Mort Posted 18 December 2006 Posted 18 December 2006 ...you are forgetting we made a £1.5m operating profit last year With a parachute payment and the sale of Connolly (which alone was worth £3mil), the £1.5m figure is a mirage spread about by the club to cover up the fact that financially we're in the crapper and sinking fast.
Swedging Posted 18 December 2006 Posted 18 December 2006 Just got back from a long day on the road and have to say that every radio station of note has been reporting the following 1 the deal is in a delicate position because of financial matters arising from the period of due diligence. the question is what are the financial matters arising and why have they only been brought to light by a period of due diligence carried out by a prospective buyer. my suspicion is that the finances must be worse than we think and this would explain the recent rush by the current board to overtly seek external investors and would explain why they are reluctant and have been reluctant to stup up any more cash. 2 the only reasons listed by the media for a hold up in the takeover are matters discovered during the period of due diligence and thus have nothing to do with mm himself. we can only presume that the problems lie at our end of the deal. i hope this can be worked out but the longer matters drag on the more chance it will not. without outside investment i fear that players will have to be sold and our squad size reduced and in line with current thinking our academy could well close. Points 1 and 2 are probably just Milan's people's spin so I shouldn't worry yet.
Matt Posted 18 December 2006 Posted 18 December 2006 It is illegal for either part to discuse the situation with anyone other than each other. so I dont believe a word of what the press is saying. they are making assumptions. Also MM is not buying the club for £25m he has offered about £6.3m so they have not even got the basic facts right and you are forgetting we made a £1.5m operating profit last year I am not disputing the fact because I don't know either BUT you said "It is illegal for either part to discuse the situation with anyone other than each other." Then later on you say "Also MM is not buying the club for £25m he has offered about £6.3m" How do you know (And others) he had offered about £6.3m when "It is illegal for either part to discuse the situation with anyone other than each other."
step Posted 18 December 2006 Posted 18 December 2006 With a parachute payment and the sale of Connolly (which alone was worth £3mil), the £1.5m figure is a mirage spread about by the club to cover up the fact that financially we're in the crapper and sinking fast. They cant falsify accounts to that extent. We are one of the few club that dont owe someone millions
Swedging Posted 18 December 2006 Posted 18 December 2006 With a parachute payment and the sale of Connolly (which alone was worth £3mil), the £1.5m figure is a mirage spread about by the club to cover up the fact that financially we're in the crapper and sinking fast. Somewhat less of a mirage than some other accounting profits, of course. I don't think anyone's hidden the fact that this year, without the £7million, things look much more unpleasant. And anyone who thought otherwise probably deserves having their leg lifted.
Mort Posted 18 December 2006 Posted 18 December 2006 I don't think anyone's hidden the fact that this year, without the £7million, things look much more unpleasant. Hidden is the wrong word, but the club has tried to give the impression that the profits represented somthing far more substantial than they really did, but to be honest what board wouldnt under the circumstances. The anoying thing is that the impression (and i stress the "impression") given off to many fans is that as the club struggles and sinks further the leadership of the club are pissing away our best chance of a solution to the worst crisis in our history... "fiddling while Rome burns" is a good analogy for the common perception of the clubs leadership by the majoirty of LCFC supporters.
Foxes_Trust Posted 18 December 2006 Posted 18 December 2006 Really... they did what was best for the club four years ago, since then with had zero investment and some of our shareholders are in a perfect position to significantly invest only they havent, if they turn down the offer of investment and leadership which MM represents then why havent they stumped up the cash and investment in the past and what about now? I cant belive that those with the cash to buy the amount of shares some of our shareholders have are so stupid, obtuse and shortsighted as not to see whats in the long term interests of the club... it beggers belife! Not quite, the Trust has increased it's investment by 50% since then. A couple of other shareholders have increased their holding & then Andrew Taylor put £250k as a new investor earlier this year.
Foxes_Trust Posted 18 December 2006 Posted 18 December 2006 Does anyone think that Jon Barber and Chris Egerton have fed on some words "a precarious position." they are just trying to make a name for themselves as reporters. Just because MM didnt get the full go ahead on the 15th as planned they are trying to squeeze blood out of a stone. (reporters are usually gutter fodder) Mandaric bid "precarious" Sources have told BBC Leicester, Milan Mandaric's deal to take over Leicester City Football Club is in "a precarious position." Listen to our report to find out more... The Serbian businessman offered £6.4 million to the 50 or so shareholders of Leicester City Football Club, who helped keep the club survive in the aftermath of its going into administration. But it's thought that the conditions attached are where the sticking points lie. **** It seems that MM conditions are slighty different to those what the board expected. The Solicitors/law firms would be ironing this out, I would be a shame if p*ss poor reporting put of a potential investor, mind you the board really need to make sure that everything is in place correctly and that includes the FT being gagged. I cant for the life of me see any wrong doing with the books after the administration debacle, so its more a case of dotting the eyes and crossing the tee's. Milan is a shrew business man and would explore all avenues to get the best deal available to HIM. Good luck and come on Board and MM a want a nice xmas! .. BARBER OUT Why haven't you demanded Anderson out for all the mis-leading he has been doing?
Foxes_Trust Posted 18 December 2006 Posted 18 December 2006 this isnt true. The fa have commented on this already and wont be the reason for the hold up. So MM not receiving £8m from the Russian guy has no impact on financing the deal for us?
The People's Hero Posted 18 December 2006 Posted 18 December 2006 So MM not receiving £8m from the Russian guy has no impact on financing the deal for us? If you can't say anything, don't say anything. I'm fed up with your know it all posing of questions to other people, when you know more than we do. At least you should do. Nothing would surprise me with you lot. Still, if you want to get involved in this, tell us what is going in. If you can't, don't... but don't ponce around here, high and mighty, speaking in code. You're a disgrace.
Foxes_Trust Posted 18 December 2006 Posted 18 December 2006 What "facts"? Insinuations and character assasination I'd call it. As for the shareholders £6million....Birch and Gary Lineker have both stated publicly that they didn't expect to ever see the money come back to them. I lost a five figure sum when the club last went tits up as many others did, why don't we get some back as well then? What happened to all that supporter bullshit they rode in on? Where are those "mystery" bids that emerged when Mandaric first showed interest? And some call Mandaric dishonest because he'd borrow money.....that's a laugh. This board have put in jeapordy perhaps our only golden hope....the prats. Birch isn't a shareholder himself (but raised significant funds for the Trust)
Foxes_Trust Posted 18 December 2006 Posted 18 December 2006 You are playing Devil's Advocate very well DavieG. What I fail to see is, though, why would Mandaric want to alienate the people whom he needs to reach agreement with? It is the anti-Mandaric brigade who keep spinning these stories in the futile hope that they can discredit him. Dare I say you have just inadvertently done that yourself, although I'm pretty sure it wasn't your intention. He did that at the start by playing his campaign via the media to get the fans on board, rather than concerntrating on the 48 shareholders, the ones who would actually make the decision (that move could be viewed as a Frank Sinclair special)
Swedging Posted 18 December 2006 Posted 18 December 2006 So MM not receiving £8m from the Russian guy has no impact on financing the deal for us? On financing, initially, probably not. What was the Pompey sale? If it's £32 million - £15 million up front and then waiting on the rest. then that should give him enough to buy Leicester - or at least give him the clout to borrow the rest of what's needed. Even if he sold Pompey because he needed to.
l444ry Posted 18 December 2006 Posted 18 December 2006 Birch isn't a shareholder himself (but raised significant funds for the Trust) I wasn't suggesting that he was a shareholder...just mentioning what he said. And I stand by what I heard him say.
He's not bald Posted 18 December 2006 Posted 18 December 2006 If you can't say anything, don't say anything. I'm fed up with your know it all posing of questions to other people, when you know more than we do. At least you should do. Nothing would surprise me with you lot. Still, if you want to get involved in this, tell us what is going in. If you can't, don't... but don't ponce around here, high and mighty, speaking in code. You're a disgrace. Here here..I just want what's best for my beloved club and all this cr** is doing untold damage to the prospect of any investment in the foreseable future if this deal fails!
Mort Posted 18 December 2006 Posted 18 December 2006 ....all this cr** is doing untold damage to the prospect of any investment in the foreseable future if this deal fails! Somthing which i had thought as well, this debacle over the takeover just means that should (heaven forbid) the take over bid fail then who will want to touch us with a barge poll after the way talks with MM have gone... it doesnt matter if the perception is an unfair one, its the perception that the anyone will have of City as a "prospect", we're a joke of a club and have been since we got relegated... it's amazing the club just dont see what a pathetic outfit we really are when you compare us with the club that went down in '04, even the club that ended the '04/05 (before CL got the axe out).
lookwhaticando Posted 19 December 2006 Posted 19 December 2006 He did that at the start by playing his campaign via the media to get the fans on board, rather than concerntrating on the 48 shareholders, the ones who would actually make the decision (that move could be viewed as a Frank Sinclair special) Whoever said the Trust didn't have a sense of humour?
Smudge Posted 19 December 2006 Posted 19 December 2006 Why haven't you demanded Anderson out for all the mis-leading he has been doing? What an unprofessional thing to say?......you're a rabble. I strongly advise that you get another spokesperson to represent you on here.
Smudge Posted 19 December 2006 Posted 19 December 2006 but don't ponce around here, high and mighty, speaking in code. You're a disgrace. They bloody well are. Who is this person, why is he/she anonymous?
Daggers Posted 19 December 2006 Posted 19 December 2006 They bloody well are. Who is this person, why is he/she anonymous? It's not a 'he' it's a 'they', VaFox ~ the Trust board share the log-on...and by doing so cause confusion and present a fragmented approach to information dissemination. It has been suggested on numerous occasions that Foxes Trust reserve comment (on the various boards) to simply putting over factual information rather than using the name of the body to lend credence to rumour or personal opinion. It is the ongoing misuse of the authority & trust placed in them by the membership that has guaranteed that I for one will not renew my membership.
teblin Posted 19 December 2006 Posted 19 December 2006 From what a can gather it is nothing to do with money that milan has got or hasn't got, it to do with problems that reviewing the clubs books hvae shown up. Despite all of this i believe the bid will go through, the boars don't have a better option, else they wouldn't have back milans bid.
He's not bald Posted 19 December 2006 Posted 19 December 2006 How did it come to this? I'm envious of Reading,Wigan,Portsmouth and Sheff Utd.... unbelievable Even Fo***st are having a good season (even if it is league 1) and I bet the supporters are a whole lot happier and enjoying their football more then we are. As a long suffering and dedicated city fan I am usually the "eternal optimist" but I have bad feelings about all this and 2007 could be a bad year for us!!!
Ric Flair Posted 19 December 2006 Posted 19 December 2006 Somthing which i had thought as well, this debacle over the takeover just means that should (heaven forbid) the take over bid fail then who will want to touch us with a barge poll after the way talks with MM have gone... it doesnt matter if the perception is an unfair one, its the perception that the anyone will have of City as a "prospect", we're a joke of a club and have been since we got relegated... it's amazing the club just dont see what a pathetic outfit we really are when you compare us with the club that went down in '04, even the club that ended the '04/05 (before CL got the axe out). Your not wrong. There won't be many other 'investors' out there that would be willing to take this club over, even for a small price. We are a sinking ship and have been since O'Neill left. If this falls through, the only small hope we have is if either Martin George tries to rescue us (that is possible) or one of our very, very kind shareholders who has a lot of money decides to pump a significant amount in. Only problem there is, we will still have the same people run this club and i'm not that keen on that. Their decision making skills are worse than a pissed up donkey.
Jon the Hat Posted 19 December 2006 Posted 19 December 2006 Somthing which i had thought as well, this debacle over the takeover just means that should (heaven forbid) the take over bid fail then who will want to touch us with a barge poll after the way talks with MM have gone... it doesnt matter if the perception is an unfair one, its the perception that the anyone will have of City as a "prospect", we're a joke of a club and have been since we got relegated... it's amazing the club just dont see what a pathetic outfit we really are when you compare us with the club that went down in '04, even the club that ended the '04/05 (before CL got the axe out). What debacle? All you have is media crap. The deal is as likely to go through now as when we first heard it. MM has a plan and he is executing it. This will have no bearing whatsoever on future bids should it fail. Anyone who is in the game of buying and selling businesses knows this is all just speculation.
Fox in a Box Posted 19 December 2006 Posted 19 December 2006 Why haven't you demanded Anderson out for all the mis-leading he has been doing? Blanderson works for the 'trinity mirror' group and not the BBC, I pay for my licence and I would expect FACTS not some fairy in the sky fiction that he comes out with sometime.... You can read Blandersons comments...and make your own mind up and he is free to express himself. Jon Barber is on air and his snap comments tend to taken out of proportion this is very poor journalism indeed. Neville Foulger was precise and had good points when he presented. Mind you the foxes trust create SPIN from nothing too!
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