Milan Mandaric has targeted leicester!

[lcfc_jme]

Indeed, Louise's article does state 50m.

When he sold his first chunk in Pompey, it was for about 20m quid (articles at the time stated).

He sold the remaining stake for around 32m (articles stated at the time).

So about 50m quid total. Of course, some of it would have been lost by some kind of capital gains tax (I'm assuming we have one!)

Where's the 20m 'profit' come from, Foxes_Trust?

Good to see that I'm not imagining things then!! Was getting worried that I was hallucinating :pinch:

Cheers for the defense there looky

[Swedging]

Indeed, Louise's article does state 50m.

When he sold his first chunk in Pompey, it was for about 20m quid (articles at the time stated).

He sold the remaining stake for around 32m (articles stated at the time).

So about 50m quid total. Of course, some of it would have been lost by some kind of capital gains tax (I'm assuming we have one!)

Where's the 20m 'profit' come from, Foxes_Trust?

The 32m seems to stem from a single BBC news article - which apparently contradicts the rest of the contemporary reports. Since it's a private limited company - there's no way of verifying the price. Especially since the shares are probably held by an offshore financing vehicle and there has to be a fair chance that the ownership in that is what has changed.

The CG is difficult. If MM was UK resident - it'd be 10 per cent. I would reckon that the ownership was held abroad anyway, MM was non-resident, and thus no UK capital gains. As a US citizen, he perhaps could be liable to the US CG, though. But his use of tax avoidance schemes in the past suggests that he'll have found some way of burying it.

[Daggers]

But his use of tax avoidance schemes in the past suggests that he'll have found some way of burying it.

One imagines that he would make deft use of his Serbian status when it comes to taxing problems...

[Tubes]

ok im really confused now what is actually happening with all this?

[davieG]

ok im really confused now what is actually happening with all this?

That's like saying your confused that 0 = 0 ( some bright spark will now tell me it doesn't cue DB )

Nothing to be confused about as nothing is happening.

[Foxes_Trust]

foxes trust where is your source of info stating he only has 20 mill? 20 mill profit 30 mill spent would still mean he has 50 mill cash.

2 independent sources within the Trust movement, can't expand more than that as we hope for further information via them. £20m = potential available funds to invest

Must remember that a fair proportion of MM's investment in Pompey was funded by loans.

[Chrysalis]

fair enough, I am not disputing what you saying so lets assume now that his initial investment into pompy was mainly funded by loans and it was paid back following pompys success and his initial sale of bonds to the new owner and then he made a 20mill profit after he left.

This is good and bad.

good points, shows he can get investment without much cash capital and if he took the loans in his own name he is taking the risk rather then the club.

20 mill cash is more then he had for pompy and he has got them in a good position now.

bad points.

some of this 20 mill would be lost in gaining control of the club around 7 million?

if he uses loans to fund investment even if in his own name he may have a get out plan which involves the club paying for a failure.

he may not be willing to invest the full 20 mill.

I still think he is a better option then the current board considering he has 20mill and they have nothing, he would also be a unpaid chairman, his payment been his profit when he leaves. He also has a very good track record and experience with only one club left in a bad state out of dozens.

[Swedging]

good points, shows he can get investment without much cash capital and if he took the loans in his own name he is taking the risk rather then the club.

20 mill cash is more then he had for pompy and he has got them in a good position now.

Depends how loans are secured. Against the assets of the club means the club is taking the risk.

And I think a more careful reading of dates would show Gaydamak got them in the position they are. When Mandaric first sold, they looked doomed.

he may not be willing to invest the full 20 mill.

Really? I suspect an arrangement like Bates at dirty Leeds is probably more on the cards.

I still think he is a better option then the current board considering he has 20mill and they have nothing, he would also be a unpaid chairman, his payment been his profit when he leaves. He also has a very good track record and experience with only one club left in a bad state out of dozens.

Er, he was always taking money out of Portsmouth, don't forget. And where are these dozens of clubs?

[Jon the Hat]

fair enough, I am not disputing what you saying so lets assume now that his initial investment into pompy was mainly funded by loans and it was paid back following pompys success and his initial sale of bonds to the new owner and then he made a 20mill profit after he left.

What the Trust said is £20M available to invest. Not necesssarily in cash. That could be made up of £15M of loan facility and £5M of cash, which doesn't sound quite as good does it?

[Ric Flair]

Whether Mandaric has £20 million to invest or £2 million ton invest, it's a damn sight more money than the current board will be putting in over the next year or so. Mandaric has a few quid and has the bollocks to take a few risks. I'm not expecting us to become a mini Chelsea and throw money around but even if we can just get enough money to give us a chance to compete at a higher level is good news to me.

[dynamite foxes]

2 independent sources within the Trust movement, can't expand more than that as we hope for further information via them. £20m = potential available funds to invest

Must remember that a fair proportion of MM's investment in Pompey was funded by loans.

why are you forever against it. Face it, you are never gonna be able to buy the club and if Mandaric decides to ignore you , it would be a better thing for this football club. Oh, and TD won't be there to brown nose.

[Daggers]

THE THREAD THAT WOULD NOT DIE!

One day, I'm going to write a screen play about this thread and get it made into a blockbusting film staring Jack Nicholson, Tom Cruise, Angelina Jolie and Mr. Bean. It's going to be great. Oh yes.

[Jon the Hat]

THE THREAD THAT WOULD NOT DIE!

One day, I'm going to write a screen play about this thread and get it made into a blockbusting film staring Jack Nicholson, Tom Cruise, Angelina Jolie and Mr. Bean. It's going to be great. Oh yes.

Is Mr Bean going to play you or Ultra

[Fox in a Box]

THE THREAD THAT WOULD NOT DIE!

One day, I'm going to write a screen play about this thread and get it made into a blockbusting film staring Jack Nicholson, Tom Cruise, Angelina Jolie and Mr. Bean. It's going to be great. Oh yes.

Disco Bob, I'll be Mr Bean!

**TOPS MARKS for your Primal scream avatar!

[Thracian]

why are you forever against it. Face it, you are never gonna be able to buy the club and if Mandaric decides to ignore you , it would be a better thing for this football club. Oh, and TD won't be there to brown nose.

And why are you so blatantly and unreservedly in favour? There is no such thing as something for nothing in matters of this nature. Mandaric - if he ever even arrives - may be good for the club but, equally he may be a disaster. At this point I don't know which.

Despite all the criticism, this club appears to be going the right way and, while cash flow might not always be as we'd want it, we seem asset-rich to me and perfectly well able to evolve without selling our soul to some foreign mercenary with no spiritual connection to the club if we choose not to.

Why any chairman should wish to ignore a fans representative body I don't know - any more than I know why you'd think it better that he did.

I've had my criticisms of the FT and have given reasons for them so they can respond if they see fit. But they are the supporters body we have. They have the clubs interests at heart, by definition, and to me it is far better they exist than not.

And, frankly, so far, I'd rather trust their collective viewpoint than yours unless of course, you wish to explain your views in greater detail so they can be chewed over rationally.

Cos I'm damned if I fancy playing pass-the-parcel with our football club without good reason and without "due diligence" as the phrase goes. Especially as we seem to be doing fine as it is.

[Ric Flair]

And why are you so blatantly and unreservedly in favour? There is no such thing as something for nothing in matters of this nature. Mandaric - if he ever even arrives - may be good for the club but, equally he may be a disaster. At this point I don't know which.

Despite all the criticism, this club appears to be going the right way and, while cash flow might not always be as we'd want it, we seem asset-rich to me and perfectly well able to evolve without selling our soul to some foreign mercenary with no spiritual connection to the club if we choose not to.

Why any chairman should wish to ignore a fans representative body I don't know - any more than I know why you'd think it better that he did.

I've had my criticisms of the FT and have given reasons for them so they can respond if they see fit. But they are the supporters body we have. They have the clubs interests at heart, by definition, and to me it is far better they exist than not.

And, frankly, so far, I'd rather trust their collective viewpoint than yours unless of course, you wish to explain your views in greater detail so they can be chewed over rationally.

Cos I'm damned if I fancy playing pass-the-parcel with our football club without good reason and without "due diligence" as the phrase goes. Especially as we seem to be doing fine as it is.

Mandaric is no foreign mercenary though. I could understand your doubts you have if this was some unknown foreigner, with questionable motives. But Milan is an astute businessman who has a good track record in running a football club. He may have made mistakes in the past, but he didn't look to make a quick buck with Portsmouth but he knew when to move over and let someone else take the reigns. He owned them for 8 years or something like that and didn't really want to leave them, but understood the opportunity that both he and the club would get from selling.

[Jon the Hat]

Mandaric is no foreign mercenary though. I could understand your doubts you have if this was some unknown foreigner, with questionable motives. But Milan is an astute businessman who has a good track record in running a football club. He may have made mistakes in the past, but he didn't look to make a quick buck with Portsmouth but he knew when to move over and let someone else take the reigns. He owned them for 8 years or something like that and didn't really want to leave them, but understood the opportunity that both he and the club would get from selling.

He sold becuase he was in the shit, had mismanaged Redknapp until he was so pissed off he left, appointed a couple of useless replacements, then brought him back again, spending cash he didn't have in the process.

Where would Portsmouth be right now if there hadn't been a Gaydamak in the wings? Bankrupt perhaps?

[Ric Flair]

He sold becuase he was in the shit, had mismanaged Redknapp until he was so pissed off he left, appointed a couple of useless replacements, then brought him back again, spending cash he didn't have in the process.

Where would Portsmouth be right now if there hadn't been a Gaydamak in the wings? Bankrupt perhaps?

It's hard to say. I mean, considering Mandaric sold Portsmouth at a time when they were almost dead certs to go down he still managed to sell the club for quite a decent price, which makes you wonder how healthy the bank balance was at Portsmouth. Mandaric never really allowed his managers to throw silly money at players, but they did buy some dross having said that. So perhaps he always made sure the club didn't spen deyond their means?. But he saw an opportunity to get out and give Portsmouth a chance to take it to the next level and fair do's to him. He did make some mistakes along the way, but still did a good job in my opinion.

[gatesheadfox]

where would portsmouth have been without Milan? we need mystic meg to answer all queries as they are all "if my auntie had a cock she'd be my uncle" theories. without Milan there probably wouldn't have been a gaydamak, or in time a club who could survive.

[Daggers]

Despite all the criticism, this club appears to be going the right way and, while cash flow might not always be as we'd want it, we seem asset-rich to me and perfectly well able to evolve without selling our soul to some foreign mercenary with no spiritual connection to the club if we choose not to.

...I've had my criticisms of the FT and have given reasons for them so they can respond if they see fit. But they are the supporters body we have. They have the clubs interests at heart, by definition, and to me it is far better they exist than not...

I agree. I'd rather the club be treading water and balancing the books than spending beyond its means and leading us into future catastrophe.

The Foxes Trust exist to represent the fans voice, if anyone does not believe their voice is being represented...pay your money like the rest of us and contribute from within to forge the Trust you want. Democratically.

Milan is an astute businessman who has a good track record in running a football club.

He sold becuase he was in the shit...

I'd rather we get bought ot by a local made-good philanthropist...but that ain't going to happen.

Second best is someone like Milan with demonstrated success, and he has that Mr.The Hat. He added value to the club and sold at profit...I'm happy for someone to add value to us.

That said, MILAN IS NOT GOING TO BUY LEICESTER!

[Fez of Mahrez]

MILAN IS NOT GOING TO BUY LEICESTER!

[Dr The Singh]

I agree. I'd rather the club be treading water and balancing the books than spending beyond its means and leading us into future catastrophe.

The Foxes Trust exist to represent the fans voice, if anyone does not believe their voice is being represented...pay your money like the rest of us and contribute from within to forge the Trust you want. Democratically.

I'd rather we get bought ot by a local made-good philanthropist...but that ain't going to happen.

Second best is someone like Milan with demonstrated success, and he has that Mr.The Hat. He added value to the club and sold at profit...I'm happy for someone to add value to us.

That said, MILAN IS NOT GOING TO BUY LEICESTER!

You know for certain DB!!!

[Daggers]

You know for certain DB!!!

I'd not be upset if he did but I will put money on it that he doesn't.

[Frenzied]

And why are you so blatantly and unreservedly in favour? There is no such thing as something for nothing in matters of this nature. Mandaric - if he ever even arrives - may be good for the club but, equally he may be a disaster. At this point I don't know which.

Despite all the criticism, this club appears to be going the right way and, while cash flow might not always be as we'd want it, we seem asset-rich to me and perfectly well able to evolve without selling our soul to some foreign mercenary with no spiritual connection to the club if we choose not to.

Why any chairman should wish to ignore a fans representative body I don't know - any more than I know why you'd think it better that he did.

I've had my criticisms of the FT and have given reasons for them so they can respond if they see fit. But they are the supporters body we have. They have the clubs interests at heart, by definition, and to me it is far better they exist than not.

And, frankly, so far, I'd rather trust their collective viewpoint than yours unless of course, you wish to explain your views in greater detail so they can be chewed over rationally.

Cos I'm damned if I fancy playing pass-the-parcel with our football club without good reason and without "due diligence" as the phrase goes. Especially as we seem to be doing fine as it is.

Agree totally - the FT is crucial in giving the fans a voice and ought to be supported.

[The People's Hero]

Those of you who keep harping on about Mandaric *almost* getting Pompey relegated from the premiership, should consider the following.

This club has managed to get relegated from the premiership a number of times... it also *almost* managed to get relegated from THIS shi tter of a division with the current board.

If he took us up and then we got relegated, fair enough. It's better than the sh it we've had the last few years.