Unnamed Middle Eastern firm hold interest in buying Leicester City

[Pliskin]

Just now, DezFox said:

People really jumping the gun here. We might not even be for sale. If we are we have no idea who is interested, no idea who this Middle Eastern interest is. Personally I think rumours will be quashed by king power and this is false dawn. That not knowledge, just feeling. 
 

if we are exploring as the report suggests, we could be years away from it actually happening. Everyone slow down. 

Theres no smoke without fire…

 

This hasn’t happened overnight, something was cracking off in the PL season, what you’ll probably find is in that season KP made the initial decision to approach the Citigroup around potential interested parties, and now we’re hearing it in the news because there is interest and conversations have been had. 
 

For me, the signs are there, we’re currently asset stripping the squad, it’s been reported that Top has allegedly injected a some of money into the club, to relieve and debts…. We aren’t spending any money at all on transfers, we won’t be paying any fees for anyone, because it now appears King Power are actively looking to sell the club. How quickly and at what stage it is at remains to be seen, but I think it’s clear this is the end of King Power’s time here. 

[D_Fox]

Says alot about player sales this summer ....

[Finnegan]

1 hour ago, Jon the Hat said:

They can plan to bounce back.  If they didn’t believe they could they wouldn’t be buying a football club.  They will point to Sunderland, Birmingham etc.

 

Birmingham and even Sunderland could be bought cheap. Neither were in great shape but they weren't us. 

 

We're a League One club with Premier League financial burdens. You've got be extremely wealthy to buy us and manage the debt we've built from a whole bunch of angles. 

 

Top is still a billionaire despite his problems and he still can't really afford to own us. 

 

There's only two sorts of people that are going to be interested at the moment. Delusional and slightly out of touch people that think the world's still charmed by 5000/1 ten years on (it's not) or sharks smelling blood in the water. 

 

Both terrify me. 

 

Some sensible Benham or Bloom isn't going to come in with their brilliant sporting strategies and get us back to the Premier League through cunning and wisdom. Guys like that buy little clubs like Brentford or Brighton that are cheap, without burden and give them room to grow. 

 

We're either getting another idiot or a cynical vampire looking to bleed whatever we've got left. I don't mean to be overtly negative but I just don't see much room for optimism here. 

 

[CosbehFox]

10 minutes ago, DezFox said:

People really jumping the gun here. We might not even be for sale. If we are we have no idea who is interested, no idea who this Middle Eastern interest is. Personally I think rumours will be quashed by king power and this is false dawn. That not knowledge, just feeling. 
 

if we are exploring as the report suggests, we could be years away from it actually happening. Everyone slow down. 

We are for sale. Financial Times don’t publish that businesses are up for sale without substance 

[hackneyfox]

2 hours ago, Ric Flair said:

I've still not managed to find comfort that we are an attractive proposition given the circumstances we have found ourselves in.

 

Even as we try and get our house in order under whatever financial rules we come under, cash flow and going concern is a major obstacle I don't see how we overcome without us basically falling in to administration which is awful business and no guarantee we get to rise from the ashes.

 

Administration brings horrendous implications to people involved at the club and the community but the ownership have far less ability to get a valuation for what they are " owed " that reflects what they put in or think a club is worth. Other creditors also face the unfortunate outcome of not getting everything they are owed and whilst we are not completely privy to our massive credit facilities with Macquarie, that relationship and cycle we are in is why I struggle to see how we can be prosperous again any time soon.

 

The vast sales we have made and still need to make is highly likely to be our last summer of having the requisite players to be able to command such fees to keep the club going and again that further questions the true value of this club beyond a nice shiny training ground that costs obscene wedge to run and a run of the mill stadium. We are relying on a healthy number of bright academy prospects performing at a lower league next season and getting us promoted or building a reputation big enough for us to command similar fees to what the likes of Monga has gone for this sunmer and Kasey the year before.

 

At some point when we get even more vulnerable, clubs are going to take such players for far less and then it really is game over.

 

I hope i'm wrong, but I remain convinced we will be perilously close to going bust in the next 18 months. 

I read this and worry and then remind myself that you claimed we would sell Daka for £100m.

[CL Fox]

Also possible we might be a way down the line, theres been rumours for a while.

[Finnegan]

13 minutes ago, DezFox said:

People really jumping the gun here. We might not even be for sale. If we are we have no idea who is interested, no idea who this Middle Eastern interest is. Personally I think rumours will be quashed by king power and this is false dawn. That not knowledge, just feeling. 
 

if we are exploring as the report suggests, we could be years away from it actually happening. Everyone slow down. 

 

Maybe I'm being naive but the Financial Times and Bloomberg have run the story. 

 

I don't exactly follow either so maybe I'm wrong but I'd have thought an unsubstantiated, talkSPORT level click bait article about an English third division football club wouldn't get repeated on their platforms. 

 

The claim Top has engaged Citigroup to sound out potential buyers was very specific. 

 

I can very much believe the non specific "Middle Eastern company" showing an interest is largely tabloids adding texture to the story and literally nobody has claimed a bid has been made. These things take ages and I'd bet my house that no actual bids will be made before the transfer window closes because neither the buyer or seller will want the squad building scuppered by emargoes while they work shit out. 

 

This will rumble on for most of the season you'd imagine but only because that's normal. Flash sales don't really happen to clubs our size. There'll be so much financial mud to wade through even when a buyer is genuinely interested while they do their due diligence that'll be impossible to move all that quickly anyway. 

 

But I'd be extremely surprised if Top isn't actually wanting or needing to sell now. Next bit is just finding out how delusional he is about his asking price. 

 

[DezFox]

My post 20 mins ago suggested that I was cautious and not jumping the gun. If you think I’m going to believe the replies saying it will happen, then you are absolutely ****ing right. We will buy who we ****ing want. going straight to the champions league. **** king power, bring the oil money, the dirtier, the better!!! 

Edited 6 hours ago by DezFox

[Pliskin]

4 minutes ago, DezFox said:

My post 20 mins ago suggested that I was cautious and not jumping the gun. If you think I’m going to believe the replies saying it will happen, then you are absolutely ****ing right. We will buy who we ****ing want. going straight to the champions league. **** king power, bring the oil money, the dirtier, the better!!! 

**** YEA!

[1884HF]

im just hoping that new owners will sort the ground out. and get rid of the sky blue seats and shite concourse catering

[fox_up_north]

Just as a reminder that only 20 teams are in the premier league. It's like investing in a band thinking they'll get onstage at Glastonbury. 

 

I'd put aside thoughts of a top flight return and focus more on getting a steadied ship. 

[VLC86]

8 minutes ago, 1884HF said:

im just hoping that new owners will sort the ground out. and get rid of the sky blue seats and shite concourse catering

These are the big issues right here.

[FoxCal]

Would like to think this is further along than the original FT article suggested. As has already been said, it can’t just be coincidence that and the Middle Eastern report came along on the same day.

 

Used to grandstand against these kind of investment groups but football is at a point where if you can’t beat them, you might as well join them. The alternatives are Mike Ashley or Americans and I imagine there are plenty of the latter frothing at the thought of a European club after the World Cup being over there. 

[teblin]

I think that is the point, it might be they want to (KP) want to put minimum fund in. So might except a lower price so they can get out.

[urban.spaceman]

13 minutes ago, 1884HF said:

im just hoping that new owners will sort the ground out. and get rid of the sky blue seats and shite concourse catering

Yeah and switch the Kop and family stand while they’re at it

[CosbehFox]

3 minutes ago, FoxCal said:

Would like to think this is further along than the original FT article suggested. As has already been said, it can’t just be coincidence that and the Middle Eastern report came along on the same day.

 

Used to grandstand against these kind of investment groups but football is at a point where if you can’t beat them, you might as well join them. The alternatives are Mike Ashley or Americans and I imagine there are plenty of the latter frothing at the thought of a European club after the World Cup being over there. 

Suspect it will be but the FT can't commit to publishing that because they'd need to be cast iron truth and it's a publication which is reliant on insider information, so you don't piss off your base. 

[Chelmofox]

13 minutes ago, 1884HF said:

im just hoping that new owners will sort the ground out. and get rid of the sky blue seats and shite concourse catering

I think you probably need to set your expectations differently, possibly to having a ground at all. 

[AjcW]

56 minutes ago, CosbehFox said:

We are for sale. Financial Times don’t publish that businesses are up for sale without substance 

Exactly, it's basically an advertorial for Citi Bank.

[Nolucklcfc]

I think it’s probably a case that King Power know without major major investment, admin is on the way, so we may even see this move quickly. We all know they like to save face … 

[BKLFox]

Start of our new cycle, 08/09 season we find ourselves in Lge 1 new manager, thread bare squad requiring a rebuild, reconnection with fans & a sole task of getting promotion…09/10 after promotion new owners come in and we embark on the best 10-11yrs in our history ⭐ 🌟 🤩 are aligning or is it all a 🛌 😴 💭 

[Tommy G]

3 hours ago, Claudio Fannieri said:

Perhaps this is why Rudkin, Kevin Davies and Anthony were all rewarded with promotions to roles that would guarantee them a very healthy bonus payment / dividend in the event of a club sale…..
 

 

They aren’t shareholders so no dividend, suspect the will all get a 7 figure payout which is the norm through the payroll

[foxfanazer]

1 hour ago, 1884HF said:

im just hoping that new owners will sort the ground out. and get rid of the sky blue seats and shite concourse catering

Yeah that's definitely priority for me too 

[Chelmofox]

57 minutes ago, DezFox said:

People really jumping the gun here. We might not even be for sale. If we are we have no idea who is interested, no idea who this Middle Eastern interest is. Personally I think rumours will be quashed by king power and this is false dawn. That not knowledge, just feeling. 
 

if we are exploring as the report suggests, we could be years away from it actually happening. Everyone slow down. 

hmm, no way this has found its way to the FT unless its at a relatively advanced stage, for a variety of reasons. 

 

What i would love to know is why the story has now been published. This could be either because its at a very advanced stage and all parties are gearing up to publicise more details, or could be that the selling party feel they are being lowballed and hoping to drum up interest from elsewhere, or the buying party looking to put pressure on to get this done. I dont think either party would risk a deal by leaking this risky the trust of each other, unless their is a major problem somewhere - i just dont know what that would be.

 

The FT wouldnt run it if they were not happy with the sources, and would have verified it through both parties and Citibank. Right now, i would assume that everything is in motion, and it would be very strange for a press release to announce this is all nonsense. 

[Manley Farrington-Brown]

1 hour ago, 1884HF said:

im just hoping that new owners will sort the ground out. and get rid of the sky blue seats and shite concourse catering

Knock the whole thing down,  buy some land nearby (there's a spot on Filbert St that would be perfect) and build a ground there with a double decker stand at one end.

[Tommy G]

Even if a bid has been accepted it will be an absolute minimum of 6 months before it goes through, and there is always a risk that a preferred party could pull out entirely or chip the price last minute. This will be a complex cross border deal with lots to unravel, I'll be staggered if anything concrete happens this calendar year.