Date: 12th July 2011 at 8:41pm
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£20m to cover the club’s losses and £10m to buy a half-share in the Ricoh Arena are the terms that were on the table for a potential takeover of Coventry City according to Gary Hoffman, the former vice-chairman of the Sky Blues, who says he has seen two offers, one verbal and one written (although not on headed paper it seems) knocked back by SISU.

“I want to put the facts straight because most fans are fed up with rumours and I want to tell them where we have got to on this,” Hoffman told the Coventry Telegraph in an exclusive interview that appeared in the newspaper on Tuesday.

Outlining the credentials of the investors he is working with, Hoffman believes SISU’s preferred option at present is to hang on to the club, cut costs to the bone and wait for a ‘fairy godmother’ but with each passing month that that does not happen, administration draws closer.

Having also given his backing to Andy Thorn as manager it is a powerful interview by Hoffman, whose Sky Blues credentials are clear and whose current role outside football makes it unlikely he would be involved in the kind of fantasy takeover talk that we have seen from others in the past.

Whether it elicits a response from SISU (beyond the ‘superficial tweeting’ that Hoffman talks about) remains to be seen.