Leicester City For Sale (Ongoing Thread)

[Tommy G]

3 hours ago, Sly said:

https://www.footballinsider247.com/leicester-city/finance/leicester-city-takeover-race-ex-board-member-shares-what-hes-heard-about-deal

 

Ex Everton CEO Keith Wyness has said.

 

1. Neil Lal has zero chance.

2. Three parties have submitted bids.

If that's true, then that's not a very good strike rate

[Pliskin]

Todds barmy army!

[Chelmofox]

2 minutes ago, jammie82uk said:

He could know someone in one of the 3 parties 

All would be NDA'd. I dont see why he would know? I presume he is just guessing.

[davieG]

Truth behind Leicester City's £8.5m decision as takeover 'deadline' passes

 

Truth behind Leicester City's £8.5m decision as takeover 'deadline' passes
Story by Amie Wilson

 

Leicester City’s decision to convert £8.5m of owner debts into shares means that the money owed has been formally written off. City announced on Tuesday that the funding has been turned into shares of the parent company King Power International.

In a statement, the club confirmed: "Leicester City Football Club has completed a further issue of shares to King Power International, as filed with Companies House this week.

"The allotment of new shares to our parent company converts £8.5million of recently provided funding into equity. This funding provides further financial support for the club’s ongoing operations.

Leicester City truth revealed over viral claim players have to pay to stay at club's own hotel
Aiyawatt Srivaddhanaprabha wipes out more debt as statement makes 'ownership structure' clear
"There has been no change to the ownership structure or composition of the club, which remains ultimately and beneficially owned by the Srivaddhanaprabha family."

 

It's not the first time that Chairman Aiyawatt 'Top' Srivaddhanaprabha has wiped out debt. Back in January, £124million was converted into equity, with £194million converted into shares.

But what does the move actually mean for City? "It does seem a bit strange that the club is putting out a press release for that, but what it effectively means is that £8.5million, which the club would never be in the position to repay to the owners, has formally been written off," football financial expert Kieran Maguire told LeicestershireLive.

"By, instead of it being loans, which have to be repaid, it's been converted into shares, which you don't have to repay.

"It doesn’t really make any difference because loans from club owners is a bit like the bank of mum and dad. If my kid passed their driving test and six weeks later came to me and said 'can I borrow 15 grand to buy my first car?' I know they'll never be in a position to repay me, they know that I'm dad and I'm never going to ask for the money back, while it is a loan, the reality, it's a sort of gift. That's exactly the same as owner loans.

"I think this is more of a public relations exercise more than anything else from Leicester City Football Club; they are trying to deal with some of the reservations that fans have about the owners themselves. It's not fresh money coming in, that's the important thing to note, so it's not actually dealing with the club's cash challenges, which they do have and do appear to be real."

The latest conversion comes amid talk of a potential takeover. Over the summer, it emerged that City have been working with Citigroup to try to complete a sale of the club.

Reports suggest that interested parties were given a September 14 deadline to make their initial offers, which has now passed. Scottish-Indian businessman Neil Lal has gone public about his interest, claiming he has made an offer as part of a consortium.

There had reportedly been at least three other interested parties. It was added that the intent was for a new owner to be in place before the end of the current season.

 

[trooky]

20 hours ago, ClaphamFox said:

Why should we give one solitary **** about what talksport think of us?

It's not talksport opinion, they're just a media outlet. This is how we're being portrayed in the media. 

[richardsfoxes]

2 hours ago, FoxesWalk said:

Todd Boehly has officially exited Chelsea now…

It's got them written all over it, typical VC deal - Will buy us cheap, won't have to invest much into the infrastucture just players, get to the prem and sell, to get the deal done they will probably offer top and his family to remain 5-10% share holder so they get a decent exit in the prem. 

[DezFox]

3 minutes ago, richardsfoxes said:

It's got them written all over it, typical VC deal - Will buy us cheap, won't have to invest much into the infrastucture just players, get to the prem and sell, to get the deal done they will probably offer top and his family to remain 5-10% share holder so they get a decent exit in the prem. 

Jesus, this is a perfect scenario, good one. 

[Happy Fox]

I think Todd is the most likely option hopefully it happens.

[AKCJ]

1 minute ago, Happy Fox said:

I think Todd is the most likely option hopefully it happens.

Not sure he's the right man for us. Seems a bit too chaotic.

[slymunn]

2 minutes ago, AKCJ said:

Not sure he's the right man for us. Seems a bit too chaotic.

We don't seem to do quiet or steady, so its probably about right 

[coolhandfox]

48 minutes ago, StanSP said:

Why would an ex CEO from another club know anything about the sale of our club? 

Football is a small world.

Edited 6 hours ago by coolhandfox

[ClaphamFox]

32 minutes ago, trooky said:

It's not talksport opinion, they're just a media outlet. This is how we're being portrayed in the media. 

But why do you care?

[FoxinNotts]

21 minutes ago, Happy Fox said:

I think Todd is the most likely option hopefully it happens.

He could add OHL and City to his sports clubs portfolio, for relative peanuts, with a controlling share, still retain KP as a minority share holding go on to develop the stadium to maximize revenue (which he wanted to do at Chelsea, but came up against differing ideas). Infrastructure base is all there waiting for him. Ideal scenario.

 

Get him in 

[StanSP]

16 minutes ago, coolhandfox said:

Football is a small world.

If so, do you think we'd have not heard more leaks or details other than from an ex CEO of Everton? 

[coolhandfox]

2 minutes ago, StanSP said:

If so, do you think we'd have not heard more leaks or details other than from an ex CEO of Everton? 

The 3 bidders bit has been report by a number of outlets.

 

Neil Lal has zero chance is a given because his not engaging in the process.

 

Not sure he's saying much.

 

Edited 6 hours ago by coolhandfox

[moore_94]

Also in the Percy article:

 

Leicester now believe they have a budget more in line with a League One club. The net profit from the summer was more than £25m. Recent claims of looming administration have been dismissed, but there is no question that promotion this season is desperately needed.
 

Running costs for the complex are understood to be significant, particularly for a club in League One. Players are not charged for overnight accommodation, despite reports this week, though there is a long-standing policy which applies for payment to stays outside club requirements. It is understood the charge is more of a move designed to encourage players to live in closer proximity to Seagrave. Winks, Vestergaard and Conor Coady all commuted daily during their time at the club.

[justfoxes]

 AS IF !!!

[Pliskin]

I do think Todd is a shout. US investment is the most likely and the timings seem to make sense thus far. We will see…… but American’s would certainly be more into our recent history and restoring us…… they love a Cinderella story, and we would be Cinderella 2.

[EastAnglianFox]

He'd absolutely crack on with the stadium development so its a yes from me.

 

Still don't think it will be him though unfortunately 

[trooky]

21 minutes ago, ClaphamFox said:

But why do you care?

It's not an ideal scenario for finding a buyer when the media is speculating we're heading for administration. 

 

The club is over priced for league 1, the  sale value is based on an immediate return to the championship.

 

We have a shit manager and are  currently sitting in mid-table making administration a more likely scenario than immediate promotion. 

 

 

 

[MPH]

8 minutes ago, EastAnglianFox said:

He'd absolutely crack on with the stadium development so its a yes from me.

 

Still don't think it will be him though unfortunately 

if by ‘stadium development’ you mean increase the current plans, then yes. He won’t get involved in us just to see us ticking along nicely. He’ll want to make us a top 6 club. He won’t be happy adding just 8,000 seats.

[ARM1968]

2 hours ago, Jon the Hat said:

Simply that the cost to build what we have would be immense.  Building a ~30,000 seater stadium would cost easily 200 million (Brentford spent 71m on ~half that 8 years ago), the training ground another 100m.  It's not about what it cost us, it's what it costs if you buy another league 1 club to get to EPL standard.  Add to that we have a squad which under proper management is good enough to get out of this league, and you have every chance of getting 150m in my view.  Throw in our sister club and why not?

Let’s see shall we Jon. Proper investors don’t run on what ifs. Administration is looming. 

[Ric Flair]

I am finding that Percy article very difficult to take seriously. I'm very surprised by some of what he has willingly written.

[LCFCCKEANO]

18 minutes ago, Pliskin said:

I do think Todd is a shout. US investment is the most likely and the timings seem to make sense thus far. We will see…… but American’s would certainly be more into our recent history and restoring us…… they love a Cinderella story, and we would be Cinderella 2.

Have quite a decent American fan base, a lot of them getting into footy coincided with our successful period/league win, I could defo see one of their sports consortiums seeing us as a great opportunity for a big English club. With Brum and Wrexham in the championship there is a lot of potential for money there too, bet they were all licking their lips seeing the coverage Brum vs Wrexham got last year for a second division game

[Iwebema]

41 minutes ago, justfoxes said:

 AS IF !!!

Fofana, kante, drinkwater, chillwell, kdh...we basically are. Can they buy Luke Thomas please 🙏