Admin. (3 Viewers)
- Thread starter valiant15
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skybluesteve76
New Member
And who is gonna take over?
skybluesteve76
New Member
Trouble is mate, I'm not so sure it's that straight forward.
Skybluetracy
New Member
Hoffman's investors would. He has said they have not gone away. Just not prepared to do business with people who break confidences and can't be trusted. We must all be able to see now the type of things he alluded to lots of times. SISU behave terribly
SkyBlue_Bear83
Well-Known Member
No we need to give ourselves the best chance of surviving this season, a 10 point deduction won't help that.
ccfctommy
Well-Known Member
This is exactly why I cannot jump on the 'SISU out' bandwagon. I don't like them sure, but administration? You need your head checking.
Think of the players leaving for peanuts, the non playing staff of the club who will find themselves out of a job.
But hey ho, some people naively still think administration is just a ten point penalty and someone will take over and everything is wonderful again. :facepalm::facepalm::facepalm:
Think of the players leaving for peanuts, the non playing staff of the club who will find themselves out of a job.
But hey ho, some people naively still think administration is just a ten point penalty and someone will take over and everything is wonderful again. :facepalm::facepalm::facepalm:
ccfctommy
Well-Known Member
Yes, I can see Hoffman waiting like a vulture for us to go into admin for him to buy us for a pound.
Skybluetracy
New Member
I think thing important thing is not what he would have to pay to take over the debts but what his people have said they would invest to bring stability and hopefully success. A figure over £20m was mentioned. That's not being a vulture but an investor! They should talk to him about what they would accept rather than take swipes and bury their head in the sand!
Yeah, people hate SISU because we lose our best players for next to nothing, we don't invest much money to buy players and we end up with a poor side with little chance of survival.
Admin would mean more players for even less money, no money whatsoever invested on the playing side and an even worse side with even less chance of surviving.
Admin is not the 'get out of jail free' card that many seem to think it is. People will point at Soton, Palace, and others that have gone into admin and seem to have turned a corner and say 'look how easy that is, I'll have a piece of that'. It isn't that simple. We would be far more likely to head the way of Bradford or Plymouth. We don't own our ground, we have very few assets that administrators can sell to keep the club afloat, and we'd very possibly cease to exist as a football club.
We've got a falling number of fans that care about the club, very few outside the club that really care about us, and to be honest I think if the club died no-one else would miss us. It's a sad, sad state but we can hope for two scenarios:
1 - That a mega rich benevolent backer comes over the horizon to salvage a football club from the ashes.
2 - That SISU's 'new plan' which has apparently been in place since March is a masterstroke.
Scenario 1 doesn't look like happening any time soon (Hoffman has never convinced me that he's got the money behind him that he claims to have), so that just leaves scenario 2. Any word that comes out of a board member's mouth recently has been an out-and-out lie, so for all I know there's no plan in place for this club whatsoever.
The future looks unbelievably bleak, but SISU are the only crutch this club has at the moment.
Admin would mean more players for even less money, no money whatsoever invested on the playing side and an even worse side with even less chance of surviving.
Admin is not the 'get out of jail free' card that many seem to think it is. People will point at Soton, Palace, and others that have gone into admin and seem to have turned a corner and say 'look how easy that is, I'll have a piece of that'. It isn't that simple. We would be far more likely to head the way of Bradford or Plymouth. We don't own our ground, we have very few assets that administrators can sell to keep the club afloat, and we'd very possibly cease to exist as a football club.
We've got a falling number of fans that care about the club, very few outside the club that really care about us, and to be honest I think if the club died no-one else would miss us. It's a sad, sad state but we can hope for two scenarios:
1 - That a mega rich benevolent backer comes over the horizon to salvage a football club from the ashes.
2 - That SISU's 'new plan' which has apparently been in place since March is a masterstroke.
Scenario 1 doesn't look like happening any time soon (Hoffman has never convinced me that he's got the money behind him that he claims to have), so that just leaves scenario 2. Any word that comes out of a board member's mouth recently has been an out-and-out lie, so for all I know there's no plan in place for this club whatsoever.
The future looks unbelievably bleak, but SISU are the only crutch this club has at the moment.
Skybluetracy
New Member
I am sure you are right.
they should name a price and negotiate even though it's worth a lot less than a pound - because they would have ti fund losses and cash-flow of millions!
they should name a price and negotiate even though it's worth a lot less than a pound - because they would have ti fund losses and cash-flow of millions!
Skybluetracy
New Member
Have you not noticed Hoff is in the process of raising billions for a new bank. investors are backing that. Whybwouodnt you believe it if he says he canbraise tenable millions? He has no motivation to lie does he?
I'm working on the basis of two offers he has made (that I've heard of):
Offer 1 - This is the one SISU dismissed due to a lack of headed paper. This is not a legally binding offer. A proper offer needs to be from a registered company, this one wasn't, so SISU were well within their rights to dismiss the offer without giving it a second glance.
Offer 2 - This was withdrawn due to Big Sam/confidential information being leaked. SISU didn't reject this offer, Hoffman withdrew it. To the best of my knowledge, SISU are yet to turn down a valid offer from Hoffman.
Add this to GH continually dragging the situation through the media and I begin to suspect that he's not really going anywhere. I understand he is a well-respected banker and obviously I'd love him to come in on his white horse and pump in millions but I still see no evidence of this happening.
You missed the offer after the first which was also withdrawn by Hoffman.
So that is 3 offers - none (which were legal) turned down by sisu.
He doesn't want to buy the club - he wants to be given it.
So Sisu did not give the banks anything to clear the loans?
Read this about the offers
http://www.coventryobserver.co.uk/2011/10/01/story-Hoffman-deal-'lacked-credibility'-18785.html
Read this about the offers
http://www.coventryobserver.co.uk/2011/10/01/story-Hoffman-deal-'lacked-credibility'-18785.html
Skybluetracy
New Member
What a .ad of rubbish in the Coventry Observer. This guy from Grnt Thornton. Knows nothing about what happened I suspect. You don't need lawyers at meetings to talk about an offer. And thre investors said thy would provide proof of funds through lawyers and share their business plan. Time to talk to them rather than drive them away. My dad knows Hoffman really well - he is not stupid. Maybe got some of the tactics wrong but only because he thought (naively I agree) that he was dealing with people who would at least act professionally. You should talk to him if you can - he will tell you the"truth" and you can then judge him.
sky_blue_up_north
Well-Known Member
the bottom line is that admin will not happen, the reason SISU will lose all there money, right now they are hoping to see a return in the long term. They are looking at our club as investment, bit like a pension, or long term saving scheme. So they will sit it out. As much as we all want them to go, who else would come in. We have no stadium, only perhaps two or three players with any value, a falling fan base. The future is very grim at the moment. Like a few other touched on the only way out is if multi millionaire investor comes along, but that is a real long shot. Sad time for the club I love
les_miserables
New Member
I don't think admin is an option either. It has come out we have no defined owner for a start. SISU Capitol look after any investments they have attracted which i asume tot up to about £30million. If the projects go tits up i suspect SISU Capitol who i'm sure will have given certain guarantees to investors will have to compensate. To bring them to their knees quicker we need to cost them money at every opportunity. For example the threat of protest and dis-order at matches will mean Police presence, that costs money, which would have to come out of the SISU pocket, where else can it come from ?
coundonskyblue
New Member
Everyone keeps saying admin will not happen because Sisu will lose so much. It is quite clear Sisu have stopped funding the club, what will happen when the club cannot pay acl, or harry shaw, or any other local business? Admin will happen & Sisu might not get a say in the matter.
les_miserables
New Member
I think SISU have to fund the club for their investors who i'm sure invest in other SISU ventures. I am certain if Administration had been a pallatable option SISU would have gone down that route ages ago, why wouldn't they, they have no affinity with the club it is just a business venturer. The owners of SISU have never been here have they ?