mancunianfox Posted 4 January 2007 Posted 4 January 2007 This James Johnson geezer has apparently been against the MM take-over from the start and according to a rumour on another forum, he had to be restrained at one of the Leicester games when Birch announced that MM had been given the green light to view the books. Wasn't it announced when the board and shareholders gave the go-ahead, that every shareholder in attendance gave the green light? Now either Johnson gave the green light, or didn't attend. Or the story that all shareholders were backing the take-over was untrue. Either way, if Johnson has been against it from the off then it can't have put the other shareholders off too much otherwise the un-animous backing of the principle bid back in November/December wouldn't have happened. MM needs 90%, if the board are backing it then it's likely that the shareholders will do aswell. But 10% isn't that many shareholders put together to de-rail this take-over. I'm sure the shareholders will back what the board have decided, if they don't then it speaks volumes about what our shareholders think of our current board. There would surely be a new board needed anyway? Plus the shareholders that reject it, would and should have to seriously stump up with some cash to keep this club going. Sensible post that.
renards Posted 4 January 2007 Posted 4 January 2007 Sorry unable to back this up with out mentioning the name of the source, nothing out of the ordinary and believable Peter Toms has been out to the states to talk to Teachers (assume it was in the early stages) The Club will be in very deep do-do by Febuary if the deal fails. They have used (by agreement) Wilson, and another large local company? as the 'other interested' investers to gee up MM's offer He's obviously seen through this and called ther bluff with a lower offer
Strokes Posted 4 January 2007 Posted 4 January 2007 Sorry unable to back this up with out mentioning the name of the source, nothing out of the ordinary and believable Peter Toms has been out to the states to talk to Teachers (assume it was in the early stages) The Club will be in very deep do-do by Febuary if the deal fails. They have used (by agreement) Wilson, and another large local company? as the 'other interested' investers to gee up MM's offer He's obviously seen through this and called ther bluff with a lower offer Thats almost identical to what i heard.
renards Posted 4 January 2007 Posted 4 January 2007 Thats almost identical to what i heard. It was you who told me! Seriously, you worry about making yourself look a knob with posts .but it is from deep within the Tigers camp
Jon the Hat Posted 4 January 2007 Posted 4 January 2007 It was you who told me! Seriously, you worry about making yourself look a knob with posts .but it is from deep within the Tigers camp To be fair, Tigers probably quite like the idea of us lsing the stadium.. They could then buy it and allow us tenancy. Assuming we default if Milan doesn't buy.
Louise Posted 4 January 2007 Posted 4 January 2007 I've been tentatively supportive of the MM bit from when it was first rumoured, however as it looks to be completed I can't help feeling apprehensive. Obviously we don't know the actual details, and the rumours coming out are from those with their own agendas (that includes the local media) so can never be taken as completely true, but I do worry about the rumours that MM has made no guarantees about the future of the club. I can't say I'm too bothered about how much money the shareholders get back, or when they get it (I'd like them to get it back obviously as they did come in when it counted, but it doesn't bother me that much), so that part of the rumours doesn't concern me. But the lack of guarantees about the future of the club, the possibility that he won't even underwrite the loan on the stadium, that all of the money for transfers will be loans... it all worries me. I can't see why the board would even consider recommending such an offer to the shareholders, but with the majority of the fans and the media in MM's back pocket they might have felt like they had no choice. I'm not saying that I don't want MM in now, especially seeing as we don't really know the details, but that I hope that the shareholders are up to making this decision, and are strong enough to say 'no' if it is bad enough.
fosseman Posted 4 January 2007 Posted 4 January 2007 I know what you mean about feeling unsure of MM but I suspect there was no alternative. I think the club would have gone into administration at the end of the season anyway. There is just not the level of support from local businessmen to make or keep the club successful. Anyway, it won't be dull under MM.
BartonFox Posted 4 January 2007 Posted 4 January 2007 I've been tentatively supportive of the MM bit from when it was first rumoured, however as it looks to be completed I can't help feeling apprehensive. Obviously we don't know the actual details, and the rumours coming out are from those with their own agendas (that includes the local media) so can never be taken as completely true, but I do worry about the rumours that MM has made no guarantees about the future of the club. I can't say I'm too bothered about how much money the shareholders get back, or when they get it (I'd like them to get it back obviously as they did come in when it counted, but it doesn't bother me that much), so that part of the rumours doesn't concern me. But the lack of guarantees about the future of the club, the possibility that he won't even underwrite the loan on the stadium, that all of the money for transfers will be loans... it all worries me. I can't see why the board would even consider recommending such an offer to the shareholders, but with the majority of the fans and the media in MM's back pocket they might have felt like they had no choice. I'm not saying that I don't want MM in now, especially seeing as we don't really know the details, but that I hope that the shareholders are up to making this decision, and are strong enough to say 'no' if it is bad enough. Louise make no mistake if there is Milan Mandaric there is no Leicester City FC, despite what Ultra and Swedging are doing with their scaremongering the Club is f'ckd without him. There are no guarentee's from MM but I'd rather face that than this current shower of self serving disgraces. People also better start wrestling with their LCFC scruples because the grounshare with the Tigers is a very real possibility now. Despite all my previous rantings about that scheme, I'd much rather face it with MM in charge than Dim Tim and his puddings because it means MM releasing more money to the playing side of the team.
Surreal Madrid Posted 4 January 2007 Posted 4 January 2007 I've been tentatively supportive of the MM bit from when it was first rumoured, however as it looks to be completed I can't help feeling apprehensive. Obviously we don't know the actual details, and the rumours coming out are from those with their own agendas (that includes the local media) so can never be taken as completely true, but I do worry about the rumours that MM has made no guarantees about the future of the club. I can't say I'm too bothered about how much money the shareholders get back, or when they get it (I'd like them to get it back obviously as they did come in when it counted, but it doesn't bother me that much), so that part of the rumours doesn't concern me. But the lack of guarantees about the future of the club, the possibility that he won't even underwrite the loan on the stadium, that all of the money for transfers will be loans... it all worries me. I can't see why the board would even consider recommending such an offer to the shareholders, but with the majority of the fans and the media in MM's back pocket they might have felt like they had no choice. I'm not saying that I don't want MM in now, especially seeing as we don't really know the details, but that I hope that the shareholders are up to making this decision, and are strong enough to say 'no' if it is bad enough. They will have to be very strong bearing in mind the PR offensive MM has mounted. I was never pro MM, mainly because I didn't believe the figures that were being put about on his behalf. I hope I'm wrong, but it appears he is going to pick up the club for a song and hardly put any money in, just saddle us with more debt. Unless he gets us promoted next season I can see us being in admin again, but with much higher debts than we had last time round, and therefore much more difficult to get creditors to agree to administration rather than liquidation. With Johnson resigning, who seems an admirable fellow ( season ticket holder in East Stand, did loads of unpaid work to get us out of admin., partner in one of the biggest law firms in the world ) the remaining board members would seem about to recommend the offer to the shareholders. It will be difficult for them to go against the remaining members of the board. BTW, a previous poster has queried why Johnson didn't say no at the EGM - it was an indicative bid then, and the terms would appear to be totally different now - it is the lack of guarantees that scares the sh*t out of me - if it all goes belly up, MM still has his fortune intact and the club has mega debt. Not happy.
Geo V Posted 4 January 2007 Posted 4 January 2007 I wouldnt be so aprehensive Louise as at least he is a football man as well as a businessman and if he manages to take us up and to be in a similar position to Pompey in 5 years time before selling to another rich sod, I`d take it all day!! We should be secure that its his money he is putting in and if he gets it wrong, he LOSES cash so he will be doing all he can to succeed as his backside is on the line. Also lets not forget he is a richer bloke since leaving pompey and he doesnt have the worry of a stadium like he did at the Bell ringers!!!! Back MM when he gets in because without him we are going nowhere fast.
Surreal Madrid Posted 4 January 2007 Posted 4 January 2007 Louise make no mistake if there is Milan Mandaric there is no Leicester City FC, despite what Ultra and Swedging are doing with their scaremongering the Club is f'ckd without him. There are no guarentee's from MM but I'd rather face that than this current shower of self serving disgraces. People also better start wrestling with their LCFC scruples because the grounshare with the Tigers is a very real possibility now. Despite all my previous rantings about that scheme, I'd much rather face it with MM in charge than Dim Tim and his puddings because it means MM releasing more money to the playing side of the team. By all accounts not HIS money 'tho.
Surreal Madrid Posted 4 January 2007 Posted 4 January 2007 I wouldnt be so aprehensive Louise as at least he is a football man as well as a businessman and if he manages to take us up and to be in a similar position to Pompey in 5 years time before selling to another rich sod, I`d take it all day!! We should be secure that its his money he is putting in and if he gets it wrong, he LOSES cash so he will be doing all he can to succeed as his backside is on the line. Also lets not forget he is a richer bloke since leaving pompey and he doesnt have the worry of a stadium like he did at the Bell ringers!!!! Back MM when he gets in because without him we are going nowhere fast. It appears he is not putting much of his much vaunted fortune in, financing expenditure with debt.
Mort Posted 4 January 2007 Posted 4 January 2007 Back MM when he gets in because without him we are going nowhere fast. Yes we are! Damn it! ...we're hurtling toward Relgation and Administration at breakneck speed without MM (or at least some investment and leadership)
Phlashman Posted 4 January 2007 Posted 4 January 2007 Jeez, some people have some very strong opinions without knowing many facts. Here is some real life 100% true facts: Milan is a businessman. Milan wants to make money by investing in Leicester. To make money he'll have to make Leicester a Premiership team. and yes. It really is that simple.
BartonFox Posted 4 January 2007 Posted 4 January 2007 By all accounts not HIS money 'tho. It will be to begin with with a little added intrest on. I know I would.
Surreal Madrid Posted 4 January 2007 Posted 4 January 2007 Jeez, some people have some very strong opinions without knowing many facts. Here is some real life 100% true facts: Milan is a businessman. Milan wants to make money by investing in Leicester. To make money he'll have to make Leicester a Premiership team. and yes. It really is that simple. Is it that simple to make Leicester a premiership team? Don't think so.
Geo V Posted 4 January 2007 Posted 4 January 2007 I understand the business sentiment but the fact is no businessman wants to be known as a failure and he has other options iof he wishes, just ask all the beggars who have emailed him to ask for investment! We need to stop the apathy and really rally and welcome the bugger to the extent that he falls in love with the club and people so much that he dips his hand in his pocket at all costs!!! Maybe a welcoming local hooker might help. I`ll start the fund with a £5 contribution
breadandcheese Posted 4 January 2007 Posted 4 January 2007 We need to stop the apathy and really rally and welcome the bugger to the extent that he falls in love with the club and people so much that he dips his hand in his pocket at all costs!!! Maybe a welcoming local hooker might help. I`ll start the fund with a £5 contribution Ha ha, He'll love that. Give him the clap as a welcome present.
Geo V Posted 4 January 2007 Posted 4 January 2007 Ha ha, He'll love that. Give him the clap as a welcome present. A round of applause would suffice
Daggers Posted 4 January 2007 Posted 4 January 2007 There's a chunk of difference between the transfer of title and the completion of the terms a contract to those of you still barking up the "but he has not sold Pompey" tree...something you really ought to know if you are half as clever as you would like people to believe.
renards Posted 4 January 2007 Posted 4 January 2007 I understand the business sentiment but the fact is no businessman wants to be known as a failure and he has other options iof he wishes, just ask all the beggars who have emailed him to ask for investment! We need to stop the apathy and really rally and welcome the bugger to the extent that he falls in love with the club and people so much that he dips his hand in his pocket at all costs!!! Maybe a welcoming local hooker might help. I`ll start the fund with a £5 contribution Another Tigers link?
Surreal Madrid Posted 4 January 2007 Posted 4 January 2007 There's a chunk of difference between the transfer of title and the completion of the terms a contract to those of you still barking up the "but he has not sold Pompey" tree...something you really ought to know if you are half as clever as you would like people to believe. But if he still owns a material interest in the shares of Portsmouth ( say the £8 million that is still reputed to be unpaid ) even if it's via an offshore trust, he could fall foul of the dual ownership rules if he is the ultimate beneficiary of that trust. That is the gist of the rumours that are floating about ( and I do acknowledge they are only rumours, just like almost everything else to do with this saga ).
Swedging Posted 4 January 2007 Posted 4 January 2007 There's a chunk of difference between the transfer of title and the completion of the terms a contract to those of you still barking up the "but he has not sold Pompey" tree...something you really ought to know if you are half as clever as you would like people to believe. I'm not sure what you're getting at. It doesn't look like title has been transferred yet - although you'd need to go down to Portsmouth and demand to see the shareholders register for the holding company to be sure of this. Certainly it hadn't been 2 months after MM had said that he had sold the second half of the company. The lack of any change in directors may be an indication of how things stand now...
Chrysalis Posted 4 January 2007 Posted 4 January 2007 They will have to be very strong bearing in mind the PR offensive MM has mounted. I was never pro MM, mainly because I didn't believe the figures that were being put about on his behalf. I hope I'm wrong, but it appears he is going to pick up the club for a song and hardly put any money in, just saddle us with more debt. Unless he gets us promoted next season I can see us being in admin again, but with much higher debts than we had last time round, and therefore much more difficult to get creditors to agree to administration rather than liquidation. With Johnson resigning, who seems an admirable fellow ( season ticket holder in East Stand, did loads of unpaid work to get us out of admin., partner in one of the biggest law firms in the world ) the remaining board members would seem about to recommend the offer to the shareholders. It will be difficult for them to go against the remaining members of the board. BTW, a previous poster has queried why Johnson didn't say no at the EGM - it was an indicative bid then, and the terms would appear to be totally different now - it is the lack of guarantees that scares the sh*t out of me - if it all goes belly up, MM still has his fortune intact and the club has mega debt. Not happy. MM been a football man and having more of a football track record then the current lot is the better of 2 evils, out of courisity where do you see us in a years time if the takeover doesnt happen? do you think we are in financial trouble?
Recommended Posts
Archived
This topic is now archived and is closed to further replies.