Asian consortium to buy out City

[4-4-2]

http://www.newsoftheworld.co.uk/sport/football/872503/ASIAN-CONSORTIUM-TO-BUY-OUT-CITY.html

LEICESTER CITY are on the brink of a multi-million pound buy-out by an Asian consortium.

The Championship club have been linked with takeovers recently after chairman Milan Mandaric indicated he was willing to listen to offers.


And a deal to sell to the South Asian group, whose main players come from Indonesia, could be completed this week.


The Foxes appointed former QPR and Swansea boss Paulo Sousa as manager this week on the understanding that new investment would arrive this summer.


Super-agent Pini Zahavi has brokered the potential deal and Leicester appear to have found new owners with the cash and desire to take them back into Premier League.

The prospective new owners want to make Leicester a household name in South Asia by bankrolling a return to the top flight and setting up academies in their home region.

They regard Leicester the city, with its large Indian population, as the ideal place to fulfil their dream of building a club. Leicester are relatively clear of debt and the recently-built 32,000-seater Walkers Stadium, as well as the successful youth academy, are already of Premier League standard.

The Foxes secured a play-off place in the Championship last season in their first year after being promoted as champions from League One.

But they allowed boss Nigel Pearson to leave the Walkers Stadium for Hull last month.

 

[Nottingham Fox]

Leicester are relatively clear of debt

:icon_lol: :icon_lol: :icon_lol:

 

[okie fox]

:icon_lol: :icon_lol: :icon_lol:

Glad the potential new owners aren't Americans -- if they were, we would be saddled with a lot more debt.

 

[Hazzman]

Glad the potential new owners aren't Americans -- if they were, we would be saddled with a lot more debt.

That's not the case with Villa is it?

 

[Han]

Depends on which other clubs they were looking at, maybe we're not in such a bad way after all?

 

[PONTUS KAAMARK]

I personally don't think this is a good thing.

 

[ChrisFilter]

Uh oh.

 

[Scotfox]

Remember its a NoW story, they do tend to get carried away, with little bits of information already in the public domain, the possibility of Asian interest has already been well covered here and in the press, they seem to have added a few knobs and twiddley bits, with no concrete evidence, other than a 'super agent'; who wouldn't of course be making any money from this story would he. lets wait and see, if I'm wrong so be it.

 

[FryattFox]

That's not the case with Villa is it?

Yes. They are completely dependent on Randy Lerner and last year he pumped in another £15m odd, which would be classified as debt if he decided to get rid. They're not as bad as teams like Liverpool, but they're in the same boat as most clubs in that their owner is racking up debt against their assets.

 

[GazLCFC]

That's not the case with Villa is it?

It is! Villa owe Lerner and his Company c. £50m.

He has put in about £30m of cash in to the club, the rest is Loan Notes to other companies.

I believe their total debt is over £100m

 

[fitz]

Do people expect any owner to simply donate money to a club they previously had **** all interest in? If there is such a bloke I doubt he'd chose Leicester. Fact is we'll be dubious/unhappy towards any owner

 

[Harbro-Fox]

Good news, if they don't buy Kaka and Rooney then I will be dissapointed.

 

[TornadoShaunUK]

We'd be better off with Mandaric in charge IMO as we know atleast that he has a head for business in football.

 

[Boy Genius]

Glad the potential new owners aren't Americans -- if they were, we would be saddled with a lot more debt.

Would we? I know I wouldn't be.

 

[Boy Genius]

Do people expect any owner to simply donate money to a club they previously had **** all interest in? If there is such a bloke I doubt he'd chose Leicester. Fact is we'll be dubious/unhappy towards any owner

But everyone is a successful business owner and know what they are talking about Fitz. They are just pointing out, as successful business owners in their own right, where these people who own the club go wrong.

 

[Hazzman]

Do people expect any owner to simply donate money to a club they previously had **** all interest in? If there is such a bloke I doubt he'd chose Leicester. Fact is we'll be dubious/unhappy towards any owner

Football will kill itself because every club in the country is just waiting for the opportunity to be pick up. It's gone to a level respectable millionaires can't even keep up with. My issue with Mandaric is the way his ego presents himself, he loves the attention and wants to be involved rather than taking a back seat.

Before anyone says, prove that Mandaric meddles....the combination of his odd ways, tax allegations and how Portsmouth eventually went post-sale certainly concern me. Wouldn't at all surprise me to see him at Portsmouth again if any of the news of this sale is true.

 

[Boy Genius]

Football will kill itself because every club in the country is just waiting for the opportunity to be pick up. It's gone to a level respectable millionaires can't even keep up with. My issue with Mandaric is the way his ego presents himself, he loves the attention and wants to be involved rather than taking a back seat.

Before anyone says, prove that Mandaric meddles....the combination of his odd ways, tax allegations and how Portsmouth eventually went post-sale certainly concern me. Wouldn't at all surprise me to see him at Portsmouth again if any of the news of this sale is true.

Odd ways? explain please

 

[Hazzman]

Odd ways? explain please

The whole Perrin/Zajec episode at Portsmouth.
The invitation to Sousa for a game between two rival teams.
The Amdy Faye investigation.
The occasion he appointed a manager without a contract at City leaving us ****ed when Bolton come calling.
The Hasselbaink episode when Allen was here.

There's a few.

 

[fitz]

Football will kill itself because every club in the country is just waiting for the opportunity to be pick up. It's gone to a level respectable millionaires can't even keep up with.

Exactly my point, with Mandy or a new owner we could still have the same issue...

Could spend hours discussing who is to blame but I'm sure its all been done before

 

[Boy Genius]

The whole Perrin/Zajec episode at Portsmouth.
The invitation to Sousa for a game between two rival teams.
The Amdy Faye investigation.
The occasion he appointed a manager without a contract at City leaving us ****ed when Bolton come calling.
The Hasselbaink episode when Allen was here.

There's a few.

personally I think you are just jumping to conclusions on most of the points. We don't and never will know what goes on behind closed doors at a football club, a lot of speculation goes on and always will. I have never heard the non contract story but I do know we got some money from Bolton when he left. IMO and a lot of others it was good to see the back of him. (Maybe he was on a trial and thats why there was no contract if that was true.)
The Hasselbaink issue could have evolved from a host of things, but I can remember a whole load of times when an old head has helped out and delivered.
As for Sousa being invited by Milan to the play off match, what's wrong with that? Also I know NP was being a pain in the arse at the club well before then. Maybe for Sousa it was for pre appointment talks.