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AKCJ

Leicester City For Sale (Ongoing Thread)

By AKCJ, in Leicester City Forum

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Pliskin

Pliskin

Posted
Posted

I think we’re kidding ourselves if we’re expecting someone to buy us….. this should have been done when things went wrong under Rodgers, when we were salvageable and attractive at the top level…….. who is going to want to take this on? We’re a ****ing mess, and probably far too much of a headache to tackle at the moment……

 

All we can hope for is we somehow get promotion this season, stave off administration and hope someone buys us next season….. the only problem is it means we’re going to be stuck with Russell no matter what, which means it’s touch and go if we get promoted or not. 

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Tommy G

Tommy G

Posted
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Posted
2 minutes ago, Pliskin said:

I think we’re kidding ourselves if we’re expecting someone to buy us….. this should have been done when things went wrong under Rodgers, when we were salvageable and attractive at the top level…….. who is going to want to take this on? We’re a ****ing mess, and probably far too much of a headache to tackle at the moment……

 

All we can hope for is we somehow get promotion this season, stave off administration and hope someone buys us next season….. the only problem is it means we’re going to be stuck with Russell no matter what, which means it’s touch and go if we get promoted or not. 

I don’t think Citi would of engaged if the market for buying is was that gloomy - they’ll be on a fee on completion which will be a few £m, if they thought it was a dead duck they wouldn’t of invested time or money into it, suspect they would of done a round of (horrific term incoming) coffee chats with a a decent chunk of the potential buying pool ahead of any formal process, it’s not like you whack a “for sale” board up and off you go. 

 

 

  • Like 5
Pliskin

Pliskin

Posted
Posted
14 minutes ago, Miquel The Work Geordie said:

 

You've spent 99.9% of time in this thread daydreaming about Emirati sheikhs, pick a side man

If the day comes, I’ll explode……

wurmer

wurmer

Posted
Posted
7 hours ago, Tommy G said:

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.

Can only leverage if there's any assets left that haven't already been leveraged...

 

Paninistickers

Paninistickers

Posted
Posted
6 minutes ago, wurmer said:

Can only leverage if there's any assets left that haven't already been leveraged...

 

Personally, and I'm prepared to be wrong here, I don't know where and what all the supposed debt is. 

 

The Macquarie debt is a technicality only. The payments are covered. The club is in essence the underwriter, rather than debtor. 

 

KP have basically written off hundreds of millions with debt to equity conversion. Which tbf explains the high asking price so they can recoup some.

 

The only debts I work out  are transfer instalments still owed (Skipp, herrmansen, Cullen, Stephy, Faes, VK, Souttar and maybe some others I CBA to think of) and hidden debt for seagrave (which I don't think was ever put through the club's books) 

 

 

 

 

  • Like 1
hackneyfox

hackneyfox

Posted
Posted
6 minutes ago, Paninistickers said:

Personally, and I'm prepared to be wrong here, I don't know where and what all the supposed debt is. 

 

The Macquarie debt is a technicality only. The payments are covered. The club is in essence the underwriter, rather than debtor. 

 

KP have basically written off hundreds of millions with debt to equity conversion. Which tbf explains the high asking price so they can recoup some.

 

The only debts I work out  are transfer instalments still owed (Skipp, herrmansen, Cullen, Stephy, Faes, VK, Souttar and maybe some others I CBA to think of) and hidden debt for seagrave (which I don't think was ever put through the club's books) 

 

 

 

 

Aren’t the transfer instalments covered by the £50m or so we received in player sales this summer?

 

Paninistickers

Paninistickers

Posted
Posted
1 minute ago, hackneyfox said:

Aren’t the transfer instalments covered by the £50m or so we received in player sales this summer?

 

This is guesswork, but I suspect accurate. The player sales pay the day to day. We sell Fatawu. Run the invoice straight down to Macquarie. Cash it in. Keep the lights on..

 

KP are the masters of kicking the can down the road

  • Like 1
1972 Fox

1972 Fox

Posted
Posted
7 hours ago, LeePhilpottsBaldSpot said:

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

I doubt that Top will want an explanation from people on here.

  • Haha 3
Chrysalis

Chrysalis

Posted
Posted (edited)
55 minutes ago, Pliskin said:

I think we’re kidding ourselves if we’re expecting someone to buy us….. this should have been done when things went wrong under Rodgers, when we were salvageable and attractive at the top level…….. who is going to want to take this on? We’re a ****ing mess, and probably far too much of a headache to tackle at the moment……

 

All we can hope for is we somehow get promotion this season, stave off administration and hope someone buys us next season….. the only problem is it means we’re going to be stuck with Russell no matter what, which means it’s touch and go if we get promoted or not. 

We more attractive to buy in a lower league, as the value is lower, (for a normal club the wage bill would also be low).  The more in the shit a club is the better the buy, the ideal moment is a admin package.

 

Liverpool got their current owners when the bank had repossessed the club, many clubs change hands during admin, or rough financial periods in lower leagues.

Edited by Chrysalis
  • Like 1
hackneyfox

hackneyfox

Posted
Posted
2 minutes ago, Chrysalis said:

We more attractive to buy in a lower league, as the value is lower, (for a normal club the wage bill would also be low).  The more in the shit a club is the better the buy, the ideal moment is a admin package.

Except that you’re minus 12 points!!!!!!

Chrysalis

Chrysalis

Posted
Posted (edited)
1 minute ago, hackneyfox said:

Except that you’re minus 12 points!!!!!!

Minor issue for a one off season.

I also think if we get promoted and is no buyer, there is a chance we taken off the market once we only one promotion away from the EPL again.

Edited by Chrysalis
hackneyfox

hackneyfox

Posted
Posted
Just now, Chrysalis said:

Minor issue for a one off season.

 

Then you’d have a 12 point deduction and a much reduced chance of promotion.
Likely to get into the PL a year later than hoped so you’d be £140m worse off.
How does that make sense?
 
 
 

 

Chrysalis

Chrysalis

Posted
Posted
1 minute ago, hackneyfox said:

 

 

Then you’d have a 12 point deduction and a much reduced chance of promotion.
Likely to get into the PL a year later than hoped so you’d be £140m worse off.
How does that make sense?
 
 
 

 

If I am buying a business, I want a streamlined set of costs, and a reduced purchase price.

This is why companies get costs stripped down prior to sale to make it a more satisfying purchase from the new owner.

Imagine buying buying the club in the EPL with an extra 300m value, and a huge wage bill for players you dont want purchased by the previous owner, up against spending limits.  Would be nightmare of a purchase.

Sly

Sly

Posted
Posted
4 minutes ago, Blanchflower78 said:

Were heading for administration aren't we... 

I have thought so for some time.

 

The fire sale this season might have staved it off for a while longer, which generated something like £50m. 
 

If you consider our weekly wage bill alone is likely £700k to £900k, depending on what you read, we are bleeding cash. That’s before you consider we have got a load more stuff to pay for that isn’t just player wages. 

Tommy G

Tommy G

Posted
Posted
1 hour ago, wurmer said:

Can only leverage if there's any assets left that haven't already been leveraged...

 

I don’t think their in the game of asset based lending but they could use seagrave or the training ground as security 

  • Like 1
foxile5

foxile5

Posted
Posted

Whilst I'm not sure the TalkSport Journo is 100% accurate he's still a journalist and his career is dependent on not peddling absolute tripe.

 

He won't have said that without some inkling that it's on the cards. It's telling that his has come out in tandem with the owners converting yet more debt into equity. 

  • Haha 3

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