It is all over. The investors have left Hoffman on his own.
GARY Hoffman’s bid to buy Coventry City has failed after his investors withdrew their support.
The company behind the high-flying banker and life-long Sky Blues fan are fuming after claiming there have been a number of breaches of confidence by the club about the identities of the £30million backers.
Members of the group, including high-profile people in football and the company’s chairman Ken Bruce, were contacted by a number of national newspapers yesterday and quizzed about their involvement by reporters.
And, although Hoffman insists that those people would have gone public once a deal had been struck, he says they wanted to retain their anonymity – other than to City’s directors and owners Sisu – while the process was on-going.
“It is with great sorrow that the investors told me yesterday afternoon that they are pulling out,” revealed the hugely disappointed Hoffman whose group have informed the club.
“I have kept them at the table a number of times despite bumps along the road but a number of confidences have been broken and that has culminated in some tabloid newspapers seeking more from the company and individuals involved.
"This is not any way to do business and although I regret it, I am not surprised they are pulling out.
“I think there was a great opportunity here that people were ready to invest much needed funding in the team and on the commercial side, and had started to have exploratory discussions on the stadium, but they have found it very difficult to have the right conversation.”
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