Mandaric sold LCFC for reported £40 million

[Mack]

Just to chuck another spanner in, Mandaric sold Portsmouth to Sahsa Gaydamak, not those dodgy Asians who ran it into the ground.

And it was under Gaydamak they invested a lot until he got bored or skint and pulled the plug and sold to the first fella with a pulse and a bank balance.

Mandaric is the sort of bloke you want around your club because he makes things happen.

He is not the type to sit on his hands and let the club stagnate, and whatever the motives that can only be a good thing.

So he likes a little tickle here and there under the table allegedly, who cares!

[fleckneymike]

seems many here have short memories.

essentially he got the club for about 9 million as new shares were created and thats what he paid for them. in 2 sums of 4.5 million. The ex shareholders are obviously bitter and will just use the amount they got for thei shares as the sale figure but he paid more then that. As far as I know he has also loaned about another 15 million to the club which makes 24 million.

This all probably means the 40 million figure been waved about is also not that accurate and the real figure we probably wont find out.

If MM didnt buy the club we may have held of admin by sellng 6 million worth of players that year (annual losses with overdraft maxed), he sold 4.5 million right? so thats still 1.5 million less and it got reinvested.

In all honesty the league one relegation did us good as we were reborn. The shame of course tho in losing the record of never been out the top 2 divisions.

The 4.5m you quote relates to our relegation season, a season when Milan increased the debt by signing more players in one season than most teams manage in five!

We paid wages for these players who weren't even in the squad when Milan took over

N'Gotty (Milan admitted to bringing him in all on his own)

Clemence

DJ

Hayes

Kaebii

Casino Jimmy

Howard

Oakley

Bori

Lazcko

John

Hellings

Cort

Newton

Kishishev

Chambers

Fulop

Sappleton

Worley

Clarke

Etuhu

Bell

Alnwick

Hendrie

Clapham

Ferreira (he signed when we didn't even have a manager)

Adda Djeziri (so did he and neither played a game)

That's 26 players. That's why the debt crept up.

[fleckneymike]

Just to chuck another spanner in, Mandaric sold Portsmouth to Sahsa Gaydamak, not those dodgy Asians who ran it into the ground.

And it was under Gaydamak they invested a lot until he got bored or skint and pulled the plug and sold to the first fella with a pulse and a bank balance.

Mandaric is the sort of bloke you want around your club because he makes things happen.

He is not the type to sit on his hands and let the club stagnate, and whatever the motives that can only be a good thing.

So he likes a little tickle here and there under the table allegedly, who cares!

Mack, it was Gaydamak who ran Pompey into the ground he just happened to flog it on to some chumps who did the same.

I know it's only wikipedia but it says this about him

"Gaydamak has been alleged to have asset stripped Portsmouth F.C. prior to this sale and yet still retains a claim, said to be £32,000,000[7], against the club as a creditor despite the huge debts at the provincial club. Investigations into these allegations are ongoing. The current whereabouts of Gaydamak are unknown; several supporters' groups have called on Gaydamak to come forward and answer these allegations but no response has been received."

[sdb]

my take on MM at LCFC...

He's made some bad decisions, but which chairman hasn't (and there's a good deal worse out there)? It's easy with hindsight but none of his managerial appointments have been bad moves on the face of it. Things look to be on the up and i'm pretty sure MM has done as much good as bad here, and that's probably very harsh.

[fleckneymike]

my take on MM at LCFC...

He's made some bad decisions, but which chairman hasn't (and there's a good deal worse out there)? It's easy with hindsight but none of his managerial appointments have been bad moves on the face of it. Things look to be on the up and i'm pretty sure MM has done as much good as bad here, and that's probably very harsh.

I would say Martin Allen (you don't get a nick name like Mad Dog for nothing) was a big risk especially as his favourite song was allegedly one of Grand Master Flash's big hits. He loved early hip hop.

[Jordan]

Really? fook this--Milan needs to bring Mad Dog back NOW. That's awesome.

It's like a jungle sometimes, it makes me wonder how I keep from goin' under...

[Daggers]

Milan may not have been totally honest in what he's been saying all the time, but I can guarantee everyone now he saved the club from being more in the shit than the first time we were in admin.

Absolute bollocks.

[samuel]

Absolute bollocks.

Seconded!!.

Bert, just how can you guarantee it?

[grth2004]

stringer just put on his twitter "Clear the airspace around The Walkers" are they going to land a helicopter in the ground or something?

[davieG]

stringer just put on his twitter "Clear the airspace around The Walkers" are they going to land a helicopter in the ground or something?

Who cares let's get the attention back to what's happening on the pitch.

[grth2004]

Who cares let's get the attention back to what's happening on the pitch.

i care

[davieG]

i care

Well you spend your match days in the car par see who's coming and going and I'll be in the stand watching what's happening on the pitch.

Have you got your Car Park Season Ticket?

[grth2004]

Well you spend your match days in the car par see who's coming and going and I'll be in the stand watching what's happening on the pitch.

Have you got your Car Park Season Ticket?

bloody hell mate chill , only made a comment about a helicopter

[davieG]

bloody hell mate chill , only made a comment about a helicopter

Am I being serious, do the smiley's not convey anything to you?

[grth2004]

Am I being serious, do the smiley's not convey anything to you?

no i am stupid havent you noticed

[davieG]

no i am stupid havent you noticed

I was beginning to wonder

Let's draw a line under this and to a Leicester City thrashing of Middlesboro'

[grth2004]

I was beginning to wonder

Let's draw a line under this and to a Leicester City thrashing of Middlesboro'

no i want to tallk about the helicopter

[Salieri]

no i want to tallk about the helicopter

Have you got a fascination with choppers or summat?

Oooo, better add a , just to show that i'm joking like.

[DANGEROUS TIGER]

Now if my memory serves me right he bought the club for around £25 million 4 years ago.

By his own admission it was costing him around £5 million a year to keep the club going.

So that's a total investment for Milan of around £45 million quid.

So all up Milan has not made a bean from his time as Leicester City FC owner.

In fact he has probably ended up in the red.

I know he has had his critics but all in all I respect what Mandaric has done for the club, it is in a much better state now then when he took over.

Lets hope the new owners have the club's best interests at heart.

Well said. :thumbup:

[Mack]

Mack, it was Gaydamak who ran Pompey into the ground he just happened to flog it on to some chumps who did the same.

I know it's only wikipedia but it says this about him

"Gaydamak has been alleged to have asset stripped Portsmouth F.C. prior to this sale and yet still retains a claim, said to be £32,000,000[7], against the club as a creditor despite the huge debts at the provincial club. Investigations into these allegations are ongoing. The current whereabouts of Gaydamak are unknown; several supporters' groups have called on Gaydamak to come forward and answer these allegations but no response has been received."

There is only one man you need to look for to discover where all the money at Pompey went... Peter Storrie.

Currently to be found sunning his ample derby somewhere in the med, cash no receipt of course!

[The Doctor]

Mack, it was Gaydamak who ran Pompey into the ground he just happened to flog it on to some chumps who did the same.

I know it's only wikipedia but it says this about him

"Gaydamak has been alleged to have asset stripped Portsmouth F.C. prior to this sale and yet still retains a claim, said to be £32,000,000[7], against the club as a creditor despite the huge debts at the provincial club. Investigations into these allegations are ongoing. The current whereabouts of Gaydamak are unknown; several supporters' groups have called on Gaydamak to come forward and answer these allegations but no response has been received."

if i remember correctly gaydamak was running pompey fairly sensibly but then his joint-bank account with his dad (arcadi - accused of arms trading for a war in angola a few years back) was shut down meaning he had to sell up because he could afford the club anymore.