Dan Posted 3 November 2010 Posted 3 November 2010 Got two SWFC mates on my msn, both virtually simultaneously popped up telling me on their phone-in Mandaric is linked with buying them out. Good move if it happens, IMO. Just a rumour though, and sorry if it's already up.
Guppy Posted 3 November 2010 Posted 3 November 2010 I see the investors at Sheffield Wednesday have pulled out. They need a money-man with football experience to save the day, know anyone? ;-)4 minutes ago via ÜberTwitter
northern fox Posted 3 November 2010 Posted 3 November 2010 If you read Stringers Twitter account he virtually says similiar not in so may words you no stringer his stupid cryptic clues
Simmo86 Posted 3 November 2010 Posted 3 November 2010 Got two SWFC mates on my msn, both virtually simultaneously popped up telling me on their phone-in Mandaric is linked with buying them out. Good move if it happens, IMO. Just a rumour though, and sorry if it's already up. For Leicester
Ashley Posted 3 November 2010 Posted 3 November 2010 For Leicester There probably wouldn't be a Leicester City if Milan didn't take over us
Simmo86 Posted 3 November 2010 Posted 3 November 2010 There probably wouldn't be a Leicester City if Milan didn't take over us Maybe.......but time for him to go. We're better off without
MPH Posted 3 November 2010 Posted 3 November 2010 ah yes. wanting out of leicester so that he can spend time with his family and other buisnesses he has. Milan, just tell the truth. Is it REALLY that difficult for you to do?
accessory Posted 3 November 2010 Posted 3 November 2010 There probably wouldn't be a Leicester City if Milan didn't take over us Absolutely. Remember the £25 million he put into the club?
MPH Posted 3 November 2010 Posted 3 November 2010 Absolutely. Remember the £25 million he put into the club? . another one of MM's truths....
Simmo86 Posted 3 November 2010 Posted 3 November 2010 Absolutely. Remember the £25 million he put into the club? You don't believe that? Surely?
Ric Flair Posted 3 November 2010 Posted 3 November 2010 I swear he was linked with them just before or during his drawn out takeover of us!
accessory Posted 3 November 2010 Posted 3 November 2010 You don't believe that? Surely? I read it in the Mercury. So it has to be true..
Wymsey Posted 3 November 2010 Posted 3 November 2010 This was way way ago....... http://www.google.co.uk/url?sa=t&source=web&cd=1&sqi=2&ved=0CBUQFjAA&url=http%3A%2F%2Fwww.sheffwed.vitalfootball.co.uk%2Farticle.asp%3Fa%3D27935&ei=DbfRTL7tL4PFswaZmN2XCw&usg=AFQjCNFgNyZt3GxWcv5Lf6JuUC_qbxo8fw
5waller5 Posted 4 November 2010 Posted 4 November 2010 We can debate whether Milan actually put in £25m all day long and get nowhere ... I personally doubt a £25m cheque was ever presented .... however he had the financial clout to be able to underwrite the debt. The people we owed the money to were happy to accept his guarantees of repayment. He didn't need to ut £25m in - but he did effectively make a £25m risk .... and there wasn't anyone else willing to at that time - so whatever you think of him now ... he did save the club (IMHO).
MPH Posted 4 November 2010 Posted 4 November 2010 We can debate whether Milan actually put in £25m all day long and get nowhere ... I personally doubt a £25m cheque was ever presented .... however he had the financial clout to be able to underwrite the debt. The people we owed the money to were happy to accept his guarantees of repayment. He didn't need to ut £25m in - but he did effectively make a £25m risk .... and there wasn't anyone else willing to at that time - so whatever you think of him now ... he did save the club (IMHO). No we can't debate all day long that he put 25m into the Club because its been proven that he hasn't. He paid an absolute fraction of the face vale of the shares off of the people who saved the club. @ the htc g1 for not being able to do links.
5waller5 Posted 4 November 2010 Posted 4 November 2010 No we can't debate all day long that he put 25m into the Club because its been proven that he hasn't. He paid an absolute fraction of the face vale of the shares off of the people who saved the club. @ the htc g1 for not being able to do links. He was the only person that was willing to pay anything for those shares and underwrite the associated debts ..... If there was a better choice - someone willing to pay more for those shares then the shareholders at the time would have sold to that person. Simple as that - he was the only person willing to buy so he got it cheap - but you can't slate him for being the only person willing to take the risk and buy the club - it had to be at a price to be tempting otherwise he'd have just taken his money and invested it somewhere else instead. Then we'd have a forum dedicated to the memory of LCFC. The fact remains, like it or not, he saved the club.
breadandcheese Posted 4 November 2010 Posted 4 November 2010 He was the only person that was willing to pay anything for those shares and underwrite the associated debts ..... If there was a better choice - someone willing to pay more for those shares then the shareholders at the time would have sold to that person. Simple as that - he was the only person willing to buy so he got it cheap - but you can't slate him for being the only person willing to take the risk and buy the club - it had to be at a price to be tempting otherwise he'd have just taken his money and invested it somewhere else instead. Then we'd have a forum dedicated to the memory of LCFC. The fact remains, like it or not, he saved the club. Except it's not a fact he saved the club. The club would not have gone bust if Mandaric hadn't stepped in. That is a Mandaric misrepresentation to the press/public, which we've seen time and again throughout his tenure.
davieG Posted 4 November 2010 Posted 4 November 2010 He was the only person that was willing to pay anything for those shares and underwrite the associated debts ..... If there was a better choice - someone willing to pay more for those shares then the shareholders at the time would have sold to that person. Simple as that - he was the only person willing to buy so he got it cheap - but you can't slate him for being the only person willing to take the risk and buy the club - it had to be at a price to be tempting otherwise he'd have just taken his money and invested it somewhere else instead. Then we'd have a forum dedicated to the memory of LCFC. The fact remains, like it or not, he saved the club. The club wasn't even for sale, yes we may have struggled on and even ended up in L3 but that doesn't mean we would have gone under. One of those shareholders was Greg Clarke now the FL Chairman and he resigned rather than agree to sell to Mandaric - I wonder why?
5waller5 Posted 4 November 2010 Posted 4 November 2010 The club wasn't even for sale, yes we may have struggled on and even ended up in L3 but that doesn't mean we would have gone under. One of those shareholders was Greg Clarke now the FL Chairman and he resigned rather than agree to sell to Mandaric - I wonder why? The club was absolutely for sale - they had to consider any route out of administration, sale or trade out of difficulty - it's what administrators are paid to do. Well the people I've spoken to have all said it was a pretty desperate time ... and that it wasn't appreciated just how close to not servicing the debts the club was (so trading out of the difficulty would have been seen as almost impossible) - and once that happens a winding up order is served and you've gone ... These guys were ex-directors - they should have known the score. I'm sure there was a complex set of sometimes conflicting opinions and a situation that would have had many solutions - one of which was to sell to MM ... ultimately the majority of the people faced with the choice could only see that one realistic way out of the mess they were in. MM was the only guy willing to step forward and use his financial clout to "save" the club from extinction. Many local "fans" with lots of money were approached and they didn't come forward as potential sources of the necessary backing. I'm not a massive MM fan ... I think his age (one factor) means that he views things with too short a time frame in mind - I don't mind him viewing the club as a business - it is ... but I don't like his short-termism. However I find it very difficult to hear people who know little about business (i'm talking about the average fan and football journalist here - not necessarily the forum members on here expressing their opinion) say he didn't "invest" or "save" the club. Without him "investing" risk of losing his money that he was willing to put forward as a guarantee against servicing he debt then the business in it's current format would have gone - which to me means he saved the club.
unreachable Posted 4 November 2010 Posted 4 November 2010 The club was absolutely for sale - they had to consider any route out of administration, sale or trade out of difficulty - it's what administrators are paid to do. Well the people I've spoken to have all said it was a pretty desperate time ... and that it wasn't appreciated just how close to not servicing the debts the club was (so trading out of the difficulty would have been seen as almost impossible) - and once that happens a winding up order is served and you've gone ... These guys were ex-directors - they should have known the score. I'm sure there was a complex set of sometimes conflicting opinions and a situation that would have had many solutions - one of which was to sell to MM ... ultimately the majority of the people faced with the choice could only see that one realistic way out of the mess they were in. MM was the only guy willing to step forward and use his financial clout to "save" the club from extinction. Many local "fans" with lots of money were approached and they didn't come forward as potential sources of the necessary backing. I'm not a massive MM fan ... I think his age (one factor) means that he views things with too short a time frame in mind - I don't mind him viewing the club as a business - it is ... but I don't like his short-termism. However I find it very difficult to hear people who know little about business (i'm talking about the average fan and football journalist here - not necessarily the forum members on here expressing their opinion) say he didn't "invest" or "save" the club. Without him "investing" risk of losing his money that he was willing to put forward as a guarantee against servicing he debt then the business in it's current format would have gone - which to me means he saved the club. We need to get our history books out yet again. The club was not in administration when MM appeared on the scene. The club was out of administration. You are plainly wrong factually.
davieG Posted 4 November 2010 Posted 4 November 2010 The club was absolutely for sale - they had to consider any route out of administration, sale or trade out of difficulty - it's what administrators are paid to do. Well the people I've spoken to have all said it was a pretty desperate time ... and that it wasn't appreciated just how close to not servicing the debts the club was (so trading out of the difficulty would have been seen as almost impossible) - and once that happens a winding up order is served and you've gone ... These guys were ex-directors - they should have known the score. I'm sure there was a complex set of sometimes conflicting opinions and a situation that would have had many solutions - one of which was to sell to MM ... ultimately the majority of the people faced with the choice could only see that one realistic way out of the mess they were in. MM was the only guy willing to step forward and use his financial clout to "save" the club from extinction. Many local "fans" with lots of money were approached and they didn't come forward as potential sources of the necessary backing. I'm not a massive MM fan ... I think his age (one factor) means that he views things with too short a time frame in mind - I don't mind him viewing the club as a business - it is ... but I don't like his short-termism. However I find it very difficult to hear people who know little about business (i'm talking about the average fan and football journalist here - not necessarily the forum members on here expressing their opinion) say he didn't "invest" or "save" the club. Without him "investing" risk of losing his money that he was willing to put forward as a guarantee against servicing he debt then the business in it's current format would have gone - which to me means he saved the club. They weren't in administration!
MPH Posted 4 November 2010 Posted 4 November 2010 We need to get our history books out yet again. The club was not in administration when MM appeared on the scene. The club was out of administration. You are plainly wrong factually. They weren't in administration! to back up whats already stated: note the dates David Conn: Leicester's tax deal indicates easier way out for crisis clubsGovernment's plan to help insolvent companies threatens Football League with glut of members opting for administration Saturday, 22 February 2003 Leicester City's new owners, chaired by Gary Lineker's agent Jon Holmes, may be considering a sentimental restoration of the club's original Victorian name, Leicester Fosse, to mark their new beginning, but the Football League and other clubs are still shocked at the deal which saw Holmes' consortium pay a mere £1.25m to buy Leicester out of administration, leaving millions of pounds of debt unpaid, including more than £6m to the Inland Revenue. A League spokesman said this week that the tax man's acceptance of a tenth of nearly £7m – although this could rise to 40 per cent if Leicester are promoted and survive in the Premiership – owed by Leicester could lead to "an avalanche of clubs" looking to wipe out their tax bills by going into administration. Leicester City's new owners, chaired by Gary Lineker's agent Jon Holmes, 04 January 2007Milan Mandaric's takeover of Leicester City could be significantly closer to being completed, after the resignation of a leading club director. City law partner James Johnson has left the board and it's believed he couldn't support a recommendation to shareholders that they accept the bid. this last one has the link.... Almost 6.4million shares were issued at £1 each between the time the club went out of administration in 2003 and Mandaric's takeover, and it cost him more than £600,000 initially to buy the shares he needed in 2007. http://www.thisisleicestershire.co.uk/news/Leicester-City-shareholders-say-missing-cash-windfall-worth-price-Premier-dream/article-2271890-detail/article.html He bought the club for £600,000 not 25 million
grth2004 Posted 4 November 2010 Posted 4 November 2010 We can debate whether Milan actually put in £25m all day long and get nowhere ... I personally doubt a £25m cheque was ever presented .... however he had the financial clout to be able to underwrite the debt. The people we owed the money to were happy to accept his guarantees of repayment. He didn't need to ut £25m in - but he did effectively make a £25m risk .... and there wasn't anyone else willing to at that time - so whatever you think of him now ... he did save the club (IMHO). totally agree , people sometimes forget how bad things were
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