Cats, pigeons and Teacher's....

[Real Sharapova]

But, they can refuse to transfer the stadium debt that the current business owes them over to Mandaric, which would scupper any deal, as I think in that situation Mandaric could still take over the club, but the current shareholders/board would still be having to pay off the stadium debt?

TBH that would be unworkable. If he takes over, he takes over lock, stock and barrell, and that includes all debts. Of course, he could find another lender to clear the Teacher's debt, but that's easier said than done.

 

[Graz]

TBH that would be unworkable. If he takes over, he takes over lock, stock and barrell, and that includes all debts. Of course, he could find another lender to clear the Teacher's debt, but that's easier said than done.

Yeah sorry, I wasn't suggesting that as a way around it as some sort of alternative, I was just saying that the takeover could go through without Teachers agreeing to transfer the debt, but it's just something that nobody would agree to.

Or are you saying it wouldn't even be allowed to go through without Teachers permission?

 

[Durham Fox]

Looks likely Teachers share is a golden one to me.

Awaits edits.

 

[Real Sharapova]

Yeah sorry, I wasn't suggesting that as a way around it as some sort of alternative, I was just saying that the takeover could go through without Teachers agreeing to transfer the debt, but it's just something that nobody would agree to.

Or are you saying it wouldn't even be allowed to go through without Teachers permission?

If Teacher's were to be paid off - no problem. If MM wanted to take over the Teacher's debt, then they can say yes or no, and that would be dependant on what they thought of his business plan. As I said in the first post, this might be a problem.

 

[Real Sharapova]

Looks likely Teachers share is a golden one to me.

Awaits edits.

I really don't think so - it's not mentioned in the accounts, and surely the other shareholders would have been aware if it were the case.

 

[Durham Fox]

I really don't think so - it's not mentioned in the accounts, and surely the other shareholders would have been aware if it were the case.

You might be right.

 

[western road]

I may be a thicko due to my advancing years but I cant see a reason for this as if L.C.F.C WENT DOWN THE PAN
what would Teachers get back from the sale of the Walkers
I suggest nowhere near what they are owed for the Stadium.
It is no of use without the football club and would be sold for the area of space it occupies which surely would amount to no more than £2 million if that.

 

[fitz]

I may be a thicko due to my advancing years but I cant see a reason for this as if L.C.F.C WENT DOWN THE PAN
what would Teachers get back from the sale of the Walkers
I suggest nowhere near what they are owed for the Stadium.
It is no of use without the football club and would be sold for the area of space it occupies which surely would amount to no more than £2 million if that.

filbert street was sold for around £6m or something stupid like that. the car park at the walkers would also be included unlike filbo so i'd imagine there'd a reasonable price but nothing near what we'd pay back over time in capital repayments.

 

[Real Sharapova]

I may be a thicko due to my advancing years but I cant see a reason for this as if L.C.F.C WENT DOWN THE PAN
what would Teachers get back from the sale of the Walkers
I suggest nowhere near what they are owed for the Stadium.
It is no of use without the football club and would be sold for the area of space it occupies which surely would amount to no more than £2 million if that.

You are not a thicko WR! If my unsubstantiated rumour is correct Teacher's have a choice - stick with boring old LCFC who probably will not go down the pan or go with MM's possibly more risky business strategy. That is where the problem may lie at the moment, with Teacher's perhaps staying with the devil they know.

 

[Jeff]

I may be a thicko due to my advancing years but I cant see a reason for this as if L.C.F.C WENT DOWN THE PAN what would Teachers get back from the sale of the Walkers

But Teachers might think there's more chance of the club getting into financial trouble if MM takes over, if his plans involve increasing the club's debt.
As long as they get their payments they don't care how the club is doing on the pitch, they may be happier for the club to continue as it is currently, than to go into more debt for the chance of success.

 

[gloucesterfox]

I may be a thicko due to my advancing years but I cant see a reason for this as if L.C.F.C WENT DOWN THE PAN
what would Teachers get back from the sale of the Walkers
I suggest nowhere near what they are owed for the Stadium.
It is no of use without the football club and would be sold for the area of space it occupies which surely would amount to no more than £2 million if that.

But there are other assets, the training ground, I'm not sure if the players would be free agents or the creditors could sell their registrations. I doubt they would get back what they were owed in the doomsday scenario but the negotiations would be a very high stakes poker game.

I think that even if they don't have a "golden share" the teachers would effectively have a veto over any takeover unless the person coming in was willing to lend the club the money to pay it off before the takeover. In reality they would be mad not to allow the payoff to be part of the takeover or to allow the takeover to go ahead if it, in their view, left the club stronger. But their view may well not be the same as our view as supporters and they could well be worried to see the club take on more debt.

That link on the word p0ker was not put in by me it was an add put in automatically by the bulletin board!

 

[Chrysalis]

feck me thats what I have been saying all along, but most seem to think buying the stadium was the be all and end all of everything. I could not see a good business reason why he needed to buy the ground anyway

long term it gets rid of interest payments and provides real assets which should pay off when selling the club, but short term little benefit.

 

[OldGit]

The short term benefit is the one that has been discussed in this thread (and several others over recent weeks)- if you no longer have a powerful creditor and a rigid "mortgage" structure which reduces flexiblity in your wider finances then you have more freedom to take a whole variety of decisions. I assume what MM dislikes (ASSUMING THIS SCENARIO IS TRUE!!) was the stranglehold they have, as a result of the post-admin set-up, over any other form of debt.

 

[Feriol]

if Mandaric takes over New Fox PLC then the teachers agreement doesn't change. The company will be on the mortgage, not the person who owns the company.

Presumably MM want to wind up New Fox plc once he's in, but if teachers didn't let him transfer the debt, he could keep it running until the debt are dealt with or transfered. gets a bit messy, but would solve the problem, and prevent teachers having a say in it.

i expect the problem isn't the debt, but the assets that may be tied up for security, if things went sour for MM Teachers would get everything, and he couldn't get any of his money back.

 

[Durham Fox]

if Mandaric takes over New Fox PLC then the teachers agreement doesn't change. The company will be on the mortgage, not the person who owns the company.

Presumably MM want to wind up New Fox plc once he's in, but if teachers didn't let him transfer the debt, he could keep it running until the debt are dealt with or transfered. gets a bit messy, but would solve the problem, and prevent teachers having a say in it.

Very true BUT Teachers are a shareholder.

 

[Feriol]

Very true BUT Teachers are a shareholder.

with enough shares he could compulsary buy them. they are harmless as shareholders. the problem i think, is what i stated in my previous posts edit

 

[Melton Fox]

I'm even more bored now

 

[homer]

I'm even more bored now

What you need is a new set of radials

I've got some in my car if you want to take a look....

 

[Durham Fox]

with enough shares he could compulsary buy them. they are harmless as shareholders. the problem i think, is what i stated in my previous posts edit

but far from harmless if they have a 'golden share'

 

[alex]

I'm even more bored now

Whatever....