Asian Consortium To Buy Out City

[Jon the Hat]

Just been on EMT about the investors at last nights game saying they had laptops with them that dont give us a lot of info a bit pointless realy

It means either they are serious business types, OR they are addicted to some stupid Facebook games and cannot bear to be away from their netbooks.

[Callabinho]

It might just be my Computer but the Merc site hasn't been updated? maybe their waiting...

[surrifox]

Under the terms of the original takeover MM was required to pay an additional amount for the shares acquired in the event the club got back into the premiership. I would be surprised if there was not also a term that requires him to rebate back to the original shareholders at least part of the proceeds of any share sale which relinquishes control of the club. This might be why he is so keen in getting in partners to invest in the club but not dispose of a majority holding.

If you were a financier how useless a business proposition is the acquisition of a minority stake in a football club in exchange for providing finance- what could possibly go wrong there?

[Vlad The Impaler]

It might just be my Computer but the Merc site hasn't been updated? maybe their waiting...

Looks that way

[Liamlcfc1]

http://www.telegraph.co.uk/sport/football/teams/leicester-city/7940631/Leicester-to-announce-takeover-details.html

Leicester City are preparing to announce a takeover of the club this afternoon, expected to be by a consortium of Asian businessmen led by Thai businessman Vichai Raksriaksom, the owner of the duty-free shopping business King Power Group. Five Asian companies are understood to have held talks with the current chairman of the East Midlands club, Milan Mandaric, about buying a majority stake.

Mandaric - who according to reports will remain as chairman despite the takeover - has returned from overseas to make the announcement this afternoon at 3pm. It is thought that the club is being valued at £39 million, while the new ownership would be expected to take on the £26 million worth of debt the club is currently saddled with.

Although some reports have suggested the consortium would only take on 49 per cent, with a view to taking control of the rest at a later date, it is understood that they will assume a majority stake immediately.

Last week, Mandaric said of the takeover: “There’s a lot of details and lots of conditional things to put together. We hope to announce something by the end of next week.”

King Power owns 76 outlets at domestic terminals and has a duty-free monopoly at Bangkok’s Suvarnabhumi international airport, one of Asia’s largest.

Leicester said they would make “excellent partners to take the club forward”. The last Thai venture into English football ended in acrimony when former Prime Minister Thaksin Shinawatra, ousted in a 2006 coup and still living in exile, bought Manchester City and sold the club a year later.

[davieG]

Under the terms of the original takeover MM was required to pay an additional amount for the shares acquired in the event the club got back into the premiership. I would be surprised if there was not also a term that requires him to rebate back to the original shareholders at least part of the proceeds of any share sale which relinquishes control of the club. This might be why he is so keen in getting in partners to invest in the club but not dispose of a majority holding.

If you were a financier how useless a business proposition is the acquisition of a minority stake in a football club in exchange for providing finance- what could possibly go wrong there?

That was only if we got promoted within 3 years that clause is now redundant so I doubt the original shareholders would be any pert of any agreement.

[FrankieADZ]

there's something on the takeover...well there's something bout it on EMT at 13:30