Due Dilligence

[Melton Fox]

Any news?, any rumours?

The "insiders" appear to have all gone quiet, is there nothing to report?. The FT have also gone quiet, do you guys know anything you're not allowed to tell us?

What's happening?, I expect MM to have his men on the job 24/7 so I would hope them to be finished fairly soon.

 

[joe501]

I thought we were to expect a long wait, dosen't he have over two weeks to put a detailed offer together?

 

[Melton Fox]

I thought we were to expect a long wait, dosen't he have over two weeks to put a detailed offer together?

Yes, but as MM's said, the quicker the better. I don't expect it to take 2 weeks. I'm wondering if it was all done within a couple of days and is offer is in already

 

[Scotfox]

this waiting is hellish, nearly a week since the green light, surely the city's books and the offer can't be that complicated.

 

[homer]

this waiting is hellish, nearly a week since the green light, surely the city's books and the offer can't be that complicated.

More complicated than you think......

Accounts:
Income:
Season ticket money (all spent)
Matchday tickets (negligible at present)
Pies etc. (Feck all, because the useless gits behind the counter are too slow and thick)
Shirt sales (designed by a nine year old - 'nuff said)
Sponsorship (Two beans and a bottle top)
Ponce's coffee and biccies in the 1884 (now doing solid trade)

Outgoings:
Player wages (a fortune on load of old crap)
Timmy's £160,000 salary (bargain)
Free food for the Foxes Trust on matchdays
Instruments for Henry's Big Brass Band


Details of Offer:
"All the shareholders get their money back, the greedy sods, and I agree to save your club from a slow and painful death"

 

[western road]

Dilligence by name and by nature, cross the t's and dot the i's.......it will be painfully slow, scrutinise the minutist detail.

 

[Leigh]

I'm sure I read somewhere a quote from MM saying that he wanted to have DD done by the end of next week.

And that he might be at the Derby game. So we'd better put in a good performance..

 

[Melton Fox]

I'm sure I read somewhere a quote from MM saying that he wanted to have DD done by the end of next week.

And that he might be at the Derby game. So we'd better put in a good performance..

 

[frankw]

In my experience, Due Diligence always takes longer than both parties originally thought. The objective of the purchaser is to find anything which will enable him to reduce the price. The objective of the seller is to keep that price as high as possible. I hope that City have a top-class team of accountants on their side, you can be sure that a man of MM's experience has a team of Rotweilers working for him.

 

[Foxes_Trust]

Spoke to the club yesterday, progress is slow so far, hence nothing really to report

 

[Ox Fox]

Spoke to the club yesterday, progress is slow so far, hence nothing really to report

So they've finally finished counting the replica shirts left over from last season then?

 

[Muzzy's Right Boot]

I hope it doesn't drag past MM's Dec 15th deadline!

 

[Jeff]

I hope it doesn't drag past MM's Dec 15th deadline!

Who said it's a deadline?

 

[Muzzy's Right Boot]

Who said it's a deadline?

I've heard a couple of interviews with him where he said he has to be by Dec 15th or he is walking away. I'm sure people have mentioned this on here before too?

 

[Jeff]

I've heard a couple of interviews with him where he said he has to be by Dec 15th or he is walking away. I'm sure people have mentioned this on here before too?

I've heard him say he'd like to have it done by Dec 15th, I've also heard him say he'd like to be here in time for the transfer window, and suggest if things drag on too long he won't continue with the takeover.

I've not heard the 15th as a 'deadline' though, and I don't think Mandaric would be foolish enough to make that kind of statement, all sorts of things could delay a takeover - and at the moment the ball is in his court.

 

[Melton Fox]

He did say in his 15 minute interview that if he isn't in for christmas, he won't be in at all

 

[drummindefender]

ive heard that he hadnt even started it this week from my source he is v reliable-also he says the board aren't being helpful at all and are really dragging their heals-but still expects the deal to go through

 

[Jeff]

He did say in his 15 minute interview that if he isn't in for christmas, he won't be in at all

He said "If I'm not here by Christmas I won't be here".
In the context of the interview I interpreted that to mean that if the club agrees to the takeover he should be in charge by then. If he's not in by then it's because the club has said no.

If the deal is in the process of going through he's not going to pull out at the last minute because he won't be in charge until December 27th or something like that. If he did I'd question how much he really wants to be here.

 

[Dour]

ive heard that he hadnt even started it this week from my source he is v reliable-also he says the board aren't being helpful at all and are really dragging their heals-but still expects the deal to go through

He hasn't started DD....

And he claims the board are dragging their heels?

My bet is the Leicester books are really straightforward (apart from the Teacher's loan - which I reckon MM has no intention of touching). Looks like a simple attempt to jemmy the deal down.

 

[Muzzy's Right Boot]

He's been in Monaco for that last week or so apparently. not sure how much that would affect DD