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Response to offer from Gary Hoffman

11 July 2013

Statement in response to today's offer from Gary Hoffman

Please see below a response to today's offer from Gary Hoffman regarding the Ricoh Arena:

“ACL's position to date has been that they don't recognise us as the Football Club's lawful owner and hence have consistently refused to talk to us so I don’t know what authority Mr Hoffman has to bind ACL into any future agreement.

"Besides which, there has been no detail behind these proposals which were only put to the Club by phone last night.

"We wouldn’t want to raise fans’ hopes given that the main source of income whilst playing at the Ricoh was ticket receipts and it certainly doesn’t make sense to describe the deal as an "offer to pay arena rent"” when actually the deal is a loan secured against ticket sales resulting in the club giving away a huge chunk of ticket revenues, our only revenue stream."

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