Hoffman will pay £1 for the sky blues if agreed (3 Viewers)

chiefdave · Jul 12, 2011

isn't the £10m just for 50% of ACL, in effect 50% of the lease. The council will still own the freehold and 50% of the lease.

don't think what it cost is relevant really, what would it's market value be? would also be intresting to know how the market value would be hit if the club ceased to exist. Surely a football ground isn't such an attractive venue if there's no football team!

rob9872 · Jul 12, 2011

Great location so I guess it would depend at what cost it could be turnred into a different multi purpose permanent venue.

LarryGrayson · Jul 12, 2011

get a decent rugby team in there hold more concerts move the speedway team there get another football club in there loads of things you could do rofl

Platt_The_Donkey · Jul 12, 2011

skybluebeduff said:
I've just tweeted Brody quoting what the CET has said about Hoffmans offer being rejected, due to it not being on headed paper. I can imagine he will reply in another 10 days time........ The guy is a CLOWN.

I have tweeted the same, saying the headed paper excuse is a load of sh*t, and for him to do the decent thing and get out of our club and take his merry men with him. :blue:

SkyBlue_Bear83 · Jul 12, 2011

Ok so I don't really understand the business side of football, but from that article it looks like the offer has been withdrawn now until Sisu approach Hoffman?

Brilliant admin is looming

SkyBlue_Bear83 · Jul 12, 2011

:blue::blue::blue::blue::blue:

Disorganised1 · Jul 12, 2011

Looks like Hoffman is trying to force the issue. This is the start of a protracted hostile take-over, it depends if SISU will dicker ~ currently they ae saying no. However if they go into administration they it will be decided by an outside adjudicator, which SISU perhaps think will get them more money. They aren't bothered about a 10 point deduction after all.

TheParsonsHose · Jul 12, 2011

If Hoffman really wanted to help the club he would not have just withdrawn the bid surely...You either want it or you dont and this seems like more bollocks to me.:claping hands:

CovKingChris · Jul 12, 2011

Sorry if this has already been said, too many posts to read. But after reading articles today about the offer. It seems to me that the bid is actually worth £30,000,001 to SISU, as they have only lent the money they have supposedly invested to the club. Therefore, Hoff-meister would be paying them £1 for the paperwork & giving them back their £30mil.

Sutty · Jul 12, 2011

Hoffman's bid, if it wasn't on headed paper or signed, has no legal basis whatsoever. SISU are absolutely right to turn it down for this reason.

If they accept a bid with no legal weight to it, it shows GH SISU's intentions, allowing him to adjust his bid accordingly. Oldest trick in the book from GH, and it hasn't worked.

Nonleagueherewecome · Jul 12, 2011

So you believe SISU when they say that?

sky blue john · Jul 12, 2011

CovKingChris said:
Sorry if this has already been said, too many posts to read. But after reading articles today about the offer. It seems to me that the bid is actually worth £30,000,001 to SISU, as they have only lent the money they have supposedly invested to the club. Therefore, Hoff-meister would be paying them £1 for the paperwork & giving them back their £30mil.

wrong !!!!!!!!!

DazzleTommyDazzle · Jul 12, 2011

Sutty said:
Hoffman's bid, if it wasn't on headed paper or signed, has no legal basis whatsoever. SISU are absolutely right to turn it down for this reason.

If they accept a bid with no legal weight to it, it shows GH SISU's intentions, allowing him to adjust his bid accordingly. Oldest trick in the book from GH, and it hasn't worked.

Why does it have no legal basis?

I've been involved in the sale and purchase of many companies and I can't remember a single occasion where "the bid" was made in a formal way until a price had been agreed in principle.

@richh87 · Jul 12, 2011

DazzleTommyDazzle said:
Why does it have no legal basis?

I've been involved in the sale and purchase of many companies and I can't remember a single occasion where "the bid" was made in a formal way until a price had been agreed in principle.

I'll have to bow to your experience there mate - I don't have a clue about such things!

I think Hoffman's backers may well come as a shock when revealed. He's already said they're well known. Geoffrey Robinson involved again maybe???

Why can't SISU give an indication of what figure they'd accept without bloody headed paper and the backers' signatures?!

I just want this to happen quickly - before another season of struggle is upon us.

shmmeee · Jul 12, 2011

The whole thing is very strange:

Hoffman's insistance on doing business through the press, vague figures for what has been offered, what he would do if he took over, etc don't exactly instill confidence. However he says the right things and is (apparently) Sky Blue at heart.

SISU not addressing this mortgaging the future claim, refusing to accept that investment in the team is needed (funding losses is NOT investment IMO), quibbling over things like whether the bid was on headed paper.

As usual nothing is simple with this club, and nothing is as it seems. I foresee another long season, with probably admin worries and us being no better off at the end of it than we are now. So business as usual!

Nonleagueherewecome · Jul 12, 2011

One of the strong rumours was a "very surprising" person, who has never been involved in football before.

Start the guessing games here!

I want it to be Stephen Fry but he's a Norwich fan...Judi Dench? Jackie Chan? Arthur Smith? David Blunkett? Gok Wan?

blueflint · Jul 12, 2011

lets get behind the hoff and the team we need investment we need success lets go for it

Disorganised1 · Jul 12, 2011

I just hope GR is nowhere involved in it.

Maybe its Brian McFadden come back ? Or what about Eddie Jordan, or Clive Owen ?

Nick · Jul 12, 2011

Joe Dhinsa?

fanta80 · Jul 12, 2011

Nonleagueherewecome said:
So you believe SISU when they say that?

Hoffman also confirmed this because the investors didnt want their names being leaked by people if the document was copied. So do you disbeleive him also?

sky blue john · Jul 12, 2011

Sisu are holding out for £1.50

ps sorry if anyone has already used this pun, i can't be bothered to read all 1 million posts on the subject.

@richh87 · Jul 12, 2011

sky blue john said:
Sisu are holding out for £1.50

They need to be careful they don't price themselves out of a deal then

sy79 · Jul 12, 2011

Didn't "P Diddy" want to buy a English football club a few months back? Not that Coventry would improve his "street cred"! Lol

sky blue john · Jul 12, 2011

@richh87 said:
They need to be careful they don't price themselves out of a deal then

You know how these type of negotiations go they will haggle for a few weeks then end up at £1.20

Sir Digby Chicken Caesar · Jul 12, 2011

I loved the comparison of communication with the fans as 'superficial tweeting'.

Tonylinc · Jul 12, 2011

Something is not right here. Firstly, it matters not whether offers are on letter-headed paper or not; it is the "intention to create legal relations" which is important. Secondly, although GH seems genuine I am concerned that he is not prepared to reveal to SISU his backers and can therefore understand their relunctance to do any business with him. At the end of the day however SISU clearly want to get out of the club so why the hell don't all parties get around the table and thrash out a deal!

Nonleagueherewecome · Jul 13, 2011

Can anyone honestly say that they know who SISUs investors are? There's lots of talk about "Hoff won't say who the money men are!" -including by Clouting, natch-wheras that is exactly the situation with SISU, and always will be. So whats the difference?

Nonleagueherewecome · Jul 13, 2011

fanta80 said:
Hoffman also confirmed this because the investors didnt want their names being leaked by people if the document was copied. So do you disbeleive him also?

C'mon, it wasn't rejected due to that, its utter bullshit! Anyone who thinks that is being naive. It's pretty much SISU's (and in particular BRODY) way of saying "get bent, eh?". For Clouting to say "we don't know who they are" is rubbish, GH makes clear that Ken knows exactly who the investors are. And more to the point, if someone makes a bid for your business then you will at least look at the figure. Which SISU are refusing to do. Without even some vague feedback on the figures, what's Hoffman meant to do? Yet everyone seems all too happy to believe the people who just mortgaged season ticket sales and prize money just to get them to the new season.

It reminds me off my old boss. If he offered someone a job or a pay-rise, he'd just write the salary on a piece of paper and hand it to you to see if it was "ballpark" acceptable. And if not, it's be the starting point for negotiations. Although I always just said yes, then he'd get a contract drawn up. I'm sure even very formal business negotiations have to have a starting point

Clouting has the gall to accuse Hoffman of "just smoke and mirrors". Well he should know a bit about that...maybe he should agree a public figure with Brody on how much we're losing a month instead of putting conflict numbers out there! Oh, sorry, no-they're not losing 500k a month, they're "investing" it! Because it's an investment, they get it back later, right? It isn't a loss at all!

Godiva · Jul 13, 2011

Nonleagueherewecome said:
C'mon, it wasn't rejected due to that, its utter bullshit! Anyone who thinks that is being naive. It's pretty much SISU's (and in particular BRODY) way of saying "get bent, eh?". For Clouting to say "we don't know who they are" is rubbish, GH makes clear that Ken knows exactly who the investors are. And more to the point, if someone makes a bid for your business then you will at least look at the figure. Which SISU are refusing to do. Without even some vague feedback on the figures, what's Hoffman meant to do? Yet everyone seems all too happy to believe the people who just mortgaged season ticket sales and prize money just to get them to the new season.

It reminds me off my old boss. If he offered someone a job or a pay-rise, he'd just write the salary on a piece of paper and hand it to you to see if it was "ballpark" acceptable. And if not, it's be the starting point for negotiations. Although I always just said yes, then he'd get a contract drawn up. I'm sure even very formal business negotiations have to have a starting point

Clouting has the gall to accuse Hoffman of "just smoke and mirrors". Well he should know a bit about that...maybe he should agree a public figure with Brody on how much we're losing a month instead of putting conflict numbers out there! Oh, sorry, no-they're not losing 500k a month, they're "investing" it! Because it's an investment, they get it back later, right? It isn't a loss at all!

I think you need to realise that this bid is a hostile takeover attempt. In that circumstances you play everything by the book.
If Hoffman had gone to Clouting and said that he and his consortium was thinking of co-invest in the club and become part owners with SISU everything written on a used napkin would be considered acceptable. But in this situation every single detail must be correct, the channels used must be correct, the wording used must be correct - and they all know it.

BurbageSkyBlues · Jul 13, 2011

Perhaps the issue is that GH wants to use his money to invest (mainly in the team and the stadium), whereas Sisu want to service the (their?) debt, which is wasting good money after bad.......unless you happen to be a creditor as well.......

C'mon guys, we can see who is looking after themselves, there is no further investment from sisu, they are just getting the club in more and more debt, such as this latest stunt to raise money, just to buy time

oldskyblue58 · Jul 13, 2011

"Oh, sorry, no-they're not losing 500k a month, they're "investing" it! Because it's an investment, they get it back later, right? It isn't a loss at all! "

OK quick accounts lesson. SISU are putting money into the club at the rate of a reported £500k per month to cover the day to day cashflow deficit of the Club. They are putting it in as a loan not a gift nor taking on the loss. The loss is not the same as the cashflow deficit as the annual losses include the amortisation of the players contracts per year(doesnt involve any movement of cash flow in year), profits or losses on sales of players (difference between value in accounts of a player and amount sold for - the actual cash flow would be the full proceeds less agents etc), depreciation of any equipment (again no actual movement of money involved)etc

Bottom line cashflow is not same as profit or loss, as for being "investment" I tend to agree with you that is an incorrect description because that implies it can be written off and SISU quite clearly show it as a debt to them in the accounts so it is a loan. As per the 2010 accounts these loans stood at £24m and as such are creditor of the business and due for repayment.

Just for the record 2009 accounts there are items that are payable (to the likes of Robinson i would guess) to a max of £6m if the club gets promoted to Premier League prior to end of 2012/13 season - so the CT etc saying certain investors lost all their money isnt quite true

Both sides are playing smoke and mirrors - frankly I am not impressed by silly games like that - get on and do the deal or dont but get it sorted so we the fans know where we stand

OyJimmy · Jul 13, 2011

^ I agree. It's rather like buying a house. First you negotiate then you make an offer. SISU just seem to want the offers without the negotiation.

Hoffman will pay £1 for the sky blues if agreed (3 Viewers)

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