Rumour: Hoffman and Elliot takeover negotiations (34 Viewers)

[italiahorse]

This is why it won't happen. SISU (through Reid) have said 1.2m upfront is a joke offer whereas Hoffman and co think it's a very good offer and are surprised it was turned down. They are worlds apart in valuation and it's extremely unlikely there'll be a middle ground.

It was okay for Sisu to say it ....

On 18 June 2012, SISU made an offer to the Higgs Charity for its share in ACL, set out in an Indicative Term Sheet, for £5.5m, in the form of £1.5m immediate cash and an additional £4m in future payments. However, there were a number of express conditions precedent, namely that completion would only take place after:

• agreement between the Bank and SISU, as to the buy out of the ACL loan

...... and the Higgs response

...... the SISU offer, as it stood, did not protect the Charity’s position (and was, therefore, in the Trustees’ eyes, unacceptable) because the future payments by way of deferred consideration were only guaranteed against future income streams, which was regarded as a fatal flaw (see, also, paragraph 7.4 of the Statement of Marilyn Knatchbull-Hugessen dated 13 January 2014). The Trustees wished to have a “bulletproof guarantee”, in essence probably only a fully cash transaction (see Leggatt J Judgment, at [18]). SISU were unwilling to offer any other security.

... and to review there unreasonableness

• Following due diligence, SISU did not wish to offer the price set out in the Indicative Term Sheet, being willing to offer only closer to £2m than £5.5m.
• SISU considered that the Bank debt could be purchased for £2m-5m.

Taken from JR1

 

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[Sterling Archer]

My son is 7ft 2 and could have your son * **


* he's not that tall



** I don't have any kids


Sent from my iPhone using Tapatalk

 

[King of the Lesbians]

My son is 6 feet 6 and built like a brick out house (you have to be old to know what one of those is) still want to push me out of the way. He is on this thread now.

Hang on! You're my father?
All these years and I never even knew...

 

[Astute]

Not disagreeing. Similarly you get Italia saying people want to stick with SISU, which is nonsense.

If you see wrong in one you should see the wrong in the other I would think.

Anyway just enjoyed my first game for four months in the sunshine.

He comes out with a lot of nonsense yes. But not this time. You was man enough to admit so. It isn't right that someone can be so vocal and then just go quiet when wrong.

Great to see you are on the mend. And good to finish up with a win :smuggrin:

 

[covcity4life]

He comes out with a lot of nonsense yes. But not this time. You was man enough to admit so. It isn't right that someone can be so vocal and then just go quiet when wrong.

Great to see you are on the mend. And good to finish up with a win :smuggrin:

Grendel did same about slade and bigi

He chats shit and then gets banged and goes quiet or ignores it. Or flat out lies

Weird boy

 

[thekidfromstrettoncamp]

Hang on! You're my father?
All these years and I never even knew...

Hello son

 

[skybluetony176]

I bet I'm bang on though.

 

[Adge]

Just thinking about all this takeover business-if I does happen I wonder where that will leave Robins? Will they want their own man which a lot of the time usually happens after a new regime comes in.

 

[skybluetony176]

Less of the car park attendant
I also used to work at JLR before I took a massive pay off and my pension at 50.
Keep working @Grendel and thanks for my payment every 15th of the Month.

So to top it all off Grendull works to pay your pension. That must smart a bit for him.

 

[thekidfromstrettoncamp]

Astute least it was better than the shit you were watching 4months ago

 

[skybluetony176]

It was okay for Sisu to say it ....

On 18 June 2012, SISU made an offer to the Higgs Charity for its share in ACL, set out in an Indicative Term Sheet, for £5.5m, in the form of £1.5m immediate cash and an additional £4m in future payments. However, there were a number of express conditions precedent, namely that completion would only take place after:

• agreement between the Bank and SISU, as to the buy out of the ACL loan

...... and the Higgs response

...... the SISU offer, as it stood, did not protect the Charity’s position (and was, therefore, in the Trustees’ eyes, unacceptable) because the future payments by way of deferred consideration were only guaranteed against future income streams, which was regarded as a fatal flaw (see, also, paragraph 7.4 of the Statement of Marilyn Knatchbull-Hugessen dated 13 January 2014). The Trustees wished to have a “bulletproof guarantee”, in essence probably only a fully cash transaction (see Leggatt J Judgment, at [18]). SISU were unwilling to offer any other security.

... and to review there unreasonableness

• Following due diligence, SISU did not wish to offer the price set out in the Indicative Term Sheet, being willing to offer only closer to £2m than £5.5m.
• SISU considered that the Bank debt could be purchased for £2m-5m.

Taken from JR1

Presumably SISU were offering disclosure of investors. Seeing as that is apparently the standard.

 

[SkyblueBazza]

I'm an occasional poster and haven't read all of this thread, but I've got to say how embarrassing some of this discussion is.
Too many wind-up merchants, egos and argumentative folk all in the mixing pot that just ends up with childish bickering.
It's all a bit bizarre to me when it seems 99% of us want the same thing.
So many things contribute to my feelings on this.
I'm not a big fan of Gilbert - I think how he conducts himself on social media is amateurish and completely unprofessional. I may be being niaive but I don't see Les Reid as a sisu puppet. He obviously takes a different stand point from Gilbert and does hold the council and wasps to account. We all know sisu are the biggest protagonists in this whole sorry saga, but ccc in particular have a lot to answer for.
As for Joe Elliott and Gary Hoffman, surely there can be no doubt in anyone's mind that they ultimately want what's best for the club? I'm sure mistakes have been made in the past and I bet if you ask either or both of them they'd admit it. But for all the crap spoken on here about needing new owners and forcing sisu out, these two are doing something about it - so why do people feel the need to shoot them down so willingly??
I also see lots of falling out on here l, facebook and twitter about whether people should buy season tickets next year or starve sisu out. Personally, I won't pay for a season ticket, that is my stance. There is absolutely nothing to say this is right. People go to football for different reasons, to escape the wife, meet with friends or go because it's a family thing and has been for generations. I've got friends who as a family have had season tickets for 30+ years. The Northampton debacle split them in half, some went and some didn't. Same will happen next season. The older generation of the family go because they love the club, they are getting old and to be frank may not have many years left watching. So in my opinion, none of you have any right to say to them they shouldn't go, or to claim that they are any less of a fan than someone who is boycotting.
Sometimes there is some funny stuff posted on here - occasionally something sensible and insightful... but f**k me, sometimes I read this forum and I am embarrassed to be a Coventry City fan.
We've had years and years of shit. I argued until I was blue in the face with a Chelsea fan friend the other week about why it is fair that there were 43,000 fans at Wembley whilst our average gate is around 8-9k. We had our one day in the sun (and what a day), but that does seem like a distant memory now with all the bickering about takeovers, journalists and whether people shout buy tickets or not.
I enjoyed my day in the sun the other week. I cried at the final whistle because of the feeling of a weight being lifted off my shoulders. Something good had actually happened for the club. A cup win - yes a shit cup, but the chance to celebrate with 43000 other Cov fans who know the pain.
I'm not calling for people to stop arguing, all agree and start a peace and love commune together. I just think that before people get personal or judgmental, have a think. There's no right or wrong, just opinions about this whole f***ing mess. We all agree we want new owners and a new direction, proper fans would be uniting to make this happen - not arguing, name calling and petty point scoring on an Internet forum. 43,000 at Wembley show we can be a proper football club - as fans, let's start acting like one.
Rant over and well done to anyone that read the lot.

Well I at least consider myself told off

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[skybluetony176]

Grendel did same about slade and bigi

He chats shit and then gets banged and goes quiet or ignores it. Or flat out lies

Weird boy

Apparently he's blocked me. Which I find really funny. It's like I'm stood behind him making wanker signs and he doesn't even know. Childish I know but it amuses me no end. Cheers Grendull.

 

[clint van damme]

UOTE="Grendel, post: 1322294, member: 4246"]Will you be first in the queue for a season ticket the minute they have gone?[/QUOTE]

he's washing his hair

 

[Earlsdon-Loyal-Blue]

Just thinking about all this takeover business-if I does happen I wonder where that will leave Robins? Will they want their own man which a lot of the time usually happens after a new regime comes in.

Jesus Christ, cross that bridge when it comes!! Like me asking how much of a budget we'll get when we're back in the Championship!

 

[thekidfromstrettoncamp]

Adge would hope not his record in both spells would have put us at least in the play offs

 

[Earlsdon-Loyal-Blue]

Time to set a few alarms ringing;
SISU and Slade are shite!!

 

[King of the Lesbians]

Not read all this thread but people keep saying "seems Italia was right about this".
What did he say and was right about and what else has he hinted at?
All I read from him was something about Last Tuesday which didn't happen!

 

[clint van damme]

why can't people see italia was right a bid has been made stop slagging him off
who cares if he goes to wasps games he also goes to city games good luck to him.
as for the take over how I hope it happens I may be able to return in person

Knew there'd be a down side to this take over.
Weren't you one of the fuck wits who wanted the club liquidated?

 

[covcity4life]

Just thinking about all this takeover business-if I does happen I wonder where that will leave Robins? Will they want their own man which a lot of the time usually happens after a new regime comes in.

If its hoffman i imagine they are well aware how much the fans love robins.

 

[Astute]

Just thinking about all this takeover business-if I does happen I wonder where that will leave Robins? Will they want their own man which a lot of the time usually happens after a new regime comes in.

Anyone looking at results this season would keep him. And I would get Oggy to stay for a bit longer. Otherwise the only continuity at our club would be players that have come through the ranks.

 

[thekidfromstrettoncamp]

Adge would hope not his record in both spells would have put us at least in the play offs

 

[clint van damme]

Jesus Christ, cross that bridge when it comes!! Like me asking how much of a budget we'll get when we're back in the Championship!

any russell slade chanting in Earlsdon tonight?

 

[skybluetony176]

If its hoffman i imagine they are well aware how much the fans love robins.

I'd be more concerned about him walking because the "good people" are leaving than I would about any new owners giving him his marching orders.

I rate him as a manager and I don't have any desire to see him leave but I can't help questioning who his loyalties actually lay with given what he said. SISU or CCFC?

 

[ajsccfc]

No way would any new regime start by removing Robins, it'd be an instant step backwards reputation-wise.

 

[skybluedan]

WHAT HAVE I MISSED IN THE LAST 2 HOURS?

The usual mate , my dicks bigger than your dick , my sons bigger than yours
If someone put they had been Tenerife the other would say he's been elevenerife ,

 

[Grendel]

Grendel did same about slade and bigi

He chats shit and then gets banged and goes quiet or ignores it. Or flat out lies

Weird boy

One thing I never do is go quiet. That's for the likes of GPE, Captain Dart etc when confronted with the difficult question.

You are the epitome of a keyboard warrior. You love giving it - it's a blast implying posters are stupid, ignorant or racist or you make odd references about children on a beach. It's a hoot.

When confronted you play a victim. You whinge, whine and sent PM's wondering what you've done wrong.

As a last act of defence you switch to Stanley Unwin mode.

It's boring.

 

[covcity4life]

One thing I never do is go quiet. That's for the likes of GPE, Captain Dart etc when confronted with the difficult question.

You are the epitome of a keyboard warrior. You love giving it - it's a blast implying posters are stupid, ignorant or racist or you make odd references about children on a beach. It's a hoot.

When confronted you play a victim. You whinge, whine and sent PM's wondering what you've done wrong.

As a last act of defence you switch to Stanley Unwin mode.

It's boring.

You know what? Your right. Never thought about it befire but you are right.


IT IS A HOOT!!

Bigi wrong
Slade wrong
Sordell league scorer wrong hahahah

 

[thekidfromstrettoncamp]

Hello Italiahorse;s pension provider is back

 

[mark82]

I'd be more concerned about him walking because the "good people" are leaving than I would about any new owners giving him his marching orders.

I rate him as a manager and I don't have any desire to see him leave but I can't help questioning who his loyalties actually lay with given what he said. SISU or CCFC?

His comments regarding Sisu - he's hardly going to put the knife into his employers a few weeks into a new job.

 

[Liquid Gold]

So nothing has moved forward today then and everyone is still a little bitch?

Gary, if you're reading I'll stick a tenner in.

 

[Earlsdon-Loyal-Blue]

Let's hold a minutes alllause to acknowledge the death of @Earlsdon_Skyblue1 's pathetic opinion that Slade was unfairly sacked!

 

[blueflint]

Knew there'd be a down side to this take over.
Weren't you one of the fuck wits who wanted the club liquidated?

no and I'm no fuckwit unlike yourself

 

[blueflint]

Hoffman was outraged at the deal being leaked. Are you saying Hoffman was being disengenuous and leaking information on here to a poster while expressing faux pas outrage that the deal was being made public.

As for returning in person - lets be honest that's never happening unless we move the club to your back garden.

i'llprove it if it happens we can meet and you pay for my ticket as repayment of all the shite you put on about me

 

[Nick]

i'llprove it if it happens we can meet and you pay for my ticket as repayment of all the shite you put on about me

You can buy all of ours for all the shite you put on full stop.