongonzalos

    dongonzalos Well-Known Member

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    What is the purpose of submitting a bid if you believe it will never be accepted?
     
  30. Nick

    Nick Administrator

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    Surely they do if they are mega keen on selling it?

    I don't want to sell my house, if somebody offered me a small % of what I wanted one day I'd laugh at them and tell them to piss off. I wouldn't book a valuation and get him round for a survey.

    It is assuming too much she wants to sell it to Hoffman isn't it?
     
  31. Nick

    Nick Administrator

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    No idea... That's what I am interested to know.

    Probably the same as ranting about things being made public 1 minute and then sending out press releases to the media the next.

    It's all very strange.

    My opinion is that it's some sort of PR tactic / game or to try and apply pressure.
     
  32. dongonzalos

    dongonzalos Well-Known Member

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    That's the reason for me. I guess there is some link between the level compensation and still owning the club. (Just a guess)
     
  33. dongonzalos

    dongonzalos Well-Known Member

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    Mixed messages to be fair. They have continually said it's not for sale. Then just last year Mr Fisher said every club is for sale and the actions of the fans protests) is putting people off buying.
     
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  34. dongonzalos

    dongonzalos Well-Known Member

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    Until last year they kept saying that dont won't to sell as the club was at the bottom end of the business cycle.
    Then during the season Mr Fisher said every club is for sale and the protests were putting people off.
    So I honestly don't know if it is for sale or not. They talked about buying land, building a new stadium. A new training facility. The only action I have actually seen is a proactive approach to getting Ryton in a position where it can be sold for housing. That money is already promised to ARVO.
    They were never returning to the CCC duristriction.
    They would only ever return to the Ricoh as owners of Coventry.
    Building a new stadium is the only plan.
    Long term rental agreement at the Ricoh is now Plan A.
    The Butts is the preferred plan.

    So it's very hard to know what to believe regarding the club and what not to.

    Whereas with Mr Hoffman he hasn't got a history of conflicting statements.
    So I think it is unlikely that he would go to all this time and effort on a bid that he either hasn't got the money for. Or that he doesn't believe is a realistic bid.
    He must think that if he was in SISU's shoes he would take it.

    On the balance of probabilities you would have to say it's a genuine bid that he believed should have a chance.
     
  35. Nick

    Nick Administrator

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    He has a history of pointless bids though doesn't he?

    I am not sure if he is just working his way up slowly to try and see if they would accept it. There is something going on.
     

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