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City Receive Hoffman Bid

23 Aug 2011 14:42:00

City Receive Hoffman Bid

Bid arrives The bid by Gary Hoffman and the consortium he has brough to the table for discussions about taking over control of the club from the current SISU backed board has now been received by the Sky Blues board, the Coventry Telegraph is reporting. The bid is understood to be for a £1 and was received this lunch-time. With the club owing money to SISU's bankers, it is understood that the current City board are looking to get more than £1 back in order for the loss making Hedge Fund to avoid incuring more debts. It is also understood that funding for rent of £1.5m to play and use the Ricoh Arena plus wages has been guaranteed for the rest of the season but if any potention buyer does not come up with a deal that they find acceptable, then the club with no assets will be liquidated.  


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