Swedging Posted 29 November 2006 Posted 29 November 2006 What we do know is that his is the only offer on the table On the table, no. But there in the wings, yes. and we are going to be royally ****ed if they/we don't take it. Why, if there are other potential alternatives?
Daggers Posted 30 November 2006 Posted 30 November 2006 Don't be so silly. It's a bet on his behalf. Wow! Condescension...whaoo! You appear to be arguing for the sake of it. You have simply paraphrased me. I have copyright. On the table, no. But there in the wings, yes. Where? Why, if there are other potential alternatives? Where? Oh, I already asked this didn't I and you can't possibly know the answer so I shouldn't have done it again!
Swedging Posted 30 November 2006 Posted 30 November 2006 Where? Where? Oh, I already asked this didn't I and you can't possibly know the answer so I shouldn't have done it again! The FT have said that there were other developments but not nearly as far forward as MM. I see no reason to doubt them.
Daggers Posted 30 November 2006 Posted 30 November 2006 The FT have said that there were other developments but not nearly as far forward as MM. I see no reason to doubt them. ...not as far forward? What, someone interested in owning the club but not interested enough to pop in a bid? Well, I guess that's half of FoxesTalk covered. If someone has no willingness to put their name into the ring at this moment then it ain't going to happen...not unless they are prepared to pay much more for the club in five years(ish) time when Mandy sells (if that happens). If another potential investor exists and if they had the cash then they would have already tabled an offer. They haven't, they didn't - whatever, it's not materialising. Where does that leave your alternative bids then? The rights issue and sale of players? So, if you can point out how that road doesn't end with us broke and in the First Division I'm all ears.
dave Posted 30 November 2006 Posted 30 November 2006 Posted By Bruin on the Fox Fanzine (PS he's usually reliable) Make what you will of it. I've taken it upon myself over the last few weeks to do a bit of digging re this ole 'ere takeover business by milking the odd shareholder; contact, and person itk. and not turned up a huge amount more than some of the more discerning folks on here already suspect to be honest. But I have been privy to a modicum of concordial material (+ some which conflicts) which I have been able to throw into the churn, revolve it and pastuerize the content into some digestible form. Don't quote me on any of it - I could be wildly wrong. This is strictly for fun, but it seems that far from the £25 million originally quoted, the bid is for around £4.5m directly to the shareholders + £2m to set aside as a transfer kitty if they agree, and all with no duty to downsize the stadium debt - this will be handled in the same format as it is now. Clearly if he takes ownership then he will become responsible for the liability of the ground repayment scheme, in just the same way as do our current board, but this element of the offer is a technicality and should not be construed as investment. So it seems that MM has used his press mouthpiece to trumpet a huge bid figure to (successfully) gain support at grass roots level, when in fact the only cash boost to the Club's coffers will be £2m - effectively the remnant equity of the outgoing custodians' shareholdings. Note to Soho: The share value of a private limited company does not fluctuate like that of a P(ublic)LC. They are therefore not subject to external forces. In such a case as this their value is that which the directors/shareholders put upon them irrespective of the markets. So basically MM is saying: 'I'll give you back what you paid, then when you no longer have any governance of the Club, I want you to dig into your back sky rocket and provide the war chest for my new players.' Screwing the present incumbents down to zero profit is one thing - coming round with a begging bowl inscribed 'Compulsory Donation' quite another. No wonder the board didn't go a bundle on it and we heard such rumblings of discontent from unnamed shareholders when this was first made public. Not exactly Abramovich is it? BLUE ARMY !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! I know a shareholder with a significant holding and this is my understanding obviously via him, although the £2m is what is available to Rob Kelly there are other funds available when/if a new manager comes in.
Daggers Posted 30 November 2006 Posted 30 November 2006 I know a shareholder with a significant holding and this is my understanding obviously via him, although the £2m is what is available to Rob Kelly there are other funds available when/if a new manager comes in. I have absolutely no reason to trust what you are saying...but I liked the bit at the end. Made me feel happy
Swedging Posted 30 November 2006 Posted 30 November 2006 then they would have already tabled an offer. Big inference to make. Where does that leave your alternative bids then? The rights issue and sale of players? So, if you can point out how that road doesn't end with us broke and in the First Division I'm all ears. We don't know what the other proposals were/are. But I'm not sure why you think a rights issue would leave us broke since it brings money into the club.
Daggers Posted 30 November 2006 Posted 30 November 2006 Big inference to make. It's not an inference, it's an inductive argument. Can you suggest any other reason why no one has tabled a bid then? We don't know what the other proposals were/are. But I'm not sure why you think a rights issue would leave us broke since it brings money into the club. Andrew Taylor drew mention of it in an interview on Radio Leicester, and consequently remains the only viable alternative to the Mandaric bid. Why do I think it is doomed? Because the rights issue would aim to raise somewhere in the region of £2,000,000. Even if it succeeded this is simply in the order of cash to balance books, not invest in players. There is no one in the squad that would raise the money Connolly did, so where would this rights issue lead us? Treading water. This is accepting that current shareholders wish to plough another £2million in to the club ~ which hardly seems likely given their willingness to be reamed on the share value (which was the point of my initial post). This, coupled with the awful form on the pitch (meaning that pressure would increase on ticket revenue) leads to only one logical conclusion...
Swedging Posted 30 November 2006 Posted 30 November 2006 It's not an inference, it's an inductive argument. Can you suggest any other reason why no one has tabled a bid then? Since inductive reasoning works through inference, I'm not sure what your point is, there. But an obvious reason why another bid might not be one table is because the potential investor wouldn't want to pit themselves against Mandaric and the Mockery - particularly if something like groundshare was going to be part of the deal. Because the rights issue would aim to raise somewhere in the region of £2,000,000. Where has this figure come from? I'd also heard £5M and £10M bandied around but all sound pure guesswork. Even so, £2-5M is all that it sounds like MM wants to put into the club.
Daggers Posted 30 November 2006 Posted 30 November 2006 Since inductive reasoning works through inference, I'm not sure what your point is, there. Inference is used in deductive and inductive reasoning, to use the term "infer" could lead one to imply that I was following a deductive path and claimed an absolution to the arguments conclusion which was not the case. But an obvious reason why another bid might not be one table is because the potential investor wouldn't want to pit themselves against Mandaric and the Mockery - particularly if something like groundshare was going to be part of the deal. One could question why this would be obvious, but even if it is ~ it remains a hypothetical argument. Where has this figure come from? The very same Taylor interview I do not really understand the point to this protracted discussion beyond your eagerness to argue that all is not lost if the Mandy deal does not go ahead. I hope you are right but I think we are going to have to agree that we do not agree.
davieG Posted 30 November 2006 Author Posted 30 November 2006 Rumour of an emergency board meeting today? On the Fox Fanzine Can anyone confirm this?
Steven Posted 30 November 2006 Posted 30 November 2006 Rumour of an emergency board meeting today? On the Fox Fanzine Can anyone confirm this? There are also rumours about this on another forum from a poster with good contacts. No-one seems to know the reason for it though.
davieG Posted 30 November 2006 Author Posted 30 November 2006 There are also rumours about this on another forum from a poster with good contacts. No-one seems to know the reason for it though. RK wants to know if he can put Dodds on the bench
Jon the Hat Posted 30 November 2006 Posted 30 November 2006 There are also rumours about this on another forum from a poster with good contacts. No-one seems to know the reason for it though. Maybe they are going to give RK the bullet. Perhaps Mandy's new man is waiting in the wings already.
Babylon Posted 30 November 2006 Posted 30 November 2006 Maybe they are going to give RK the bullet. Perhaps Mandy's new man is waiting in the wings already. Very doubtful i'm afraid.
davieG Posted 30 November 2006 Author Posted 30 November 2006 As it's sourced from the Cov rivals board I wouldn't take it seriously but in the pot it goes. From the Fox Fanzine From the co* board 'A friend of a friend works for Deloitte and Touche just informed me he is working on the VDD (not a STD, it think it stands for V? Due Dilligence) process involving looking at the accounts of none other than the mighty Leicester City. Apparently all is not well and Mr Mandaric is now to looking to offer less than reported. Leicester are about to call an emergency board meeting.
Mort Posted 30 November 2006 Posted 30 November 2006 Isnt it just safest to try not to think about random rumours that are floating round about "emergency meetings" etc... I know we still will, but if only i could try not to think about it... if this somehow fell through we're well and truly fook'd
ThurmastonFox Posted 30 November 2006 Posted 30 November 2006 Apparently all is not well and Mr Mandaric is now to looking to offer less than reported. Leicester are about to call an emergency board meeting. Indeed I have v.good contacts that have confirmed to me that after going through the books Mandaric had been led to believe that we had 16 footballers fit. He sent his men to watch us against Derby and Norwich and it was reported that his men only saw a squad of donkeys...
Mort Posted 30 November 2006 Posted 30 November 2006 Perhaps MM is just tired of the slowness of the bid and wants to get it sorted one way or another... we're not in a position to drag it out, the results on the pitch might have convinced one or both of the Board or Milan to make firm decision on a deal.
Louise Posted 30 November 2006 Posted 30 November 2006 Slowness of the bid? But the ball was in his court (to swap sports).
Brummie-FOX Posted 30 November 2006 Posted 30 November 2006 I doubt he'd be getting bored. He had to make a bid quick because of the other interest in the club.
leeleic Posted 30 November 2006 Posted 30 November 2006 Try this one for size, MM in, kelly out, Curbishley in with jamie redknapp as his assistant. Curbishley has been quoted saying he wants a new challenge with a championship club. Jamie, although lacks experience, has been coaching with harry at portsmouth and short stints at tottenham. The problem with city is since those most memorable days under the ruling of o'neil, we have never been able to attract a decent manager. For starters, we cannot afford the wages of one and also, we have nothing to offer them other than the 'freebies' on the transfer market. MM is an honest and passionate man who loves the game, if he wants success as much as he say's he does, he'll have to dig a little deeper in those pockets and bring in quite simply the best. Our beloved club lacks direction, it has for too long. Lets all just pray we'll get the same xmas pressie we've been wishing for!
Steven Posted 30 November 2006 Posted 30 November 2006 Try this one for size, MM in, kelly out, Curbishley in with jamie redknapp as his assistant. Curbishley has been quoted saying he wants a new challenge with a championship club. Jamie, although lacks experience, has been coaching with harry at portsmouth and short stints at tottenham. The problem with city is since those most memorable days under the ruling of o'neil, we have never been able to attract a decent manager. For starters, we cannot afford the wages of one and also, we have nothing to offer them other than the 'freebies' on the transfer market. MM is an honest and passionate man who loves the game, if he wants success as much as he say's he does, he'll have to dig a little deeper in those pockets and bring in quite simply the best. Our beloved club lacks direction, it has for too long. Lets all just pray we'll get the same xmas pressie we've been wishing for! I'd settle for that.
Nationwider Posted 30 November 2006 Posted 30 November 2006 If MM has any sense, he'll be moving the goalposts left, right and centre now. He has us completely over a barrel and will be looking to beat the SHs down to the lowest possible price. I can't believe there's another bidder (not a serious one), so it would appear we're at his mercy. For the SHs to back out now would be of huge embarrassment to the club and board - given the current bad run of results, if the MM deal falls through there'll be bricks flying through the windows at the Walkers by the New Year. He's played the media really well and the expectations are so high now. At the same time, the team is really looking down into the Abyss again. The drop in form has fallen at the perfect time for him, and he knows it. He'll probably come back in with a whole raft of accounting problems, and a revised cash offer to the SHs of maybe half of whatever he originally suggested? There'll be less cash, and the whole deal will be more heavily geared. Just a thought, anyway.
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