davieG Posted 14 October 2010 Posted 14 October 2010 From the Merc Leicester City's takeover will today be discussed by the board of the Football League. The sale of City by Milan Mandaric to the Asia Football Investments consortium is on the agenda at the League's monthly board meeting and the deal could be finally ratified. The board may not officially give final approval today, but the Mercury understands the deal is expected to be ratified before the next monthly meeting, if not today. Sources at the Football League said there have been no "red flags" for the takeover and they have received no information to put the takeover into any doubt. Indeed, they said the process is nearly finished. If the deal is not rubber-stamped today, it will be due to procedural issues and not policy problems. Since the consortium – headed by Aiyawatt and Vichai Raksriaksorn, owners of the King Power Group of Thailand – took over, City have been submitting relevant information to the Football League, who have been satisfied with all the information received. The delay has been because, under new legislation, the League has to examine all takeovers in much closer detail, and City have been the first case to be applied to the new guidelines. The news that the takeover should soon be completed will be welcomed by new City manager Sven-Goran Eriksson, who has revealed he has been told by the Raksriaksorns that he can have whatever cash he needs to get the club into the Premier League in the next couple of seasons.
Zingari Posted 14 October 2010 Posted 14 October 2010 Quite interesting but , Will they be rubber stamping the Webbo for mod proposal today ?
Mark 'expert' Lawrenson Posted 14 October 2010 Posted 14 October 2010 The football league quite understandably are going to scrutinise every takeover in minute detail from now on, frustrating I know but has to be done. Hopefully will be sorted very soon.
Trav Le Bleu Posted 14 October 2010 Posted 14 October 2010 So they're saying it may, or may not, be finalised today?
Alexikokopops Posted 14 October 2010 Posted 14 October 2010 So they're saying it may, or may not, be finalised today? They're saying if it's not confirmed today it's only because of procedural things, not because the new owners are dodgy fuckers
davieG Posted 15 October 2010 Author Posted 15 October 2010 Today from the Merc The Football League did not ratify the takeover of Leicester City at their monthly Board meeting yesterday, but are expected to do so next week. The League still has some procedures to go through before approving the sale of City by Milan Mandaric to the Asia Football Investments consortium. However, the Football League still insists there have been no 'red flags' so far.
Fox You Forest Posted 15 October 2010 Posted 15 October 2010 I'm not sure how much more "next week" I can take.
AmyLGK Posted 15 October 2010 Posted 15 October 2010 Seems like as this is the first such case they are really taking their time to dot the i's and cross the t's - I bet after a few takeovers the process will be cut down to a matter of weeks.
Jon the Hat Posted 15 October 2010 Posted 15 October 2010 They would look like a complete bunch of idiots if they got this one wrong, so I can understand them being very very thorough.
Jackirius Posted 15 October 2010 Posted 15 October 2010 I hope they are just being thorough, but this is taking some serious time ...
Fox You Forest Posted 22 October 2010 Posted 22 October 2010 Stringer says it will be done tomorrow,or today even didn't realise what the time was.
HonradaRaposa Posted 22 October 2010 Posted 22 October 2010 Am I still being screened Be interesting to see if they take this long with Hull's proposed takeover.
Babylon Posted 22 October 2010 Posted 22 October 2010 Am I still being screened Be interesting to see if they take this long with Hull's proposed takeover. When the league were asked by the foxes trust why the Leicester and Liverpool takeovers differed so much in how long they took, they said (perhaps not in these exact words as I can't find the trust quote) that Liverpool has been sending in information for quite some time before any announcements were made, where as we made the announcement and then started sending in the information. The foxes trust trust were told they had taken roughly the same amount of time.
HonradaRaposa Posted 22 October 2010 Posted 22 October 2010 When the league were asked by the foxes trust why the Leicester and Liverpool takeovers differed so much in how long they took, they said (perhaps not in these exact words as I can't find the trust quote) that Liverpool has been sending in information for quite some time before any announcements were made, where as we made the announcement and then started sending in the information. The foxes trust trust were told they had taken roughly the same amount of time. Call me a cynic but I would say any of the so called big clubs would get their takeover approved much quicker than any of the rest of us. The Premier League were almost crossing in to that grey area of 'conflict of interest' during that Liverpool saga.
stu Posted 22 October 2010 Posted 22 October 2010 Stringer... "The deal for Asia Football Investments to takeover #LCFC will be ratified by the football league at midday. Details of the deal remain vague"
Babylon Posted 22 October 2010 Posted 22 October 2010 Stringer... "The deal for Asia Football Investments to takeover #LCFC will be ratified by the football league at midday. Details of the deal remain vague" They have to release certain information, not sure exactly what but we will know all the people involved. If they don't release it the trust have already said they will report the club.
Fox You Forest Posted 22 October 2010 Posted 22 October 2010 They have to release certain information, not sure exactly what but we will know all the people involved. If they don't release it the trust have already said they will report the club. They don't have the balls.
bettso Posted 22 October 2010 Posted 22 October 2010 They don't have the balls. Report them for what exactly? I'm curious to know who the other party is but why is there this burning need for it to be revealed?
Babylon Posted 22 October 2010 Posted 22 October 2010 Report them for what exactly? I'm curious to know who the other party is but why is there this burning need for it to be revealed? They HAVE to make those details open to the public under the new rules, if they don't then they could be forced to by the league. They don't have the balls. They have nothing to lose as the club ignores them anyway.
bettso Posted 22 October 2010 Posted 22 October 2010 They HAVE to make those details open to the public under the new rules, if they don't then they could be forced to by the league. They have nothing to lose as the club ignores them anyway. If this is the case, there wont be any need for the trust to be involved as surely the league won't ratify unless this is fulfilled?
stu Posted 22 October 2010 Posted 22 October 2010 League approves new owners Doesn't tell us anything new...
Guest shearfox Posted 22 October 2010 Posted 22 October 2010 League approves new owners Doesn't tell us anything new... Finally....
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