Gary Hoffman makes official bid to buy Coventry City

[dutchman]

Former vice-chairman and life-long Sky Blues fan Gary Hoffman has tabled an official bid to take over Coventry City.



The high-flying banker has found potential investors willing to pump millions into the club to buy back an interest in the Ricoh Arena and build a promotion-winning team.

The 50-year-old submitted two bids – the first takeover attempt was rejected but he has gone back in with a second offer and is now awaiting a response from current owners Sisu and the board.

Hoffman insists he was reluctantly forced to reveal his hand after former director Joe Elliott – widely known as Mr Coventry City – stepped aside from his Life President status.

Sources close to Sisu say this was prompted because Elliott had been helping Hoffman bring new investors in.

Speaking exclusively to the Telegraph, Hoffman said: “On the back of the news about Joe Elliott’s position, I can confirm that on behalf of some serious investors, I have been in discussion with Coventry City chairman Ken Dulieu and, through him, the football club board about proposals to invest significant sums in the club.

“I was hoping that at this stage that these discussions would remain confidential but this ridiculous decision to relieve Joe of his responsibilities as Life President means that I have to confirm that those discussions are under way.

“A verbal proposal was originally made and turned down, and a more formal proposal has been tabled but that’s all I am prepared to say at this stage.”

Hoffman quit the board in March over concerns about the way the club was being run and immediately set about courting major new investors.

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Joe Elliott stands aside as Coventry life president



Coventry City life president Joe Elliott has been asked to stand aside because of his role in helping attract new investors to the Championship club.

Chairman Ken Dulieu says Elliott is involved with former vice-chairman Gary Hoffman's bid to take over the club.

But Elliot told BBC Coventry & Warwickshire: "They've asked me to step aside while discussions take place with the people that Gary has brought in."

Dulieu claims no formal bid has yet been tabled.

Hoffman added: "I have outlined an offer to the chairman and the board which they are discussing."

Elliott said he was not happy to have been withdrawn from his role although he does not think it is a permanent exclusion.

He said: "I'm disappointed. The board of Coventry City have asked me to step aside from my role as life president.

"There's a big difference between stepping down and stepping aside."

Speaking of the interest in the club, Dulieu said: "Gary Hoffman has made his position perfectly plain and we have expected him to make a formal bid.

"At present no such bid has been forthcoming, and we hope that any bid would be tabled directly to the club and not through the media or third parties."

Hoffman responded by adding: "Both Joe and I have helped SISU over the last two or three years, bringing much needed funds to the club. That's what we're trying to do again now.

"This is not a competition. We're just trying to bring in much needed investment.

"It is ridiculous to punish Joe for helping me or anyone else.

"The talks I've had with the chairman should be confidential in the interests of the club and potential investors.

"This decision on Joe forces some stuff out in the open which I regret."