Coventry City statement on Gary Hoffman takeover offer (5 Viewers)

[odysseus]

Does it not sound like an almost done deal? Hoff hasn't revealed his full hand yet, but the investors are there. At no point has the board stated that they are not happy with the "offer". They just want to be sure that the people they are selling too has the cash. For once it would seem they are working in the interests of us and our club instead of their own pockets.

Was suprised that the offer wasn't dismissed out of hand. Its definitely a promising sign that proof of finance is being sort. I bought and a few years later sold a catering business (small scale) but on both occasions the buyers had to prove finance during the process. Still, I get the feeling that their will be many twists and turns before this is done. SISU aren't going to walk away from their investments quietly.

 

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[We'll_live_and_die]

Was suprised that the offer wasn't dismissed out of hand. Its definitely a promising sign that proof of finance is being sort. I bought and a few years later sold a catering business (small scale) but on both occasions the buyers had to prove finance during the process. Still, I get the feeling that their will be many twists and turns before this is done. SISU aren't going to walk away from their investments quietly.

Unless they get an offer that is acceptable after months of discussions of course. Just so everyone knows Hoff haas been talking to SISU for quite some time if we recall. The discussions could be quite advanced, on the other hand we don't know and this could be just the start.

 

[LuckyGMan]

I'm sure due to money laundering regulations not only do you need to prove where the money is coming from but also who it is coming from.

 

[We'll_live_and_die]

I'm sure due to money laundering regulations not only do you need to prove where the money is coming from but also who it is coming from.

Correct, which is what stage they are at now. One would think this would be the stage after accepting an offer, such as when buying a house.

 

[Sterling Archer]

We are months away from a deal lads. People need to get it out of their head that this will go through within the week and Thorn will have X amount of cash to spend before the transfer deadline. It simply isn't going to happen that way.

 

[We'll_live_and_die]

We are months away from a deal lads. People need to get it out of their head that this will go through within the week and Thorn will have X amount of cash to spend before the transfer deadline. It simply isn't going to happen that way.

You must have inside info to know what stage the negotiations are at?

If you didn't know for certain you would say "I personally think we are months away from a deal lads".

Lest not forget that Hoffman has been talking to SISU (we think) for quite some time already.

 

[Sterling Archer]

You must have inside info to know what stage the negotiations are at?

If you didn't know for certain you would say "I personally think we are months away from a deal lads".

Lest not forget that Hoffman has been talking to SISU (we think) for quite some time already.

Not really, just using common sense. In all the years of footballing takeovers never has one been completed so quickly.

 

[We'll_live_and_die]

When did Hoff first talk to/enquire about buying the club from SISU? I have an idea it was a couple of months ago.

On another point how long did it take SISU to take over the club?

 

[LuckyGMan]

Correct, which is what stage they are at now. One would think this would be the stage after accepting an offer, such as when buying a house.

They are miles away yet.
Heads of terms (which is a working document I believe outlining the stages of purchase) are probably no where near being drawn up. This needs to be signed by both parties from my limited experience. This can take a while and this is only a guide to the transaction.
Then the fun begins. Changes from each side, back and forth negotiations , due dilligence, Solicitor delays, buyer delays, seller delays, money delays, discussions with Higgs Trust and the council (I would imagine that this would be an important part of the purchasers intentions).
This IMHO will take months.

 

[kg82]

When did Hoff first talk to/enquire about buying the club from SISU? I have an idea it was a couple of months ago.

On another point how long did it take SISU to take over the club?

You're not suggesting this could be done earlier than people on here in the know would suggest are you?! HERESY!!

 

[We'll_live_and_die]

You're not suggesting this could be done earlier than people on here in the know would suggest are you?! HERESY!!

Nope I take anything OSB says as gospel and he han't commented on the time the transaction may take.

 

[kg82]

Nope I take anything OSB says as gospel and he han't commented on the time the transaction may take.

But there's others on here who seem to be directly involved in the deal!!

 

[We'll_live_and_die]

But there's others on here who seem to be directly involved in the deal!!

Or possibly think they are.

 

[kg82]

I have to ask Rich, what's with the pic of Gunnar in a Cardiff shirt as your avatar?!

 

[We'll_live_and_die]

If it wasn't for SISU then he would still be here imo. It's better to have loved and lost than never to have loved at all. He still plays for CCFC after all :claping hands:

 

[procdoc]

Not really, just using common sense. In all the years of footballing takeovers never has one been completed so quickly.

the recent QPR takeover went through quite quickly

 

[LuckyGMan]

the recent QPR takeover went through quite quickly

Yeah....very similar deals..

 

[RegTheDonk]

SISU do not care about the club, its simple business and money to them.

The only reason why they want to know who the investers are it to tap them up directlyand cut Hoff out of any deal. That way they retain control, have a few bob for players to keep us sweet, but more importantly get someone else to help them keep the metre running and buy into the stadium.

Is a business, not a charity unfortunately.

 

[ccfcway]

so, picture the scene...

You pay £30 for a pair of trainers...

Wear them a few times and realise that they dont look cool...

Someone offers you 50p for them, but sod it, you paid £30, you might as well use them in the garden

think that clears things up !

 

[skybluesben]

Lets hope we can still protest at the Derby game or its gonna be very boring....

 

[CovLis86]

so, picture the scene...

You pay £30 for a pair of trainers...

Wear them a few times and realise that they dont look cool...

Someone offers you 50p for them, but sod it, you paid £30, you might as well use them in the garden

think that clears things up !

Not the same at all.

Its more like:

You pay £1 for a pair of new trainers in a special offer, however every month you have to pay another £5 on top to keep them. Youve grown sick and tired of the trainers now, and have already sold the laces to anybody who would have them. Now someone has come in and said they will buy the trainers off you for the original price of £1 that you paid. They are happy to pay the extra £5 a month for now.

Why wouldnt you sell them, when you dont even like them any more?

 

[Ernie Machin]

So what you're saying is, CCFC are a pair of Simod* trainers?


*one for the teenagers.

 

[ajsccfc]

Goes against people always saying the Ricoh is soleless.

 

[coundonskyblue]

I wonder why they've put the takeover story back as the main headline on the official?

http://www.ccfc.co.uk/page/Home