Rumour: Hoffman and Elliot takeover negotiations (33 Viewers)

[Liquid Gold]

Revealed: Coventry City takeover bid's multi-millionaire backer

Just offer 10 Mil and get it fucking done then mate. You've got enough money to rid us of these parasites on your own and your starting offer was 20p and a twix

 

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[clint van damme]

Good luck to the fella, get it done mate, so we can get back to concentrating on the football.

 

[SuperFred]

Why would you tell everyone you have 200m when you're part of a consortium bidding 4m for something ffs. SISU would be stupid to accept knowing these guys have more

 

[lifeskyblue]

I'm hoping this can get done and dusted now he has gone public. Certainly has the money to up the bid. But all depends on how far sisu want to push it.


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[Liquid Gold]

Why would you tell everyone you have 200m when you're part of a consortium bidding 4m for something ffs. SISU would be stupid to accept knowing these guys have more

Fingers crossed sisu have just signed the deal and now these guys are bragging about resources so the fans get behind them.

 

[covcity4life]

but but but hoffmans consortium is a joke remember

 

[ajsccfc]

I really want to believe this is a positive step and not just something Sisu can use to complain about things being done publicly.

 

[Nick]

Why would you tell everyone you have 200m when you're part of a consortium bidding 4m for something ffs. SISU would be stupid to accept knowing these guys have more

That's what I don't get. It isn't a very good negotiation tactic to say how much cash there is like that.

Was that £208m to him though or a company he worked at?

 

[lifeskyblue]

Doesn't mean he is prepared to significantly give more of the £208 million than he has already put forward.


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[superskyblue]

That's what I don't get. It isn't a very good negotiation tactic to say how much cash there is like that.

Was that £208m to him though or a company he worked at?

Doubt the fella wants to spunk all £200m on the club.

He's just proving he's credible and it will probably mean he'll get more support from fans, press etc. Keep cranking up the pressure on SISU.

 

[covcity4life]

doesnt matter what hes worth. i imagine the consortium have a limit they will give to sisu and a certain point will say sorry you are asking way too much. we are pulling out.

 

[Nick]

Doubt the fella wants to spunk all £200m on the club.

He's just proving he's credible and it will probably mean he'll get more support from fans, press etc. Keep cranking up the pressure on SISU.

Well no, I understand that! He would be insane to want to do that.

Cranking the pressure to do what though? The only thing that will make them sell is more money, sadly.

 

[SuperFred]

That's what I don't get. It isn't a very good negotiation tactic to say how much cash there is like that.

Was that £208m to him though or a company he worked at?

Not sure mate but it still seems like an amateur move.

Maybe they're trying to get the fans on side to put pressure on SISU but what can we realistically do?

Praying SISU sell up but this will just add to the price tag in my opinion.

 

[chiefdave]

Bit strange. Put in several low bids that have no chance then reveal your consortium has a backer who is loaded and could easily take the club over on his own.

Looks like Hoffman not wanting anything out in public is working well.

 

[dongonzalos]

Why would you tell everyone you have 200m when you're part of a consortium bidding 4m for something ffs. SISU would be stupid to accept knowing these guys have more

His company was sold for 208 million.
I haven't read yet what he himself has.

 

[skybluebeduff]

It's not just him either, I see we're moving from the flop to the turn card...

 

[dongonzalos]

If his business was in financial services. I am guessing he probably only wants to pay what the club is actually worth. As oppose to getting ripped off.

 

[Super Graham Withey]

This is good news. Hoffman has some backers with some serious cash behind them.

 

[Nick]

It's not just him either, I see we're moving from the flop to the turn card...

With an article in the telegraph?

Is the game buying the club or PR? The turn card would be to send an offer over to them they can't refuse and wave them goodbye.

Whether he has £1m or £1b it doesn't make a difference unless the offers change

 

[better days]

The owner's position in the past has sometimes been that the bidder(s) haven't provided evidence of funds
Perhaps this is the new bidders using the media to counteract that argument to force the owners to agree to a meeting

However if negotiations do start they will want a lot more evidence, for example a statement from a solicitor or broker saying they are holding funds independently pending a successful deal

 

[dongonzalos]

Richard Overson | KR Group

 

[olderskyblue]

His company was sold for 208 million.
I haven't read yet what he himself has.

Yep, my Company when sold was worth nearly the same*, but it doesn't mean it's all available in cash.....



* Just remove the word "million"...

 

[dongonzalos]

Key Retirement sold to Partners Group

 

[Bob Latchford]

I like these points - “I’m willing to put money in and I’m not looking for a return. - “If we can do that, then it’s down to the supporters.”
I'm concerned about this point - Lets get the club back to the city, Does he not know we're back playing in Coventry ?

 

[covcity4life]

first some complained we didnt know the backers

now we do its a case of well the offers shit!

 

[sky blue john]

Its obviously an attempt to get Sisu to the negotiating table.
Sisu don't want to sell fuck knows why not though!

 

[Nick]

Looks like it was a company he is a director at sold for £208m...

That's not to say he doesn't have cash though.

 

[clint van damme]

They're successful business men, there must be a reason or a certain strategy behind what they're doing.

 

[covcity4life]

I like these points - “I’m willing to put money in and I’m not looking for a return. - “If we can do that, then it’s down to the supporters.”
I'm concerned about this point - Lets get the club back to the city, Does he not know we're back playing in Coventry ?

hoffman has been vocal that his consortium are worried about the rent deal running out with wasps

 

[clint van damme]

I like these points - “I’m willing to put money in and I’m not looking for a return. - “If we can do that, then it’s down to the supporters.”
I'm concerned about this point - Lets get the club back to the city, Does he not know we're back playing in Coventry ?

I take that to mean he feels there has become a disconnect between the club and the city because of everything that's gone on with the current owners. Not that he doesn't realise we not in Northampton anymore - I hope so anyway!

 

[lifeskyblue]

Feel happier today than did yesterday. We find out the bid has credible backers and want talks with sisu. Can't foresee future and it may all come to nothing but I see the possibility of change and progress.


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[skybluebeduff]

With an article in the telegraph?

Is the game buying the club or PR? The turn card would be to send an offer over to them they can't refuse and wave them goodbye.

Whether he has £1m or £1b it doesn't make a difference unless the offers change

Just wait patiently like everyone else, just like the consortium is doing. What do we lose if SISU refuse to budge? It will be as you were and watch the club fall deeper into the mire.
Pretty sure people like you wanted to know who the backers were... well now you know at least two!!

 

[dongonzalos]

Looks like it was a company he is a director at sold for £208m...

That's not to say he doesn't have cash though.

I think he was director and a shared owner, with at least 6 different owners. The 6 directors bought it out right in 2003. Then they sold 60% of it in 2013. So he would have made some money then. However I think it maybe just that company who owned 60% selling their share for the 208 million.
So he may still own one sixth of 40% of the company.
Unless the directors also sold their 40% in that same deal

 

[Nick]

Just wait patiently like everyone else, just like the consortium is doing. What do we lose if SISU refuse to budge? It will be as you were and watch the club fall deeper into the mire.

Wait for what...?

 

[ajsccfc]

I like these points - “I’m willing to put money in and I’m not looking for a return. - “If we can do that, then it’s down to the supporters.”
I'm concerned about this point - Lets get the club back to the city, Does he not know we're back playing in Coventry ?

I think It's more that he wants the club to be ran by and for people who actually support the club rather it being a geographical point.