:claping hands:
Coventry city receive formal bid from Gary Hoffman. (6 Viewers)
- Thread starter Dan Griffin
- Start date
:claping hands:
We'll_live_and_die
Super Moderator
Last edited:
Sterling Archer
Well-Known Member
I might offer £2.50 and try and gazump Hoffman's bid.
Let's make our own consortium. I'll throw in a packet of crisps. :laugh:
SkyBlueMania
New Member
Enough of the bloody mud slinging already. Every thread started soon disintegrates into a mudslinging match and goes completely off topic.
Does anyone know how long it takes for an offer to be mulled over and accepted if they are seriously considering it? I'm assuming weeks?
Does anyone know how long it takes for an offer to be mulled over and accepted if they are seriously considering it? I'm assuming weeks?
Sterling Archer
Well-Known Member
Just been speaking with Ken about this, he asks one question and one question only.
"What flavour?"
I reckon Ken is definitely a tangy cheese Dorito's man.
We'll_live_and_die
Super Moderator
It all depends how far they got with discussions. This could be formalities with everything being pre-agreed in the meetings that have already been held. We really don't know.
Moff
Well-Known Member
Are you referring to his taste in crisps, or his overall look?
pusbccfc
Well-Known Member
I heard he enjoys the 'really cheesy' Wotsits flavour.
6 Generations
Well-Known Member
Dear Gary,
Further to our most recent telephone conversation, we accept that discovering the current whereabouts of an extremely busy, Disneyland based Tinkerbell could prove difficult.
We also acknowledge that at present, all the normally redundant Unicorns, are unavailable due to an extremely high demand in Narnia and, indeed at Hogwarts.
As a caring, listening and above sympathetic body of men, and after a hastily arranged video conference, we have agreed to wave the clause involving delivery by Tinkerbell riding a Unicorn.
We, therefore look forward to your consortium resubmitting of further copy of your offer, jointly delivered by Elvis, Lord Lucan and Shergar in an alien piloted craft.
We must however insist that the other items in the terms and conditions clause are adhered to. I.E. Biblical tablets, Perished griffin Quills ect.ect.
Of course, ultimately, we shall continue to find any bid that you make unacceptable,
but at the same time, at least Leonard ,John, Onye and i can enjoy further chuckles at the expense of you, your consortium, and of course, most importantly the suckers (sorry i mean supporters).
I look forward to your early response,
Sincerely,
Kenneth
Further to our most recent telephone conversation, we accept that discovering the current whereabouts of an extremely busy, Disneyland based Tinkerbell could prove difficult.
We also acknowledge that at present, all the normally redundant Unicorns, are unavailable due to an extremely high demand in Narnia and, indeed at Hogwarts.
As a caring, listening and above sympathetic body of men, and after a hastily arranged video conference, we have agreed to wave the clause involving delivery by Tinkerbell riding a Unicorn.
We, therefore look forward to your consortium resubmitting of further copy of your offer, jointly delivered by Elvis, Lord Lucan and Shergar in an alien piloted craft.
We must however insist that the other items in the terms and conditions clause are adhered to. I.E. Biblical tablets, Perished griffin Quills ect.ect.
Of course, ultimately, we shall continue to find any bid that you make unacceptable,
but at the same time, at least Leonard ,John, Onye and i can enjoy further chuckles at the expense of you, your consortium, and of course, most importantly the suckers (sorry i mean supporters).
I look forward to your early response,
Sincerely,
Kenneth
singers_pore
Well-Known Member
cloughie
Well-Known Member
typical CET - first report saying CCFC not received anything - now they report the post has arrived. They obviuosly don't know how slow the post is in this part of Coventry!!!!
No not the postmans fault. They just hadn't got to GH's letter as it was at the bottom of the other 20 or 30 offers that rushed in from those would be investors that orange ken has been talking to.
kapowaz
Well-Known Member
SISU's position: they want to recoup as much of their original investment (i.e. the loan they owe to the bank) before selling. Say it's £20m — that's a big loss to take if they accept the offer of £1 from the consortium. However if the club goes into administration then they're pretty much never going to recoup that money from promotion to the premier league, and they'd still owe that money. Selling might then be in their interests.
Hoffman consortium's position: buying the club at this point may be predicated on the plan to take the club into administration at the earliest opportunity so as to reduce the club's liabilities and put it on a more stable footing going forwards. They may well be aware of SISU's dilemma and are exploiting it. I find it hard to imagine any investor would look at CCFC as a good opportunity to make money whilst still saddled with debt and not owning its own stadium. Perhaps Gary Hoffman has told a bunch of investors of this plan but wants them to invest in the post-administration business entity so that their money is ring-fenced away from existing debtors. It would certainly be a more attractive proposition than investing in the club as it is today.
Hoffman consortium's position: buying the club at this point may be predicated on the plan to take the club into administration at the earliest opportunity so as to reduce the club's liabilities and put it on a more stable footing going forwards. They may well be aware of SISU's dilemma and are exploiting it. I find it hard to imagine any investor would look at CCFC as a good opportunity to make money whilst still saddled with debt and not owning its own stadium. Perhaps Gary Hoffman has told a bunch of investors of this plan but wants them to invest in the post-administration business entity so that their money is ring-fenced away from existing debtors. It would certainly be a more attractive proposition than investing in the club as it is today.
Sterling Archer
Well-Known Member
Sterling Archers Position: I am going to buy the club after tempting Kenny D with a variety of cheese based flavoured snacks.
mr_monkey101
New Member
and rampage
AlexJohnson93
New Member
So this is what hope feels like...
BurbageSkyBlues
New Member
We just have to bite our nails, there will be brinkmanship from Sisu to exploit GH's passion for the club, and there will be patience from the consortium to minimise what they have to pay. We won't be put into admin unless a creditor forces it, Sisu will find ways of funding the operating losses rather than lose their investment, at this stage, I suspect.
jim20
Well-Known Member
Did anyone notice the bit in the Cov Mad post of the club being liquidated
"t is also understood that funding for rent of £1.5m to play and use the Ricoh Arena plus wages has been guaranteed for the rest of the season but if any potention buyer does not come up with a deal that they find acceptable, then the club with no assets will be liquidated."
It might not be relegation at the end of the season we have to worry about, but not having a club to support!!!!!!
"t is also understood that funding for rent of £1.5m to play and use the Ricoh Arena plus wages has been guaranteed for the rest of the season but if any potention buyer does not come up with a deal that they find acceptable, then the club with no assets will be liquidated."
It might not be relegation at the end of the season we have to worry about, but not having a club to support!!!!!!
kg82
Well-Known Member
Again, I ask for the smilie that's cringing, sucking in a deep breath of air through clenched teeth!
Nonleagueherewecome
Well-Known Member
I've gotta say Rich...it doesn't refresh on my home pc, only the one at work! It's not anyones fault if someone starts a thread on a topic already in discussion that they can't see.
oldskyblue58
CCFC Finance Director
Stuff like this is why i am really tired of it all. Covmad dont know that but it makes good press on the site and for the CT. Sisu undertook to ensure there was funding for this season that covers all expenses not just some. It also means all options are open come end of season it doesnt mean they have taken a decision to liquidate already if no buyer found - they afterall stand to lose the most in that! There is so much irresponsible reporting going on no wonder everyone is confused
Nonleagueherewecome
Well-Known Member
I'm pretty sure that there are special rules (a bit like the "football creditors first" thing when it comes to admin) saying that owners can't simply decide to liquidate a club. And if they did plan that, surely any bid is better than such a course? They'd get nowt that way. Plus we would hunt them down like the dogs they are if they did that!
Jim
Well-Known Member
Once the club is in admin it is run by a firm of accountants on behalf of creditors. They will then look for options to purchase the club. At this point Hoffmans bid would have to be considered carefully as it far outstrips liquidation for a sound solution to creditor payment.
The irony is that SISU's loan, being from an 'owner', should be at the very bottom of the preferential creditors list.
Nonleagueherewecome
Well-Known Member
georgehudson
Well-Known Member
coventry city receive formal bid from gary hoffman
For goodness sake SISU can you not get it into your heads that you have become pariah's as far as CCFC fans are concerned, ROCKET SCIENCE = COMMON SENSE
For goodness sake SISU can you not get it into your heads that you have become pariah's as far as CCFC fans are concerned, ROCKET SCIENCE = COMMON SENSE