Leicester City For Sale (Ongoing Thread)

[Tommy G]

5 minutes ago, 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?

Yeh he could be, no idea - I think he would have to have a decent proportion of remuneration going through a U.K. entity without HMRC having an issue, I’ve not looked too much into how many UK entities KP have. 

[Chelmofox]

9 minutes ago, Tommy G said:

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. 

Ok. You made it sound that Rudkin would be getting someone special though? All that stuff is pretty standard and will be lose change in a deal like this. And some of those things will just be forfeited upon termination of contract (well obvs keeps pension but payments into will stop).

 

Situations can go legal following a sale. Been involved in 2 company deals in the UK where sellers didn't think the buyers met their obligation. One incurred huge legal fees, but the sellers were a consortium and agreed to split costs, Rudkin would be on his own. But of course, if its just some bonuses and stuff not going to go legal, I just though you meant that he would be getting something ridiculous in the grand scheme of things. 

 

 

[1972 Fox]

12 hours ago, Stadt said:

The Banks & Shilton image would make a better statue. Really we ought to make a much bigger deal of the latter, genuinely one of the greats of the game, 1374 appearances! 2nd of all time, first until pretty recently (although Ronaldo will probably overtake him).

But he's an utter cock, who has never shown any affinity towards LCFC since he left in 1974/75.

[jayfox26]

1 hour ago, VLC86 said:

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

Rudkin in charge of negotiations 

[Vlad the Fox]

2 hours 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.

He’ll go by his choice, knowing full well under new ownership he’ll come under scrutiny and be held accountable for his failures. 

[Freeman's Wharfer]

8 hours 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) - 

The Foxes Trust didn’t take a position on the ownership for a long time.

 

In fact the only thing the Trust as an organisation really did was to say “this protest is happening if people were interested in joining” but that was only after surveying the membership to see where they were at on the issue (they supported change).

 

The calls to action from the end of season survey are based on what the 4,000+ Leicester City fans - not Foxes Trust members only - said in the survey. And the statement today has only come because both the member survey and wider end of season survey showed support for a change in ownership and because the Trust sees up close and personal how things are working within the club.

 

If you were to throw any criticism at the Trust it would actually be that, despite a couple of surveys showing support for a change of ownership, it’s sat on the sidelines and not really got involved on the ownership issue until very recently.

 

The Trust calling out the poor management and operation of the club, however, has often been swatted away (in the face of all reason) as “you’re only saying that because you’re King Power out” by those who will staunchly support the ownership no matter what because they think it makes them a better fan.

[Jon the Hat]

5 hours ago, CosbehFox said:

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 

I actually have some sympathy with the KP business position.  They had a contract under which the government decided they were making too much money when the going was good and ripped it up to take a bigger piece of the pie.  Guaranteed share of revenue, regardless of how high that revenue was, and regardless of whether that left anything for KP to make a profit.  When the covid downturn came, the government kept taking their share, while revenues dropped to a point which meant after fixed costs and the govt payment, there were large losses.  So they again had to go back to the government to renogition their share.  Not much they could have done differently imo.

[Globalfox]

10 hours 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. 

Factually inaccurate he is not on the Board at Leicester he is a Leuven. He is an employee and any new ownership will deal with him contractually. Since he runs other things for KP I think he will move on with KP if and when a sale occurs.

[st albans fox]

8 hours ago, 1972 Fox said:

But he's an utter cock, who has never shown any affinity towards LCFC since he left in 1974/75.

broadly true but he did come to quite a few home games when we were doing well  (2015-23) and he has always been positive on his social media about his former clubs.  I wouldn’t recommend looking at his social media ……. 

[Foxes_Trust]

 

Also on Facebook here.

[RizLCFC]

2 hours ago, Foxes_Trust said:

 

Also on Facebook here.

Expose them fully.

[Chelmofox]

2 hours ago, Foxes_Trust said:

 

Also on Facebook here.

If this is the case, you need to be much more continuously vocal about it. When posters have referenced this before the reply has been that there is a lot going on - now it sounds like there wasn't.

 

You need to be at them.

[CL Fox]

3 hours ago, Foxes_Trust said:

 

Also on Facebook here.

Interesting on the lack of responses - several people have gone and not been replaced....more going? Im aware weve got some people with some great links who categorically denied that yesterday 

[AKCJ]

I think a lack of response from the club to the survey just further emphasises that they have checked out and will be going.

 

It's clear that King Power aren't welcome anymore and have overstayed their welcome. Yes there are people like the Ginettas but for one of them there are 100 well adjusted people who realise that Aiyawatt's time is up.

[Globalfox]

I just wanted to point out to everyone that since they have had to prepare a prospectus there is no un-named Middle East buyer because if there was why bother.

[STUHILL]

26 minutes ago, Globalfox said:

I just wanted to point out to everyone that since they have had to prepare a prospectus there is no un-named Middle East buyer because if there was why bother.

Middle East buyer might have been interested but have offered way below what Top wants, hence now opening up the club to other offers.

 

Or it was just a way to push potential buyers to take a look at us before we are sold to this imaginary buyer. 

 

 

[Old Fox]

I think the saddest thing about the imminent challenges is that Vichai would never ever have treated the fans or local community with so little regard. I fully understand that the family will have been clear with Top that the football clubs need to be disposed of as they are a cash cow which they can no longer afford - Top however has clearly felt disrespected by us fans but that is no excuse and any business owner with the values his father represented should be more engaging. I have sympathy for the circumstances that KP in Thailand finds itself but our club, community and fans deserve better and those running the club day to day should know better - let’s hope someone credible is interested and I genuinely hope that there is a clear out in leadership post sale…..sadly it is full of risk and we need a bit of luck with any new buyer 

[Tommy G]

53 minutes ago, Globalfox said:

I just wanted to point out to everyone that since they have had to prepare a prospectus there is no un-named Middle East buyer because if there was why bother.

That is absolute tripe and not how it works. They will be running a proper process, even if there is or isn't a ''preferred bidder'' they will be warming up other potential buyers in the meantime, they will want a whole market approach. If they manage to get some other interested parties then that will provide some competitive tension on price and deliverability of the deal etc.  

[Happy Fox]

BBC have confirmed this now

 

 

https://www.bbc.co.uk/sport/football/articles/ce3qp0yy0j9o

 

 

[Tielemans63]

£200m? No chance 

 

It's good that it's out there though. The sooner KP are gone, the better 

Edited 13 August by Tielemans63

[lcfc_forever]

2 minutes ago, Tielemans63 said:

£200m? No chance 

The headline is a bit misleading, here is the key paragraph that outlines there isn't a specific asking price - I think the Athletic reporting is more realistic that they're looking for £140m to £150m:

The document, seen by BBC Sport, values the club's physical assets at more than £200m, though no specific sum has been attributed to the sale of its struggling teams.

 

Edited 13 August by lcfc_forever

[slymunn]

4 minutes ago, Tielemans63 said:

£200m? No chance 

 

It's good that it's out there though. The sooner KP are gone, the better 

200m is assets, before loans, debt and all the rest.

[ScotFox1]

1 minute ago, lcfc_forever said:

The headline is a bit misleading, here is the key paragraph that outlines there isn't a specific asking price - I think the Athletic reporting is more realistic that they're looking for £140m to £150m:

The document, seen by BBC Sport, values the club's physical assets at more than £200m, though no specific sum has been attributed to the sale of its struggling teams.

 

I think this is correct.

The value of any buyout will be determined not just by the value of the Club, but by the additional assets contained within the offer.

Of course, this value can then be negotiated between the parties, meaning that we'll probably never know the true value of any sale! 

[daddylonglegs]

If we can get them gone this side of Christmas it'll be an amazing achievement.

 

So intrigued to see how Rudkin worms his way into a senior position under a new regime. 

 

[Spudulike]

15 minutes ago, Happy Fox said:

BBC have confirmed this now

 

 

https://www.bbc.co.uk/sport/football/articles/ce3qp0yy0j9o

 

 

Seagrave valued at £121m. You'd think the stadium and surrounding land, with outline planning consent, would be worth more.