Hoffman bid withdrawn!!!!! (1 Viewer)

Forums New posts
CovLis86

CovLis86

Well-Known Member
Uh oh....

A takeover offer to buy Coventry City fronted by the Championship club’s former vice-chairman, Gary Hoffman, was unexpectedly withdrawn on Friday afternoon amid concerns over the provenance of its funding and the possible involvement of a businessman with links to West Ham manager Sam Allardyce.

A consortium put together by Hoffman submitted an offer to buy the Ricoh Arena side from current owners, the hedge fund Sisu Capital, last Monday. It is believed that bid was for just £1, with a promise of a further £30 million to be invested into the club, who have just one point from four games under Andy Thorn and sit 23rd in the Championship.

Coventry’s chairman, Ken Dulieu, subsequently released a statement indicating that the club still had “many questions” about the bid — including the identities of Hoffman’s investors, as yet undisclosed - despite detailed talks with the former Northern Rock chief executive in Burton-on-Trent last week.

Dulieu confirmed that Ken Bruce, a retired lawyer and a former chairman of the investment vehicle Investing in Sport, had been present at that meeting.

Bruce is listed as a director of both Game 8 Ltd and its subsidiary Cuju TV Ltd at Companies House.

Allardyce, manager of Coventry’s Championship rivals West Ham, is also listed as a director of both companies. Under Article 86 of the Football League’s rules, it is not permitted for “a person, or any associate of that person, who is interested in a Club” to be “at the same time interested in any other football club.”

Rule 86.2 runs: “A person shall be deemed to be interested in a football club if he, whether directly or indirectly...is involved in any capacity whatsoever in the management or administration of that football club; or has any power whatsoever to influence the financial, commercial or business affairs or the management or administration of that football club.”

Bruce told Telegraph on Friday that “nobody associated with this business has any intention of acquiring, in whole or in part, Coventry City.” He did admit, though, that he was present at Dulieu’s meeting with Hoffman as “an observer”.
Click to expand...

Taken from : http://www.telegraph.co.uk/sport/fo...wn-after-concerns-over-source-of-funding.html

So now what.... :'(
 
CovLis86

CovLis86

Well-Known Member
This is big news... but really not what I think any of us were expecting.

It looks like we are going to head to administration arent we.
 
Nick

Nick

Administrator
I dont see why him knowing big sam it makes him interested in another club?

This is probably what the cet were talking about, maybe tanned let his name slip for this very reason!
 
CovLis86

CovLis86

Well-Known Member
Sack Big Sam then. Hes got a job at West Ham now. Surely can ask him to take his name off the books for the sake of saving our club.
 
flammablepiss

flammablepiss

Facebook User
:O


Bugger!
 
Nick

Nick

Administrator
I don't see how it is that relevant..

Bruce has said "nobody associated with this business has any intention of acquiring, in whole or in part, Coventry City." so I don't see the issue.
 
T

Tonylinc

Well-Known Member
Nick said:
I don't see how it is that relevant..

Bruce has said "nobody associated with this business has any intention of acquiring, in whole or in part, Coventry City." so I don't see the issue.
Click to expand...
It now seems clear to me that the Orange bloke through the name of KB into the mix with the clear intention of scuppering any deal. Self preservation.
 
P

Pigeon

New Member
Hearts break simultaneously.. What now then?
Bye bye players, hello admin? Is it as simple as that as I don't see how SISU can continue to fund the club, their losing far too much money..or is there other options?
 
Nick

Nick

Administrator
I don't really understand what has happened...A guy at the meeting is linked to big sam, so now they can't proceed...

Something is fishy...
 
Gaz

Gaz

Well-Known Member
It was only ever a slim hope that Hoffman would buy Cov and sort things out, but at least there was hope.

Can't help but think now the best we can hope for is admin.

Hold on to yer hats ! It's gonna getting rough.
 
Sub

Sub

Well-Known Member
i think it is bullshit i think it will still go ahead (just of to sacrafice a few chickens):facepalm::facepalm::facepalm::facepalm::facepalm: and pray to every known god!!!
 
T

Tonylinc

Well-Known Member
Sub said:
i think it is bullshit i think it will still go ahead (just of to sacrafice a few chickens):facepalm::facepalm::facepalm::facepalm::facepalm: and pray to every known god!!!
Click to expand...
Hope your right mate because if not I cannot see any way past Liquidation.
 
AFCCOVENTRY

AFCCOVENTRY

Well-Known Member
This is all weird...

Why would the Telegraph get wind of this before everyone else? Odd things going on.

If Bruce was an observer (which is kind of weird anyway) plus if he is saying they have nothing to do with the deal then.... confused.com

My only other thinking is that what Ken has been going on about is that the principal investors are not there. Maybe having Ken Bruce has annoyed them as what is he doing there if he is not part of the hoffman consortium?

This has many twists but I doubt this is the end game....

more twists to come

:thinking about::thinking about::thinking about::thinking about::thinking about::thinking about::thinking about::thinking about::thinking about:
 
Sub

Sub

Well-Known Member
this is totally contradicts what i was told today i do not think this is correct and hope it is not !!! :thinking about::thinking about:
 
S

skyblue_rich

New Member
Just checked out the cuju tv company and big sam and ken Bruce are both directors. Obviously the tanned man knew something was up and leaked his name
 
Nick

Nick

Administrator
The guy who wrote the story is:

Rory Smith is a football reporter for the Daily and Sunday Telegraph in the north west, covering Liverpool and Everton, as well as Manchester United, Manchester City and the myriad other teams who make up English football's heartland.
Click to expand...

Weird how he would know about it first... Something is really strange.

No doubt we will hear about it soon. Could it be of SISU's doing? Just putting it out there....
 
Nick

Nick

Administrator
skyblue_rich said:
Just checked out the cuju tv company and big sam and ken Bruce are both directors. Obviously the tanned man knew something was up and leaked his name
Click to expand...

How does this break any laws though? I could understand if the companies owned other clubs, but they don't.
 
CovLis86

CovLis86

Well-Known Member
Godddd this is giving me a headache. dont know whther to laugh or cry. As ever, I guess we dont know all the facts, and anything could be happening.
Can you tell us what you heard then Sub? As a matter of interest.
 
AFCCOVENTRY

AFCCOVENTRY

Well-Known Member
Of course if they are not part of the bid then what is the problem?

Looks like Hoffman will have to reveal his cards...

Although... would Hoffman be so silly to... :facepalm:
 
G

georgehudson

Well-Known Member
If Mr. Bruce was there as 'an observer' then that is an irrelevance to being part of the consortium, has Mr. Orange decided to accuse GH of impropriety, either way this is a somewhat typical manoevre, to manipulate,
............. COME ON YOU TRUE SKY BLUES
 
AFCCOVENTRY

AFCCOVENTRY

Well-Known Member
Nick said:
How does this break any laws though? I could understand if the companies owned other clubs, but they don't.
Click to expand...

It doesn't as far as I am concerned.

They are not part of the bid...

WHAT i don't get is why would Ken Bruce be there as an 'observer'

Like watching a threesome in a room with a box of tissues... :jerkit:
 
S

Spagbol

New Member
Bruce has stated he is an observer and not interested in any bid for Cov???

So Hoffman brings along someone he knows with a bit of experience in sport management, Don't get where it transpires therefore that the takeover can't go ahead.

Hoffman being the shrewd cookie he is, would surely know that Bruces direct involvement would scupper any deal, he isn't that daft.....surely!!

I'm not saying it is definitely going to go ahead, but it is in my waters that this takeover WILL happen...and my waters never lie;) PUSB

PS

1-1 on Saturday
 
You must log in or register to reply here.

Users who are viewing this thread

Total: 2 (members: 0, guests: 2)
Top