Rumour: Hoffman and Elliot takeover negotiations (1 Viewer)

[Grendel]

No, the questions have been to Italia who has said about the rumour.

If there is any truth at all I think we all know what it's likely to be. Italia was probably told to do what he has done by his paymasters.

 

[HuckerbyDublinWhelan]

So are we getting taken over or not?

 

[ajsccfc]

Come for 'Sisu out', stay for the trout

 

[Irish Sky Blue]

The ones just before SISU. Their decisions to leave HR, to spend money we didn't have, to buy players and take the profit. They mismanaged the Ricoh project. How on earth did such a grand plan have no financial backing or detail. I'd say it runs SISU very close if not as bad. SISU have just continued the legacy.

The club needs a fresh start. No Elliott, no Hoffman, none of the old faces that have been here while the club has sank. Sorry if that upsets a few but I don't see Hoffman or Elliott as heroes.

Surely the question could be Hoffman/Elliot or continue with Sisu. If there is no other choice you would continue with Sisu?

 

[covcity4life]

Are they? Whose putting a bid in?

hoffman and co IF italia is telling truth

 

[Grendel]

hoffman and co IF italia is telling truth

I don't think so. Prepared to be disappointed.

 

[covcity4life]

I don't think so. Prepared to be disappointed.

very annoyed if hes lying. very

 

[Edgey95]

Theres no takeover, all shite

 

[Grendel]

very annoyed if hes lying. very

I don't think he's exactly lying but I suspect there is some half arsed attempt at a "bid" he's already admitting it's being rejected anyway.

 

[covcity4life]

I don't think he's exactly lying but I suspect there is some half arsed attempt at a "bid" he's already admitting it's being rejected anyway.

thats my worry. that its a bid for publicity and not a serious move to buy the club

 

[Grendel]

thats my worry. that its a bid for publicity and not a serious move to buy the club

I guess it's some PR stunt involving our insect chums

 

[Brylowes]

thats my worry. that its a bid for publicity and not a serious move to buy the club

thats my worry. that its a bid for publicity and not a serious move to buy the club

The bid probably is serious, SISU being realistic on what they expect however.:banghead:

 

[SkyBlueZack]

The bid probably is serious, SISU being realistic on what they expect however.:banghead:

Would you be willing to take a £20 million+ loss on a football club you have no affinity too and don't give a shit about. This is where the problem is, a fan would, some business people might. A hedge fund? No chance. She has a reputation for being hard nosed, one of the reasons we're in this mess. She is not going to accept a pound. She is not going to accept money back on success. She wants to recoup as mush as possible up front. She don't care if it's her decisions that have helped lose that £20 million.

 

[Brylowes]

Would you be willing to take a £20 million+ loss on a football club you have no affinity too and don't give a shit about. This is where the problem is, a fan would, some business people might. A hedge fund? No chance. She has a reputation for being hard nosed, one of the reasons we're in this mess. She is not going to accept a pound. She is not going to accept money back on success. She wants to recoup as mush as possible up front. She don't care if it's her decisions that have helped lose that £20 million.

We must be like a weight around their shoulders, at some point they will set us andThemselves free,
their chosen way of running the club is never going to result in an increase in value.

And by the way, you don't know how she thinks and feels anymore than the rest of us.

 

[italiahorse]

Would you be willing to take a £20 million+ loss on a football club you have no affinity too and don't give a shit about. This is where the problem is, a fan would, some business people might. A hedge fund? No chance. She has a reputation for being hard nosed, one of the reasons we're in this mess. She is not going to accept a pound. She is not going to accept money back on success. She wants to recoup as mush as possible up front. She don't care if it's her decisions that have helped lose that £20 million.

She must know she will not get her money back.
I'd give an offer including a PL bonus if we get there.

 

[Esoterica]

I dunno, too many variables. Why would 4 "wealthy" men only muster 80% of the bid? You would think it must be a pretty sizeable amount. And if so, what guarantees can they give to SISU that 20% can be raised by fans? Do they really expect honest but average wage fans to be able to put up the other 20%, without any forethought or consultation?



Gut feeling yes. Though I did find it extremely plausable that Hoff would take his wing man Joe to a meeting with the head of WASPs...just get his kid on their netball team. :shifty:

4 wealthy people put a million in each and offer a season ticket + share for 600 instead of just the 300. 3000 people buy one because SISU are gone and we've got an extra mill to take it up to the 5 mill that SISU will now sell for, if they get to keep Ryton. We get bumper League 2 crowds on a wave of good feeling so Mark Robins gets backed and we win the League by Christmas.

Dunno what's taking so long....

 

[SkyBlueZack]

We must be like a weight around their shoulders, at some point they will set us andThemselves free,
their chosen way of running the club is never going to result in an increase in value.

And by the way, you don't know how she thinks and feels anymore than the rest of us.

But do I?

 

[MAFF]

BREAKING: ‘No credible takeover offer’ says Coventry City, after Hoffman bid & other ‘unhelpful’ rumours

 

[SkyBlueZack]

So much for Friday.

Edit. No details were presented, can you fill us in more now Italia? Or are we just to get angry?

 

[Edgey95]

No "Credible" offer

 

[ricohroar]

Club statement "(insert any good player we ever sold here) is going nowhere" on transfer deadline day - Hours later SOLD Undisclosed. This is sounding very promising

 

[Brylowes]

BREAKING: ‘No credible takeover offer’ says Coventry City, after Hoffman bid & other ‘unhelpful’ rumours

And with that brief statement, it would appear its us
"For whom the bell tolls"

 

[chiefdave]

Obviously the club will be sold for the proverbial £1, they key is what else is offered. We 'owe' SISU a fortune and they will know they are never getting that back and has most likely already been written down in their accounts but they won't walk for nothing.

I would guess we're looking at needing a bid of at least what they can achieve via liquidation. The only thing of value would be Ryton and without the club in existence the way would be clear for that to be sold for housing which I think someone on here stated would be around £8m. So you'd need £8m up front for SISU to walk.

Then you have to deal with the debt to the likes of Arvo. Taking over the club doesn't see that debt disappear but the club would never be able to service it, and under new owners it is unlikely that repayment continue to be deferred. You'd need to make an offer to them they would accept to settle the debt.

I reckon you're probably looking at £15m plus upfront. Sure someone like OSB can give a more accurate estimation.

Then moving forward you've got to fund an academy, even if we stay at Higgs costs will increase as it would be on a commercial basis not the discounted arrangement we previously had, and a second site would be needed. There's then the issue of where we play and gaining access to revenues to be resolved. Staying at the Ricoh is probably workable in L1 / L2 dependent on attendance but above that it becomes less viable unless Wasps are prepared to offer a much better deal than we currently have in place, and there is nothing to indicate that is likely.

 

[italiahorse]

I don't think he's exactly lying but I suspect there is some half arsed attempt at a "bid" he's already admitting it's being rejected anyway.

Tow the line. TF said 'Not Creditable' your saying 'half arsed'. Looks like you have already taken sides as expected.

 

[Sub]

Club chairman Tim Fisher told us last month there had been no credible offer for the club which had shown proof of funds, or transparency of investors – the criteria by which it is understood Sisu would consider any bid, as well as the financial terms of any offer.


That bit in red really does take the piss coming from fisher and SISU

 

[Nick]

Looks like you have already taken sides as expected.

That wasn't predictable in the slightest.

 

[italiahorse]

So much for Friday.

Edit. No details were presented, can you fill us in more now Italia? Or are we just to get angry?

No idea on the offer, just knew it was coming and would be rejected.
Fingers crossed on the next one.
Expect the details from the other party to be disclosed to the press if that one is rejected.

 

[smouch1975]

Aussie's are coming. Navy first



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[Nick]

Expect the details from the other party to be disclosed to the press if that one is rejected.

All of the details? That would be good to see so we can get an idea of what's being offered.

 

[SkyBlueZack]

Be even better to see the details of the bid and the details on how they would take the club forward.

 

[Brylowes]

But do I?

Wouldn't surprise me TBH.:emoji_smirk:

 

[Liquid Gold]

At this rate I'll have saved up enough packet money to buy the club before these supposed serious business people can put something together.

 

[Warwickhunt]

Tow the line. TF said 'Not Creditable' your saying 'half arsed'. Looks like you have already taken sides as expected.

ah! at least we are getting denials now where as before it was stony silence

 

[Brylowes]

Be even better to see the details of the bid and the details on how they would take the club forward.

With SISU we have "proof in motion" of how they are taking the club backwards.

 

[SkyBlueZack]

With SISU we have "proof in motion" of how they are taking the club backwards.

Why not address what I have wrote rather than just say SISU.