Unnamed Middle Eastern firm hold interest in buying Leicester City

[ronnup]

1 hour ago, Groby_Blue said:

Yep, and we're rocketing to Wednesday levels of disaster. When you think it can't get any worse, it does. 

 

The only difference is Chansari was a power mad sociopath and Top seems a decent enough guy who is incompetent and totally out of his depth. It will end up with the same result though. 

 

Yes. That difference being the point 

[teblin]

1 hour ago, Groby_Blue said:

Yep, and we're rocketing to Wednesday levels of disaster. When you think it can't get any worse, it does. 

 

The only difference is Chansari was a power mad sociopath and Top seems a decent enough guy who is incompetent and totally out of his depth. It will end up with the same result though. 

Also, that is making it worse. As it keeps trying to put sticky tape on things.

 

Debt wise I'd have thought we are far far worse off that Wednesday were? 

[Stadt]

2 hours ago, Gamble92 said:

I struggle to think how you could have worse owners than King Power 

A lot of our fans opinions of their own club are downstream of the media perception. We’re perceived (still are in some quarters) as a well run club - so we must be. Free beers make headlines and amass goodwill but financial irresponsibility doesn’t resonate the same way.

 

Mike Ashley isn’t a good owner but he at least runs a club so it isn’t depend on so called Vampire banks. Rebranding the stadium to the Sports Direct Arena was trashy but it isn’t worse than Top running the club into the ground because of his ego/fecklessness/stupidity.

 

He’s taken us from 5/92 to at best 45/92 next season whilst having our highest profile, highest revenue, best facilities and some of our best ever players. Now we’re on the brink of financial catastrophe but somehow it could be worse?

[ceebeefox]

Why are people saying we’ve got no sellable assets after this season? If the likes of Aluko, Alves, Braybrooke et al win us promotion, they’ll be equally as sellable as a Fatawu?

[teblin]

3 minutes ago, ceebeefox said:

Why are people saying we’ve got no sellable assets after this season? If the likes of Aluko, Alves, Braybrooke et al win us promotion, they’ll be equally as sellable as a Fatawu?

Yep thats true, people I have read were meaning if we don't go up I guess.

[Ric Flair]

4 minutes ago, ceebeefox said:

Why are people saying we’ve got no sellable assets after this season? If the likes of Aluko, Alves, Braybrooke et al win us promotion, they’ll be equally as sellable as a Fatawu?

It's the value of those players. A very good season in League One with the financial vulnerability we will be in means not a chance any of those command even half what Fatawu went for.

 

 

[Stadt]

5 minutes ago, ceebeefox said:

Why are people saying we’ve got no sellable assets after this season? If the likes of Aluko, Alves, Braybrooke et al win us promotion, they’ll be equally as sellable as a Fatawu?

Nobody is paying £20m for players with a good L1 season under their belts. Their MV would be about £10m at most.

 

Most people are referring to the idea of us not having anything assets left to sell if we don’t go up anyway.

[VLC86]

8 minutes ago, ceebeefox said:

Why are people saying we’ve got no sellable assets after this season? If the likes of Aluko, Alves, Braybrooke et al win us promotion, they’ll be equally as sellable as a Fatawu?

I tell you what, if them players manage to get us promoted in our current state we should probably be asking for double what we got for him.

[Ric Flair]

Answer this one, as a prospective new owner of this club that is losing (in my opinion / rough estimates) around £25m a year + net unpaid liabilities (circa £30m) that's £50m + of debt you'd be taking on with parachute payments gone beyond next year. You'd need this club for the lowest possible value you could pay, I.e. a quid.

 

Top is going to want / need a massive amount and that's going to be the sticking point. Although if the end result is administration because we can no longer be funded for the losses then there's barely anything KP would get back.

[indierich06]

5 minutes ago, ceebeefox said:

Why are people saying we’ve got no sellable assets after this season? If the likes of Aluko, Alves, Braybrooke et al win us promotion, they’ll be equally as sellable as a Fatawu?

Even if these lads get us promoted, they're not going for the kind of money we got for Fatawu - would love to be proven wrong, but can't see it.

[VLC86]

20 minutes ago, Ric Flair said:

Answer this one, as a prospective new owner of this club that is losing (in my opinion / rough estimates) around £25m a year + net unpaid liabilities (circa £30m) that's £50m + of debt you'd be taking on with parachute payments gone beyond next year. You'd need this club for the lowest possible value you could pay, I.e. a quid.

 

Top is going to want / need a massive amount and that's going to be the sticking point. Although if the end result is administration because we can no longer be funded for the losses then there's barely anything KP would get back.

They thing that reassures me a bit on the sale price and Top wanting to recoup the money is that he isn’t the Chansiri type who was happy to watch it go into administration and do nothing. I suspect he would be more likely to accept a lower valuation.

 

That is obviously all guess work, but when he speaks about his dad’s legacy I just couldn’t see that being part of the agenda. That said, how low that valuation realistically gets before he would decline it is obviously anyone’s guess, as is how high a potential buyer would want to go.

[CosbehFox]

43 minutes ago, ceebeefox said:

Why are people saying we’ve got no sellable assets after this season? If the likes of Aluko, Alves, Braybrooke et al win us promotion, they’ll be equally as sellable as a Fatawu?

What money you fetching for them? Give our contract position with them being weak? Fatawu has played at a World Cup, in the champions League and has a double goal season in the championship in terms of his playing record. 

[Ric Flair]

2 minutes ago, CosbehFox said:

What money you fetching for them? Give our contract position with them being weak? Fatawu has played at a World Cup, in the champions League and has a double goal season in the championship in terms of his playing record. 

Also Braybrooke and Alves contracts only have a year or so to run I think.

[moore_94]

3 minutes ago, Ric Flair said:

Also Braybrooke and Alves contracts only have a year or so to run I think.

Braybrooke is out of contract next summer

 

Alves is 2028

 

I imagine most of the others like Aluko and Joseph are similar as well - actually would still be on their first pro deals

Edited yesterday at 10:47 by moore_94

[Chelmofox]

32 minutes ago, indierich06 said:

Even if these lads get us promoted, they're not going for the kind of money we got for Fatawu - would love to be proven wrong, but can't see it.

To be fair, they would only need to be sold for Kasey money to be as valuable as Fatawu. Braybrook and Alves could certainly go for that.

 

BUT, these are players we need to keep if we do get promoted.

[dmayne7]

46 minutes ago, Ric Flair said:

Answer this one, as a prospective new owner of this club that is losing (in my opinion / rough estimates) around £25m a year + net unpaid liabilities (circa £30m) that's £50m + of debt you'd be taking on with parachute payments gone beyond next year. You'd need this club for the lowest possible value you could pay, I.e. a quid.

 

Top is going to want / need a massive amount and that's going to be the sticking point. Although if the end result is administration because we can no longer be funded for the losses then there's barely anything KP would get back.

Problem is, we can dive into the detail and go through a load of possible permutations, or we can try and over simplify it, in terms of who wants to buy us and when, and by extension what situation KP are willing to sell in vs their expectations, but football is such a unique business I don't think a lot of the normal rules will apply. Ultimately, any buying party is going to have so many moving parts in the background as to whether they want to get in 'early' allowing them a better chance to start clawing back some of that money or wait until possible admin, and KP (Top) will be dictated to by that I think, even though they're the selling party.

[Chelmofox]

18 minutes ago, VLC86 said:

They thing that reassures me a bit on the sale price and Top wanting to recoup the money is that he isn’t the Chansiri type who was happy to watch it go into administration and do nothing. I suspect he would be more likely to accept a lower valuation.

 

That is obviously all guess work, but when he speaks about his dad’s legacy I just couldn’t see that being part of the agenda. That said, how low that valuation realistically gets before he would decline it is obviously anyone’s guess, as is how high a potential buyer would want to go.

There is lower, and there is being offered it for pennies. The resolve will be if its going into administration anyway, do you want to go through the cost and pain of selling for pennies. Thats when its highly likely toys get thrown out of the pram and you decide to just leave this up to the administrators.

 

And then there is the case in how much say Top gets in the matter anyway. He may well be told just to accept administration at some point.

[richardsfoxes]

43 minutes ago, Ric Flair said:

Answer this one, as a prospective new owner of this club that is losing (in my opinion / rough estimates) around £25m a year + net unpaid liabilities (circa £30m) that's £50m + of debt you'd be taking on with parachute payments gone beyond next year. You'd need this club for the lowest possible value you could pay, I.e. a quid.

 

Top is going to want / need a massive amount and that's going to be the sticking point. Although if the end result is administration because we can no longer be funded for the losses then there's barely anything KP would get back.

You don't look at it like that, Football whilst is a "Business" isn't really a business. Every single football club baring a couple lose money every single year, the owners of Chelsea who published a £264M pre tax loss last year and are still investing heavily in it because they realise that football is changing, we are moving in a new direction where without a doubt we will be going to a global streaming service and thats where the money is going to, making sure your club is one the biggest/best ready for when the whole world starts tuning in every week. People with money (Real money) are going to look at everything trying to get to the top (Brand, infrastucture, potential, history, timeframes etc etc), I saw people compare the price of Middlesborough to us the other day in regards to them being worth 100m and us being worth 140m even in the dire situation we are now it still a positive situation for someone with money, (Globally recognised brand, stadium expansion permission with hotel, one of the best training grounds in the UK, massive potential of academy and fan reach due to size of area leicestershire is) - The points highlighted above, think how many years that would take a club to do if they went with a cheaper option. 

[CosbehFox]

58 minutes ago, VLC86 said:

They thing that reassures me a bit on the sale price and Top wanting to recoup the money is that he isn’t the Chansiri type who was happy to watch it go into administration and do nothing. I suspect he would be more likely to accept a lower valuation.

 

That is obviously all guess work, but when he speaks about his dad’s legacy I just couldn’t see that being part of the agenda. That said, how low that valuation realistically gets before he would decline it is obviously anyone’s guess, as is how high a potential buyer would want to go.

but will potential buyers just think, I’ll wait until it goes into administration regardless?  I don’t have to agree a purchase price and the debt suddenly shrink overnight 

 

Cash flow wise we are a time bomb 

Edited yesterday at 11:27 by CosbehFox

[VLC86]

4 minutes ago, CosbehFox said:

but will potential buyers just think, I’ll wait until it goes into administration regardless?  I don’t have to agree a purchase price and the debt suddenly shrink overnight 

 

Cash flow wise we are a time bomb 

Probably yeah, unless the price drops so low that Top/KP just want to avoid administration.

[Stadt]

If the club was put up for sale 18 months everybody would come out of the deal better off. Top would get probably 50% more for the club, the buyer wouldn't need bags of cash to pay off the debts and fund the working capital.

[AjcW]

1 minute ago, Stadt said:

If the club was put up for sale 18 months everybody would come out of the deal better off. Top would get probably 50% more for the club, the buyer wouldn't need bags of cash to pay off the debts and fund the working capital.

Bit like saying the cancer patient would be in a better position in 18 months when the life saving drug comes out but they've got 9 months left to live....

[Lineker's Left Foot]

I don’t think anyone is genuinely interested in us as it has gone relatively quiet.

[Pita]

6 minutes ago, Lineker's Left Foot said:

I don’t think anyone is genuinely interested in us as it has gone relatively quiet.

Agree if there was some magical company the media would have found out by now. Just Top and Rudkin trying to keep the fans happy for a while 

[Chelmofox]

8 minutes ago, Lineker's Left Foot said:

I don’t think anyone is genuinely interested in us as it has gone relatively quiet.

If there is any genuine interest, the whole process will be NDA'd until all parties involved are happy for some sort of announcement. Standard practice. 

 

Don't expect to hear much substance unless its nearing completion, or something has fallen through.