Gary Hoffman (1 Viewer)

guicey15 · Aug 7, 2011

I'm very much in favour of SISU being kicked out, but i'm not too sure we have all researched this Hoffman properly. It seems were all so tied up in getting rid of SISU that were not concentrating on the bloke who will probably take over if SISU do go. Lets not be too quick to have our opinion. Yes it all seems very jolly, Cov fan, lots of investors, bold promises. But I seem to remember SISU making similar statements... So before we rush into yet another take over, lets step back and research this guy. How credible is he? Just wondering what you all think?

coundonskyblue · Aug 7, 2011

guicey15 said:
I'm very much in favour of SISU being kicked out, but i'm not too sure we have all researched this Hoffman properly. It seems were all so tied up in getting rid of SISU that were not concentrating on the bloke who will probably take over if SISU do go. Lets not be too quick to have our opinion. Yes it all seems very jolly, Cov fan, lots of investors, bold promises. But I seem to remember SISU making similar statements... So before we rush into yet another take over, lets step back and research this guy. How credible is he? Just wondering what you all think?

I would be pleased to see him come in, purely on the basis he can't make a worse job of it than Sisu.

As for saying he's making the same promises as Sisu, well anyone who takes over a football club is going to say that.

akira1984 · Aug 7, 2011

How credible?
The guy took barclays from 6th biggest bank in the world to 2nd, took over northern rock when the government asked him to after they saved it. Now the government has given him a shed load of money and asked him to find some more investment to start a new british based bank.

So I kinda think he is credible

Otis · Aug 7, 2011

I'm of the opinion that we are between the devil and the deep blue sea.

I have no idea at all whether Hoffman will be any better or not. The thing I see in his favour at the moment is that he's a Cov fan. Besides, it's clearly not working under Sisu. Something has to change. I have not got a cast iron opinion on the matter, but I would guess I would prefer Hoffman cos of the City link thing and you have to wonder if it can possibly get any worse than it is now.

I'mARealWizard · Aug 7, 2011

I suggest that you just examine the alternatives...

Oh, there aren't any

So it's really a choice between a faceless company who are unaccountable to the fans and have always been in it to get a profit (something we were all quite happy to live with as we believe the only way that would happen would be via promotion) or a group of investors led by a business man with a good financial reputation and someone who is prepared to speak freely with the media.

He has a reputation to consider. If he somehow acted against the best interests of the fans, the publicity would damage him far more than it does SISU.

Marty · Aug 7, 2011

I think he deserves the chance, remember it was him and Ranson whos plan it was to pick up the top talent from the lower leagues and build a team over 3-4 years which would see us back into the prem. In the end i don't care whos in charge as long as they run the club well and invest money into the where they can.

Covstu · Aug 7, 2011

I'mARealWizard said:
I suggest that you just examine the alternatives...

Oh, there aren't any

So it's really a choice between a faceless company who are unaccountable to the fans and have always been in it to get a profit (something we were all quite happy to live with as we believe the only way that would happen would be via promotion) or a group of investors led by a business man with a good financial reputation and someone who is prepared to speak freely with the media.

He has a reputation to consider. If he somehow acted against the best interests of the fans, the publicity would damage him far more than it does SISU.

I think time will tell, SISU had Ranson to speak with the media and look how that turned out!!! They just told us things we wanted to hear and never materialised so lost credibility very quickly!

Jack Griffin · Aug 7, 2011

The alternatives are stay in the shit with SISU & believe it when permatan Ken says he will bring in new money or try out Hoffman.

Any more you need to know?

oldskyblue58 · Aug 7, 2011

I cannot and would not question GH's passion for CCFC - it is clear. Certainly I am not a fan of SISU or the current Board but not all of what they are doing is wrong or can really be criticised

Think folk miss some of the real points at times though

GH or anyone else taking over will still mean this club has huge debts and restricted income

GH says there will be a pot for transfers - seem to have heard that before with others

GH will buy 50% of ACL - very admirable except it gains the club no income, that only comes with full ownership and that will cost a lot more than £10m

Whoever comes in will have to deal with the new rules to be set for 2012/13.

The club cannot survive under any owner by making multi million pound losses year after year....... oil barons and sheiks are few and far between. The club have to get their finances in order under any owner

Have no axe to grind with GH ...... he may be the man for the job....... but anything reported so far has not convinced me that we will be in any better position in terms of the finances or the problems we face. But that is likely to be the case with any owner we have finance wise

gary_ccfcforever · Aug 7, 2011

We need to remember, GH is only the frontman for a consortium, he will not be running the club, we do need to know who these people he is introducing are, however as a city fan and a well regarded banker i can hardly see GH recommending people who he doesnt believe will be good for the club and who have the cash required to turn us around, so for me it cant happen soon enough!

edgy · Aug 7, 2011

oldskyblue58 said:
GH will buy 50% of ACL - very admirable except it gains the club no income, that only comes with full ownership and that will cost a lot more than £10m

Is that a fact? I would imagine owning half the stadium woukd entitle you to some if not half the revenue streams.

maniac five · Aug 7, 2011

I don't give a crap who takes over. SISU leaving is the most important thing that needs to happen in City's history.

Jack Griffin · Aug 7, 2011

edgy said:
Is that a fact? I would imagine owning half the stadium woukd entitle you to some if not half the revenue streams.

Yeah a fair bit of which come from the ground rental.

But if added to the club it would increase turnover, allowing the club to pay higher wages & spiral deeper into debt.

In my opinion we need someonew with a LOT of cash to come in and pay for promotion, then they can sell it on at a profit & everybody is happy. Anyone know Bryan Robson?

SydneySkyBlue · Aug 7, 2011

I think it's due to the cynical nature of us City fans that when a situation's too good to be true, we automatically assume it isn't. We then to try to pick holes in it where possible - or in this case, invent them.

I honestly can't think of a better candidate to front a take over of our club than Hoffman.

Is he credible?
He's as credible as you get, for the reasons akira1984 mentions on the previous page.

Does he care about the plight of the club?
He's a City fan.

How much will be invested?
He's promised to provide £20million to cover our running costs and strengthen the squad plus another £10million to buy a half-share in the Ricoh Arena. Who knows what or if his consortium will provide after that but if you wanted an expert with contacts to pick out investors that are both wealthy and credible you need to ask yourselves this:

For the above reasons, who better than Hoffman?

oldskyblue58 · Aug 7, 2011

edgy - if they buy half the shares it does not mean they get given half the income - and yes that is a fact. ACL is a seperate legal entity, just like if you owned shares in BP it doesnt mean you have a share of their turnover, you may get a dividend. ACL cannot pay dividends as yet because they do not have any distributable profits

Jack - the turnover of ACL will not count towards any calculation for CCFC as CCFC have no right to the turnover because they have only invested in the shares of ACL - they dont own or control ACL

SkyBlue_Bear83 · Aug 7, 2011

oldskyblue58 said:
edgy - if they buy half the shares it does not mean they get given half the income - and yes that is a fact. ACL is a seperate legal entity, just like if you owned shares in BP it doesnt mean you have a share of their turnover, you may get a dividend. ACL cannot pay dividends as yet because they do not have any distributable profits

Jack - the turnover of ACL will not count towards any calculation for CCFC as CCFC have no right to the turnover because they have only invested in the shares of ACL - they dont own or control ACL

So what would be the benefit in purchasing it? I don't really understand the finance side of football.
Would it just be no rent to pay and that is it?

oldskyblue58 · Aug 7, 2011

still have to pay the rent - buying 50% wont change that

it works only if the 50% purchase is a stepping stone to getting 100%. Plus the £10m price guarantee has a finite life and is below market value so makes sense in that respect to get as cheap as possible so long as there is a plan to own it all soon after

oldskyblue58 · Aug 7, 2011

going back to GH - I am not sure that his offer is the only game in town, Think it might be the only one advertised.

People should keep an open mind and not pin their hopes on the one.

As I keep saying believe it when I see it

Otis · Aug 7, 2011

Well that's how I've always understood it. You buy 50% with the intention of owing 100% in the future. It is just the first step to the goal and at the same time makes the club a more attractive proposition.

SkyBlue_Bear83 · Aug 7, 2011

oldskyblue58 said:
still have to pay the rent - buying 50% wont change that

it works only if the 50% purchase is a stepping stone to getting 100%. Plus the £10m price guarantee has a finite life and is below market value so makes sense in that respect to get as cheap as possible so long as there is a plan to own it all soon after

Ok thanks so buying 50% won't change anything, it is just something that needs to be done on the road to owning 100% which is then, when it will actually be beneficial?

les_miserables · Aug 7, 2011

Gary Hoffman is brokering a takeover and will not be chairman or anything like it, he hass already said so. He is a mad keen fan and as frustrated as us all at the plight we are in. The people he is looking to intoduce to OUR club are mega-rich guys from Hong Kong eager to get involved with an English club, i hope they are patient as this could be our one big chance of recovery. As for Hoffman's credentials he mixes with the biggest financiers in the world and will have done months of research on whoever comes in. Lets be honest he is way above our circles and probably wouldn't piss on us if we are on fire, but who cares. IF we are to be anything like a challenger we have to get SISU out and quick. They will ruin OUR club for good and not give a stuff.

While we are on this do we trust Hoffman talk what about this John Clarke character who seems to have slipped under the radar, sniffed about the club for years and was even chairman for about 9 days prior to the Richardson years . What does he offer ?

SydneySkyBlue · Aug 7, 2011

les_miserables said:
While we are on this do we trust Hoffman talk what about this John Clarke character who seems to have slipped under the radar, sniffed about the club for years and was even chairman for about 9 days prior to the Richardson years . What does he offer ?

Nothing apart from arrogance according to people I know who have done business with him.

He really didn't help himself when he brought Hoffman's credibilty into question.

The bloke hasn't got a clue.

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