halferowley2 Posted 1 April 2012 Posted 1 April 2012 So LCFC is in debt by £28 million, am I right......... LCFC is owned by a Thai led consortium who have lent LCFC £28 million......... Who at LCFC asked for the loan and agreed the 8% interest payments ? And if the owners refused to pay back the money they owe themselves what happens? Oh and will this affect the price of my season ticket? Its all questions and no answers really. Where is Top these days.
Happy Fox Posted 1 April 2012 Posted 1 April 2012 So LCFC is in debt by £28 million, am I right......... LCFC is owned by a Thai led consortium who have lent LCFC £28 million......... Who at LCFC asked for the loan and agreed the 8% interest payments ? And if the owners refused to pay back the money they owe themselves what happens? Oh and will this affect the price of my season ticket? Its all questions and no answers really. Where is Top these days. No the debt is greater than £28m it amounts to a £50m region, the £28m with an 8% percent interest has to be made payable in a year time
unreachable Posted 1 April 2012 Posted 1 April 2012 No the debt is greater than £28m it amounts to a £50m region, the £28m with an 8% percent interest has to be made payable in a year time The accounts state "The parent company has confirmed that they will not seek repayment of these loans within 12 months of the date of signing the accounts if such payment would prejudice the ability of the company to settle it's other obligations when they fall due".It would be surprising if the creditors would push the club into administration. Let's hope that promotion is on the horizon this time next season.
halferowley2 Posted 1 April 2012 Posted 1 April 2012 No the debt is greater than £28m it amounts to a £50m region, the £28m with an 8% percent interest has to be made payable in a year time And if as reported our wage bill is 100% of our takings we cant service the interest on the loan never mind repay it so Premier League football is vital for our survival.
PAULCFC Posted 1 April 2012 Posted 1 April 2012 Our ground is sponsered by them.....our kit is sponsered by them.Bit of a coincidence?
unreachable Posted 1 April 2012 Posted 1 April 2012 Our ground is sponsered by them.....our kit is sponsered by them.Bit of a coincidence? So you know who are the beneficial owners of Asia Football Investments Pte Limited (registered in Singapore). No one else does.
halferowley2 Posted 1 April 2012 Posted 1 April 2012 Our ground is sponsered by them.....our kit is sponsered by them.Bit of a coincidence? OMG should I think about supporting the cobblers
Happy Fox Posted 1 April 2012 Posted 1 April 2012 So you know who are the beneficial owners of Asia Football Investments Pte Limited (registered in Singapore). No one else does. That is the bloody problem no one knows for sure who owns the club, the fact they are loaning the money is a problem as well because that adds to the uncertainty.. I am worried and at the same time hoping that we get into the prem soon.
unreachable Posted 1 April 2012 Posted 1 April 2012 That is the bloody problem no one knows for sure who owns the club, the fact they are loaning the money is a problem as well because that adds to the uncertainty.. I am worried and at the same time hoping that we get into the prem soon. I'm quite tempted to do a company search in Singaporehttp://www.acra.gov.sg but doubt whether any individual names will be revealed. The Football League will have the information but aren't obliged to make it public. I have never been entirely clear why the club doesn't comply with the following regulation: http://www.football-league.co.uk/regulations/20110629/section-9-association-dual-interests_2293633_2125750 "Regulation 94 Publication of Ownership Each club shall publish the identities of the Ultimate Owner (Person, not Entity) of each Significant Interest in the Club (as that term is defined Rule 1.1 Appendix 4). That information shall as a minimum be published on the Club’s official website on a page accessible directly from the home page of that official club website." One explanation is that no one person has an interest exceeding 10% of the share capital. It's time The Foxes Trust or The Leicester Mercury explored the matter further. Why won't they?
Happy Fox Posted 1 April 2012 Posted 1 April 2012 I'm quite tempted to do a company search in Singapore http://www.acra.gov.sg but doubt whether any individual names will be revealed. The Football League will have the information but aren't obliged to make it public. That is debatable, because if they did have the information why cannot they make it public?
dave the caveman Posted 1 April 2012 Posted 1 April 2012 One massive problem is that they know very little about football. I've seen this implied a few times but this is the first time I've seen someone actually come out and say it. Is there actually any evidence to back up this claim, or is it just based on the fact that they are foreign so of course they don't know anything about football? And if you're basing it on their managerial appointments, get a grip.
Gold Coast Fox Posted 1 April 2012 Posted 1 April 2012 I think the technical term is 'In the s**t' We should be ok as long as the owners are here for the long run. (I believe they are)
dave the caveman Posted 1 April 2012 Posted 1 April 2012 They could sell Belvoir Drive. They could sell Belvoir Drive, but why would they? They own the club, if they want out then they have to sell the club. Any sold assets reduce the resale value. Likewise any outstanding debts such as loans reduce the resale value. The loan is a complete non-issue.
wellyfox Posted 1 April 2012 Posted 1 April 2012 Do love this I brought it up after a match a couple of weeks ago. Got told I was a fvcking Idiot and talking about stuff without thinking about it Also how much are we getting for the shirt and ground sponsorship is that in the accounts?
davieG Posted 1 April 2012 Posted 1 April 2012 They could sell Belvoir Drive, but why would they? They own the club, if they want out then they have to sell the club. Any sold assets reduce the resale value. Likewise any outstanding debts such as loans reduce the resale value. The loan is a complete non-issue. To pay off the loan, then could then afford to sell the club for a much lower and more acceptable figure without any losses.
dave the caveman Posted 1 April 2012 Posted 1 April 2012 To pay off the loan, then could then afford to sell the club for a much lower and more acceptable figure without any losses. They'd be selling the club for less than they bought it which would result in a loss.
davieG Posted 1 April 2012 Posted 1 April 2012 They'd be selling the club for less than they bought it which would result in a loss. You know that how when no figures are known certainly not the selling figure. I'm not saying they will just that it might be an option for them, Mandaric was planning to sell it until the Thai's turned up to save his ass.
jamesmilner Posted 2 April 2012 Posted 2 April 2012 So LCFC is in debt by £28 million, am I right......... LCFC is owned by a Thai led consortium who have lent LCFC £28 million......... Who at LCFC asked for the loan and agreed the 8% interest payments ? And if the owners refused to pay back the money they owe themselves what happens? Oh and will this affect the price of my season ticket? Its all questions and no answers really. Where is Top these days. andrew neville is the director of football , go above him and you run into kp staff ! his first year in football and look what he agreed to with sven in respect of players and wages ! out of his depth by a mile !
davieG Posted 2 April 2012 Posted 2 April 2012 andrew neville is the director of football , go above him and you run into kp staff ! his first year in football and look what he agreed to with sven in respect of players and wages ! out of his depth by a mile ! Are you talking about Andrew Neville if so he's been at the club since MON brought him in to act as buffer between him and the board.
Vestan Pance Posted 2 April 2012 Posted 2 April 2012 They could sell Belvoir Drive, but why would they? They own the club, if they want out then they have to sell the club. Any sold assets reduce the resale value. Likewise any outstanding debts such as loans reduce the resale value. The loan is a complete non-issue. Are we certain that the club still owns the training ground?
Libertine Dream Posted 2 April 2012 Posted 2 April 2012 I'm quite tempted to do a company search in Singapore http://www.acra.gov.sg but doubt whether any individual names will be revealed. The Football League will have the information but aren't obliged to make it public. I have never been entirely clear why the club doesn't comply with the following regulation: http://www.football-league.co.uk/regulations/20110629/section-9-association-dual-interests_2293633_2125750 "Regulation 94 Publication of Ownership Each club shall publish the identities of the Ultimate Owner (Person, not Entity) of each Significant Interest in the Club (as that term is defined Rule 1.1 Appendix 4). That information shall as a minimum be published on the Club’s official website on a page accessible directly from the home page of that official club website." One explanation is that no one person has an interest exceeding 10% of the share capital. It's time The Foxes Trust or The Leicester Mercury explored the matter further. Why won't they? Go for it unreachable! As I said in another thread I was going to do it when the results were announced but didnt have a payment method.
unreachable Posted 2 April 2012 Posted 2 April 2012 Go for it unreachable! As I said in another thread I was going to do it when the results were announced but didnt have a payment method. Very few fans seem bothered about such matters. I really don't understand. Why we don't publish our ownership is a mystery - we just name the directors on our website. Forest, Stevenage etc. all seem to publish their owners.I'm afraid that those who have a vested interest and the necessary resources to investigate the information will not do so since Ian Stringer wouldn't want to be excluded from the ground and the Foxes Trust and the Leicester Mercury won't rock the boat. It's very sad that few people are interested.
dannythefox Posted 2 April 2012 Posted 2 April 2012 Imo I think that if we don't go up next season the thai's could well pull the plug which would really cause some problems. They don't come to half as many games since Sven left and there's not been any interviews of them saying we intend to stay/go/whatever which I think would put the fans at ease a bit. There's one good thing about Pearson he wont sign players for stupid amounts of money and pay them stupid wages but I'm not sure how long he will have here if we don't start improving.
davieG Posted 2 April 2012 Posted 2 April 2012 Are we certain that the club still owns the training ground? I believe we do and i think we have the Thai's to thank for that because if they hadn't come along with sufficient readies to buy out Mandaric it would be long gone and we'd be training our team somewhere north of Coalville on some cheap reclaimed mining land
unreachable Posted 2 April 2012 Posted 2 April 2012 Are we certain that the club still owns the training ground? A search can be made at H.M. Land Registry to obtain details of the freehold owner and mortgages secured on the land. The register is open to the public.
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