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Ric Flair

Ric Flair Live & Direct on BSLB Podcast

By Ric Flair, in Leicester City Forum

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CosbehFox

CosbehFox

Posted
Posted
5 minutes ago, ronnup said:

Interesting that Darra Mcanthony thinks hes absolutely miles off for the reasons stated, assets etc.

It's difficult to just put a value on Seagrave or King Power though and the expectation be that it is reckoned into any purchase price. 

 

Seagrave will have a land value - but you wouldn't be able to sell it at its market price because you have a football training ground on it and any purchaser would want to factor conversion costs.

 

So the reality is that Seagrave has only a single occupant in the world other than another East Midlands club. Therefore it doesn't really have an outstanding value attached it because your ability to sell the land is limited or fraught that major investment. There's no factors like service charge or similar where you can support the expenditure on maintenance, that's completely the sole occupier's cash. 

 

This is similar a lot of cases in how shopping centres purchases work in the country at the moment. They are a failing asset losing money and not returnable to their former footfalls or occupancy rates. So any investor is thinking what's my added value where I can maximise value - it's conversion into accommodation but that comes at a mighty cost and a cost they want to see the purchase price.

 

What realistic alternatives is there on the property assets we own? Seagrave may be could split with half becoming hotel/golf complex similar to St Georges Park. The stadium is pretty much stuck - and needs a bit of expenditure on it.

 

Property assets in football clubs are really complex; for example, Brentford were bought for just £3 million by Matthew Benham but the land they had at Griffin Park was probably worthy so much more. 

 

 

 

  • Like 1
FoxTrott

FoxTrott

Posted
Posted

Respectfully I think Jord should take a break from hosting for a while. He is clearly not enjoying it, and it feels a bit like a negative anchor which hangs over pod. Just my opinion.

  • Like 2
Rubbersoul

Rubbersoul

Posted
Posted
39 minutes ago, FoxTrott said:

Respectfully I think Jord should take a break from hosting for a while. He is clearly not enjoying it, and it feels a bit like a negative anchor which hangs over pod. Just my opinion.

Yeah honestly a bit worried about him. We all love a moan but he seems like he’s struggling a tad

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Stadt

Stadt

Posted
  • Popular Post
Posted (edited)

I'm usually pretty pessimistic but idk I just feel this is a club with proof of concept as a top 7 regular that's now at its lowest ebb. The only reason we're so shit is because of the ownership which is fixed with a takeover. Any new owner wants some upside and as club we have that with an under-served fanbase, planning permission for stadium expansion, elite facilities and a productive academy. Clubs spend a fortune trying to chase these and we already have them in place.

 

The fundamental problems are the debt, the current owner and his executives. By year 0 to year 3 of new ownership all three should be more or less sorted, or the debt at least refinanced and on the way to not being a problem.

 

The problem with buying say Brentford, Brighton or Bournemouth is their success is largely because their owners are super savvy and you naturally don't get them with the club. We're the total opposite, a total blank canvas because we've in some way just not functioned for 3/5/10/15 years. How long has the ticketing system been crap? How long has the merchandising been crap?

 

An astute owner could have us in the PL in 5 years. Which is why I think a strong multi-club operator would be interested you get a Europa League tier club (players and backroom aside) for the price of an upper Championship club, plus access to insane name recognition, a strong academy and elite facilities. You can't buy the name recognition for the price anywhere else, a Seagrave level facility costs the price of a whole club and fans are locked out currently and PP is sat there already.

 

Sometimes the motivation to own a club is more than just financial too and you'd rather have genuinely famous (if downtrodden) club one that a much sounder, but non one.  The sort of buyers that would fancy it would probably be one of 5 (?) categories:

 

1. Proper tycoon: Arabs, US businessman, an other far eastern owner (please no)

2. Local business owner/consortium 

3. Multi-club operator

4. Asset-stripper 

5. Buy to flip investor (Mike Ashley etc)

 

I think 1-3 are more likely because the debt puts off 4 to 5. #3 Gets access to things you just can't feasibly buy with clubs elsewhere.

 

Edited by Stadt
  • Like 6
Ric Flair

Ric Flair

Posted
  • Author
Posted
1 hour ago, FoxTrott said:

Respectfully I think Jord should take a break from hosting for a while. He is clearly not enjoying it, and it feels a bit like a negative anchor which hangs over pod. Just my opinion.

Jord doesn't host, that's Jake. We all check in with Jordy regularly and will continue to do so, but the show goes on. We leave no stone unturned in our negativity 😂

  • Like 2
  • Haha 2
AKCJ

AKCJ

Posted
Posted

Echoing the sentiment re. Jordan.

 

I get that the last 4/5 seasons has been pretty much hell for Leicester fans but surely you've got to have something to look forward to. I know that the pod has risen in popularity whilst the club has plunged to new depths and that a cathartic moan is likely a large reason for that but it doesn't seem healthy to immediately look to the absolute worst possible outcome for everything. I don't mean to sound like i'm burying my fingers in my ears whilst shouting "it'll be fine, it'll be fine" but there are some things worth looking forward to. Mostly the fact we've gotten rid of about 90% of the players we all detest and that finally it looks like we'll be able to enjoy the academy products at a level they should be able to do well at.

 

Hope he's alright and i'm sure he is.

 

I've enjoyed both Charlie Methven episodes. I like how real he is about the position the club is in. I think that the club would have you believe everything is rosy and the pod would have you believe we're 5 seconds away from going bust but the reality is more in the middle (admittedly, much closer to the pod's view on things) and he's very good at pointing things out to us in a completely neutral and professional manner.

 

It's clear we're in for a rough time with off the pitch business but i'm really excited for the new season and having a more positive relationship with the players. I think we'll start to feel more like a club again if that were to happen. I just hope that the fans keep their minds focussed on getting rid of this ownership and board, even if we're flying in the league.

  • Like 2
les-tah

les-tah

Posted
Posted
1 minute ago, lcfc_forever said:

 

After Listening to that Charlie on the big strong Leicester boys podcast i was feeling very negative about it all then watching this lifted the mood again. I pray the posh owner is correct and he knows what hes on about.

Aleksz

Aleksz

Posted
Posted (edited)

Glad McAnthony has called Methven out a bit. Appreciate you guys of the pod getting Methven on and the opinions he provides but I can’t help but feel he’s a little bit of a cynical doomsayer and we should stop viewing him as this spokesperson of the truth. I would say the reality is somewhere in between both McAnthony and Methven’s opinions. 

Edited by Aleksz
  • Like 4
AKCJ

AKCJ

Posted
Posted (edited)
8 minutes ago, Aleksz said:

Glad McAnthony has called Methven out a bit. Appreciate you guys of the pod getting Methven on and the opinions he provides but I can’t help but feel he’s a little bit of a cynical doomsayer and we should stop viewing him as this spokesperson of the truth. I would say the reality is somewhere in between both McAnthony and Methven’s opinions. 

McAnthony owns a League 1 club, don't you think his view on what a League 1 club is worth might be a bit biased?

Edited by AKCJ
Aleksz

Aleksz

Posted
Posted
1 minute ago, AKCJ said:

McAnthony owns a League 1 club, don't you think his view on what a League 1 club is worth might be a bit biased?

If I was being cynical, but if I was being cynical I could also agree with D Mac and say Methven could be playing our value down for his own benefit. I don’t think either are far wrong on their (perhaps hyperbole) opinions and as I said the reality is probably somewhere in the middle. 

coolhandfox

coolhandfox

Posted
Posted
4 minutes ago, AKCJ said:

McAnthony owns a League 1 club, don't you think his view on what a League 1 club is worth might be a bit biased?

Both men may have a bias based on their own knowledge and experience.

 

 

Ric Flair

Ric Flair

Posted
  • Author
Posted

What's amusing is Methven said we were worth £30m and not the £140m that McAnthony seems to have taken offence to 😂😂😂

 

Enjoyed the nugget at the end that if we were also £120m in debt then it would be different, wrm well Darragh I hate to break it to you.

coolhandfox

coolhandfox

Posted
Posted (edited)
10 minutes ago, Ric Flair said:

What's amusing is Methven said we were worth £30m and not the £140m that McAnthony seems to have taken offence to 😂😂😂

 

Enjoyed the nugget at the end that if we were also £120m in debt then it would be different, wrm well Darragh I hate to break it to you.

Roughly 81m in the last set of accounts (Transfer debts)?

 

A chuck of which would have been payable in 25/26, so will be less in the next set of accounts.

 

 

Edited by coolhandfox
Ric Flair

Ric Flair

Posted
  • Author
Posted
7 minutes ago, coolhandfox said:

Roughly 81m in the last set of accounts (Transfer debts)?

 

A chuck of which would have been payable in 25/26, so will be less in the next set of accounts.

 

 

And any other debts. Currently paying a hell of a lot of interest.

coolhandfox

coolhandfox

Posted
Posted (edited)
7 minutes ago, Ric Flair said:

And any other debts. Currently paying a hell of a lot of interest.

Macquarie Bank are already covered by what we secured them against.

 

We have generally only borrowed from Macquarie and King Power.

 

Depends how we funding the operational losses which will included the interest payments.

 

We will know more when last season accounts are released.

Edited by coolhandfox

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