Milan Mandaric has targeted leicester!

[Ric Flair]

Again, the board as well as the Foxestrust make us look like kings in a game played by peasants.

In a nutshell, you've summed it up.

[The People's Hero]

Hello Focks.

I find it slightly bizarre that over this weekend we've had 2 new posters appear. One with Simon Cowell as an avatar and one with Louis Walsh!

[Focks]

Hello Focks.

I find it slightly bizarre that over this weekend we've had 2 new posters appear. One with Simon Cowell as an avatar and one with Louis Walsh!

Well, now that all that X-Factor shiyt has finished I can concentrate proper on lcfc

[Brummie-FOX]

I've just skimmed through the past 3-4 pages. I hardly understand a ting

But to be honest, why would Milan lie about owning a stake in Portsmouth? He seems to be a trustworthy man. He's done too much and said too much about becoming the new Leicester owner and now he springs this up on us? Surely he wouldn't want to ruin his excellent reputation in English Fußbal?

[Mort]

But to be honest, why would Milan lie about owning a stake in Portsmouth? He seems to be a trustworthy man. He's done too much and said too much about becoming the new Leicester owner and now he springs this up on us? Surely he wouldn't want to ruin his excellent reputation in English Fußbal?

To be honest i think its the board (probably unfairly as it seems like the shareholders who are mostly to blame) who'll ruin their reputation (if they ever had one) and will not only kibosh this deal but make any other potential investors far more cautious about LCFC, if other potential investors even exist which i doubt.

[Unit]

Let's do a derby-esque BOARD OUT type protest, then kick off.

[Louise]

Setback?

by Bill Anderson

Milan Mandaric's takeover of Leicester City appears to have suffered a setback after reports that considerable extra debts have surfaced.

On Saturday, a club source was said to have informed Radio Leicester that the process was not going as smoothly as had been hoped, and the suggestion was that some shareholders wanted better terms for their shares.

However, it is now understood that Mandaric's representatives are unhappy with what has been revealed in the due diligence procedure, in which the club's accounts are scrutinised, notably a higher level of debt than had been disclosed initially.

This development could have a significant effect on the final bid, which has not yet been technically lodged, and further negotiations may be needed.

Under takeover rules, neither City nor Mandaric are allowed to comment publicly on the way the deal is progressing, which makes the leaked information from the Walkers Stadium all the more surprising, not to mention highly irregular.

The £25 million takeover has already been agreed in principle, but fears that Mandaric might be going cold on the deal were not eased when he did not watch Saturday's win over Barnsley as expected.

However, the notion that the takeover is dead is not the case, only that it might take longer than anticipated, but hopefully still in time for City boss Robert Kelly to receive transfer funds for the January transfer window.

Mandaric is known to be impatient to get to grips with the job of revitalising the club, whose potential was shown by the 30,000-plus crowd for Saturday's win against Barnsley.

City fans are eager to welcome the investment, but there are misgivings among supporters that something might go wrong and that this golden opportunity could be lost.

This latest development of added debt showing up will not ease their minds, but does put extra pressure on the board and shareholders to get it sorted out as quickly as possible.

http://www.thebluearmy.co.uk/details.asp?b...6269754|p|536|0

Bill still firmly up MM's arse.

[Surreal Madrid]

If the Times article is to be believed, any hold-ups/problems are due to MM still having an interest in Portsmouth via a trust, because Gaydmark still has to pay MM £8 million. The interest he still holds would appear to be against FA rules, and the missing £8 million might well knock a big hole in his final offer for LCFC.

[Suffolk_fox]

If the Times article is to be believed, any hold-ups/problems are due to MM still having an interest in Portsmouth via a trust, because Gaydmark still has to pay MM £8 million. The interest he still holds would appear to be against FA rules, and the missing £8 million might well knock a big hole in his final offer for LCFC.

Which Times article did you read? The one posted on here today (and here) makes no mention of MM's interest in Portsmouth. This has already been debunked!

[Ric Flair]

Bill still firmly up MM's arse.

Quite an interesting article, which will put yet more pressure on the board to accept. I think what will happen now is that Milan will want to put AN offer in this week, even if the board are unsure as to whether our shareholders will definitely accept or not. The board will then have to report to our shareholders that the bid has been reduced because................................ I think it's fair to say everyone knows why, because we are in the shit. If this deal doesn't go through, Kisnorbo, Hume and Stearman will all be off as we are desperate for cash.

[Surreal Madrid]

Which Times article did you read? The one posted on here today (and here) makes no mention of MM's interest in Portsmouth. This has already been debunked!

Try this - www.timesonline.co.uk/article/0,,2093-2508430.html

[Swedging]

MM's interest in Portsmouth. This has already been debunked!

Where? Last I heard, MM said he still had a financial interest in Pompey but wasn't going to say what it was.

[Suffolk_fox]

Try this - www.timesonline.co.uk/article/0,,2093-2508430.html

Thanks for the link.

I seem to remember that it was decided that it would not interfere with any takeover. During MM's interview with CTV, he mentioned this.

[Daggers]

Is there anything new to these articles? Not really.

Is there anything definite in either one? No.

Are there any decent legitimate sources being quoted directly? Hmm, doesn't seem so.

Therefore, credibility I gave them? Almost none.

Is Mandy trying to get the club for less? Probably.

Who do I hold accountable if the deal falls over? The board.

[Suffolk_fox]

Until there is an official statement, I am not getting too excited either way.

Bugger all I can do to alter things, so why worry?

[Kilworthfox]

Quite an interesting article, which will put yet more pressure on the board to accept. I think what will happen now is that Milan will want to put AN offer in this week, even if the board are unsure as to whether our shareholders will definitely accept or not. The board will then have to report to our shareholders that the bid has been reduced because................................ I think it's fair to say everyone knows why, because we are in the shit. If this deal doesn't go through, Kisnorbo, Hume and Stearman will all be off as we are desperate for cash.

At the top part of bill's article he mentions new debts appearing, I wonder if those who mean to hold out on the deal knew of these debts, and how informed all shareholders are when it comes to the financial securty of the club. Do they get told what the fans do that we made over 1million last year so everything is fine? Which it clearly isn't.

Could it be possible that the holders out are still to be informed of said debt and they would be working on figures told to them in the 1st instance by those who hide the debt in the 1st place? There does seem to be some confusion with the value of the club, which I believe to be less than 6 million if we are making profit of 1.5 mil last season when we had parachute payments and the 3 mil sale of connolly.

[Mort]

Who do I hold accountable if the deal falls over? The board.

Seems more likley that its the shareholders who would be to blame, they could make or break a deal regardless of the board if they so wished and the big shareholders seem to be the one with totally unrealistic expectations as to what they should expect for those shares, all to the detriment of the club as a whole.

A thought that had crossed my mind was that this could be all be in response to some kind of crisis over the weekend, some sources say MM talked with Wolves at the weekend and some say there was big disagrement with some City shareholders, so the talk of the the deal falling through could be a ploy by MM to bring the shareholders into line... at least i hope thats all it is and i hope the shareholders realise how weak their position actually is (eejits!).

[Surreal Madrid]

Who do I hold accountable if the deal falls over? The board.

Even if it's MM's fault?

[Ric Flair]

At the top part of bill's article he mentions new debts appearing, I wonder if those who mean to hold out on the deal knew of these debts, and how informed all shareholders are when it comes to the financial securty of the club. Do they get told what the fans do that we made over 1million last year so everything is fine? Which it clearly isn't.

Could it be possible that the holders out are still to be informed of said debt and they would be working on figures told to them in the 1st instance by those who hide the debt in the 1st place? There does seem to be some confusion with the value of the club, which I believe to be less than 6 million if we are making profit of 1.5 mil last season when we had parachute payments and the 3 mil sale of connolly.

You've raised a good point here, I do wonder whether our shareholders would be aware of the level of debts we have. Some will do, some won't give a shite to be honest. It may dawn upon them though that if Mandaric is serious about either lowering the price or walking that they may want to accept what they can otherwise they'll end up putting more cash in themselves or getting nowt for their shares in the distant future when we get relegated and fold again.

[Ric Flair]

Even if it's MM's fault?

I don't want our board in charge though, so if MM walks away. I would still hope us fans make it perfectly clear that we want something done.

[Daggers]

Even if it's MM's fault?

I hardly see how the bid failing would be MM's fault, do you?

I believe that the shareholders should act in the best interest of the club and not their wallets.

[Kilworthfox]

You've raised a good point here, I do wonder whether our shareholders would be aware of the level of debts we have. Some will do, some won't give a shite to be honest. It may dawn upon them though that if Mandaric is serious about either lowering the price or walking that they may want to accept what they can otherwise they'll end up putting more cash in themselves or getting nowt for their shares in the distant future when we get relegated and fold again.

Does make you think do they only know as much as us or less? If it was me i'd want to know as much a possible, but its not me is it so maybe they trust the power that be that what they say i.e 1.5 mil profit is an accurate reflection of the clubs financial fortunes.

If I was told my share were worth £100 and MM offered £30 I would say no, If I genuinely were mislead with the clubs financial misleading statements from last season.

[Swedging]

I hardly see how the bid failing would be MM's fault, do you?

If MM doesn't put a bid in because he's still got the stake in Pompey?

[Kilworthfox]

If MM doesn't put a bid in because he's still got the stake in Pompey?

would MM come out and say he has no stake in Pompy if he had one?

I don't know I shoud imagine he is the type of charachter to tell the odd porky but with something that is of this magnitude and an obvious rule which most on this board would have known about even before the takeover business. MM would have know about it too so I would doubt the papers not MM for the moment.

[Ric Flair]

If MM doesn't put a bid in because he's still got the stake in Pompey?

Surely if this was the case, the FA would have go involved before hand? Or is it because an OFFICIAL formal bid hasn't been made that they haven't? Also, Mandaric and Portsmouth have said that MM doesn't have any shares in Pompey any longer. If he does and it's no more than 10% he's alright anyway.

Let's not duck away from the fact that the reason the bid looked precarious back in November was because Milan wasn't offering our shareholders ALL of their money back. Now it's come out again he doesn't think they should get it ALL back at once and the bid is again in a precarious position. Doesn't take a lot to fathom out why! The board are worried our shareholders won't accept and therefore are stalling negotiations and that will annoy Mandaric. Our finances must be a horror show, it's no surprise Mandaric would lower his offer after seeing them.