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Page last updated at 08:54 GMT, Tuesday, 12 July 2011 09:54 UK

Coventry City takeover bid stalls

Coventry City

Coventry City's former vice-chairman Gary Hoffman is frustrated that efforts to buy the club have stalled.

Hoffman told BBC Coventry & Warwickshire that potential buyers he has lined up are willing to invest £30m in the Championship outfit.

Two-thirds of that money would be used to buy out current owners SISU.

The rest would be ear-marked to acquire a share in the Ricoh Arena, which the club do not own, but the board insist they are yet to receive a formal offer.

Hoffman, who quit the Sky Blues in February because of disagreements about key decisions made at boardroom level, said: "The investors are people of high profile. They've got the money and can buy both the football club and acquire the appropriate interest in the stadium.

"I made a verbal offer. That was rejected which I understand.

"I made a more formal in-writing offer and I think that should be considered seriously by the club.

"So far it hasn't been and we're waiting in the wings."

Sky Blues chief executive Paul Clouting maintained the club is not for sale, and responded to Hoffman's claims by saying the offer had not been presented in the correct manner.

"If a formal offer is made to the club we have to go through processes like informing the Football League," he said.

"There have been meetings. There was a letter but it was on a plain sheet of paper. It wasn't headed and wasn't signed.

"Frankly anybody could write into the club and say I want to buy the football club.

"The note that was sent back to Mr Hoffman that said it can't take the offer seriously as the identity of the person wishing to buy the club isn't disclosed.

"On 1 July Mr Hoffman wrote to the club saying with sadness any offer has been taken off the table."

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