Leicester City For Sale (Ongoing Thread)

[Lineker's Left Foot]

1 hour ago, kingpowerout said:

If a deadline has been set then I think we can safely say there are multiple interested parties otherwise who are we setting the deadline to!?

Was starting to worry that this had gone all quiet.  Glad we’ve been given an

update of sorts.

[fox_favourite]

Just now, Nolucklcfc said:

There must be a few genuinely interested parties … otherwise it makes no sense 

Exactly, why set a deadline if no one was interested. They have obviously had interest for more than one party I think and they're trying to force their hand to make sure parties are serious. Trouble is, they could call our bluff. 

 

Let's see 

[CosbehFox]

8 minutes ago, The Doctor said:

They won't have set a deadline if there's no bids on the table. This is a deadline for all bids to come in with multiple interested parties, at which point those parties will proceed to the next stage to begin whittling down to exclusive rights. I know it's popular to say that this owners are inept and haven't considered the possibility of no bids coming in, but the sale is being handled by Citibank, not them.

Yep exactly this. People underestimating the interest in my opinion 

[Paninistickers]

12 minutes ago, The Doctor said:

They won't have set a deadline if there's no bids on the table. This is a deadline for all bids to come in with multiple interested parties, at which point those parties will proceed to the next stage to begin whittling down to exclusive rights. I know it's popular to say that this owners are inept and haven't considered the possibility of no bids coming in, but the sale is being handled by Citibank, not them.

This is all assuming there has been a deadline set. This is Ben Jacobs we're talking about. I've followed him since he 'burst' onto the scene from nowhere a couple of years ago. 

 

My best guess is that he's a professional guesser. An educated guesser. His stories are usually plausible but he's never broke anything that you couldn't have worked out for yourself. 

 

 

 

 

[The Doctor]

4 minutes ago, Paninistickers said:

This is all assuming there has been a deadline set. This is Ben Jacobs we're talking about. I've followed him since he 'burst' onto the scene from nowhere a couple of years ago. 

 

My best guess is that he's a professional guesser. An educated guesser. His stories are usually plausible but he's never broke anything that you couldn't have worked out for yourself. 

 

 

 

 

well yes, this is all assuming the deadline is real, but if it is real it is not a "we'll keep running it if there's no-one interested by then", they've contracted Citibank to make the sale, they want to sell up. If they were not looking to sell and it was just a guy sounding them out then sure, it could be a "make us a serious offer by this date or we're not entertaining you anymore", but if that were the case they wouldn't have hired a firm to sell on their behalf 

[VLC86]

1 hour ago, Pliskin said:

I want a filthy rich gulf prince.  

Same, I’d probably let him buy a football club as well.

[VLC86]

Genuine question, any idea what he means by “valuation doesn’t factor in debt”? Does that mean we are effectively saying £200m but the first X million of that pays off the debt? Or are we asking for £200m and KP doesn’t clear any debts?

[Juan Carrito]

37 minutes ago, adam1 said:

This Lal chap to me seems to be a bit of a fantasist.

 

https://www.heraldscotland.com/politics/23358223.man-behind-humza-yousaf-safety-row-scottish-labour-donor/

 

I don't think he is a legitimate contender. Reminds of that guy who had a "drinks empire" who wanted to buy Morecambe.

His website is worth a read for a laugh. Lots of unusual sounding prizes awarded by slightly opaque organisations. But hey, maybe a twice winner of the 'man of the decade' award is what the club is crying out for 

[Spanner73]

49 minutes ago, Pita said:

Trouble is if there are no offers. Top going to have egg on his face big time 

I think it’s safe to say that it won’t bother him in the slightest, he’s got serious thick skin, look at his track record has he ever been embarrassed by his dreadful performance being an owner ? 
 

If that was me I’d want the world to swallow me up 
 

[The Year Of The Fox]

28 minutes ago, VLC86 said:

Genuine question, any idea what he means by “valuation doesn’t factor in debt”? Does that mean we are effectively saying £200m but the first X million of that pays off the debt? Or are we asking for £200m and KP doesn’t clear any debts?

The latter 

 

 

Club needs a £500m injection I think, if paying the asking price, clear the debt and to help us get out of these lower leagues (this includes helping us become self sustainable whilst being paid peanuts in TV rights etc etc)

Edited 26 August by The Year Of The Fox

[jammie82uk]

2 hours ago, Pita said:

We go bust.  Then someone buys us on the cheap 

That’s not how it works…. 

[inckley fox]

55 minutes ago, fox_favourite said:

Exactly, why set a deadline if no one was interested. They have obviously had interest for more than one party I think and they're trying to force their hand to make sure parties are serious. Trouble is, they could call our bluff. 

 

Let's see 

It could be that we have a load of chancers expressing interest, and - expecting there's no substance to any of their offers - the club wishes to see whether they're all talk or not. Nobody wants to waste months going back and forth with lost causes.

 

It doesn't necessarily mean any of those being set a deadline will, or can, come up with the goods.

[Lineker's Left Foot]

3 minutes ago, jammie82uk said:

That’s not how it works…. 

Afraid I am naive regarding ‘legal matters’, but wouldn’t we go into Administration first where creditors are paid x in the pound, then a buyer picks us up cheaper.

 

Someone will!!

[Juan Carrito]

3 minutes ago, The Year Of The Fox said:

The latter 

 

 

Club needs a £500m injection I think, if paying the asking price, clear the debt and to help us get out of these lower leagues 

I hope that you're wrong as there is no one on earth who is going to be putting that much money in. 

[Lineker's Left Foot]

3 minutes ago, Juan Carrito said:

I hope that you're wrong as there is no one on earth who is going to be putting that much money in. 

Then it’s Administration and that imbecile

basically walks away with nothing.

[The Year Of The Fox]

7 minutes ago, Juan Carrito said:

I hope that you're wrong as there is no one on earth who is going to be putting that much money in. 

This is why I think we’re fcuked either way 

[VLC86]

19 minutes ago, The Year Of The Fox said:

The latter 

 

 

Club needs a £500m injection I think, if paying the asking price, clear the debt and to help us get out of these lower leagues (this includes helping us become self sustainable whilst being paid peanuts in TV rights etc etc)

Ya bastard 😂 don’t expect to hear much from this then.

[Gravel]

I put in a cheeky lowball offer on e-bay but shitting myself it might win 

[VLC86]

That’s a mental position to start from even if you are expecting to drop down a bit. I’d imagine a few of the interested parties tell them to **** off and come back when they are being realistic.

[Kp1984]

If I bid £20 and no one eles bids by the 14th September is the club mine. 😀

[Globalfox]

46 minutes ago, VLC86 said:

Genuine question, any idea what he means by “valuation doesn’t factor in debt”? Does that mean we are effectively saying £200m but the first X million of that pays off the debt? Or are we asking for £200m and KP doesn’t clear any debts?

The prospectus is asset based what needs to be determined is the level of debt to be taken on. The Macquarie financing is covered but last accounts had around 90 million of uncovered debt. Recent sales may have paid some of that down. An offer has to understand what debt you are taking on plus probably 50 million is available cash to sustain running the club and to obtain the IFR license. This is what starts to dictate the price. So circa 120 million to cover debt and funding probably means a sensible offer that does not saddle new owners with heavy finance cost is likely to be well short of their 200 million something close to 90 million is more reasonable. Citibank are probably seeking early offers to target a preferred negotiation. IFR takes up to 90 days to approve so mid December would be fast track for a sale and important for new owners to have say over January transfer window. I believe this is optimistic and it’s likely to be March at earliest.

[Juan Carrito]

10 minutes ago, The Year Of The Fox said:

This is why I think we’re fcuked either way 

Yeah, sadly I think you're probably right there. World class mismanagement from the owner. 

[Kp1984]

If my £20 bid is successful il make sure Tomas never starts another game. Bobby read never plays again as striker and rudkin will be gone. 

[1972 Fox]

My understanding is that there is an interested party with links to a successful Spanish club. They want to bring in Juan who is one of their own people as director general de deportes.

[sylofox]

2 hours ago, Lambert09 said:

I know we want them gone but a rushed deadline isn’t the best way to get a good owner. A good owner would be dictating the terms to them … 

We get what we get. I don't for 1 minute think Top is selling because it's the right thing for us. I'm guessing the sale is to prop up/save KP. All he cares about is getting enough money to save KP or his own face back home if he runs us into the ground.