Source: FOOTYMAD
Administration Would Be Bad News - Hoffman
More from Mr Hoffman Gary Hoffman has said that administration if Coventry City could find any assets to place in administration would be a bad thing for the club. Speaking to the CT, Mr Hoffman said:“If Sisu found investment I would be the first to applaud them. “The board said that the players’ wages budget would be the same as last year but that is not the signal they are sending out. “As it stands the club will be looking at a number of options including cutting the wage bill drastically so that Sisu does not have to invest too much more, although getting to break-even will probably take nine months and an extra £4-£5million of investment. “This is not palatable for anyone and is the road Southampton went down. “Administration is bad news for everyone but some investors will be waiting for it but, for the time being, Sisu clearly don’t want that. "Rather they will hang on, manage month to month, reduce the wage bill and hope for a fairy godmother. In my experience they rarely come along. “So my investors are waiting in the wings but they have been frustrated with waiting for replies and with the reaction we got to what was a serious proposal of significant investment in the club. “Above all, I just feel sorry for the situation everyone finds themselves in. "I just hope for a good start to the season, although I know it will be difficult.”
