Rumour: Hoffman and Elliot takeover negotiations (13 Viewers)

[dongonzalos]

Coventry City takeover rumour - is there any truth in it?
Coventry City takeover rumour - is there any truth in it?

 

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[italiahorse]

Joe Elliot has not got the financial clout to run the club

Joe has always had the club at heart and is more of a figurehead. Hoffman is the financial muscle. .......... errrr hopefully.

 

[Brylowes]

Not who we should be welcoming, though.

Their track record (Elliot's especially) is pretty shocking.

For me the emphasis is almost entirely about the outgoing rather than the incoming,

Just completely had enough now, if something doesn't change soon I really fear the worst.

 

[Colin Steins Smile]

Picking up on a couple of points regarding a link to Wasps. I cannot see that Wasps would have any interest in a stake owning CCFC, as they currently have a fairly risky financial model linked to the bond issue that will probably need to be rescheduled for payment. To add a football team to that portfolio would only increase their variable risk.
However, they will have an interest in retaining CCFC at the Ricoh, due to maximising income streams for the stadium.
Additionally, Avro/SISU if they sold now would be selling from a poor performing period and it is a case of what their assessment is of future revenues and growth. Given that they've shown little regard for success on the field, then CCFC becoming a non-league team in a cheap rented stadium in Nuneaton, etc is of little consequence for them. I think it's a case of whether CCFC is assessed to be a distraction from their core business....if it is they may try and dispose of the club, albeit depending on what valuation they have. It has been suggested on numerous occasions that their valuation is something totally unrealistic, so I'm not holding my breath for any sale soon.

 

[Nick]

Coventry City takeover rumour - is there any truth in it?
Coventry City takeover rumour - is there any truth in it?

I thought he had already said there wasn't? Ha

 

[OffenhamSkyBlue]

The problem with Wasps taking over the ownership of CCFC (although I don't believe it for one second) is that they need capacity at the Ricoh for the RL side who they are bussing in from Yorkshire. We'll be having a ground swap and will be playing in Wakefield/Bradford/whichever RL side the next lot of bullshit PR rumour-mill throws up.

 

[fernandopartridge]

It was only done 12 months ago and the bond value would indicate any changes.
Even you must see that the plan is going in the right direction.

They didn't have it revalued, just used some paper based calculation that miraculously came up with the figure they needed.

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[Deleted member 5849]

Joe has always had the club at heart and is more of a figurehead.

If true, he'd recognise his judgement is shocking, and stand aside for those with better judgement to sort a deal, without cluttering the space with needless noise.

Actually, this is unfair. This is a rumour and nothing but, so on that basis, he has done exactly what I've suggested... which is good.

 

[ccfc92]

Got family working for the club, said nowt is going on. Hope they are wrong

What role?

The only people who would know would be the Board, MR and some other high up managers; financial, marketing etc.

 

[italiahorse]

They didn't have it revalued, just used some paper based calculation that miraculously came up with the figure they needed.

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.... and the bonds maintained there value which is the best indication of any issues.


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[clint van damme]

Another load of crap Tim trying to sell season tickets

that crossed my mind. Sad state of affairs when we have to be so suspicious of the owners.

 

[Kingokings204]

I thought he had already said there wasn't? Ha

Didn't mention it's bollocks in the article I noticed. Still it gets clicks for his shoddy journalism. Fake news.

 

[ccfc92]

Am guessing that its all Bullshit, but something has to change soon, merely because we will be homeless in 12 months. As for Elliott and Hoffman, be careful what you wish for. One of them has connections to our previous owners and was responsible for facilitating the handover of shares to SISU. Also how on earth are small time Joe, Hoffman and 2 other Coventry Businessmen going to be able to fund the club to the extent needed, not to mention pay off SISU.

We're running at break even /£1 million profit/whatever Fisher is saying this week remember

 

[Deleted member 5849]

We're running at break even /£1 million profit/whatever Fisher is saying this week remember

Yeah tbf, the level we're at now, we wouldn't need billionaires to fund us (if the deal was right to start them off on, of course!).

Can deal with that issue whenever we were in a position to need billions!

 

[ccfc92]

Yeah tbf, the level we're at now, we wouldn't need billionaires to fund us (if the deal was right to start them off on, of course!).

Can deal with that issue whenever we were in a position to need billions!

Agreed.

Plus, revenues would only increase once SISU go. (That's if the regular fan base isn't permanently damaged)

 

[HuckerbyDublinWhelan]

im assuming if this went through, the NOPM crew will come flooding back? A struggle for season tickets next season?

 

[ccfc92]

Gotta feel sorry for this John McDevitt if it turns out not to be true. I'm sure he's just passing on what he's heard, and isn't trying to WUM everyone.

Same with Evo on here, he's just forwarding information.

I don't think it will happen until we know we're in L2 100%, but even then, I suspect it may not happen

 

[ccfc92]

im assuming if this went through, the NOPM crew will come flooding back? A struggle for season tickets next season?

I'd say to expect another 1-2,000 ST sales.

I'll be one for a start! Even though I can't commit to every home game.

 

[oldskyblue58]

The Ricoh lease interest is due to be valued by professional valuers April 2017 per a statement in the half year accounts that were released.

That will mean the value will be public knowledge when the audited annual accounts are released in October 2017

 

[shmmeee]

Not read whole thread, am I safe to assume it's bollocks?

 

[Deleted member 5849]

Not read whole thread, am I safe to assume it's bollocks?

Lies, you have read this thread.

Many times over the last few years.

 

[Esoterica]

I fucking hate Joe Elliott. And I hate his smarmy fucking used car salesman grin. And I hate his Mr fucking Coventry reputation even more than that. There. I said it.

 

[duffer]

It was only done 12 months ago and the bond value would indicate any changes.
Even you must see that the plan is going in the right direction.

Erm... technically the bond price has been sliding in the wrong direction for a while now.

WASPS 22 retail bondtechnical analysis (WAS1) - London Stock Exchange

Obviously you've got a personal interest in them doing well, but I wouldn't be quoting the bond price as evidence, personally because I don't think it stacks up.

As far as the takeover goes, who here wouldn't want to see different owners, but the story looks a bit thin to me. I don't entirely trust the CET's rebuttal having said that, it's the classic 'sources say' approach that's impossible to verify either way.

Regardless, I'm still reminded of Fisher's 'you don't sell at the bottom of the cycle' line. I'm not sure exactly when he first said that, but I'm pretty sure we were further up the cycle then than we are now!

 

[martcov]

Erm... technically the bond price has been sliding in the wrong direction for a while now.

WASPS 22 retail bondtechnical analysis (WAS1) - London Stock Exchange

Obviously you've got a personal interest in them doing well, but I wouldn't be quoting the bond price as evidence, personally because I don't think it stacks up.

As far as the takeover goes, who here wouldn't want to see different owners, but the story looks a bit thin to me. I don't entirely trust the CET's rebuttal having said that, it's the classic 'sources say' approach that's impossible to verify either way.

Regardless, I'm still reminded of Fisher's 'you don't sell at the bottom of the cycle' line. I'm not sure exactly when he first said that, but I'm pretty sure we were further up the cycle then than we are now!

Depends which cycle you mean. He's cut the losses. Financially things are better than when he said that. We have no long term commitments... so we are costing nothing and have no baggage - apart from Arvo loans. Deal has to be made with Arco ( SISU ). Relatively simple construction.

League position is not the main point here.

 

[GaryMabbuttsLeftKnee]

I hope with all the will in the world that I am wrong, but this just sounds like the same boring nonsense that reappears annually. I for one won't be getting my hopes up, however this is no criticism of the OP just feel constantly let down with the continual rumours & nothing happening. The one thing that's pissing me off (and I think Gilberts a complete bell end so its even more infuriating) but people keep tweeting him saying: 'Proov ther iz no take ova attempt den.' Just how is he supposed to prove that something that hasn't happened doesn't exist? It's absolutely embarrassing and probably contributes to his ridiculously over-inflated ego having to deal with these neanderthals

 

[Earlsdon_Skyblue1]

It's a small ray of light, but i'll take it at this point.

I am expecting absolutely nothing to happen, but i'll stay open minded. If something does come to fruition it'll be great. No matter your perception of those two, there is no way in the world they can be as bad as SISU.

 

[Skyblueweeman]

Weren't they instrumental in bringing SISU in?


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[Otis]

Why do you lot always have to argue ?
Look spoke to the bloke on the phone who put the rumour up last night at 10pm .
Simon Gilbert has been inboxing him trying to goad him into saying what he knows .
He seemed very sure about what he was saying and that's all I have to go on at this point .
I'm sure now that something has been said and it's been made public , somebody somewhere will have to confirm or deny .

Chill people lol, if nothing fruits then we are in the same situation anyway so why argue?

This Sky Blues Talk. It's what we do best.

 

[Bumberclart]

Perhaps SISU have realised that the post Wembley feel good factor offers them a good chance to get out while the going is good and get the maximum return.

For the record, Joe Elliott us one of the few constants at CCFC over the past 25 years of our demise.......him and Oggy. (-:

 

[Deleted member 5849]

or the record, Joe Elliott is one of the few constants at CCFC over the past 25 years of our demise

When he's not involved, we win a trophy

 

[Liquid Gold]

This Sky Blues Talk. It's what we do best.

No it isn't

 

[clint van damme]

It's a small ray of light, but i'll take it at this point.

I am expecting absolutely nothing to happen, but i'll stay open minded. If something does come to fruition it'll be great. No matter your perception of those two, there is no way in the world they can be as bad as SISU.

I know John, not well, but I know him. If he's put this on Facebook then I'm confident he believes it to be true, of course, that doesn't mean it is.

 

[Earlsdon_Skyblue1]

I know John, not well, but I know him. If he's put this on Facebook then I'm confident he believes it to be true, of course, that doesn't mean it is.

Let's hope it is! If the club has a future I can't see it being a positive one under SISU whatsoever.

 

[duffer]

Depends which cycle you mean. He's cut the losses. Financially things are better than when he said that. We have no long term commitments... so we are costing nothing and have no baggage - apart from Arvo loans. Deal has to be made with Arco ( SISU ). Relatively simple construction.

League position is not the main point here.

It's an interesting point - not unfair except that as with all other businesses you can't solely focus on cutting costs, you've also got to measure how well the product is doing. I think for a football club that has to at least in part relate to league position, because that's ultimately going to relate to how much money you have coming in. At the moment of course, that metric appears to be on an endless downward trend!

You could make the case that now is actually the ideal time to sell. We're relegated, but we've got a good manager in place and the basis for a squad that looks like it might be competitive in League 2. Someone buying the club now could promise some relatively minor investment, capitalise on the goodwill post-Wembley and get season tickets sales rising for next season rather than falling. If we lose half of the squad over the summer, drop a couple of thousand on renewals and start poorly in L2, then we'll have slid a bit further down the cycle imho.

 

[mrtrench]

I just met two multi-millionaires in the Penrith tea rooms who claim to be behind a bid. I overheard them saying they were going to buy and install a jukebox.