ian_marshall Posted 5 August 2010 Posted 5 August 2010 I don't like the sound of all this. Sounds to me like another Man Utd / Glazer situation all over again. He'll no doubt invest in new players immediately to get us back into the premier league (At which point he'll have won many of the fans over), and then as soon as the revenue streams have been secured start borrowing against our assets to support his business in Thailand, putting our club further into debt. The fact that the parachute payments have increased and now span a longer period of time makes this even more likely as it provides security to any potential lender. Just converted their turnover using xe.com and it seems that as a business King Power's annual turnover accordIng to the figures mentioned in the article are just shy of £31.5m. Bear in mind that this is turnover not profit and things suddenly don't look so great.
Jordan Posted 5 August 2010 Posted 5 August 2010 Just converted their turnover using xe.com and it seems that as a business King Power's annual turnover accordIng to the figures mentioned in the article are just shy of £31.5m. Bear in mind that this is turnover not profit and things suddenly don't look so great. Probably sounds better than Milan Mandaric...
STUHILL Posted 5 August 2010 Posted 5 August 2010 I don't like the sound of all this. Sounds to me like another Man Utd / Glazer situation all over again. He'll no doubt invest in new players immediately to get us back into the premier league (At which point he'll have won many of the fans over), and then as soon as the revenue streams have been secured start borrowing against our assets to support his business in Thailand, putting our club further into debt. The fact that the parachute payments have increased and now span a longer period of time makes this even more likely as it provides security to any potential lender. Just converted their turnover using xe.com and it seems that as a business King Power's annual turnover accordIng to the figures mentioned in the article are just shy of £31.5m. Bear in mind that this is turnover not profit and things suddenly don't look so great. I'm pretty sure it's a Consortium, so I can see a few other similar businesses involved. Also, I think people are forgetting that Milan Manderic isn't really an option for us any more. He had a 3 year plan and he fell short. I really think he has given all he can and other investment is the only way for us to stay stable and perhaps move forward. Obviously, there is a risk involved, but I'm hoping MM has learnt his lesson from Pompey and won't send us down the same slippery slope with this sale. Fingers crossed for a few other rich figures from the consortium to be announced soon!
ian_marshall Posted 5 August 2010 Posted 5 August 2010 Probably sounds better than Milan Mandaric... I have no idea how much profit Milan's businesses generate, but remember that the majority of the profits generated by King Power will be retained within the business distributed amongst stakeholders, so I wouldn't get your hopes up that we're going to be awash with loads of money to spend on new players. This would probably explain why Paulo Sousa is looking toward the free agent market for new additions, a point strongly emphasised in most of Milan's recent interviews relating to the quality available within this pool of players.
STUHILL Posted 5 August 2010 Posted 5 August 2010 THAT IS JUST ONE PERSON IN A LARGER CONSORTIUM haha It didn't work! BIGGER FONT required
Jackirius Posted 5 August 2010 Posted 5 August 2010 THAT IS JUST ONE PERSON IN A LARGER CONSORTIUM Just to emphasise on that ^^ Still more investors to be revealed... All the interviews with milan and other various sources have said consortium i doubt they would all be wrong up to this one point and it is only being bought by one man. He is only worth 110 mil and has spent 40-50 million on a club with more investment needed thats about 40 pecent of his kids inheritance i doubt he would be splashing this amount of money on his own... More people to come...
Len Finsbury Posted 5 August 2010 Posted 5 August 2010 Looks like some people are going to be disappointed unless someone comes in with billions of pounds to throw about like Chelsea and Man City. Surely the majority of us are happy that there might be even a little investment in the playing squad - it's been a while since we've really competed in the transfer market compared to other championship clubs. I think the hype that's been built up about this proposed investment have allowed people to get a bit carried away.
Jackirius Posted 5 August 2010 Posted 5 August 2010 Looks like some people are going to be disappointed unless someone comes in with billions of pounds to throw about like Chelsea and Man City. Surely the majority of us are happy that there might be even a little investment in the playing squad - it's been a while since we've really competed in the transfer market compared to other championship clubs. I think the hype that's been built up about this proposed investment have allowed people to get a bit carried away. I thought the deals for Messi and Ronaldo were already in the works Wait to ruin a guys day...
The Padster Posted 5 August 2010 Posted 5 August 2010 Looks like some people are going to be disappointed unless someone comes in with billions of pounds to throw about like Chelsea and Man City. Surely the majority of us are happy that there might be even a little investment in the playing squad - it's been a while since we've really competed in the transfer market compared to other championship clubs. I think the hype that's been built up about this proposed investment have allowed people to get a bit carried away. Just a little extra cash to make us more competative is all I ask
gh09lcfc Posted 5 August 2010 Posted 5 August 2010 Says on wiki that one of our affilated clubs is called Buriram PEA F.C. of Thailand. Could this mean something with the takeover?
Ross 'LCFC' Turner Posted 5 August 2010 Posted 5 August 2010 Stringer's just confirmed it. confirmed whatt ?
Unabomber Posted 5 August 2010 Posted 5 August 2010 confirmed whatt ? The King Power sponsor and Thai investors. There is also a picture of the shirt with the new sponsor. Here
Jackirius Posted 5 August 2010 Posted 5 August 2010 Says on wiki that one of our affilated clubs is called Buriram PEA F.C. of Thailand. Could this mean something with the takeover? Go back a few pages...
Unabomber Posted 5 August 2010 Posted 5 August 2010 I'm glad that it looks decent, will stop a lot of people having a period about it. It will also make Andy King look like some sort of vain superhero.
The Padster Posted 5 August 2010 Posted 5 August 2010 Looks alright! Although I do wish we'd of put the badge and kit maker at the same level on the chest as oppose to in a vertical fashion, would've looked better with that.
Jackirius Posted 5 August 2010 Posted 5 August 2010 http://tweetphoto.com/37036879 LCFC kit. King Power sponsor, Thai duty free co+investors headed by Vichai Raksriaksor ... http://tmi.me/oFrH InvestorSSSSS only headed by him.
The Padster Posted 5 August 2010 Posted 5 August 2010 Fox looks a bit odd. Oh yeah! I did not notice that first time round, anyone with the new shirt care to clarify?
Maybes Posted 5 August 2010 Posted 5 August 2010 He has just spent 40 million pounds on a football club which is about a quarter of his fortune so he must be serious. The return on football clubs these days isnt massive so i think he must have finance stored somewhere else because if not its a bit of a random buy and he's got himself into his position so must have some common sense and a plan for us. And that is IF it is just him, i still believe their are more in this deal. Not from what I've read. He will take a 49% stake in a deal which values the club at £39m. Therefore he will only be paying £19.11m
Edmund Posted 5 August 2010 Posted 5 August 2010 http://news.bbc.co.uk/sport1/hi/football/teams/l/leicester_city/8890815.stm Thai consortium eyes deal to buy Leicester for £39m.A consortium headed by Thai business tycoon Vichai Raksriaksorn is in talks to buy Leicester City. BBC Radio Leicester understands that the group is planning to take an initial 49% stake in the club. That would leave current owner Milan Mandaric in overall control of the Championship club for the time being. Raksriaksorn's King Power duty free company are to become the Foxes' new shirt sponsor as part of the deal which values the club at £39m. His daughter Voramas Raksriaksorn, King Power's creative and communications director, told the Bangkok Post that negotations are ongoing. She said: "All the rumours about the Leicester City Football Club will be cleared up very soon."
gazzer Posted 5 August 2010 Posted 5 August 2010 Not from what I've read. He will take a 49% stake in a deal which values the club at £39m. Therefore he will only be paying £19.11m bloody accountants
HankMarvin Posted 5 August 2010 Author Posted 5 August 2010 THAI multi-millionaire Wichai Raksriaksorn is the man masterminding a £50million buy-out of Leicester City. The head of King Power Group, who made his fortune from duty free sales, will buy an initial 50 per cent stake in the club. But he plans to take full control from Milan Mandaric within the next 12 months. Owner Mandaric is set to stay on until Raksriaksorn completes the deal. A Foxes insider said: "The deal is agreed and is set to be announced at the home game against Middlesbrough on August 14." http://www.thesun.co.uk/sol/homepage/sport/football/3083883/Leicester-City-deal-is-all-Thai-d-up.html wonder how all the people who slagged off the initial story now feel
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