Brummie-FOX Posted 27 December 2006 Posted 27 December 2006 It does say that Mandaric stated the deal could be done by January 2007 at the earliest. When did he say that? Did he say that??
MC Prussian Posted 27 December 2006 Posted 27 December 2006 It does say that Mandaric stated the deal could be done by January 2007 at the earliest. When did he say that? Did he say that?? Everyone can fool around with Wikipedia, so don't trust it.
He's not bald Posted 27 December 2006 Posted 27 December 2006 Just had a thought! It's too late for a cheque to clear now before January so if Mandaric is going to buy us it will now need to be a cashpoint jobbie...wonder which one?
Brummie-FOX Posted 27 December 2006 Posted 27 December 2006 I wouldn't really mind if it was the case anyway The earlier the better though
Louise Posted 28 December 2006 Posted 28 December 2006 Mandaric lowers Leicester valuationMilan Mandaric has made a revised bid to take over Leicester City, the Coca-Cola Championship club, but it is a substantially lower offer than that made by the former Portsmouth owner earlier this month. As The Times revealed ten days ago, Mandaric’s proposed £25 million buyout was on the brink of collapsing when the businessman became unhappy after seeing the results of his accountants’ examination of the club’s finances. Financial and legal issues were raised during due diligence and, shortly before Christmas, Mandaric walked out of a meeting with Leicester officials. However, he has now returned with a reduced offer, which the Leicester board is considering. Mandaric had received the backing of two former Leicester players  Gary Lineker, who owns 100,000 shares, and Emile Heskey, who has 50,000. Hammond Grange, a property management company, and Pukka Pies are the largest stakeholders. Leicester’s accounts value the shares at £6.3 million. http://www.timesonline.co.uk/article/0,,27-2520897,00.html
lcfc_jme Posted 28 December 2006 Posted 28 December 2006 Thanks Louise as ever for bringing us an update on things However, this is just another story, not telling us the deal is off, simply saying things have changed slightly. Really, we're no closer to having the takeover complete, Mandaric hasn't pulled out, the board haven't rejected it and talks are still ongoing!! Oh how I love this saga..
lookwhaticando Posted 28 December 2006 Posted 28 December 2006 Thanks Louise as ever for bringing us an update on things However, this is just another story, not telling us the deal is off, simply saying things have changed slightly. Really, we're no closer to having the takeover complete, Mandaric hasn't pulled out, the board haven't rejected it and talks are still ongoing!! Oh how I love this saga.. Shows he hasn't backed away, shows he is still interested, shows we're in deeper than we thought already... Deal is still alive, now it's up to the board, supposedly, to decide who can do more for the club - them or Mandaric.
lcfc_jme Posted 28 December 2006 Posted 28 December 2006 Shows he hasn't backed away, shows he is still interested, shows we're in deeper than we thought already... Deal is still alive, now it's up to the board, supposedly, to decide who can do more for the club - them or Mandaric. Thanks for sort of echoing my post sir lwicd It's a no-brainer really. The board know Mandaric can do better for this club than they can. However, their greed may be the deciding factor in all of this. I wouldn't like to say which way the drama will unfold - which is why I'm not going to and I'm going to wait for an official statement
He's not bald Posted 28 December 2006 Posted 28 December 2006 Remember this because it's important..and you heard it here first! Nobody but the key players know...ok?
lcfc_jme Posted 28 December 2006 Posted 28 December 2006 Remember this because it's important..and you heard it here first! Nobody but the key players know...ok? Doesn't sound too good.. Care to expand or you just going to leave it at that?? And anyways, are you a trusted source or somebody people will shoot down?
Daggers Posted 28 December 2006 Posted 28 December 2006 ...are you a trusted source or somebody people will shoot down?
lcfc_jme Posted 28 December 2006 Posted 28 December 2006 Right.. Is this you being serious and saying the guy should not be believed or are you just looking to post a picture involving a gun and something being shot at?!?!
lookwhaticando Posted 28 December 2006 Posted 28 December 2006 Found this on 606 in relation to Leeds and the (re)sale of their ground... How long will it take for people to stop shafting our club. I for one am sick of it - We need somebody like Mandaric with more cash than bates and a willingness to invest in players to take the club forward and stop the slide. 606: Leeds give Stadium assurance More cash? Supposedly, Mandaric deals in debt not cash. PS: Get your own rich foreigner. Dirty Leeds. <_<
Matt Posted 28 December 2006 Posted 28 December 2006 Wow..you should be a politician...you have just summed up in 93 words exactly what I said in 27!! Wow..you should be a mathematician...you can count!!
Louise Posted 28 December 2006 Posted 28 December 2006 Crunch time Milan Mandaric has submitted his revised terms to take over Leicester City just four days before the January transfer window opens. The club's shareholders now have to decide whether to accept in principle the latest figures in a prolonged saga that appears to be going right down to the wire. Mandaric's offer still amounts to £25million but the terms have been revised. If Mandaric, below, is to be in a position to hand manager Robert Kelly funds in time for the opening of the transfer window on Monday, a decision will have to be made quickly. After going through the books during a process of due diligence, Mandaric's advisors found a higher level of financial burden than they had been led to expect. City insisted at the time that the deal was still on-going. Mandaric has lost none of his enthusiasm for the takeover but wants it to happen as soon as possible so he can set about reviving City's fortunes. Time, however, is of the essence and it is now down to the shareholders who, famously, gave Mandaric's first offer the green light six weeks ago. The new terms are not the official bid, only the 'heads of agreement'. If the shareholders reject, or ask for more time to consider, then the process will be delayed even further. Mandaric is totally committed to the deal, and City claim to be as well. Yet the way things are being dragged out does neither of them any good. If Mandaric does become the new owner in time, then City can work in the transfer market. If there is a delay, then the chance will be missed. Thankfully, the picture is a bit clearer on the playing side where City have recovered from a bad run during which they took just one point from 18, and look poised to end a traumatic year in reasonably promising shape. Kelly, as always, needs to concentrate on "the real world", as he calls it, and cannot afford to imagine what may, or may not, transpire in the next few days. He said: "All we are thinking about is going to face Southampton on Saturday. That is all we can do. "We have won our last two away games and will go there with no fears, but we do know they have a good home record and that it will be difficult. "With so many games coming at us at this time, we are in reasonably good shape, with no major injury worries among the regular players. But that can soon change so we need as many of them as possible fit and ready." http://www.thebluearmy.co.uk/details.asp?b...6269754|p|536|0 *twitch*
Webbo Posted 28 December 2006 Posted 28 December 2006 Thanks for sort of echoing my post sir lwicd It's a no-brainer really. The board know Mandaric can do better for this club than they can. However, their greed may be the deciding factor in all of this. I wouldn't like to say which way the drama will unfold - which is why I'm not going to and I'm going to wait for an official statement if the club is in serious debt, then the current board would be responsible for that surely? if they're only thinking of themselves then it's in their interest to get rid as quickly as possible. i think it's time people stop blaming the board and assume that they're leicester fans like us, and want the best for the club.
Phlashman Posted 28 December 2006 Posted 28 December 2006 Time, however, is of the essence and it is now down to the shareholders who, famously, gave Mandaric's first offer the green light six weeks ago. Famously? And this guy is a professional Journo? I think the board should say yes to anything MM has to offer. ... ANYTHING
Libertine Posted 28 December 2006 Posted 28 December 2006 Are we going to experience our first bit of the crunch? Milky joe will get meh.
Joe. Posted 28 December 2006 Posted 28 December 2006 Well at least things are being pushed on right now. Milan wants a decision made now and I think the board will accept it and things will get going again.
SilverFox Posted 28 December 2006 Posted 28 December 2006 Well at least things are being pushed on right now. Milan wants a decision made now and I think the board will accept it and things will get going again. The board might but what about the shareholders. The times report that the offer is significantly less than the original proposal. I for one am pretty worried.
step Posted 28 December 2006 Posted 28 December 2006 if the club is in serious debt, then the current board would be responsible for that surely? if they're only thinking of themselves then it's in their interest to get rid as quickly as possible. i think it's time people stop blaming the board and assume that they're leicester fans like us, and want the best for the club. Well said
Louise Posted 28 December 2006 Posted 28 December 2006 RL are reporting that DD is now over and the club are just waiting for MM's final offer.
Recommended Posts
Archived
This topic is now archived and is closed to further replies.