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Redditch Fox said:
Yes - that's really great to hear that Leicester City Football Club are basically around average financial strength in the second tier of English football.

I am immensely cheered by that news together with the fact that the club has such intelligent rules that more or less preclude any individual investment significant enough to move the club forward.

I am sure that the FT is right in thinking that we would all prefer the present set up rather than the opportunity for any overly ambitious individual to selfishly pursue any pot hunting or that sort of stuff.

I think its much better for the FT and the rest to have a strong voice in the boardroom than the club to win football matches.
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What does everyone expect of our financial situation?!?!?

WE JUST GOT OUT OF ADMINISTRATION! We came within a whisker of not existing anymore.

No one said we were going to fix this whole situation over night. These things take time! That we are competative at all should be viewed as a blessing!

The worst possible thing we could do now is jump nto bed with just any old tycoon. The thought of some asset stripping b*stard running the show frightens me.

I do agree that if there were sensible offers from people who wanted to progress WITH the club, and genuinely cared about it as a project, then these offers should be considered.
 
Redditch Fox said:
I am immensely cheered by that news together with the fact that the club has such intelligent rules that more or less preclude any individual investment significant enough to move the club forward.

I am sure that the FT is right in thinking that we would all prefer the present set up rather than the opportunity for any overly ambitious individual to selfishly pursue any pot hunting or that sort of stuff.

I think its much better for the FT and the rest to have a strong voice in the boardroom than the club to win football matches.
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The rules aren't there to stop the club going forward. The rules were put in place to stop one individual going in and taking over and ruining the club. That's happened to more clubs than the Abramovich situation. A lot of people have taken over clubs with talk of investing in the team etc, but have ended up asset stripping and leaving the club in a mess. After what we went through with administration it was only sensible to put rules in place to stop this kind of thing happening at a time when the club was vulnerable to this kind of takeover.

I'm sure if someone comes in with money to invest, and can prove that he's doing it for the right reasons the current board will listen and act in the best interests of the club.

And if there really is a genuine Leicester fan with pots of money to put into the club, where were they when we were in administration?
 
webmaster said:
The rules aren't there to stop the club going forward. The rules were put in place to stop one individual going in and taking over and ruining the club. That's happened to more clubs than the Abramovich situation. A lot of people have taken over clubs with talk of investing in the team etc, but have ended up asset stripping and leaving the club in a mess. After what we went through with administration it was only sensible to put rules in place to stop this kind of thing happening at a time when the club was vulnerable to this kind of takeover.

I'm sure if someone comes in with money to invest, and can prove that he's doing it for the right reasons the current board will listen and act in the best interests of the club.

And if there really is a genuine Leicester fan with pots of money to put into the club, where were they when we were in administration?
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Great minds think alike mr webmister...so now where is the hall of fame award for being the worlds No.1 V.bookie winner!:icon_bigg :icon_wink
 
SilverFox said:
so now where is the hall of fame award for being the worlds No.1 V.bookie winner!:icon_bigg :icon_wink
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What kind of award would you like, other than seeing your name in the hall of fame?

And you only won vBookie by accident, because you repeated a bet by mistake :icon_roll
 
webmaster said:
What kind of award would you like, other than seeing your name in the hall of fame?

And you only won vBookie by accident, because you repeated a bet by mistake :icon_roll
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Still won it though good sir:icon_lol:

Just want to see my name in the hall of fame! Never won any bloody thing else on this site!:icon_sad: (*it helps at this stage if you imagine very sad violin music*:icon_wink )
 
SilverFox said:
Still won it though good sir:icon_lol:

Just want to see my name in the hall of fame! Never won any bloody thing else on this site!:icon_sad: (*it helps at this stage if you imagine very sad violin music*:icon_wink )
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Your name is already in the hall of fame :confused:
 
There has to be a sense of reality, we had our season in the sun, spent 20+ million pounds and ended up on the verge of extinction, we have to realise that is very unlikely we are going to attract a sugar daddy, especially one with the best interests of the club at heart.

Whilst the board do make many mistakes and often baffle me with their decision making, I do hold a great deal of respect for them, they were the people who came in and saved the club, they meant we still had a football
club to support.

Whilst they are certainly not beyond criticism they have managed to run a fairly tight ship and have provided the previous 2 managers with more than a sufficient budget to at least have the club challenging for the top 6. The league position is not something that can be levelled at the board, yes they did appoint Levein, but many fans agreed with that decision at the time.

I am sure that if the right investment came along the board will allow the club to move on, as long as the long term interests of the club were not put in jeopardy. The truth is we are not an attractive propostition and as others have stated nobody seems to be putting their money where there mouth is.
 
PFKAKTF FOX said:
There has to be a sense of reality, we had our season in the sun, spent 20+ million pounds and ended up on the verge of extinction, we have to realise that is very unlikely we are going to attract a sugar daddy, especially one with the best interests of the club at heart.

Whilst the board do make many mistakes and often baffle me with their decision making, I do hold a great deal of respect for them, they were the people who came in and saved the club, they meant we still had a football
club to support.

Whilst they are certainly not beyond criticism they have managed to run a fairly tight ship and have provided the previous 2 managers with more than a sufficient budget to at least have the club challenging for the top 6. The league position is not something that can be levelled at the board, yes they did appoint Levein, but many fans agreed with that decision at the time.

I am sure that if the right investment came along the board will allow the club to move on, as long as the long term interests of the club were not put in jeopardy. The truth is we are not an attractive propostition and as others have stated nobody seems to be putting their money where there mouth is.
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:038: :038: :038:

Equally, we couldn't levvy the blame at them if RK fails. The pressure on them to appoint him was massive
 
webmaster said:
The rules aren't there to stop the club going forward. The rules were put in place to stop one individual going in and taking over and ruining the club. That's happened to more clubs than the Abramovich situation. A lot of people have taken over clubs with talk of investing in the team etc, but have ended up asset stripping and leaving the club in a mess. After what we went through with administration it was only sensible to put rules in place to stop this kind of thing happening at a time when the club was vulnerable to this kind of takeover.

I'm sure if someone comes in with money to invest, and can prove that he's doing it for the right reasons the current board will listen and act in the best interests of the club.

And if there really is a genuine Leicester fan with pots of money to put into the club, where were they when we were in administration?
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1. As you hint, any proposals would obviously be subject to a 'due diligence' scrutiny.

2. The fact that there were no major investors at the time of administration has no bearing on whether there might be in the future and IMO the rules are an impediment to that happening.

I take the view that the club will not make any significant progress - and might sink further - without further financial backing. I may be wrong on that but I don't think I am. Of course, there will always be some people who will be reasonably content whatever the situation particularly if they feel some sort of ownership. Its something like the sentiments expressed by the parents of Pinnochio....."a poor child, but our own!.
 
Also, I personally would rather support a relatively honest club than one bankrolled by some chap who has made out like a bandit asset-stripping and spiriting away resouces from somewhere in the Former Soviet Union. Whether it's Romanov or Abramovich, where did that cash come from and what, ultimately, are they doing with it?! The phrase 'money-laundering' springs to mind... or would if their activities weren't, apparently, legal. The phrase 'Laws are made for rich men' has rarely seemed so apt.

Anyway, we only have to look up the road to Derby to see what unaccountable 'investors' can do for you. I think our constitution is both necessary and sensible.
 
Redditch Fox said:
Yes - that's really great to hear that Leicester City Football Club are basically around average financial strength in the second tier of English football.

I am immensely cheered by that news together with the fact that the club has such intelligent rules that more or less preclude any individual investment significant enough to move the club forward.

I am sure that the FT is right in thinking that we would all prefer the present set up rather than the opportunity for any overly ambitious individual to selfishly pursue any pot hunting or that sort of stuff.

I think its much better for the FT and the rest to have a strong voice in the boardroom than the club to win football matches.
Click to expand...

Presumably you would prefer periodic fights for basic survival and the occasional 10 point deduction.
 
Redditch Fox said:
The fact that there were no major investors at the time of administration has no bearing on whether there might be in the future and IMO the rules are an impediment to that happening.
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There were major investors at the time of administration - the present shareholders who dug into their pockets to satisfy the creditors that some money on the table is better than bugger all. If they did not invest at that time I have my doubts as to whether we would be arguing the toss about LCFC at all - we could be arguing about what a nice retail park had replaced our ground. The rules are no impediment to a sugar daddy coming in - even under the old constitution as a PLC, any potential investor would have to buy out the majority of investors, and if he/she wanted to own 100% of the club. they would have had to persuade 90% of the shareholders to agree to the takeover before he/she could force the other 10% to relinqiush their shares.
 
Real Sharapova said:
There were major investors at the time of administration - the present shareholders who dug into their pockets to satisfy the creditors that some money on the table is better than bugger all. If they did not invest at that time I have my doubts as to whether we would be arguing the toss about LCFC at all - we could be arguing about what a nice retail park had replaced our ground. The rules are no impediment to a sugar daddy coming in - even under the old constitution as a PLC, any potential investor would have to buy out the majority of investors, and if he/she wanted to own 100% of the club. they would have had to persuade 90% of the shareholders to agree to the takeover before he/she could force the other 10% to relinqiush their shares.
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The rules are no impediment to a sugar daddy coming in *if* he doesn;t want a stake in the running of the club. Sure, a sugar daddy can come along and say, "here's £10M, £20M" (or whatever) - but he can't get a stake of more than 5% of the club under the current rules.

Who is going to throw money in if they have no right to a say in how it is spent?
 
bocadillo said:
The rules are no impediment to a sugar daddy coming in *if* he doesn;t want a stake in the running of the club. Sure, a sugar daddy can come along and say, "here's £10M, £20M" (or whatever) - but he can't get a stake of more than 5% of the club under the current rules.

Who is going to throw money in if they have no right to a say in how it is spent?[/quote]

a leicester city fan :102: :102: ;)
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newtonfox said:
bocadillo said:
The rules are no impediment to a sugar daddy coming in *if* he doesn;t want a stake in the running of the club. Sure, a sugar daddy can come along and say, "here's £10M, £20M" (or whatever) - but he can't get a stake of more than 5% of the club under the current rules.

Who is going to throw money in if they have no right to a say in how it is spent?[/quote]

a leicester city fan :102: :102: ;)
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Never, it is one thing being a City fan but any business man will not put money in just for that reason, he will want a great deal of input.
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