Leicester City For Sale (Ongoing Thread)

[davieG]

26 minutes ago, Supergray22 said:

run by big business rather than the fans.

It's always been that way but it used to be local businesses who had less money and who were mostly fans .

[Ric Flair]

2 hours ago, The boy Linacre said:

Nobody's made an offer for us then currently???

Incorrect

[The boy Linacre]

1 hour ago, Ric Flair said:

Incorrect

A a) sensible, practical business offer, or a B) showboating publicity seeking offer?

Pray tell more?  OR do I have to scroll through lots of pages about Man C.....

Edited 2 October by The boy Linacre

[Corky]

6 hours ago, CosbehFox said:

There’s no example of a sports club successfully claiming recourse due to the consequences of rule breaking on a delayed verdict/historical rule breaking.  Not in English football. 
 

As I’ve laid out if there were an example which attests to this, a queue of clubs would be lining to claim recourse on Leicester City for administration in 2002 and The Trestallar FFP case in 2013.
 

We broke the rules, do other clubs have a case against us? Particularly given competing clubs against us subsequently faced financial difficulty and poor performance. 
 

They’d be a list of clubs after Chelsea as well given their recent verdict. 

And how far does it go? The Everton and Burnley case shouldn't be happening. Suing another club should only be allowable if improper conduct has happened where one club signs a player another was close to signing due to unauthorised behaviour/ practices and it has materially, directly impacted them.

 

There are too many variables in these cases.

[Ric Flair]

3 hours ago, The boy Linacre said:

A a) sensible, practical business offer, or a B) showboating publicity seeking offer?

Pray tell more?  OR do I have to scroll through lots of pages about Man C.....

There are genuine interested parties but still a long way to go.

[Sly]

This sale could drag on a long time.

 

I’d imagine bits have now been submitted and are being reviewed. They’ll not be what King Power wanted. We all know that.

 

The next stage will be companies undertaking due diligence under an NDA, which I would imagine becomes really interesting, untangling the web of mess like property ownership, money partnerships, losses, wage structures, BC game etc. So many mergers and acquisitions fail at this stage, as people don’t want to be associated with anything underhand. Once you find one thing, you start turning stones over and typically find a lot, lot more. 

 

 

[FoxinNotts]

3 hours ago, Sly said:

This sale could drag on a long time.

 

I’d imagine bits have now been submitted and are being reviewed. They’ll not be what King Power wanted. We all know that.

 

The next stage will be companies undertaking due diligence under an NDA, which I would imagine becomes really interesting, untangling the web of mess like property ownership, money partnerships, losses, wage structures, BC game etc. So many mergers and acquisitions fail at this stage, as people don’t want to be associated with anything underhand. Once you find one thing, you start turning stones over and typically find a lot, lot more. 

 

 

Not 'could' but definitely will.

 

This won't get resolved (at best) until well into next summer's transfer window.

 

And that is optimistic. It's just not a quick process. 

[FoxFossil]

37 minutes ago, FoxinNotts said:

Not 'could' but definitely will.

 

This won't get resolved (at best) until well into next summer's transfer window.

 

And that is optimistic. It's just not a quick process. 

Could / should be down to a preferred bidder and reserve by Christmas if selling team know what they are doing. Always keep a reserve bidder to keep process competitive if you can, and if preferred bidder drops out, otherwise you have to start process again.

[Tommy G]

5 hours ago, Sly said:

This sale could drag on a long time.

 

I’d imagine bits have now been submitted and are being reviewed. They’ll not be what King Power wanted. We all know that.

 

The next stage will be companies undertaking due diligence under an NDA, which I would imagine becomes really interesting, untangling the web of mess like property ownership, money partnerships, losses, wage structures, BC game etc. So many mergers and acquisitions fail at this stage, as people don’t want to be associated with anything underhand. Once you find one thing, you start turning stones over and typically find a lot, lot more. 

 

 

LCFC will have engaged with someone to prepare this all for them, in a nice glossy report all under a hold harmless letter - I think they will be avoiding someone ''untangling'' anything and the advisors will have to play a straight bat here.

 

I think we are at the point (hopefully) where we may have 2/3 interested parties and they will be doing all the above with the next deadline being final offers at some point in October - even if they get the the point of signing the SPA there will likely be a period to completion - that assumes they manage to drag a buyer to the end that doesn't pull out. If they do then they will need to go back to number two choice, which is never a good place to be as they will know they are the only game in town and A) will of moved onto something else or B) chip away at the price knowing the options for the seller are limited. 

 

If the buyer needs financing in place this will add another 6-8 weeks even if they have some existing facilities they can call on. This deal will be like trusting a 2 year old to cross a busy road with half a dozen eggs. 

[Tommy G]

1 hour ago, FoxinNotts said:

Not 'could' but definitely will.

 

This won't get resolved (at best) until well into next summer's transfer window.

 

And that is optimistic. It's just not a quick process. 

Unlikely - the buyer will want to influence quickly and the seller will want a compressed timeline to completion given the fees for this will be anywhere between £4-6m, where things drag on is where it goes tits up, Citibank will be pushing like mad once they have someone with a pen in their hand. 

[FoxinNotts]

2 minutes ago, Tommy G said:

Unlikely - the buyer will want to influence quickly and the seller will want a compressed timeline to completion given the fees for this will be anywhere between £4-6m, where things drag on is where it goes tits up, Citibank will be pushing like mad once they have someone with a pen in their hand. 

You (Citibank) can push as much as you want. I guarantee the club won't change hands until next summer. Not a chance.

[Tommy G]

1 minute ago, FoxinNotts said:

You (Citibank) can push as much as you want. I guarantee the club won't change hands until next summer. Not a chance.

Out of interest what makes you guarantee that?

[sylofox]

I'd say the biggest problem with any deal is going to be the BC Game deal.

 

If that's not squeaky clean you would have to be an idiot to buy us. That deal is what will bite us in the ass.

[FoxinNotts]

7 minutes ago, Tommy G said:

Out of interest what makes you guarantee that?

Sorry, probably too strong a phrase used there 

My opinion is just based upon comparable football club sales. They all take about a year or so.

There is no way this deal gets 'rushed through'.

 

[AjcW]

2 minutes ago, sylofox said:

I'd say the biggest problem with any deal is going to be the BC Game deal.

 

If that's not squeaky clean you would have to be an idiot to buy us. That deal is what will bite us in the ass.

Sadly it's just part of football now, I doubt it would put anyone off, in fact given that we are likely to attract investors on the shiftier side of legit they might even like the "creative accounting" behind it... 

 

Sadly it's all pretty watertight too, some of the biggest names in investigative journalism have been on these deals for years and are still no closer to finding incriminating details. 

[FoxinNotts]

2 minutes ago, AjcW said:

Sadly it's just part of football now, I doubt it would put anyone off, in fact given that we are likely to attract investors on the shiftier side of legit they might even like the "creative accounting" behind it... 

 

Sadly it's all pretty watertight too, some of the biggest names in investigative journalism have been on these deals for years and are still no closer to finding incriminating details. 

Also, doesn't the BC Game deal have to end very soon anyway? Gaming companies sponsor ban, n all that?

[sylofox]

3 minutes ago, AjcW said:

Sadly it's just part of football now, I doubt it would put anyone off, in fact given that we are likely to attract investors on the shiftier side of legit they might even like the "creative accounting" behind it... 

 

Sadly it's all pretty watertight too, some of the biggest names in investigative journalism have been on these deals for years and are still no closer to finding incriminating details. 

I'd want assurance's from the prem and the FA no action would be taken if anything is wrong with it. HMRC to.

[AjcW]

2 minutes ago, FoxinNotts said:

Also, doesn't the BC Game deal have to end very soon anyway? Gaming companies sponsor ban, n all that?

Only the Premier League has enforced this. 

Labour have said recently they want to start consultations on banning any that don't hold a UK licence.

Nothing imminent and we won't be back in the PL for a minimum of a couple of years anyway......  

[AjcW]

1 minute ago, sylofox said:

I'd want assurance's from the prem and the FA no action would be taken if anything is wrong with it. HMRC to.

Well then we'll never be sold

[sylofox]

Maybe not 😂 

Edited Tuesday at 10:40 by sylofox

[CosbehFox]

2 hours ago, FoxinNotts said:

You (Citibank) can push as much as you want. I guarantee the club won't change hands until next summer. Not a chance.

 

2 hours ago, FoxinNotts said:

Sorry, probably too strong a phrase used there 

My opinion is just based upon comparable football club sales. They all take about a year or so.

There is no way this deal gets 'rushed through'.

 

Wednesday and Everton took seven months. 

 

Parties will be targeting December 

[Nick]

Are people concerned about the BC deal as it might be a way like allegedly Man City of KP or Thai cash going through it to boost revenue or that BC might be washing their own currency through it?

[Sol thewall Bamba]

5 minutes ago, Nick said:

Are people concerned about the BC deal as it might be a way like allegedly Man City of KP or Thai cash going through it to boost revenue or that BC might be washing their own currency through it?

There's not much that would suprise me that might come out in the wash during this sale process tbh. 

[OnlyOneCity]

46 minutes ago, CosbehFox said:

 

Wednesday and Everton took seven months. 

 

Parties will be targeting December 

Ooh, a surprise Christmas present for someone 🎅🏻🎅🏻

[foxfanazer]

Maybe somebody will pick us up in the January sales