Deal done this week....

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I also failed to mention the 7 million that needs paying off - a non payment would lead us once again to the big A

something the board are fully aware of...

so Milan or bust?

All aboard!
 
Michael_J_Fox said:
"People who would hand the club over to MM without knowing his plans are the blinkered ones"

The board of directors and the share holders who vote for this deal are not blinkered - many are successful businessmen and women - it is they who have chosen to give it the nod - so we must trust their judgement here. It's all very well saying that - yeah but he appointed rubbish managers and he might sell the traning ground (so what??!!) - but the fact remains that at his point in time we are going nowhere but the lower divisions - with MM we are guaranteed money and knowledge of running a football club. something other teams in our position would bite his hands off for. And if it means a revolving door until he gets the right man for the club then so what??! the fact is that he wants to get us up and he has the tools to do this. The people in charge right now clearly don't! I'm looking forward to the MM rollercoaster ride! Come on - jump aboard and let's see what happens.
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Bill, shouldn't you be writing the Mockery about now?
 
OK, I remember a while back when we entered the dark days of administration, we were allowed the deferment of tax as the football club entered administration until the club either folded or was purchased. This has to be paid back in full by the new owners, they would have known of this, I'm wondering if the unpaid tax which was owed still 3 years on, yet not paid by the new board is the final hurdle that needed to be overcome.

Maybe this is why the Chairman resigned along with J.Johnson. etc....

Yes this would cause huge implications if MM wasnt prepared to pay this (having found this unknown debt that was a millstone around the clubs neck).

Maybe this is why he has revised his offer and the reasons why this whole sorry saga is taking so long.

Of course offering a smaller amount for your shares must be better than held responsible for fraud as this is what it would have been if left unpaid.

HMMMMMMM..............

whats the odds on this being right?
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This came up somewhere on the forum a while back. The response was, as I recall, that the Tax repayment clause expired after 2 years
 
:icon_lol: ;) the new city manager


Portugal boss Luiz Felipe Scolari has admitted he would like to work in England in the future.

Scolari came close to succeeding Sven Goran Eriksson as England coach last year before pulling out of the move because of the media scrutiny he found himself under.

The Brazilian World Cup winner is currently in England with Portugal as he prepares them for a glamour friendly with his home nation and he admits he is attracted by the possibility of working in England.

"I would like to work in England," said Scolari.

"The involvement from everyone in the game is spectacular. It is a country which is very interested in football and any coach would want to work there.

"I have trained in Japan, Arabia, Kuwait, Brazil and Portugal and can adapt to any place. It depends on the proposal and offer that is made to me, the financial rewards and the standard of living.

"I have a contract with Portugal and want to help them qualify for the Euro 2008 finals, but if we don't manage to achieve that, it will not be a good situation.

"After that period I want to remain in Europe for another four or five years because my family are stable.

"I don't know where I will go in the future."
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Michael_J_Fox said:
I also failed to mention the 7 million that needs paying off
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Eh? What on earth are you on about? If you are referring to the agreement with the Inland Revenue at the time of administration, payment was dependent on results and a defined period of time, which has now expired. I believe the maximum we would have been in for was 40p in the pound of which I think 20p in the pound has been paid. The original debt to the Inland Revenue was nothing like £7 million either.
 
Michael_J_Fox said:
I also failed to mention the 7 million that needs paying off - a non payment would lead us once again to the big A

something the board are fully aware of...

so Milan or bust?

All aboard!
Click to expand...

THis is complete rubbish as confirmed to me at the weekend.

MM will have to pay a total of £4million up front and then will have to find £1.5million over the summer to balance the books for the new season (although I would think he would give money to our manager for players as well).

This £1.5 is what the club would have had to find as well and would have been done by selling players as per previous posts.

I would expect MM to bring in an experienced manager with RK to be kept on as a coach which is what he wants anyway although this will be down to the new manager's disgression.

I would also imagine that MM considers a couple of proven players are needed to bolster the team, perhaps a centre midfielder or two or a centre forward.

However, even if MM doesn't get in, the club would not be expected to go into admin as there has been bids and continued interest in a number of our players who would easily raise the money needed and therefore balance the books.
 
Dunc said:
THis is complete rubbish as confirmed to me at the weekend.

MM will have to pay a total of £4million up front and then will have to find £1.5million over the summer to balance the books for the new season (although I would think he would give money to our manager for players as well).

This £1.5 is what the club would have had to find as well and would have been done by selling players as per previous posts.

I would expect MM to bring in an experienced manager with RK to be kept on as a coach which is what he wants anyway although this will be down to the new manager's disgression.

I would also imagine that MM considers a couple of proven players are needed to bolster the team, perhaps a centre midfielder or two or a centre forward.

However, even if MM doesn't get in, the club would not be expected to go into admin as there has been bids and continued interest in a number of our players who would easily raise the money needed and therefore balance the books.
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Thanks for the info, Dunc :)
 
Dunc said:
THis is complete rubbish as confirmed to me at the weekend.

MM will have to pay a total of £4million up front and then will have to find £1.5million over the summer to balance the books for the new season (although I would think he would give money to our manager for players as well).

This £1.5 is what the club would have had to find as well and would have been done by selling players as per previous posts.

I would expect MM to bring in an experienced manager with RK to be kept on as a coach which is what he wants anyway although this will be down to the new manager's disgression.

I would also imagine that MM considers a couple of proven players are needed to bolster the team, perhaps a centre midfielder or two or a centre forward.

However, even if MM doesn't get in, the club would not be expected to go into admin as there has been bids and continued interest in a number of our players who would easily raise the money needed and therefore balance the books.
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Your points, although all valid, still point to us being in admin unless we sell our best assetts or receive a takeover though am I right?

This is what I understood. Williams/Douglas/De Vries off the books would help.
 
alex said:
Your points, although all valid, still point to us being in admin unless we sell our best assetts or receive a takeover though am I right?
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Not in the short to medium term, as the club is drawing down on the reserves, and the rumoured losses are not massive. However, the point is player sales would take place to avoid admin anyway, but hopefully that will not be necessary as the club would continue to look for furher investment if MM fell through - they know that is the optimum plan.
 
alex said:
Your points, although all valid, still point to us being in admin unless we sell our best assetts or receive a takeover though am I right?

This is what I understood. Williams/Douglas/De Vries off the books would help.
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Bottom line is that without MM or another investor then we would be as most clubs in this division find that they have to sell players to balance books.

There aren't many clubs that avoid this scenario and LCFC have been a selling club for the majority of its history.
 
If we have to sell our better players then it would make us a weaker team resulting in there being a greater chance of us being relegated.If we are relegated not only would mean attendances would go down but would we not become less attractive for any other potential buyers?
 
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highland fox said:
If we have to sell our better players then it would make us a weaker team resulting in there being a greater chance of us being relegated.If we are relegated not only would mean attendances would go down but would we not become less attractive for any other potential buyers?
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Its all irrelavant cause the deal is going through by Friday anyway so we may as well look to the excitement a new 'experienced' manager will bring along with a couple of players.
 
Dunc said:
Its all irrelavant cause the deal is going through by Friday anyway so we may as well look to the excitement a new 'experienced' manager will bring along with a couple of players.
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:eek:

Are we sure ??
 
Dunc said:
Sure its going through, as sure as you can be its done by the end of the week apparently, unless lawyers want to make a bit more money.
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Could you let me know if Bears shit in the woods, please, Dunc ?
 
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