Babylon Posted 18 May 2011 Posted 18 May 2011 As other people have said it looks like the real money men (cronus) just took the gamble on promotion this year and now they don't want to know anymore! So we are speculating on something that was only ever speculation in the first place. Zero hard evidence that points to Cronus being "the money".
Larry_LCFC Posted 18 May 2011 Posted 18 May 2011 So we are speculating on something that was only ever speculation in the first place. Zero hard evidence that points to Cronus being "the money". Come on Babylon this is foxestalk ... only speculation is allowed
Jordan Posted 18 May 2011 Posted 18 May 2011 The Cronus folks might have been taking a gamble (speculation) but the Raksriaksorns are building a brand. I still think we're in good shape.
That lad from Japan Posted 18 May 2011 Posted 18 May 2011 Im not claiming to know the Ins and Outs of it all but as i understand it KingPower is a company worth around 4billion pounds. AFI is owned in the majority by KingPower but other wealthy investors from Thailand are involved its just that the Raksriaksorns front it all. Most of the money comes from KingPower as loans to Leicester City Football Club which have to be paid back when the club can do so, ie when match day revenue is increased in the PL. It is set up as AFI so KingPower as a company cannot be liable if there is a problem. However this wouldnt happen as they want to use Leicester City as part of their business and for the thai people. Cronus were never a major player in all this, they always had the agreemsnt to sell the 20% to AFI at any point and the Bakrie family were never involved. I think they just wanted thr momey from the PL. My mates got a degree in business ownership and management and says that there isnt much to worry about. I think hes right, they seem decent and Top was in fact a Leicester fan before all this. Its more straight forward now than when Mandaric owned the club.
shiv Posted 18 May 2011 Posted 18 May 2011 It's all well and good that they own us 100% but their last album was dog shit.. Agreed... Sing the Sorrow was much better!
Kent Posted 18 May 2011 Posted 18 May 2011 The way that i understand it is that they have £115 mil or whatever as personal wealth i.e bank balance. They then have the value of "king power" as a business and other assets. If they borrow against KP bet they have got tidy fortune stashed away That isn't how someones personal wealth is normally calculated. It's usually the value of their businesses (or the value of the shares in that business). No one knows how much floating cash people have ie. bank accounts. For example if they own 100% of KP and KP is worth £180m then they are worth £180m personally.
unreachable Posted 18 May 2011 Posted 18 May 2011 It's surprising that the supporters of LCFC are none the wiser since last October as to the identity and constitution of Asia Football Investments (AFI). It's all very deja vu but I wonder if the Foxes Trust the Leicester Mercury or The Guardian etc. ever had any joy in unravelling the mystery behind who actually owns the club. Most clubs have stated who their owners are but possibly LCFC still don't have an individual who owns more than 10% (as defined by the Football League regulations). For those who enjoy conspiracy theories there may be further changes afoot to the Football League regulations which might have caused difficulties to those having shares in the club. Who knows? The club may have been under pressure by the Football League to clarify its financial arrangements hence today's announcement. The Leicester Mercury or Radio Leicester don't seem to understand the concept of investigative journalism but just act as a mouthpiece for the club.
Babylon Posted 18 May 2011 Posted 18 May 2011 Most clubs have stated who their owners are but possibly LCFC still don't have an individual who owns more than 10% (as defined by the Football League regulations). They do, which is exactly why Arif etc were named.
unreachable Posted 18 May 2011 Posted 18 May 2011 They do, which is exactly why Arif etc were named. I must have missed any official announcements by the club about what individuals (as opposed to companies or other corporate bodies) own shares in the club. There doesn't appear to be any reference on the club's website which is what the regulations require. What then is the relationship between King Power and Asia Football Investments? I'm not aware of any official announcement. Top used the word "we" in his statement. Who does he mean? Also, do we know where "Asia Football Investments" is based and what country's laws govern its affairs?
Babylon Posted 18 May 2011 Posted 18 May 2011 I must have missed any official announcements by the club about what individuals I think you must as it was clearly stated on the website at the time.
unreachable Posted 18 May 2011 Posted 18 May 2011 I think you must as it was clearly stated on the website at the time. Some of the previous posters in this thread also share my ignorance. Perhaps you would care to enlighten us what individuals own shares in the consortium? The official website did not give any breakdown of the individuals who owned shares in the consortium.
21st Century Fox Posted 18 May 2011 Posted 18 May 2011 Some of the previous posters in this thread also share my ignorance. Perhaps you would care to enlighten us what individuals own shares in the consortium? The official website did not give any breakdown of the individuals who owned shares in the consortium. I don't think they are obliged to name individuals in a consortium as no 'individual' owns more than 10%.
Bert Posted 18 May 2011 Posted 18 May 2011 The most important thing in all this is where the money is coming from. They may be well off but if this money was all coming from banks loaned against club assets etc if they pulled the plug we would be in deep shit. More transparency is needed. Which it isn't. The owners mean BIG business and are in it for the long haul.
21st Century Fox Posted 18 May 2011 Posted 18 May 2011 Some of the previous posters in this thread also share my ignorance. Perhaps you would care to enlighten us what individuals own shares in the consortium? The official website did not give any breakdown of the individuals who owned shares in the consortium. Also this was all posted on the official website before the 100% buy out today. Leicester City Football Club is owned by two major entities. The majority shareholder is Asia Football Investments Pte who own 80% of the shares. The minority shareholder is Cronus Sports Management Pte Ltd who own the remaining 20% of the shares. The ultimate owner of Asia Football Investments Pte Ltd which is wholly owned by K Power Sports Investment Ltd is Mr Aiyawatt Raksriaksorn. The ultimate owner of Cronus Sports Management is Mr Iman Arif.
unreachable Posted 18 May 2011 Posted 18 May 2011 I don't think they are obliged to name individuals in a consortium as no 'individual' owns more than 10%. That's what I was thinking as well but the small print of the Football League regulations do have an almost impenetrable definition of ownership and do attempt to get to the beneficial ownership of the shares. The regulations require a club's website to easily take you to a statement of ownership of the club and our OS does not do so. I would like to know what country's laws govern the consortium. So much for the much trumpeted transparency of the Football League's ownership rules and associated regulations.
unreachable Posted 18 May 2011 Posted 18 May 2011 I've now found the webpage that 21st refers to http://www.lcfc.com/page/companydetails So there was a consortium of 2 people - Top and Arif were the ultimate owners of 100% of the shares in LCFC. So is Top now the ultimate owner of 100% of the shares?
That lad from Japan Posted 18 May 2011 Posted 18 May 2011 It means that Top owns AFI and AFI owns Leicester City. Top in effect is the state, and AFI are the public.
unreachable Posted 18 May 2011 Posted 18 May 2011 It means that Top owns AFI and AFI owns Leicester City. Top in effect is the state, and AFI are the public. So you think there is no consortium then? Interesting.
21st Century Fox Posted 18 May 2011 Posted 18 May 2011 AFI or K Power Sports Investment Ltd would seem to be a holding company of some sort that was set up by the King Power Group for Aiyawatt Raksriaksorn to run the club, basically he's running this arm of King Power (Sports) proabably with a view to eventually taking of King Power from his father. The consortium could mean the shareholders of King Power themselves.
21st Century Fox Posted 18 May 2011 Posted 18 May 2011 In all honesty I can't see anything nefarious or underhanded ever really cropping up with the Raksriaksorn's as it would be suicide for building their brand in the West. The reason they bought the club, put their name on our shirts and brought in sponsors like Singha was to help build their brand. If anything were to go wrong, or they suddenly pulled out and left us high and dry it would reflect appallingly on them. I think Bert summed it up best, they really are here for the long haul. They've invested too much, not just money.
unreachable Posted 18 May 2011 Posted 18 May 2011 AFI or K Power Sports Investment Ltd would seem to be a holding company of some sort that was set up by the King Power Group for Aiyawatt Raksriaksorn to run the club, basically he's running this arm of King Power (Sports) proabably with a view to eventually taking of King Power from his father. The consortium could mean the shareholders of King Power themselves. No doubt the Football League have all the relevant information. The original takeover was a fiasco with announcements made before ratification by the Football League. Watch this space.
unreachable Posted 18 May 2011 Posted 18 May 2011 In all honesty I can't see anything nefarious or underhanded ever really cropping up with the Raksriaksorn's as it would be suicide for building their brand in the West. The reason they bought the club, put their name on our shirts and brought in sponsors like Singha was to help build their brand. If anything were to go wrong, or they suddenly pulled out and left us high and dry it would reflect appallingly on them. I think Bert summed it up best, they really are here for the long haul. They've invested too much, not just money. It looks on the surface very promising but how much investment is being loaded as debt onto the club's balance sheet?
21st Century Fox Posted 18 May 2011 Posted 18 May 2011 It looks on the surface very promising but how much investment is being loaded as debt onto the club's balance sheet? None thats against any of our assets, I believe we are loaned money from King Power and we pay the money back as and when we can e.g. when we're in the Premiership. Plus King Power actually pays some wages themselves, Yakubu I think.
bmt Posted 18 May 2011 Posted 18 May 2011 Just because the name of the company is k power sports investment ltd, surely it could still be multiple investors, just headed up by top and king power as the majority stakeholder (and they have chosen to name it as it is) ie. there could still be a consortium?
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