Leicester City For Sale (Ongoing Thread)

[st albans fox]

Just now, Chelmofox said:

If a sale is outright, and its what KP/Top want, no way is Rudders friendship worth 140m to him and the group.

 

It will all depend on what the buyer thinks of Rudders. 

it wouldn’t be a deal breaker 

But it would t shock me to see him still here post sale 

 

like a life vice president drawing a 150k per year 

[Lillehamring]

3 hours ago, BenTheFox said:

Actually, I'm not so sure this was a position held by many. I'd put myself in the "KP are running this football club into the ground and we need a change of ownership" camp, which I think is the opinion held by most people that wanted to see a change of ownership. I didn't think they were deliberately running the club badly, I believe that the extent of our downfall had been down to incompetence rather than malice.  

I have also stated previously that I am not under the illusion things can't go really badly under a new ownership. However, I'd become increasingly convinced that this football club does not have a positive future under the current ownership. At this point, I am happy to hope that takeover brings a brighter future, and I accept that things will take time. 

I can understand why you might not feel many people had that opinion because the most vocal parties have been foxes talk and the foxes trust both of whom are very much anti-KP.  But i think a lot of ordinary fans (fans that don't post here or affiliate themselves with the foxes trust (who strike me as being incompetent)) have been open-minded about the external contributing factors and were sceptical about the required switch from competence and success to the alleged unilateral collapse of intelligence - and were therefore willing to give the club a chance to see things through.

 

It's all moot, now, anyway - a sale does seem to be inevitable now. 

 

I don't want to reignite any debate of the whys and wherefores of what has happened (which is why i'm only replying to this comment) - 

[CosbehFox]

12 minutes ago, Lillehamring said:

I can understand why you might not feel many people had that opinion because the most vocal parties have been foxes talk and the foxes trust both of whom are very much anti-KP.  But i think a lot of ordinary fans (fans that don't post here or affiliate themselves with the foxes trust (who strike me as being incompetent)) have been open-minded about the external contributing factors and were sceptical about the required switch from competence and success to the alleged unilateral collapse of intelligence - and were therefore willing to give the club a chance to see things through.

 

It's all moot, now, anyway - a sale does seem to be inevitable now. 

 

I don't want to reignite any debate of the whys and wherefores of what has happened (which is why i'm only replying to this comment) - 

Quite funny. You know what ‘Ordinary fans’ think yet you go no games live and don’t live in the city. 
 

You can have a start by looking at Bentleys Roof & Talking Balls forums 

Edited 12 August by CosbehFox

[Claudio Fannieri]

57 minutes ago, st albans fox said:

it wouldn’t be a deal breaker 

But it would t shock me to see him still here post sale 

 

like a life vice president drawing a 150k per year 

Or better still Aiyawatt rewards Rudkins loyalty with a £1m bonus and a job for life running KP racing and he never darkens LCFC door again. 

Edited 12 August by Claudio Fannieri

[Ric Flair]

2 hours ago, Tommy G said:

Nope, more often than not stay on for a period for continuity. Buying a football club is different to a normal ''business'' and if he doesn't stay, or others, they will be getting a bumper pay off - either way its tragic. 

Who pays that, surely as Rudkin covers other KP roles that they'd have to front that?

[grth2004]

So the basics are 

They want £140 million minimum 

But were worth only £40 million (at the moment) 

 

just never going to happen is it 

[Tommy G]

17 minutes ago, Ric Flair said:

Who pays that, surely as Rudkin covers other KP roles that they'd have to front that?

If his employment contract is with LCFC then no. When they find a buyer it will be a commercial discussion of whether they want to keep x or y person post completion, any compo  could just be factored into the consideration they pay - multiple ways of working it. If they are looking to terminate him or others they will be in an easy position to negotiate a gold plated settlement. 

[Tommy G]

1 hour ago, Chelmofox said:

If a sale is outright, and its what KP/Top want, no way is Rudders friendship worth 140m to him and the group.

 

It will all depend on what the buyer thinks of Rudders. 

Rudkin won’t derail anything. If they weren’t fond they could just bullet him on day 1, effectively rip up his employment contract and settle. Top would have no say over this, there are much more complex things to worry about in the SPA than a director by title. 

[ARM1968]

The facts are quite simple. Top isn’t a business man and never will be. He was a playboy living off his father’s ability. Top put his trust in yes men who didn’t have a clue - Rudkin for one. He trusted them because he had no idea either. 
 

King Power’s main business in Thailand is struggling massively and the whole empire could easily collapse. 
 

Will we secure better owners? Likely not. There will be a price to pay in one direction or another. 

[Chelmofox]

3 hours ago, Tommy G said:

Nope, more often than not stay on for a period for continuity. Buying a football club is different to a normal ''business'' and if he doesn't stay, or others, they will be getting a bumper pay off - either way its tragic. 

Why would he get a bumper pay off? Surely he is just a salaried employee? Surely he not like a player who is one x year deals? He can just have his contract terminated or be given redundancy. 

 

If he has shares, then anything he gets from those are due to him as a matter of course. No idea if he does though, and he wouldnt have just been given those.

[jayfox26]

The one laughing emoji on the Foxes trust fb post....

 

The one and only Julie Sutton. 

 

First order of business for any new owner is to ban cretins like her and the Ginetta's 

[ElusiveEd]

100% they will sell the club for what is the best deal for them and not what is best for the club and it's future.

[Tommy G]

1 hour ago, Chelmofox said:

Why would he get a bumper pay off? Surely he is just a salaried employee? Surely he not like a player who is one x year deals? He can just have his contract terminated or be given redundancy. 

 

If he has shares, then anything he gets from those are due to him as a matter of course. No idea if he does though, and he wouldnt have just been given those.

Because he’s on the board and part of the senior management, you will always get a sweeter pay off. If he has his contracted terminated it would be under a settlement agreement. Even though he’s an “employee” he will have a decent set of enhancements in his service agreement, he could easily walk away with 1-2 years money. 

[Dan]

6 hours ago, Ric Flair said:

When clubs get sold, do the whole board of directors tend to change as well? I honestly can't remember. Imagine if we get sold but Rudkin stays 😂

Even if he did initially he wouldn't last long under virtually anybody else. There's this wild world where he actually might be held to account for his performance.

[Pliskin]

1 hour ago, ARM1968 said:

The facts are quite simple. Top isn’t a business man and never will be. He was a playboy living off his father’s ability. Top put his trust in yes men who didn’t have a clue - Rudkin for one. He trusted them because he had no idea either. 
 

King Power’s main business in Thailand is struggling massively and the whole empire could easily collapse. 
 

Will we secure better owners? Likely not. There will be a price to pay in one direction or another. 

Why isn’t not likely? 

[Paninistickers]

5 minutes ago, Dan said:

Even if he did initially he wouldn't last long under virtually anybody else. There's this wild world where he actually might be held to account for his performance.

'Under my stewardship for the previous owner i made a net deficit of around 400m quid, however, in return for that investment, I guided the club from the top 8 of European football to the club's lowest ever position in its history - which means we now sell off the next generation of players (who we've spent around 13 years developing) to pay loan interest'

[NAKC20]

35 minutes ago, ElusiveEd said:

100% they will sell the club for what is the best deal for them and not what is best for the club and it's future.

They are business people, what do you expect

[Chelmofox]

16 minutes ago, Tommy G said:

Because he’s on the board and part of the senior management, you will always get a sweeter pay off. If he has his contracted terminated it would be under a settlement agreement. Even though he’s an “employee” he will have a decent set of enhancements in his service agreement, he could easily walk away with 1-2 years money. 

All conjecture. Senior management don’t have to have anything special in their contracts. He may have a long notice period (would say most likely), but can be voted off the board (presume he’s on it) and be given gardening league. I have no idea if he has equity. Be interesting if anyone knows. If so, again fair play. 
 

If he has negotiated something crazy in his contract then fair play, but any thing like those are priced in during due diligence. Anything stupid can be challenged as not fair and reasonable or negotiated by the buyer and go legal if they want. If the club goes bust, he’s going to get nothing, so he will have take that into consideration. Also if he has equity he will lose it all if the club goes bust. Rudkin will think about this differently I am sure, and new owners could make his working life a complete misery. I’m sure he will want out. 
 

Really wouldn’t let this be the thing that annoys you about him. He’s lost us far more cash than his settlement. 

Edited 12 August by Chelmofox

[ElusiveEd]

1 minute ago, NAKC20 said:

They are business people, what do you expect

I expect nothing that will have us and the future of the club in mind.

 

That was the point of my post.

[VLC86]

12 minutes ago, NAKC20 said:

They are business people, what do you expect

Tbf with Tops track record, I wouldn’t put it past him accidentally selling us for less than another bid.

[Dan]

29 minutes ago, Paninistickers said:

'Under my stewardship for the previous owner i made a net deficit of around 400m quid, however, in return for that investment, I guided the club from the top 8 of European football to the club's lowest ever position in its history - which means we now sell off the next generation of players (who we've spent around 13 years developing) to pay loan interest'

Literally the worst performing DOF possibly ever - part of that is because we've got this perfect storm where such dreadful performance isn't ever under any scrutiny within the club. He'd have been sacked for this in 99% of situations.

[Ric Flair]

2 hours ago, Tommy G said:

If his employment contract is with LCFC then no. When they find a buyer it will be a commercial discussion of whether they want to keep x or y person post completion, any compo  could just be factored into the consideration they pay - multiple ways of working it. If they are looking to terminate him or others they will be in an easy position to negotiate a gold plated settlement. 

He has multiple roles though doesn't he across the KP umbrella so I wonder if he's centrally employed by KP and not LCFC. Hasn't that been common ground for directors where their salary at club level is small in comparison to what they may receive from HQ?

[CosbehFox]

30 minutes ago, NAKC20 said:

They are business people, what do you expect

They actually aren’t. Vichai was. What’s left is a family with an autonomy they haven’t got a clue how to run. Somehow managing to **** up a contract which has zero competition 

[CosbehFox]

Just now, Ric Flair said:

He has multiple roles though doesn't he across the KP umbrella so I wonder if he's centrally employed by KP and not LCFC. Hasn't that been common ground for directors where their salary at club level is small in comparison to what they may receive from HQ?

Hilariously named as a director in the Polo company 🤣

[Tommy G]

38 minutes ago, Chelmofox said:

All conjecture. Senior management don’t have to have anything special in their contracts. He may have a long notice period (would say most likely), but can be voted off the board (presume he’s on it) and be given gardening league. I have no idea if he has equity. Be interesting if anyone knows. If so, again fair play. 
 

If he has negotiated something crazy in his contract then fair play, but any thing like those are priced in during due diligence. Anything stupid can be challenged as not fair and reasonable or negotiated by the buyer and go legal if they want. If the club goes bust, he’s going to get nothing, so he will have take that into consideration. Also if he has equity he will lose it all if the club goes bust. Rudkin will think about this differently I am sure, and new owners could make his working life a complete misery. I’m sure he will want out. 
 

Really wouldn’t let this be the thing that annoys you about him. He’s lost us far more cash than his settlement. 

I’m not annoyed about it I couldn’t give two hoots - just explaining how it works, your second paragraph is really confusing - no buyer will “go legal” it will all just be negotiated and settle prior to the deal going through or immediately after. 
 

FWIW Most senior managers DO have special terms on their service contracts - enhanced notice, enhanced pension, bonus entitlement, car allowances, LTIP, private healthcare, DIS. 

Edited 12 August by Tommy G