Suffolk_fox Posted 18 December 2006 Posted 18 December 2006 Well technically they are shareholders so they could sway the decision but only if it was pretty much even on who wanted the take-over to go ahead and who didn't and The Trust's vote happened to vote in favour of it not going ahead. All hypothetical of course, but i've never thought The Trust are powerful enough to cause problems with this. I just don't like them claiming to be the voice of the fans, yet not representing their voice. However, I do think The Trust have acted fairly well in the past couple of weeks. Spot on Ric. Agree on all points there.
Manwell Pablo Posted 18 December 2006 Posted 18 December 2006 So why do so many on here continue to say it is their fault if things go wrong? If they hold no sway over the board they can't influence the takeover in any way. They'll be the only feckers left around to blame They're a bunch of jokers anyway, if this deal falls through we need to make our feelings towards them clear. Since this takeover deal started it has come to light that we aren't fiancially sound at all despite them saying we are. We were making a loss and they had no idea how to spot that, a change is needed.
Fox in a Box Posted 18 December 2006 Posted 18 December 2006 Wouldnt it just be cool though if MM came to leicester dressed as SANTA with a big fat cheque for all the DOSH HO HO HO
Ric Flair Posted 18 December 2006 Posted 18 December 2006 Wouldnt it just be cool though if MM came to leicester dressed as SANTA with a big fat cheque for all the DOSH HO HO HO I think it would be even more cringeworthy than when Birch did that speech in front of the kop a few years ago, but if it meant MM getting the deal sealed i'd even dress up with him.
Fox in a Box Posted 18 December 2006 Posted 18 December 2006 I think it would be even more cringeworthy than when Birch did that speech in front of the kop a few years ago, but if it meant MM getting the deal sealed i'd even dress up with him. and me ric Blue and white santa outfit of course
Chrysalis Posted 18 December 2006 Posted 18 December 2006 If MM doesn't put a bid in because he's still got the stake in Pompey? this isnt true. The fa have commented on this already and wont be the reason for the hold up.
davieG Posted 18 December 2006 Author Posted 18 December 2006 Well I've just come in and read most of that and there aint half some bolloxs being written with old news/rumours mixed up new rumours/news. Blame being cast around left right and centre, you all had better duck because at this rate some of it's bound to come your way. I really don't know what all the fuss is about, you got the Merc & RL spouting conjecture in order to sell a few newspapaers/gain a few extra listeners. You've got supposedly LCFC shareholders drip feeding stories to discredit MM. You've probably got MM's reps leaking tittle tattle, well it could only have been them that would say there were unspecified debts hidden away. All of this is the usual brinkmanship associated with take overs, this is how financial consultants and both sides will have them earn their money, they are paid by the hour - the longer it drags on the more they earn. It's not rocket science. I'd be absolutely amazed if this deal doesn't drag on and doesn't end up with MM in charge - all that will be different will be the details of the bid. Some will say the shareholders should just accept whatever's being offered, well as we don't have one iota of fact on what that is then we are not in a position to say that.
Chrysalis Posted 18 December 2006 Posted 18 December 2006 Curious if the FT will comment on if any truth in MMs people saying nervy stuff has been revealed in the DD. I remember commenting in the past how we are still making losses and the profit from last year was a false profit in that it was in the year of the connolly sale and a parachute payment year, the books may have revealed the future needs investment just for the club to break even, and if i was manderic I would certianly reduce my offer as this makes shares wirth less money. I will be very angry if I find the board are spending all these days simply trying to negotiate more cash for shareholders. Why should shareholders deserve a reward when the club has no success?
Stevosevic Posted 18 December 2006 Posted 18 December 2006 SSN jus said he has found problems with the accounts and will need more time to review them
Daggers Posted 18 December 2006 Posted 18 December 2006 Some will say the shareholders should just accept whatever's being offered, well as we don't have one iota of fact on what that is then we are not in a position to say that. Not quite in agreement there davie - the shareholders had no plans on ploughing more (badly needed) money into the club and are presiding over a steady period of decline. Our option for the future appears limited at minor-income player sales and continual cut-backs without investment (no matter what people may offer as conjecture)...and therefore the real value of the shares is only what someone will offer...and there is only one person bidding. A bidding war would have benefited the shareholders, and yet the board failed to provide these mystery people that were also (reportedly) interested. If the person coming in to take over the club promised investment in the playing squad with a view to taking the club back to the Premiership then an offer of £0 per share would be better than we have at present. Whatever the value of the current figure being debated behind closed doors - it's going to be more than they'll be hearing if we go down a division. To me, it's quite clear-cut now: if the present shareholders are unwilling or unable to contribute reasonable funds to improve the depth and breadth of the squad then they should be accepting any offer put to them (in the interests of the club). Each extra penny they extract from Mandaric means a penny less for the team.
davieG Posted 18 December 2006 Author Posted 18 December 2006 Not quite in agreement there davie - the shareholders had no plans on ploughing more (badly needed) money into the club and are presiding over a steady period of decline. Our option for the future appears limited at minor-income player sales and continual cut-backs without investment (no matter what people may offer as conjecture)...and therefore the real value of the shares is only what someone will offer...and there is only one person bidding. A bidding war would have benefited the shareholders, and yet the board failed to provide these mystery people that were also (reportedly) interested. If the person coming in to take over the club promised investment in the playing squad with a view to taking the club back to the Premiership then an offer of £0 per share would be better than we have at present. Whatever the value of the current figure being debated behind closed doors - it's going to be more than they'll be hearing if we go down a division. To me, it's quite clear-cut now: if the present shareholders are unwilling or unable to contribute reasonable funds to improve the depth and breadth of the squad then they should be accepting any offer put to them (in the interests of the club). Each extra penny they extract from Mandaric means a penny less for the team. Well I guess it depends on your stand point and how you see the future of the club with out the MM offer. If I was a fan that had some funds at the time of administration and put in £50k, which some people did and I was now made an offer that meant the club went to a none LCFC fan who's sole interest was to make a profit, albeit the club also benefitting and some of that profit was at my expense, I don't think I would be best pleased especially if there were other strings attached to my detriment or the future long term well being of the club. If MM is so keen on LCFC and see's big £Â£Ã‚£Ã‚£ signs in front of his eyes, and let's face it why else would he be involved then let him put his money on the table and show some commitment to the cause, sure it's a risk but that's what people like him do and he's obviously worked out the odds of being successful and decide it's a goer, if the rumours of his offer bears any truth the cost to him is peanuts and less than the current shareholders invested, yet he is viewed as the second coming. His strategy seems to be to buy cheap borrow money, probably in the name of LCFC (???) if it's successful he walks away with his riches and yes we might be in the premiership or if it fails he leaves us with a load of debt, no he didn't do that at Portsmouth but that's because they were reasonably successful, but that's not guaranteed. We really don't know what the prognosis for the club is without MM's input, everyone assumes it will be the end of the club which is in my opinion clouding people's objectivety, Agreed success (as in promotion) might be difficult or even impossible for the forseeable future but we are not alone in that outlook. Unless someone can convince me that it is a straight choice between MM and oblivion then I'l remain objective and uncritical (although not of how it's being manipulated/communicated of which I find everyone carrying some guilt) of anyone involved in the takeover until such time as we have some facts, and lets face it most of the hysteria on here is based solely on gossip, mischevious reporting/leaking of information and probably a lie or two. Apologies I didn't mean to ramble on.
Jon the Hat Posted 18 December 2006 Posted 18 December 2006 If the person coming in to take over the club promised investment in the playing squad with a view to taking the club back to the Premiership then an offer of £0 per share would be better than we have at present. Each extra penny they extract from Mandaric means a penny less for the team. I don't agree with the first point. The more I think about it the more I think we need MM to have some of his cash actually invested in the club. If he gets the shares for nothing he can loan the club money and later on demand it back. If he buys the shares for £5M quid then he has £5M of his own money on the line and is tied to the club. If he doesn't make a success of things and then sell to someone else he is £5M out of pocket. I can see that the shareholders would be worried about someone who professes his commitment to the future of the club but wants it with no risk. I also think MM will have a very clear idea of what he wants to invest, and anything he saves on the purchase vs his original plan is unlikely to go into the playing budget. Why would it if he thinks he knows what will get the club into the Prem?
Swedging Posted 18 December 2006 Posted 18 December 2006 I don't agree with the first point. The more I think about it the more I think we need MM to have some of his cash actually invested in the club. If he gets the shares for nothing he can loan the club money and later on demand it back. If he buys the shares for £5M quid then he has £5M of his own money on the line and is tied to the club. If he doesn't make a success of things and then sell to someone else he is £5M out of pocket. I can see that the shareholders would be worried about someone who professes his commitment to the future of the club but wants it with no risk. I also think MM will have a very clear idea of what he wants to invest, and anything he saves on the purchase vs his original plan is unlikely to go into the playing budget. Why would it if he thinks he knows what will get the club into the Prem? Quite. The second point is nonsense too.
Ultra Posted 18 December 2006 Posted 18 December 2006 Well I guess it depends on your stand point and how you see the future of the club without the MM offer. If I was a fan that had some funds at the time of administration and put in £50k, which some people did and I was now made an offer that meant the club went to a none LCFC fan who's sole interest was to make a profit, albeit the club also benefitting and some of that profit was at my expense, I don't think I would be best pleased especially if there were other strings attached to my detriment or the future long term well being of the club. If MM is so keen on LCFC and sees big £Â£Ã‚£Ã‚£ signs in front of his eyes, and let's face it why else would he be involved then let him put his money on the table and show some commitment to the cause, sure it's a risk but that's what people like him do and he's obviously worked out the odds of being successful and decide it's a goer, if the rumours of his offer bears any truth the cost to him is peanuts and less than the current shareholders invested, yet he is viewed as the second coming. His strategy seems to be to buy cheap and borrow money, probably in the name of LCFC (???), if it's successful he walks away with his riches and yes we might be in the premiership or if it fails he leaves us with a load of debt, no he didn't do that at Portsmouth but that's because they were reasonably successful, but that's not guaranteed. We really don't know what the prognosis for the club is without MM's input, everyone assumes it will be the end of the club which is in my opinion clouding people's objectivity, Agreed success (as in promotion) might be difficult or even impossible for the forseeable future but we are not alone in that outlook. Unless someone can convince me that it is a straight choice between MM and oblivion then I'l remain objective and uncritical (although not of how it's being manipulated/communicated of which I find everyone carrying some guilt) of anyone involved in the takeover until such time as we have some facts, and lets face it most of the hysteria on here is based solely on gossip, mischevious reporting/leaking of information and probably a lie or two. Good points.
Daggers Posted 18 December 2006 Posted 18 December 2006 Well I guess it depends on your stand point and how you see the future of the club with out the MM offer.If I was a fan that had some funds at the time of administration and put in £50k, which some people did and I was now made an offer that meant the club went to a none LCFC fan who's sole interest was to make a profit, albeit the club also benefitting and some of that profit was at my expense, I don't think I would be best pleased especially if there were other strings attached to my detriment or the future long term well being of the club. Agreed, but what is the value of your share if there is no investment? Davies has already stated that players would be sold in January in order to make ends meet if no take-over goes ahead. Where does that leave the squad? Smaller and even more devoid of talent - that is the alternative short-term future. It may well pain shareholders to take a hit in the pocket but I really don't see the alternative to them... I don't agree with the first point. I understand your opinion Jon - original as well...tie him to a debt then he has an investment in our future. I can see its appeal but don't buy in personally. Quite. The second point is nonsense too. Disparaging and devoid of factual content. Well done. Which bit is nonsense then - Davis' statement that we would have to hold a fire-sale in January...that (clearly) impacting on future share value or the blindingly obvious fact that only one person has expressed an interest in the club this season?
Swedging Posted 18 December 2006 Posted 18 December 2006 Which bit is nonsense then This bit: "Each extra penny they extract from Mandaric means a penny less for the team." Unless you believe that MM only has around £5million and no way of getting hold of more.
lookwhaticando Posted 18 December 2006 Posted 18 December 2006 Well I've just come in and read most of that and there aint half some bolloxs being written with old news/rumours mixed up new rumours/news. Blame being cast around left right and centre, you all had better duck because at this rate some of it's bound to come your way. I blame the fans. <_< They get carried away and blow everything out of proportion.
Molson Canadian Posted 18 December 2006 Posted 18 December 2006 From 4thegame: http://www.4thegame.com/club/leicester-cit...foxes_hunt.html Mandaric still in Foxes hunt Monday 18 Dec 2006 Milan Mandaric's £25million takeover of Leicester City is still on according to the former Portsmouth chairman's advisors. Reports in the weekend press suggested the former Pompey supremo was poised to pull the plug on the deal following the discovering of extra debts that weren't revealed in the early stages of the buyout process. Advisors working on behalf of Mandaric have scotched the rumours but have warned that the deal could be in danger if a revised price can't be agreed. "Discussions between Mr Mandaric and Leicester City in connection with Mr Mandaric's interest in the club are continuing," read a statement. "The ongoing due diligence into the affairs of the club has raised certain legal and financial issues which merit further investigation. "The club and Mr Mandaric are working together with their respective advisers to seek to address these points."
Suffolk_fox Posted 18 December 2006 Posted 18 December 2006 OK, I admit the board are no hopers when it comes to running a football club, but I don't think that the generous people like Gary Lineker and Emile Heskey should be ripped off. Granted they didn't expect to get anything back, but we should at least reward their loyalty by hoping they get as much back as they can. I don't want the takeover to collapse through greed, but on the other hand the people who saved our bloody club from extinction should not be sold down the river...
Molson Canadian Posted 18 December 2006 Posted 18 December 2006 From 4thegame: http://www.4thegame.com/club/leicester-cit...r_in_doubt.html Foxes takeover in doubt Monday 18 Dec 2006 Milan Mandaric's takeover of Leicester City is rumoured to have hit the rocks after reports suggested extra debt had been uncovered in the due diligence process. The former Portsmouth chairman was believed to be close to completing a £25million takeover of the Championship club. Rumours of a potential snag in the deal surfaced after Mandaric wasn't present at Saturday's victory over Barnsley as expected. Last month Mandaric remained enthusiastic about the buyout, claiming: "It should be a matter of time before we can put this together." However, Should the deal fall through then Mandaric has been tipped to turn his attention to the Foxes' Midlands rivals Wolves. Chairman Sir Jack Hayward has put the Molineux club up for sale with a revised £20million asking price.
l444ry Posted 18 December 2006 Posted 18 December 2006 Be a right turn up for the books if Mandaric has found hidden/undisclosed debts at this end of the deal. What will all the anti-Mandaric baiters use to beat him with after this? Quite honestly, I've found most of the anti-Mandaric brigade (although there's not that many) distasteful in their unjustified criticisms of his takeover plans. Why don't you just call him a liar?....because that's what you are all insinuating.
leeleic Posted 18 December 2006 Posted 18 December 2006 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. I'll be the first to start a terraced chant!
Jon the Hat Posted 18 December 2006 Posted 18 December 2006 Be a right turn up for the books if Mandaric has found hidden/undisclosed debts at this end of the deal. What will all the anti-Mandaric baiters use to beat him with after this? Quite honestly, I've found most of the anti-Mandaric brigade (although there's not that many) distasteful in their unjustified criticisms of his takeover plans. Why don't you just call him a liar?....because that's what you are all insinuating. What is distasteful is the willingness to completely disregard the facts, the current playing staff, the board who put £6m of their own money and any concerns over the future of the club in order to dream about premiership football.
Surreal Madrid Posted 18 December 2006 Posted 18 December 2006 Let's be honest, MM is doing what any hard-nosed businessman would do in his position, he's trying to get the asking price down ( linked to the fact the apparently Gaydmark still hasn't paid him £8 million? ). I wouldn't imagine there is anything of great import his accountants and lawyers have found in the books, other than our budgets are out a bit due to the lack of success on the field - he is not a stupid man, and I would have thought he would have had a fair idea of that when he put his indicative bid in.
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