SydneySkyBlue
Member
I refer you to CCFC's post.
We're all passionate about City. I don't think any of us intend to create divisions amongst the fans. We all just want what we think is best for our club.
Maybe so, but there,s no excuse for it on either side. I thought rich's post was well out of order and yet again shows the divide between fans which the whole SOC thing has widened rather than bringing us all together.
The post was unhelpful and unnecessary and was nothing more than an attempt to create more "them and us" divisions.
I refer you to CCFC's post.
We're all passionate about City. I don't think any of us intend to create divisions amongst the fans. We all just want what we think is best for our club.
The rumour mill is doing overtime chaps. Does anyone on here believe the one about Onye being replaced on the board by Joy Sapalla? If this one turns out to be true she may have ousted Igwe from his current role due to the debacle that happend last time their was an offer on the table to buy the club. Supposition it may be but may be but if the head honcho is now involved to oversea negotiations this time, this may be the end game for SISU (however long it takes)
No. Their apathy is inexcusable.
Possibly should've saved it for another thread though.
Come on Hoff!
Now if true then the announcement has actually got more meat on the bones than we already dared to think?
If Hoffman takes over it will now be in time for next season. Hopefully a full pre season with the cash in hand for players regardless of the division we are in.
No takeover will be complete in the next month or so.
If Hoffman takes over it will now be in time for next season. Hopefully a full pre season with the cash in hand for players regardless of the division we are in.
No takeover will be complete in the next month or so.
I'm sorry to say I disagree. Read the posts by valiant and Rich and then maybe you will reconsider. They certainly do want to cause friction. I have the up most respect for Jan, Brinner and SOc but none at all for those who attack fans for attending matches and supporting their team.
It is fans like those two who seem to thrive on the friction it causes.
My take is...
1) They are talking about a transition process
2) Hoffmans backers to replace SISU, but SISU want their money back before they will leave
3) The Council will negotiate with Hoffman over the Stadium, but they won't speak to SISU
I've a feeling this will end up with SISU managing the club till it is promoted from league one, but Hoffmans guys buying out Brody in the first instance and putting sufficient money in to get promotion next year.
intresting read
The recent past hasn’t been the easiest of times for the fans of Coventry City, four managers have been and gone in the four years under the ownership of the Ray Ranson led SISU group and terminal decline has set in. The club now lies bottom of the league under the much maligned Andy Thorn, a Thorn in the side of many supporters (I’m sorry), and blighted by financial trouble.
The club has attracted a storm of disillusionment with its supporters who have protested tirelessly for the removal of SISU, the London based investment company, and led mass-protests back in Auugust and the general feeling since then, as Thorn has led them to just four wins since then, is one of such endearing sentiments as “Thorn out” and F**k SISU”.
However, this could all be about to change as Gary Hoffman, who used to be a Vice-Chairman on Ranson’s board, has returned better than ever and ready to talk business after his last takeover attempt ended sourer than the chicken from the local Chinese.
The fact that SISU have merely agreed to even talk again to life-long City supporter Hoffman, not to be confused with Dustin of course, is big news and even though it remains to be seen if his bid can persuade the shared-investment seeking SISU to accept a full take-over, it could provide a cloud-free future for the Sky Blues. Excuse the pun.
Hoffman’s first approach earlier in the season was understood to be worth above a neat little sum of £30million and if that wasn’t enough, £10m set aside for investment in players, £10m to fund on-going losses and another £10m towards the purchase of half of the Ricoh Arena stadium.
This would be more than what Coventry have seen under the scrooge-like SISU group who have still not been visited by the three ghosts and have only allowed Thorn to loan in 37 Herman Hreidarsson and Manchester City’s youngster Alex Nimely to fight the relegation battle which is looking more and more like a mountain climb with every passing game. They have also had to see the departure of Lukas Jutkiewicz, the football writer’s dream, to Middlesbrough for £1.3 million after hitting nine goals so far this season.
With the help of Hoffman, who has made an approach to begin preliminary talks over a possible investment, they may be able to buy players of their own rather than beg, steal and borrow. Rather than all the antipathy, there could slow be brighter skies above the Ricoh rather than the blue air from “f**k SISU” and all the anti-ownership banners that have blackened this well-reputed club.
I honestly believe these talks will fail. Hoffman will be told that SISU are looking for investors and to remain in charge.
End of, unfortunately.
SISU said they would fund us until the end of this season.
A full takeover does not mean SISU being paid off fully before they go. This could mean any loans being kept on at the same rates as they are on the books now. This will be one of the stumbling blocks. Could they be paid off at a percentage per year, then fully when we reach the Prem? So many multiples of this that we might as well stop guessing now.
For the last couple of seasons their income from us has gone down. If we go down then this would be a disaster for them. They will know this. Are they willing to take the gamble on us staying up and then getting promotion without investment? They will know it is time to cash in as many chips they can get their hands on.
They said they want investors to help them.......
I'd like to point out that in no way do I represent the views of SOC
In fact, with discussions now ongoing, now is the time to pile on the pressure.
Actually they said they had SECURED funding for the season. I think you have mis-quoted them on this a few times.
If a full takeover results in all or parts of the loans remaining at the club, then I think it won't be at the same rate as now. Sisu will surely start charging interrests and this mean a big difference to the operational cost structure. This is one reason I don't think a full takeover will happen.
I have shown in previous posts that relegation will mean the club (whoever owns it) will have to comply with FFP regulation and cut wages to 55% of the total income. That alone will result in max yearly losses with current overheads at £1.5m. So will sisu 'find' £1.5m to get us through next season or will they write off a lot more and walk away?
I think they still do and that it is the most likely outcome.
So they have secured funding for another season. So does this mean they are not funding us for another season? Can you tell me who is funding us then if it is not SISU.
The negotiations will be mainly about how much is owed to who, how it will be paid back, by who and at what rates. I also used the word "could be" You do not know much about this. I do not know much about this. Is there anyone on here that knows much about this? This is why the negotiations will not happen overnight.
Anyone can show in previous posts what anyone thinks. You say that SISU are not funding us now, although they have secured funding for this season :thinking about:. Then you say they will fund us for about 1.5m if we go down. Sorry to say but there are contradictions here.
Finally, wanting to keep hold of the club and finding investors willing to put money into our club when they will never own it is a bit of a longshot. Does it mean what they say is what they mean? How many things have they said they would do and they have kept to? How many things have they said and not kept to? And you still believe what they say
If they need another £1.5m or even £2.0m to run the club next season in league 1, then they should be able to find that cash from selling Cranie, Clingan, Keogh and/or Thomas, Bigi, Christie, Clarke or whoever it will take to raise the money (if they are smart, they will use THIS window to find that cash as the players value will be less in league 1). To sisu, selling players to negate the cash flow deficit is a far more desireable solution than to take a massive hit on the loans and walk away.
I bet SOC are mightily relieved to hear that. You don't do their cause any favours with your attitude.
Nonsense. Now is the time to let the money men deal with it behind closed doors without any distraction.
Now is the time to support the team and help us get out of the relegation zone, that is the most important thing.
Tommy,
One thing is what anyone (in this case sisu) hope and work for, but it's not always you get what you want.
Sisu have been actively looking for co-investors the last year (maybe longer), but haven't succeded.
As long as they don't get co-investment - or better yet, a complete buyout - then they are stuck to one option: Get the books balanced.
When the club is self-sustainable the value goes up AND new investors gets much more interested.
And even in league 1 the club will be much more attractive to investors if run at a profit than today in the Championship losing money consistently every year.
while browsing the net found this list of people wonder if they have anything to do with the investors in CCFC seems to be a couple of names that are familiar
http://investing.businessweek.com/r...d=24225471&previousTitle=Sisu Capital Limited
also this list
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=39509503
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