Bbc

[Real Sharapova]

If it wasn't about money I don't think there would be a problem.

I do wonder how much ego is involved.

I do wonder if there is a problem at all, apart from MM still maybe having an interest in Portsmouth. If that is the case, any delay is nothing to do with LCFC.

 

[SilverFox]

I think that there probably is something wrong...no smoke without fire and all.

Not sure if it can't be overcome...but that depends on how serious we are about selling. I would hate to see the club screw this up. It would almost be criminal if they did.

 

[western road]

According to yesterdays Times he's still owed £8 million from his deal with Pompey(gadymak) summat like that anyway........but I've heard that Mandaric will takeover here the 2nd week in January.

 

[Real Sharapova]

I think that there probably is something wrong...no smoke without fire and all.

Not sure if it can't be overcome...but that depends on how serious we are about selling. I would hate to see the club screw this up. It would almost be criminal if they did.

I know I'm sounding like a scratched record, but the problem, if there is one, may be nothing to do with LCFC......

 

[drew]

Are you telling us its not a LCFC problem or is that your opinion?

 

[Real Sharapova]

Are you telling us its not a LCFC problem or is that your opinion?

No idea, I'm merely saying if there is a hold up/problem it may be down to MM, not the club.

 

[alex]

No idea, I'm merely saying if there is a hold up/problem it may be down to MM, not the club.

Could be, although The Times seems to think otherwise.

 

[Leigh]

Setback?
by Bill Anderson

Milan Mandaric's takeover of Leicester City appears to have suffered a setback after reports that considerable extra debts have surfaced.

On Saturday, a club source was said to have informed Radio Leicester that the process was not going as smoothly as had been hoped, and the suggestion was that some shareholders wanted better terms for their shares.

However, it is now understood that Mandaric's representatives are unhappy with what has been revealed in the due diligence procedure, in which the club's accounts are scrutinised, notably a higher level of debt than had been disclosed initially.

This development could have a significant effect on the final bid, which has not yet been technically lodged, and further negotiations may be needed.

Under takeover rules, neither City nor Mandaric are allowed to comment publicly on the way the deal is progressing, which makes the leaked information from the Walkers Stadium all the more surprising, not to mention highly irregular.

The £25 million takeover has already been agreed in principle, but fears that Mandaric might be going cold on the deal were not eased when he did not watch Saturday's win over Barnsley as expected.

However, the notion that the takeover is dead is not the case, only that it might take longer than anticipated, but hopefully still in time for City boss Robert Kelly to receive transfer funds for the January transfer window.

Mandaric is known to be impatient to get to grips with the job of revitalising the club, whose potential was shown by the 30,000-plus crowd for Saturday's win against Barnsley.

City fans are eager to welcome the investment, but there are misgivings among supporters that something might go wrong and that this golden opportunity could be lost.

This latest development of added debt showing up will not ease their minds, but does put extra pressure on the board and shareholders to get it sorted out as quickly as possible.

link

Merc still convinced it's £25m takeover...

 

[Polar Bear]

The possibility has been aired before that he still owns a controlling interest in Portsmouth. That would derail the whole thing.

 

[alex]

If this deal falls through, get ready for an extremely rocky ride people.

 

[Real Sharapova]

I see MM's mouthpiece is suggesting MM has found a higher level of debt than had been disclosed initially. Bearing in mind that nothing would have been disclosed to him until LCFC allowed him due dilligence, this appears to be spin by MM to try to get his overall offer down ( maybe also involving less investment in the playing squad ?). Could this be anything to do with the £8 million still allegedly owed to him by Gaydmard re the Pompey sale?

 

[Yorkshire Vixen]

I see MM's mouthpiece is suggesting MM has found a higher level of debt than had been disclosed initially. Bearing in mind that nothing would have been disclosed to him until LCFC allowed him due dilligence, this appears to be spin by MM to try to get his overall offer down ( maybe also involving less investment in the playing squad ?). Could this be anything to do with the £8 million still allegedly owed to him by Gaydmard re the Pompey sale?

that would all tie in nicely if its the case...

 

[bocadillo]

I see MM's mouthpiece is suggesting MM has found a higher level of debt than had been disclosed initially. Bearing in mind that nothing would have been disclosed to him until LCFC allowed him due dilligence, this appears to be spin by MM to try to get his overall offer down ( maybe also involving less investment in the playing squad ?). Could this be anything to do with the £8 million still allegedly owed to him by Gaydmard re the Pompey sale?

The Mercury quoted their informant as being a "club source". It seems unfair of you to suggest that it is MM who is doing any 'mouthpiecing'.

 

[Dour]

I see MM's mouthpiece is suggesting MM has found a higher level of debt than had been disclosed initially. Bearing in mind that nothing would have been disclosed to him until LCFC allowed him due dilligence, this appears to be spin by MM to try to get his overall offer down ( maybe also involving less investment in the playing squad ?). Could this be anything to do with the £8 million still allegedly owed to him by Gaydmard re the Pompey sale?

Quite so. And presumably MM or one of his team are capable of reading a set of accounts from Companies House and you'd have thought they'd be prepared to cough up a quid for a look before even starting talks. And the debt is pretty clear there...

 

[1966]

From what I heard on Saturday MM hasn't got the money to complete the deal and is finding it difficult to raise it on the trems he is looking for.

 

[Real Sharapova]

The Mercury quoted their informant as being a "club source". It seems unfair of you to suggest that it is MM who is doing any 'mouthpiecing'.

Ah, the Mercury, the voice of truth and reason. They can hardly say it's information from an MM source if it was, which is my suspicion. To paraphrase Mandy Rice-Davies " they would say that, wouldn't they ".

 

[bocadillo]

Quite so. And presumably MM or one of his team are capable of reading a set of accounts from Companies House and you'd have thought they'd be prepared to cough up a quid for a look before even starting talks. And the debt is pretty clear there...

If the state of a company could be assessed simply by looking at a set of accounts from Companies House, there would never be a need to do "due diligence". The fact that 'due diligence' is done clearly means that yearly accounts can not be relied upon to show the whole picture.

I am sure that MM would have been well aware of what the annual accounts disclosed - it is inconceivable that he would have spent money and time on persuing a bid if he had not. If 'due diligence' is showing the club in a different light, this should be a matter for greater concern - not only for MM but for everybody who has an interest in the club.

 

[highland fox]

Seems a lot of people have all heard a lot of different things.The truth is maybe that nobody knows and we will just have to wait.

 

[Melton Fox]

I see MM's mouthpiece is suggesting MM has found a higher level of debt than had been disclosed initially. Bearing in mind that nothing would have been disclosed to him until LCFC allowed him due dilligence, this appears to be spin by MM to try to get his overall offer down ( maybe also involving less investment in the playing squad ?). Could this be anything to do with the £8 million still allegedly owed to him by Gaydmard re the Pompey sale?

Shazza, why are you determined to paint MM and the Mercury in the bad light and continually suggest the innocence of our club in all of this.

We are all fully aware that our club has been run by amateurs, it would certainly be no shock for me if MM found things he didn't like during Due Dilliegence.

I'm not dissing your opinions, I'm just curious as to whether you know more than you are letting on because you seem to be trying to get a message across to us without saying the words

 

[Yorkshire Vixen]

If the state of a company could be assessed simply by looking at a set of accounts from Companies House, there would never be a need to do "due diligence". The fact that 'due diligence' is done clearly means that yearly accounts can not be relied upon to show the whole picture.

I am sure that MM would have been well aware of what the annual accounts disclosed - it is inconceivable that he would have spent money and time on persuing a bid if he had not. If 'due diligence' is showing the club in a different light, this should be a matter for greater concern - not only for MM but for everybody who has an interest in the club.

definately!!! be interesting to know the size of the debt