is the take over complete

[lee(lcfc)]

hi all, is the take over complete now i've read that the football leauge was looking in to it a few week back and havent hear anything since

lee

[MrSpaM]

I don't think we'd have bought Waghorn if it was still an issue. Nothings been confirmed officially yet though

[davieG]

Not until the Football League say so.

LCFC Takeover – Trust Speaks to Football League

Written by Ian Bason Tuesday, 07 September 2010

The Foxes Trust has today checked the progress of the Raksriaksorn family (and other parties) takeover of Leicester City directly with the Football League to see if approval was close.

The Football League have confirmed to the Trust that they are happy with the level of information being supplied by the club and indeed described the club as "being very helpful" when any minor queries are raised.

The League have confirmed that they have received details of all parties involved in the takeover and that the level of financial detail provided has been good, however as yet the League Board are not in a position to finalise approval, however given that financial transactions of this nature can take time to complete, the League wanted to stress that fans have no cause for concern.

The Football League understands as soon as the takeover is approved, that the club intend to reveal all parties involved in the takeover in line with recently introduced transparency League guidelines.

Whilst the Foxes Trust, on behalf of all LCFC fans, has the authority to report the club to the Football League for not following the guidelines should the club not reveal this information, the Trust is confident that the fans will soon know all the new owners of our club without such drastic action being necessary.

[Jon the Hat]

Just a formality. The wheels of bureacracy turn slow.

[Dr The Singh]

Just a formality. The wheels of bureacracy turn slow.

So basically the consortium are waiting for a till or written reciept from Mandaric????.....I hope they request a VAT reciept, so they can claim the money back!!

[Jon the Hat]

So basically the consortium are waiting for a till or written reciept from Mandaric????.....I hope they request a VAT reciept, so they can claim the money back!!

The sale transaction has been done, as it falls under company law not the Football League. All they can do is threaten footballing sanctions if they don;t tick all the boxes. The club belongs to the consortium already is my understanding.

[Muzzy Izzet]

Has the deal gone through the football league yet?

http://www.guardian.co.uk/sport/david-conn-inside-sport-blog/2010/aug/25/leicester-takeover-football-league-transparency

[Smudge]

Has the deal gone through the football league yet?

http://www.guardian....ue-transparency

That makes some pretty ugly reading

[Jon the Hat]

We will be well shot of Milan. He clearly retains his loans to the club in the short term at least, hence why he keeps saying stakeholder not shareholder.

Makes you wonder what the "Club" actually consists of now? We don't own the ground, those in charge staff wise seem to be on a different planet, and it seems likely in the near future that the training ground will be sold off. That leaves the players who are temporary and the owners who are likely to transient at best. The only foundation remaining is the fan base, who all of the above seem to be on a mission to push away as much as they can with a combination of ticket prices, crap food and rink, (no plates) and ridiculous attitude from the stewards among others. It might just hold together if we can make it to the PromisedLand, but if not, you have to wonder...

I have no doubt that the FL will ratify the takeover.

[shiv]

According to Stringer there is a football league meeting tomorrow and the takeover could be approved.

[Lineker's Left Foot]

On a whim I believe the other 'mystery' parties involved is this chap Newin Chidchob and could be a certain Thaksin Shinawatra??

[Foxes_Trust]

On a whim I believe the other 'mystery' parties involved is this chap Newin Chidchob and could be a certain Thaksin Shinawatra??

We have a list of potential "mystery parties", however Newin Chidchob would be another Thai person, but we believe Milan's earlier comments on the set up of the consortium indicated that a party from another country was involved. hence although Newin Chidchob has invested in a Thai Premiership side (and done MK Dons to the club), we think he is low on the likely candidates list

[Fox You Forest]

Any chance we can see this list?

[Far Post Gerry]

Interestingly (or not), Newin Chidchob is a close relative of the Burmese military general, Ne Win. A good example of how tough the FL's 'fit & proper' rules are.

[Far Post Gerry]

Sorry, I just double-checked that 'fact'; he was actually named after the Burmese dictator, as his dad and Ne Win were best mates. Still not really a connection I want associated with City.

[Foxes_Trust]

Any chance we can see this list?

No, because it would just build on speculation

We have created a list, so we know the background on a number of individuals/companies, so we are able to quickly give a reaction when an announcement is made and in case we meet them soon after the announcement.

[leftsideoverhere]

That makes some pretty ugly reading

it was subject to some pretty quick demolition on here when it was published. Journalist looking to lambast the league, sees Leicester's takeover as a good angle. But really no actual story there.

[leftsideoverhere]

We have a list of potential "mystery parties", however Newin Chidchob would be another Thai person, but we believe Milan's earlier comments on the set up of the consortium indicated that a party from another country was involved. hence although Newin Chidchob has invested in a Thai Premiership side (and done MK Dons to the club), we think he is low on the likely candidates list

I'm now worried because you've not said anything about it being unlikely to be Thaksin Shinawatra that's involved. Please tell me that you're confident that particular scumbag isn't coming anywhere near our football club? It's all relative, and I'm well aware that Mandaric didn't make his millions by feeding starving children and helping the lame to walk, but Shinawatra's fingerprints anywhere near this deal would do horrible things to my love affair with LCFC.

[Wymsey]

I'm now worried because you've not said anything about it being unlikely to be Thaksin Shinawatra that's involved. Please tell me that you're confident that particular scumbag isn't coming anywhere near our football club? It's all relative, and I'm well aware that Mandaric didn't make his millions by feeding starving children and helping the lame to walk, but Shinawatra's fingerprints anywhere near this deal would do horrible things to my love affair with LCFC.

Agree fully.

[The Padster]

Leicester City set to unveil third members in the consortium that has bought club

Milan Mandaric, Vichai Raksriaksorn and Aiyawatt Raksriaksorn

The third members in the consortium that has bought Leicester City will be unveiled "imminently", chief executive Lee Hoos has revealed.

The newcomers, who will join Vichai and Aiyawatt Raksriaksorn, and chairman Milan Mandaric, in the Asia Football Investments consortium, have held talks with the group and are ready to come on board.

Hoos said the group were from Asia, like the Raksriaksorn family, and would invest substantially in the club.

Hoos also said the takeover would soon get the green light from the Football League, who have been examining all the documentation with due diligence, and then all the details of the new owners would be published.

An announcement could come as soon as next week, and Hoos said: "It is imminent. We are looking at that right now and we should have that done extremely quickly.

"They are from a similar geographical area, and they have already got together with the rest of the consortium.

"All the investment will be coming from the consortium, the two different groups coming together.

"There is an audit file and a transparency of funding, but the Football League need to go through that first and when they are happy we will make all the disclosures.

"We will have all this resolved extremely quickly.

"We will then publish all the information on the club website and there will be a separate section detailing how it will be all structured.

"All the directors will be listed and the details of the consortium, and how it is composed."

Hoos said the new owners had not raised the money to buy the club from Mandaric, who retains a stake in the consortium, by using the club's assets, as the owners of Manchester United and Liverpool have controversially done, but he would not divulge the amount the deal is worth.

The consortium has also taken on the club debt, which is estimated to be around £26million, and will review the best way to manage it. Hoos added: "I think they call that gearing, and no, they have not geared anything in terms of the club asset.

"By buying the club you assume all the liabilities of the club. They have taken on the debt.

"That is one of the things we will be looking at, utilising their financial expertise and their financial muscle power, in terms of how we restructure things.

"It is a manageable debt. It is a case of making sure we keep it under control. If that is the most economic way to do it then that is what you do, if not you restructure the debt and do it another way."

Merc

[Trav Le Bleu]

I'm more concerned about Lee's seeming inability to use capitals.