Rumour: Hoffman and Elliot takeover negotiations (18 Viewers)

[bawtryneal]

I have no opinion on how much anybody earns, it's about market forces and what people will accept, here in KSA you can pay staff150 pounds a month and they will thank you, for this they get accommodations and food, medical and transport included and no tax and flights home every couple of years and it is much better than in their home country.
This is one end of the scale and the top players are at the other end and can drop a couple of weeks wages at the casino in a night. Is that right? Well he will have paid more in tax in a week than most earn in five years, that will trickle down into payments for staff, services paid for and keep builders, tailors, restaurants, car makers etc... in business.
As long as his club is solvent, as long as his salary that's pays it own way then frankly it's none of my business and to me it is small minded to begrudge them something that you would snap their hands off for if it was offered to you.

Agree with your sentiments but 200 and 300k a week is completely obscene. There should be some form of salary cap at 100k maximum in my opinion. Mind you if Jeremy ever gets into power it will stop the clubs in there tracks with some of the penalties he is looking to impose.

 

---

[Esoterica]

What's a hypotenuse?

It's responsible for more human fatalities in Africa than any other large animal.

 

[Monners]

It's responsible for more human fatalities in Africa than any other large animal.

What - including the Heffalump?

 

[Liquid Gold]

What - including the Heffalump?

Not including your mum on holiday.

 

[Monners]

Not including your mum on holiday.

You have obviously never met anyone from Donegal!

 

[Liquid Gold]

You have obviously never met anyone from Donegal!

????

 

[Brylowes]

????

Shane.......is that you ?

 

[Monners]

????

Getting closer

 

[Paxman II]

I don't believe in capping wages if the company can afford it. However a couple of points here:
Footballers are involved in the richest sport this country has. The sponsorship and TV deals have helped to make it so.
Now if Andy Murray earns 12m a year say by winning tournaments and sponsorship then good for him. As an individual in an individual sport it makes sense.
With a footballer he is part of a much wider structure and part of a 'team' of 11 players. His success relies heavily others. This is where the balance seems out of whack for me.
With so much money in football from outside sources, the authorities that run the game should be ensuring a big percentage is shared down through the leagues. No club should be failing while players are earning 300k a week. Players lucky enough to be a Rooney or a Vardy owe their careers to football in general throughout the leagues.
A substantial amount should be distributed to help clubs compete in all our leagues. Why would we prefer to pass on deals paying the likes of Rooney etc over 300k a week while ignoring these clubs? It's obscene. Fans are expected to buy season tickets while the players are earning such money? If there is so much outside money in the game let the supporters benefit and make a ticket cheap or even free.
If all this reduced players wages to say 100k a week then I think we would have a fairer system for all concerned.

 

[Sky Blue Kid]

I have no opinion on how much anybody earns, it's about market forces and what people will accept, here in KSA you can pay staff150 pounds a month and they will thank you, for this they get accommodations and food, medical and transport included and no tax and flights home every couple of years and it is much better than in their home country.
This is one end of the scale and the top players are at the other end and can drop a couple of weeks wages at the casino in a night. Is that right? Well he will have paid more in tax in a week than most earn in five years, that will trickle down into payments for staff, services paid for and keep builders, tailors, restaurants, car makers etc... in business.
As long as his club is solvent, as long as his salary that's pays it own way then frankly it's none of my business and to me it is small minded to begrudge them something that you would snap their hands off for if it was offered to you.

I'm not a greedy person pal, and as long as my family and myself are comfortably off I won't moan. You see, not everyone in life is a "Money grabber" Oh Yes, I almost forgot, Look at my earlier post about not begrudging players. Shows you don't read all posts eh?

Meanwhile teams like Southport, Chester City, Halifax, Hereford, Accrington, to name a few, that couldn't afford to carry on and went into Administration/Liquidation(Some now back in the football league(Accrington) could have done with a helping hand to keep grass roots football alive and save them from extinction. One weeks wages of a top player could sustain a L2 club for years.

 

[Sky Blue Kid]

I don't believe in capping wages if the company can afford it. However a couple of points here:
Footballers are involved in the richest sport this country has. The sponsorship and TV deals have helped to make it so.
Now if Andy Murray earns 12m a year say by winning tournaments and sponsorship then good for him. As an individual in an individual sport it makes sense.
With a footballer he is part of a much wider structure and part of a 'team' of 11 players. His success relies heavily others. This is where the balance seems out of whack for me.
With so much money in football from outside sources, the authorities that run the game should be ensuring a big percentage is shared down through the leagues. No club should be failing while players are earning 300k a week. Players lucky enough to be a Rooney or a Vardy owe their careers to football in general throughout the leagues.
A substantial amount should be distributed to help clubs compete in all our leagues. Why would we prefer to pass on deals paying the likes of Rooney etc over 300k a week while ignoring these clubs? It's obscene. Fans are expected to buy season tickets while the players are earning such money? If there is so much outside money in the game let the supporters benefit and make a ticket cheap or even free.
If all this reduced players wages to say 100k a week then I think we would have a fairer system for all concerned.

Top post, and you and I are not the only ones with the same train of thought either.

 

[Sky Blue Kid]

Who did you play for when you were a footballer?

Coventry Sporting Club, Ayr Utd, Montrose, and briefly Raith.(6 games)

 

[Captain Dart]

I have no opinion on how much anybody earns, it's about market forces and what people will accept, here in KSA you can pay staff150 pounds a month and they will thank you, for this they get accommodations and food, medical and transport included and no tax and flights home every couple of years and it is much better than in their home country.
This is one end of the scale and the top players are at the other end and can drop a couple of weeks wages at the casino in a night. Is that right? Well he will have paid more in tax in a week than most earn in five years, that will trickle down into payments for staff, services paid for and keep builders, tailors, restaurants, car makers etc... in business.
As long as his club is solvent, as long as his salary that's pays it own way then frankly it's none of my business and to me it is small minded to begrudge them something that you would snap their hands off for if it was offered to you.

I think you are not talking about everyone.
There is no doubt in my mind the ruling class in SA would treat many workers as slaves if they could, in fact slavery was only abolished in SA in 1962.
Condition of Workers in Saudi Exposes Chinks in Modi's Policy For Indians Abroad

It is an appalling country.

 

[Sky Blue Kid]

What's a hypotenuse?

A f**king strong loo.

 

[shmmeee]

I have no opinion on how much anybody earns, it's about market forces and what people will accept, here in KSA you can pay staff150 pounds a month and they will thank you, for this they get accommodations and food, medical and transport included and no tax and flights home every couple of years and it is much better than in their home country.
This is one end of the scale and the top players are at the other end and can drop a couple of weeks wages at the casino in a night. Is that right? Well he will have paid more in tax in a week than most earn in five years, that will trickle down into payments for staff, services paid for and keep builders, tailors, restaurants, car makers etc... in business.
As long as his club is solvent, as long as his salary that's pays it own way then frankly it's none of my business and to me it is small minded to begrudge them something that you would snap their hands off for if it was offered to you.

Why is it everyone from Dubai or KSA that I come across has this weird hyper free market ideology that they put forward as incontrovertible fact? Must be something about the culture and living in a country that doesn't have to think about economics thanks to natural resources.

 

[Sky Blue Kid]

Why is it everyone from Dubai or KSA that I come across has this weird hyper free market ideology that they put forward as incontrovertible fact? Must be something about the culture and living in a country that doesn't have to think about economics thanks to natural resources.

And the "I'm alright Jack, f**k you" attitude.

 

[SkyBlue79]

Player wages just increase in line with the Premiership TV deal, which continues to rise. Established Premiership clubs can afford it and seem to make money so I don't see an issue with wages as such. What is an issue is the lack of money made available as you slide down the leagues, it seems that it is extremely rare for non-PL teams to be able to both compete and run close to break even. The introduction of the Premier League and ring fencing of the money it brings has had more of an impact on the game than removal of the maximum wage in my opinion. What's more worrying, in terms of the longer term, is the fact that the majority of Premiership sides are also foreign owned and therefore have even less regard for the other three professional leagues than when the PL was started in the first place.

 

[fernandopartridge]

Player wages just increase in line with the Premiership TV deal, which continues to rise. Established Premiership clubs can afford it and seem to make money so I don't see an issue with wages as such. What is an issue is the lack of money made available as you slide down the leagues, it seems that it is extremely rare for non-PL teams to be able to both compete and run close to break even. The introduction of the Premier League and ring fencing of the money it brings has had more of an impact on the game than removal of the maximum wage in my opinion. What's more worrying, in terms of the longer term, is the fact that the majority of Premiership sides are also foreign owned and therefore have even less regard for the other three professional leagues than when the PL was started in the first place.

I genuinely hope that those teams who want to fuck off and play in a super league in Qatar for billions of TV money, taking the nauseating Leicester type happy clappers with them.

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[6 Generations]

Third bid rejected.

It appears that the Hoffman consortium still have not been informed of the selling price.

 

[Sky Blue Kid]

Third bid rejected.

It appears that the Hoffman consortium still have not been informed of the selling price.

And it also appears Hoffman has joined NOPM too

 

[skybluetony176]

Well if the details in the CT are correct of £2M up front, SISU keep Ryton (which is the only tangible asset) that probably explains why Les hasn't been falling all over himself on twitter calling it derisory. Seems a pretty fair deal to me. Well, for SISU anyway.

 

[Nick]

I thought Hoffman wanted it in private and was upset about details coming out? Bhsb and last won't be happy about that.

In terms of the bid, is getting closer but is it still just for assets or is he cutting a deal for a % of debt? That will be their sticking point. ( actual debt, not the random number).

Glad he has said to keep ryton as a sweetener, don't mess about renting it back have a clean break.

 

[Sub]

i wonder if CCFC will be training at the higgs
(till it gets developed by wasps) if SISU get ryton???

 

[clint van damme]

And it also appears Hoffman has joined NOPM too

as much as I want this to happen there's no point in Hoffman paying ridiculously over the odds for it.
Unfortunately I think that that is what sisu will expect.

 

[ajsccfc]

The point where they give up on trying is pretty much the point I'm giving up on it all myself.

 

[Nick]

i wonder if CCFC will be training at the higgs
(till it gets developed by wasps) if SISU get ryton???

Would have thought something like that or unis

 

[skybluetony176]

I thought Hoffman wanted it in private and was upset about details coming out? Bhsb and last won't be happy about that.

In terms of the bid, is getting closer but is it still just for assets or is he cutting a deal for a % of debt? That will be their sticking point. ( actual debt, not the random number).

Glad he has said to keep ryton as a sweetener, don't mess about renting it back have a clean break.

If they give them £2M up front and they retain something reputed to be worth circa £6M doesn't that just about cover the real debt which from my understanding is the ARVO charge, which IIRC stands at about £8.5 million including the Wonga interest rates that have been accrued.

 

[Sub]

Would have thought something like that or unis

wonder if they could go into joint ownership of the higgs aswell as the stadium long term ??

 

[Voice_of_Reason]

Just wondering if there is something sisu are hiding which a sale might reveal and that is the reason preventing a sale?

 

[dongonzalos]

Coventry City: Gary Hoffman consortium has third offer rejected

 

[dongonzalos]

as much as I want this to happen there's no point in Hoffman paying ridiculously over the odds for it.
Unfortunately I think that that is what sisu will expect.

I agree with that. I would prefer this consortium to save their money so they can actually afford to run the club if they manage to get it.
There is no point getting pushed to an unrealistic price for the club because of your emotional attachments to it.
The fact people won't meet them to negotiate tells its own story.
They should stick to what it is actually worth. Then wait until the legal action is completely finished and SISU have ran it that badly it gets picked up for next nothing.
Shame for us fans but the most sensible way to go.

 

[covcity4life]

putting this in here too, nick might be worth merging the threads.
=======
the bids are getting better and i think now would be unfair to call them jokes.

2m upfront. 20m with potential add ons(yes potential) and ryton to sell on for houses. hasn't been rejected as derisory......yet

doesnt look like a 4th bid coming in anytime soon unless joy speaks to them. poor business to not even respond. only need to say "look we are not for sale and will not entertain any bids" or for "any bid to be deemed acceptable we would require more money upfront etc" .joy and sisu not getting back to investers should not be defended.

 

[clint van damme]

putting this in here too, nick might be worth merging the threads.
=======
the bids are getting better and i think now would be unfair to call them jokes.

2m upfront. 20m with potential add ons(yes potential) and ryton to sell on for houses. hasn't been rejected as derisory......yet

doesnt look like a 4th bid coming in anytime soon unless joy speaks to them. poor business to not even respond. only need to say "look we are not for sale and will not entertain any bids" or for "any bid to be deemed acceptable we would require more money upfront etc" .joy and sisu not getting back to investers should not be defended.

apparently one of the facebook groups has people on it who are adamant the 4th bid has gone in, not on it myself so don't know but that's the talk at work by people who are on it.

 

[SkyBlue79]

Are SISU delaying the sale process whilst they take as much of the ST money as possible and as much of the player sales money that they can? It took a while to turn the latest offer down.

 

[Astute]

Looks like a sensible bid to me. SISU keep the only thing of value left other than players. The consortium don't overpay by too much leaving funding to take us forward. SISU don't waste any more money on something they don't have a clue about running.

But Joy will hold out expecting much more. Why won't she at least meet to negotiate an exit? Maybe she knows they will just walk away.