Bbc

[Jeff]

LCFC had a squad with a lot of premiership experience. MM was never going to do it with the squad he inherited at Pompey.

MM spent a lot of money at Portsmouth without any success - he had relegation battles instead. He only had success when he appointed Redknapp as manager. The success at Portsmouth was more to do with the manager than with the chairman. Maybe the same thing could happen here if he appoints the right manager, but I think too many people are assuming that MM coming in would automatically make us successful. There's a danger people will expect too much and will get on the players' / manager's / chairman's back if success doesn't happen quickly.

 

[drew]

There is also the danger that with the current board we continue the slide and the premiership moves further away from us.

I think with 2/3 key signings we will have a good squad.

If the MM deal falls through i expect the board to come in with the cash for these players.

 

[Granite Fox]

If MM taking on the Teachers debt (or refinancing it) can be included in the £25m figure then it should also be included in the shareholders figure

FFS. No it shouldn't. The current investors put up £6m for the club, BUT, neither they, or the club owns the stadium. MM is putting up whatever the figure might be, (lets say, for the sake of arguement £25m perhaps £3m for shareholders, £19m to buy the stadium, and £3m for whatever manager happens to be here to buy a player or 12) and that will/might include the cost of buying back the stadium from Teachers, so that as/if/when he sells the club in the future (assuming that there are no future debts secured on the ground), the cost of the club will include the cost of the stadium. at the moment, the club is worth £6m, this time next year it will be worth (maybe) £20m+ as it will own its own ground.

At what point has it ever been stated that MM will buy the stadium? Could you include your source or stop making assumptions.

I think that would be a poor use of any funds he wants to put into the club - we need new players and as some believe a new manager as well. Most believe that he will take on the debt for the stadium, either the current one from Teachers or arrange more favourable finance somewhere else and pay Teachers off.

The truth is none of us know until the deal is put on the table and clearance is given to communicate the details.

Not sure if the FT can elaborate further??

 

[Granite Fox]

Apologies - the FT, Boc etc had already replied to my post last night!

The Board have pulled us out of admin and steadied the ship (OK in an uninspiring way) and look likely to seal new investment in the club to take us forward.

What more could we ask for?

A much better result than the Board of Elsom, the Gang of Four etc, achieved. They were lucky to get MON on board and very nearly cocked that up with in-house fighting.

If the MM deal goes through and ultimately proves good for the club then we have a lot to thank the Board for (despite some issues and niggles we may all have with them) - they would have achieved their brief of survival, consolidation and new investment.

 

[Melton Fox]

The Board have pulled us out of admin and steadied the ship (OK in an uninspiring way) and look likely to seal new investment in the club to take us forward.

If this is the final scenario, then I'll take my hat off to the board for saving our club.

If it doesn't I'll just blame them for delaying our death and getting in excess if £3,000 of my money over the last 4 years in Season Tickets, match tickets, merchandise etc and making me watch shit football with uninterested players whilst the ship was going down.

 

[Redditch Fox]

Apologies - the FT, Boc etc had already replied to my post last night!

The Board have pulled us out of admin and steadied the ship (OK in an uninspiring way) and look likely to seal new investment in the club to take us forward.

What more could we ask for?

A much better result than the Board of Elsom, the Gang of Four etc, achieved. They were lucky to get MON on board and very nearly cocked that up with in-house fighting.

If the MM deal goes through and ultimately proves good for the club then we have a lot to thank the Board for (despite some issues and niggles we may all have with them) - they would have achieved their brief of survival, consolidation and new investment.

Agree with all that!

I think the penny has dropped even with the FT that the above is the only strategy available. I also agree with the point made by Jeff that a further danger is over-expectations in the event of an MM takeover.

I remain pessimistic that the takeover will occur - because LCFC always seem to mess up - but if it does then I think the long term future can be extremely good. I think the way the attendances have held up is pretty remarkable given not only the poor results but as Melton keeps on saying the sheer lack of entertainment. That said when it comes down to it, how great is the standard of football in the Premiership outside the top four or so? Most of the televised games I see are drear in the extreme.

 

[Durham Fox]

We need this deal to go through to stop thousands of season ticket holders walking away at the end of the season and sending the club in to an even quicker downward spiral. The suppoerters need the hope that this deal brings, sad but true.

 

[BOB HAZELL]

If the MM deal falls through i expect the board to come in with the cash for these players.

Really........!!?? On what basis/evidence...?

 

[BOB HAZELL]

If the MM deal goes through and ultimately proves good for the club then we have a lot to thank the Board for (despite some issues and niggles we may all have with them) - they would have achieved their brief of survival, consolidation and new investment.

Fair call, GF.

Despite my obvious disregard for certain factions, I agree, they will have achieved their initial goal.

 

[drummindefender]

whats the latest situation on this saga then?

 

[drew]

When i say expect i mean I HOPE. I'm not stating that they will. Merely saying that if this goes tits up to ease the fans they should put money in.

 

[Chrysalis]

But it would be secured on the assets of the club, so the situation is no different to what pertains now, the name of the lender has changed, that's all. An extra £15 million hasn't suddenly appeared in the coffers of the club.

If he is shifting debts bear this in mind.

He is taking it on in his name so the amount 15million in your example is him as guarantor.

I would expect the payments would change possibly from a reduced interest rate and different payment terms. Should during transfer windows for example the club wants extra cash MM could choose to defer payments for the stadium to generate cash.

 

[Chrysalis]

But the fact remains that all the debt will be secured on the club - if his plans do not work out here comes administration again, the lenders will want their money back somehow. I suppose I could support Hinckley Town once LCFC has been consigned to the dustbin of history.

Do you think losing multi millions a year right now and possible relegation we are not heading for admin again with the current board?

 

[Chrysalis]

"Everybody recognises that there is a difference"

If it only it was, at every game since the £25m figure was first published, at least one FT board member has had to explain to fans at the game that we aren't getting £25m cash.

Message board posters get plenty of chance to read otherwise & the vast majority understand, the problem is with the Mercury readers who have no other source of info & are hooked on to MM's rod dangled every day by Mr Anderson.

We find we are constantly have to re-address BA's articles of PR, which can be taken as the FT being anti the bid, which as you picked up earlier today depending on what the final offer is, we probably won't be as our decision will be based on the bid content compared to the alternatives and the level of risks associated with each.

Why address it? let people dream its 25million whats the harm? unless you anti takeover that is.

 

[Jeff]

Why address it? let people dream its 25million whats the harm?

So you think it's right for people to be fed inaccurate propaganda - with no one challenging it?

:icon_roll

 

[Chrysalis]

Who says the club will own the ground in a year?

The speculation so far is that either MM will take over the existing loan, or the loan will be refinanced with another company. In neither of those cases will the club own the ground - and it wouldn't make sense for any new investor looking to get promoted to spend money on the stadium, it would be much more effectively spent strengthening the team.

MM will be taking on the stadium debt - in the same way the existing shareholders did - but he'll also be taking over significant assets. In terms of the value of the club they largely cancel each other out, it's nonsense to include the stadium debt in the value of the takeover.

So to confirm.

Will MM need to be personally liable for the stadium debt to complete the takeover either by purchasing it and then reloaning city the money or by acting as garuantor to keep teachers happy?

Did the current shareholders have to do the above?

 

[Jeff]

So to confirm.

Will MM need to be personally liable for the stadium debt to complete the takeover either by purchasing it and then reloaning city the money or by acting as garuantor to keep teachers happy?

Did the current shareholders have to do the above?

If MM is taking on the stadium debt he's doing no more than the current board did when they took over. In fact the total debt - including player contracts, money owed to the inland revenue etc was over £40 million when the current shareholders took over.
MM will not be personally liable for this debt, if the only way the takeover could go ahead was if he personally became a guarantor I think it's unlikely he'd go ahead with it, too much risk for him to take on. Most businessmen prefer to take risks with other people's money as much as possible, not with their own.

 

[Chrysalis]

It took him four years to get promoted.

Our current board did it in only a few months :icon_wink

nice answer although I think they shouldnt get credit for that promotion.

What have they achieved in their 4 full seasons at city?

 

[Chrysalis]

MM spent a lot of money at Portsmouth without any success - he had relegation battles instead. He only had success when he appointed Redknapp as manager. The success at Portsmouth was more to do with the manager than with the chairman. Maybe the same thing could happen here if he appoints the right manager, but I think too many people are assuming that MM coming in would automatically make us successful. There's a danger people will expect too much and will get on the players' / manager's / chairman's back if success doesn't happen quickly.

Ahh so we should keep our current board to keep expectation levels down?

 

[Chrysalis]

So you think it's right for people to be fed inaccurate propaganda - with no one challenging it?

:icon_roll

Happens every day in all the papers in various stories.

The current shareholders invested 6million, how much of that 6 million is not recuparated eg. by board members who get paid by the club.