Hoffman - CCFC could go into administration or SISU could get rid of more players (1 Viewer)

OyJimmy · Jul 13, 2011

See: http://www.coventrytelegraph.net/co...ventry-city-says-gary-hoffman-92746-29036472/

SISU playing mind games with Hoffman? Probably not a good idea as I think he'll just wait for the club to go into admin. I would.....

LarryGrayson · Jul 13, 2011

if he wates for them to go into admin he mite be outbid by someone else

ccfctommy · Jul 13, 2011

Am I the only one that thinks that Gary Hoffman should quiet down a bit? He's been very quote happy in the last 24 hours!

Also, in the article he says 'administration would be very bad news for Coventry City'.

Well, thank you Captain Obvious.

ashbyjan · Jul 13, 2011

Problem is Tommy that some fans seem to think that admin would be a good thing - pretty sure they simply don't appreciate the full ramifications of it - and Hoffman is simply pointing out that it isn't some sort of panacea nor is he waiting for it to happen before making a bid, again as some have suggested.

Many have moaned that Hoffman went all quiet and where was his bid etc, he comes out and tells the fans what's going on as is slated for making too much noise - there is no pleasing some people

oldskyblue58 · Jul 13, 2011

the article fails to mention that the Championship are looking to adopt new League rules that mean wages will have to be cut so that ALL clubs live within their means. 2010 accounts showed we paid out more in wages than we had income ! We cant go on doing that!

I suggest that there is giving out info to the fans and there is public posturing and right now both sides err on the latter

olderskyblue · Jul 13, 2011

oldskyblue58 said:
the article fails to mention that the Championship are looking to adopt new League rules that mean wages will have to be cut so that ALL clubs live within their means. 2010 accounts showed we paid out more in wages than we had income ! We cant go on doing that!

I suggest that there is giving out info to the fans and there is public posturing and right now both sides err on the latter

I don't think SISU are posturing, as they didn't want anything to be public about this (as has been their remit since they took us over) so all the posturing is down to Hoffman.

That concerns me. Currently, there is no bid for SISU to consider, and frankly, if I received a bid for my business that had no signature or wasn't on business headed paper, I would treat it with the same contempt SISU have. I am surprised that Hoffman was surprised by this.

I am also concerned by who is behind this bid. I want SISU out, but not at any cost. If a certain local MP was involved, I would consider this to be a frying pan into the fire situation, and with the headlines from him a week or two ago criticising SISU, and Hoffman mentioning him in his article in the telegraph, and the "if we get to the premier league" clause, smacks of him being involved. He would have more reason than most for a deal to be done without his involvement being known.

As Hoff has taken this to the media, I think he needs to answer questions on this before he can expect the backing of the fans. Right now he is relying on the "SISU" out feeling to get everyone backing his bid.

I think we should be cautious as to how much support we give this until more information is known.

(I don't post much, so hopefully no confusion with a similarly named poster)

Lets all sing together · Jul 13, 2011

So what is actually likely to happen then ?

will they sell our best - Juke , Clingan, Turner, etc.. then put club into admin ?

It's sounds like we're in so much of a decline something has got to happen soon ? the've sold that other buisness that Ranson made and mortgaged the ticket sales so it is obviously desperate, will they do the above then pull out ? surely after they've sold our best players there's nothing left so off they go ?

Moff · Jul 13, 2011

Here is my simplistic take on things for what it is worth.

1) Rightly or wrongly, some fans would welcome administration as SISU would be gone, and it would force the hands of those that may want to take over the club.

2) I dont think Geoffrey Robinson is involved in the Hoffman bid. What I do think is that as both passionate City fans they are using public relations to attack SISU, and good for them.
In Robinsons case I can see why, he wrote off 20 million, for a pack of lies from a hedge fund who are now refusing to do the same.

3) We have to live within our means whatever happens, and may have to sell our better players, and bring on the youngsters, as our wages are too high. High wages and known players count for nothing, look at Freddy compared to someone like Ben Turner who has come through from the youth set up on low wages and unknown.

4) How the hell have our wages been so high with some of the players we have had, as the football has at best been mediocre. Some of the players we have had have been paid handsomely but have not been up to scratch.

Personally i want SISU out, they have no clue, no plan, and are making the club a joke from top to bottom. I would love a takeover as we cant surely have worse than SISU.

Lets all sing together · Jul 13, 2011

There's actually some serious momentum gathering finally to get SISU out, let's keep it up.

Godiva · Jul 13, 2011

Lets all sing together said:
So what is actually likely to happen then ?

will they sell our best - Juke , Clingan, Turner, etc.. then put club into admin ?

It's sounds like we're in so much of a decline something has got to happen soon ? the've sold that other buisness that Ranson made and mortgaged the ticket sales so it is obviously desperate, will they do the above then pull out ? surely after they've sold our best players there's nothing left so off they go ?

If they sell the players you mention, there will be no need for administration.
As mentioned by OSB58 - they sold Prozone as it was not a core business and the driving force - RR - is gone. They sold it for probably equivalent to 10 years profit. Good business!
The loan against season tickets has also been explained in details - it's normal practise.

cloughie · Jul 13, 2011

and what will be left for sisu to borrow against or sell to keep us afloat for the future loss making months? Doesn't sound like good business practice to me, more like desperately trying to stay afloat until an acceptable bid comes in.
With the best players sold it would it would mean we would be without any assets, without any money, so what would the point of being in business?

derbyskyblue · Jul 13, 2011

ccfctommy said:
Am I the only one that thinks that Gary Hoffman should quiet down a bit? He's been very quote happy in the last 24 hours!

Also, in the article he says 'administration would be very bad news for Coventry City'.

Well, thank you Captain Obvious.

Its all part of ratcheting up the pressure, expect more of the same. Opening salvo's etc. I think it will come down to which side of the fence your on.

TheParsonsHose · Jul 13, 2011

I am not for having this conversation too much in the public eye. Agreed, Hoffman should quiet down now and deal with SISU out of the press.

A bit too much business posturing for my liking now.

mattylad · Jul 13, 2011

Long way to run on this one, but let me tell you that SISU are not going to do a Robinson and sell the club for a £1

Nonleagueherewecome · Jul 13, 2011

olderskyblue said:
I don't think SISU are posturing, as they didn't want anything to be public about this (as has been their remit since they took us over) so all the posturing is down to Hoffman.

That concerns me. Currently, there is no bid for SISU to consider, and frankly, if I received a bid for my business that had no signature or wasn't on business headed paper, I would treat it with the same contempt SISU have. I am surprised that Hoffman was surprised by this.

I am also concerned by who is behind this bid. I want SISU out, but not at any cost. If a certain local MP was involved, I would consider this to be a frying pan into the fire situation, and with the headlines from him a week or two ago criticising SISU, and Hoffman mentioning him in his article in the telegraph, and the "if we get to the premier league" clause, smacks of him being involved. He would have more reason than most for a deal to be done without his involvement being known.

As Hoff has taken this to the media, I think he needs to answer questions on this before he can expect the backing of the fans. Right now he is relying on the "SISU" out feeling to get everyone backing his bid.

I think we should be cautious as to how much support we give this until more information is known.

(I don't post much, so hopefully no confusion with a similarly named poster)

Firstly, I like your user name. Made me smile

Second, re: "the bid": no, but if the figure scrawled on the piece of napkin was of a level of interest to you, then you'd tell them to come back with it in writing-not say "Well, I can't accept that-it's scrawled on a piece of napkin!" The whole peice of paper thing is a red herring. They're just saying they aren't interested. I would suggest because the bid is not acceptable to them. But they won't just say that, as they're the "proper businessmen" and are trying to portray Hoffman as a clown. I think the big shakers in UK finance may beg to differ on that view of him.

Nonleagueherewecome · Jul 13, 2011

oldskyblue58 said:
the article fails to mention that the Championship are looking to adopt new League rules that mean wages will have to be cut so that ALL clubs live within their means. 2010 accounts showed we paid out more in wages than we had income ! We cant go on doing that!

Agreed, there has to be a change. But we are going to be one of around 2-3 clubs "living within our means", which means it's no longer a fair playing field and we will struggle. To a lot of fans-maybe people who don't come on here-AT and the players will be the ones to blame for that.

If a salary cap was brought in now, I'd be fine with what SISU are doing as all clubs would have to do the same. But they are doing it because the investors are not prepared to lose any more money financing a club that is doomed until it owns at least some of it's stadium-as much to cut the rent as to open the revenue streams. It won't solve our problems, it will just lead to us falling down the leagues until we have a side we can afford-in League 1 or 2.

So we need a new investor, indeed new owners, who are prepared to spend/lose money for the next 2-3 years at least. If we can't get that, we are a lower league club. Much as Wigan and Fulham were before they got bought by rich people. If only there was such a potential new owner about :thinking about:

Tankie · Jul 13, 2011

ccfctommy said:
Am I the only one that thinks that Gary Hoffman should quiet down a bit? He's been very quote happy in the last 24 hours!

Also, in the article he says 'administration would be very bad news for Coventry City'.

Well, thank you Captain Obvious.

Take it with a pinch of salt,...its only.."The tales of Hoffman"

:claping hands::claping hands::claping hands::claping hands::claping hands:...The Tank

malta900 · Jul 14, 2011

I'm sure many people will disagree with me but IMO since there isn't a wealth bussiness man lining up to buy the club the 1st thing a business needs to do is break even, to do that we need to lower the wage budget as the main expendutre. Just need to pray that AT and (the small amount of) players can keep us in the league this season while trying to break even. Even though iv'e heard many fans want to boycot the 1st game of the season i believe that is a bad idea as we need our fans to focus on backing the team and packing the stadium to raise the atmosphere, and try help the income of the business.

TommyAtkins · Jul 14, 2011

ashbyjan said:
Problem is Tommy that some fans seem to think that admin would be a good thing - pretty sure they simply don't appreciate the full ramifications of it - and Hoffman is simply pointing out that it isn't some sort of panacea nor is he waiting for it to happen before making a bid, again as some have suggested.

Many have moaned that Hoffman went all quiet and where was his bid etc, he comes out and tells the fans what's going on as is slated for making too much noise - there is no pleasing some people

Wise words, ashbyjan

It is reassuring to see a lot of sanity out there prevailing regarding current events. Too many people are slavishly following Hoffman's line and condemning SISU out of hand, with having any regard to reality.

All this hysteria about protests and "SISU out" is unhelpful.

I am disappointed that Hoffman is playing "chicken" with our club, by refusing to engage with SISU but I sincerely hope this is just public rhetoric and that real progress is being made behind closed doors.

Hoffman - CCFC could go into administration or SISU could get rid of more players (1 Viewer)

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