Leicester City For Sale (Ongoing Thread)

[coolhandfox]

Improved balance sheet as converting debt into equity strengthens the club's net asset position and financial stability on paper.

Edited Monday at 20:19 by coolhandfox

[volpeazzurro]

12 minutes ago, Bfaptu said:

To sell anything be it a car or a t-shirt on Vinted, you put it in the best position possible to get the best price and a good quick sale.

 

That's literally what he's done. Sorted out a few issues and debts to make the club in as good a position as possible. Reading into it, I'd probably say that a buyer has been found but has stipulated a few points around the existing debt. 

Sadly, on Vinted, he’s not going to be able to market the club as ‘very good’, ‘good’ or even ‘satisfactory’, I therefore foresee a problem? Perhaps EBay or Gumtree might be better options?

[st albans fox]

1 hour ago, Gamble92 said:

Just stopping an administration I would have thought. Could be that there’s been no offers and he’s plugging the gap to stop it going out of his hands already.

KP aren’t putting in any new money so they’re not plugging any cash flow holes 

 

[Finnegan]

2 hours ago, ClaphamFox said:

Top has been a bad chairman. He’s not cut out for running a football club and we have suffered because of his inexperience and incompetence. But this desperation to depict him as a mercenary who doesn’t care for the club is plain weird. He has a young family in Thailand and remains Executive Director of the KP group, which may explain why he spends a lot of time over there. The KP group have turned a lot of debt into equity and, as hackneyfox says, he recently turned down a bid for Louis Page that many owners would have accepted. Is it really so hard to believe that he’s well-meaning but just not a very good chairman.

 

It’s the same with Russell Martin. A lot of people don’t rate him as a manager, which is very understandable. But some aren’t satisfied with that and try to turn everything he does and says into evidence that he’s a terrible human being, too—even though those who’ve worked with him seem to speak very highly of him. 

It just seems that if people form a negative view of someone, they have to go all in and believe that individual is an awful person as well. It must be black and white—nuance is not permitted in any way.

 

Hanlon's Razor: Never attribute to malice that which is adequately explained by stupidity. 

 

[brookfox]

10 hours ago, cityfanlee23 said:

The whole club does have a feeling of Only Fools about it.

 

 

 

Rudkin: “Don’t worry Top, this time next year you’ll be a millionaire”

Top: “But I’m a billionaire now”

Rudkin: <awkward laugh>

[Trav Le Bleu]

8 hours ago, Finnegan said:

 

Hanlon's Razor: Never attribute to malice that which is adequately explained by stupidity. 

 

Stupid Nazis.

[Finnegan]

1 hour ago, Trav Le Bleu said:

Stupid Nazis.

 

Yeah, man, people throw around words like "genocide" and "atrocity" way too easily. Not their fault that famously bad German engineering of theirs muddled up the gas and plumbing pipework in those showers.

 

[Pliskin]

Any cųnt bought us yet? 

[Chelmofox]

1 minute ago, Pliskin said:

Any cųnt bought us yet? 

Sent in my bid but got an out of office email reply saying ‘Dorris will deal with the matter in their absence’. Jokers. 

[Pliskin]

4 minutes ago, Chelmofox said:

Sent in my bid but got an out of office email reply saying ‘Dorris will deal with the matter in their absence’. Jokers. 

Anus holes! 

[Trav Le Bleu]

19 minutes ago, Pliskin said:

Any cųnt bought us yet? 

 

11 minutes ago, Pliskin said:

Anus holes! 

Make your mind up.

[DoveValleyFox]

Just been to Lidl. I expected to see the club offered half price with a punnet of tomatoes because there was no news yesterday or buy one Leicester City and get a state of the art training facility free. 

[ST20]

[TheGoldenGod]

"beneficially owned"....you on the wind up fella?

[Happy Fox]

Beneficially 

[LeePhilpottsBaldSpot]

10 minutes ago, ST20 said:

Could anyone explain this in simple terms to a financial dimwit?

[Pliskin]

What is the benefit of publicly announcing this? 

Edited Tuesday at 12:20 by Pliskin

[Chelmofox]

We’re these shares owned by top?

[hejammy]

I think they have done this as the new potential owners have said they want to buy the club with no debt owed to King Power, if they debt is wiped (or turned to equity) then the new owners would not have to take off the debt before buying the club, that's my take on it. As for announcing it publicly, they probably have to do that. 

Having heavy owner loans on the books can look unhealthy. Converting debt to equity cleans up the balance sheet by reducing total liabilities and increasing the club's net asset value - This probably has a factor in it too, trying to show that the value that king power has put on Leicester City is justified....

Edited Tuesday at 12:23 by hejammy

[ramboacdc]

Small amount in comparison to the hundreds of millions before. I would be guessing at the reason why, but 8.5 mil doesn't fill me with "we are sticking around" investment. Reads to me it's wiping a debt someone won't take on. 

[Silva Fox]

2 minutes ago, Pliskin said:

What is the benefit of publicly announcing this? 

Pandering to the KPFC supporters who worship the ground they walk on!

[GorlestonFox]

[Tommy G]

A new owner can structure the debt how they want, it's likely they won't buy the business and it will be debt free, they will leverage it up the best they can.

[BlueBus]

17 hours ago, ClaphamFox said:

Top has been a bad chairman. He’s not cut out for running a football club and we have suffered because of his inexperience and incompetence. But this desperation to depict him as a mercenary who doesn’t care for the club is plain weird. He has a young family in Thailand and remains Executive Director of the KP group, which may explain why he spends a lot of time over there. The KP group have turned a lot of debt into equity and, as hackneyfox says, he recently turned down a bid for Louis Page that many owners would have accepted. Is it really so hard to believe that he’s well-meaning but just not a very good chairman.

 

It’s the same with Russell Martin. A lot of people don’t rate him as a manager, which is very understandable. But some aren’t satisfied with that and try to turn everything he does and says into evidence that he’s a terrible human being, too—even though those who’ve worked with him seem to speak very highly of him. 

It just seems that if people form a negative view of someone, they have to go all in and believe that individual is an awful person as well. It must be black and white—nuance is not permitted in any way.

There's a lot of truth in this.

He was a man in his mid-30's when he had a football club put under his responsibility after his dad tragically died at said football club. 

Yes he didn't have his eye on the ball (to say the f***ing least) but as a business owner, you should be able to trust that the team isn't putting you in a financial hole that can completely ruin you.

 

You think the Saudi Princes are looking at the P&L sheets at Charlton Athletic and sorting out contracts / infrastructure at the club or do they sign big cheques  and highly-paid team sort it out? Top has signed a lot of big cheques and been let down by a number of people who should have been able to identify how screwed we'd be by behaving like we did. 

 

I'm not saying he's blameless, he's absolutely crap but you should be able to be rich, useless and own a football club. 

[AKCJ]

8 minutes ago, Pliskin said:

What is the benefit of publicly announcing this? 

I suppose it shows buyers they're not desperate enough to accept a low-ball offer and it panders to the KPFC army.