davieG Posted 7 August 2010 Posted 7 August 2010 From the Merc Five Asian businesses are behind a consortium bidding to buy Leicester City, it has emerged. Thailand's King Power Group and four other major companies are in advanced takeover talks with owner Milan Mandaric. An announcement is expected next week. Mandaric confirmed retail giant King Power was one of those in the group, as revealed in the Leicester Mercury yesterday. He has now said four other Asian businesses were part of the consortium. He would not name them. A takeover of the club could provide the cash to support City's push into the Premier League. "We are talking to a group of five different businesses," said Mandaric. "There's King Power and there's others who are from other parts of Asia, but not Thailand. "I hope these people are going to join one partnership group. There's lots of details and lots of conditional things to put together. We hope to announce something by the end of next week." Mandaric, the club chairman, would not comment on reports the deal being negotiated would value the club at £39 million. However, he did suggest the takeover would involve taking on the £26 million debt and the stadium. Some reports suggest the consortium would initially buy 49 per cent of City, with a view to buying the rest at a later date. But the Mercury understands the potential investors are talking about buying a majority stake. It is understood Serbian-American millionaire Mandaric would stay as chairman under the deal. King Power, which specialises in duty free shopping, was yesterday unveiled as the club's new shirt sponsor. The company is owned by Vichai Raksriaksorn, who has an estimated wealth of £113 million. Mandaric said the multi-million pound three-year sponsorship deal would still go ahead even if the takeover deal did not happen. "It just shows that these people want to invest in the club," he said. "If things don't happen with any type of takeover they will still be our shirt sponsors." Speaking about the shirt sponsorship, Raksriaksorn said: "We see this three-year deal as strategic and vital for our powerful global brand. "Our interest in football is well established as sponsor to the Thai national football league and this sponsorship ofLeicester City illustrates our ambitions and those of the club. "This is an exciting and dynamic opportunity for us and I hope a relationship which can deliver much more for all sides, including the fans."
Narborough_fox Posted 7 August 2010 Posted 7 August 2010 Does anyone know where in Asia the other four groups are from or who they are?
Callabinho Posted 7 August 2010 Posted 7 August 2010 I hope they reach a deal soon! So the consortium is made up of several business men? I gather all of the individual businesses men are involved in the takeover hence the consortium? Maybe Petronas is one of them? I’ve heard the name crop up a few times!
STUHILL Posted 7 August 2010 Posted 7 August 2010 5 companies involved!! That is good news in terms of funding. I hope people read this and STOP going on about the KING power guy only having 118million etc etc. We always knew is was a CONSORTIUM!! I can see these companies wanting to spread their name over the English Football scene, and so that gives me hope they will have real ambition for getting us to the Premiership asap!! Good if MM stays on as Chairman for a while too!! Although think he just wants the glory of saying he took us to the Prem and then will sign off, can't blame him really.
dave_the_fox Posted 7 August 2010 Posted 7 August 2010 The monies sounds good, but we can look at Liverpool to see partnerships go pear shaped!
MPH Posted 7 August 2010 Posted 7 August 2010 5 companies involved!! That is good news in terms of funding. I hope people read this and STOP going on about the KING power guy only having 118million etc etc. We always knew is was a CONSORTIUM!! I can see these companies wanting to spread their name over the English Football scene, and so that gives me hope they will have real ambition for getting us to the Premiership asap!! Good if MM stays on as Chairman for a while too!! Although think he just wants the glory of saying he took us to the Prem and then will sign off, can't blame him really. If he sells 100% of a championship club, he gets less money. If he sells 49% now and then 51% when we are in the prem, he gets much more
Smudge Posted 7 August 2010 Posted 7 August 2010 Sounds like a train wreck waiting to happen, my experience of business partnerships is that they always become acrimonious; even personal ones aren't easy.
Finnegan Posted 7 August 2010 Posted 7 August 2010 Sounds like a train wreck waiting to happen, my experience of business partnerships is that they always become acrimonious; even personal ones aren't easy. Aye I don't mean to be overly cynical but it is nervy.
Webbo Posted 7 August 2010 Posted 7 August 2010 "There's King Power and there's others who are from other parts of Asia, but not Thailand. This ties in with reports of the backers coming from Malaysia.
Flynny Posted 7 August 2010 Posted 7 August 2010 Sounds like a train wreck waiting to happen, my experience of business partnerships is that they always become acrimonious; even personal ones aren't easy. My thoughts exactly. We could either push on or become a basket-case.
Narborough_fox Posted 7 August 2010 Posted 7 August 2010 This ties Thais in with reports of the backers coming from Malaysia.
Finnegan Posted 7 August 2010 Posted 7 August 2010 1. King Power 2. Petronas? 3. 4. 5. Er, the same Petronas that's one of the largest companies in the world? Based on what, the fact someone's heard of them? Behave. It'll be more like Wong Fong Hong's Dried Seafood Merchants of Hong Kong.
Babylon Posted 7 August 2010 Posted 7 August 2010 It'll be more like Wong Fong Hong's Dried Seafood Merchants of Hong Kong. Bert told me not to tell anyone, you big mouth!!!
ACF Posted 7 August 2010 Posted 7 August 2010 Er, the same Petronas that's one of the largest companies in the world? Based on what, the fact someone's heard of them? Behave. It'll be more like Wong Fong Hong's Dried Seafood Merchants of Hong Kong. That's all I'm basing that on mate. Look, it's the only other company been mentioned, what's the harm of putting it as that. I don't believe that they'll be here, but fook it.
Finnegan Posted 7 August 2010 Posted 7 August 2010 That's all I'm basing that on mate. Look, it's the only other company been mentioned, what's the harm of putting it as that. I don't believe that they'll be here, but fook it. Well Wong Hong Fong's Dried Seafood Merchants have also been named it doesn't mean you're going to put them on the list, does it They're probably more likely n'all, despite the obvious drawback of having just been made up by me.
ACF Posted 7 August 2010 Posted 7 August 2010 Well Wong Hong Fong's Dried Seafood Merchants have also been named it doesn't mean you're going to put them on the list, does it They're probably more likely n'all, despite the obvious drawback of having just been made up by me. All I did was put a company, who rightly or wrongly, has been mentioned, on a list. Don't shoot me down for that. Anyways, Wong Hong Fong's Dried Seafood Merchants would be an epic sponsor.
DANGEROUS TIGER Posted 7 August 2010 Posted 7 August 2010 A number of miserable Jonas here. They complain when nothing happens, and still complain when something positive looks probable.
THEBIGJOHNSTEADER; Posted 7 August 2010 Posted 7 August 2010 Just spoke to my contact. The takeover will be 49% Thai and 49% Indonesian. Says we've just signed a Dutch player. He says if we get off to a bad start we can expect lots of new blood coming in
Narborough_fox Posted 7 August 2010 Posted 7 August 2010 Just spoke to my contact. The takeover will be 49% Thai and 49% Indonesian. Says we've just signed a Dutch player. He says if we get off to a bad start we can expect lots of new blood coming in Sneijder.
THEBIGJOHNSTEADER; Posted 7 August 2010 Posted 7 August 2010 He said he's a 5 million euro player but there is no fee
The Doctor Posted 7 August 2010 Posted 7 August 2010 Just spoke to my contact. The takeover will be 49% Thai and 49% Indonesian. Says we've just signed a Dutch player. He says if we get off to a bad start we can expect lots of new blood coming in and the other 2%?
THEBIGJOHNSTEADER; Posted 7 August 2010 Posted 7 August 2010 I thought that, not sure who takes it. Definately said 49 Thai maybe the Indonesians are taking 51. I'll call him later and confirm
Babylon Posted 7 August 2010 Posted 7 August 2010 He said he's a 5 million euro player but there is no fee What did we do find him down the back of the sofa?
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