Foxes Trust e-mail

[Hazzman]

And that's all detailed in the bid, then, is it ?

Blimey

No it's my simplified understanding of the situation and one of the quirkies in the bid which I don't find appealing.

 

[Boy Genius]

a. How do you know it wasn't?

b. Do they? This thread is getting just like the earlier ones - people put forward speculation and others then knock down the straw man.

I have no axe to grind either way regarding the current shareholders (who I would assume to be a fairly disparate group with a whole range of circumstances, views, motivations etc), but as several people have said, we don't know nothing.

quite likely if it had something would have leaked out. Hammond Grange increased their shareholding and that info is really easy to find as its been shown on here before

 

[Real Sharapova]

Unless they are aiming for admin and buying at the very last second.

If they are not bringing anything new to the club whats the point, and so IMO they can all go a feck themselves. They all seem to be playing little games.

I still don't understand your point. The only way to wave goodbye to some debts is to go in to admin. Some problems there:
1. 10 point deduction.
2. The creditors may not agree to admin this time and the club goes into liquidation. Then there is no LCFC, no nothing.

 

[Boy Genius]

And that's all detailed in the bid, then, is it ?

Blimey

I know Homer, this MM guy is going against the grain of standard business

 

[Real Sharapova]

I know Homer, this MM guy is going against the grain of standard business

i.e.
Success - reap the rewards
Failure - walk away with your millions intact.

Wish I'd have thought of it earlier in my life.

 

[Boy Genius]

I still don't understand your point. The only way to wave goodbye to some debts is to go in to admin. Some problems there:
1. 10 point deduction.
2. The creditors may not agree to admin this time and the club goes into liquidation. Then there is no LCFC, no nothing.

who said anything about losing debts? If the buying price is pressured down the debts effectivly take care of themselves. i.e if someone was to buy for say £8M and happy to take everything on, but then waits, admin then seems certain, they buyer comes back with a much much reduced offer and the savings goes towards paying the debts. But I dont know ( if any ) what are debts are.

 

[Boy Genius]

i.e.
Success - reap the rewards
Failure - walk away with your millions intact.

Wish I'd have thought of it earlier in my life.

assuming there is more than feck all there at the end

 

[1966]

How can they pick up the club for a song, they already own it? I think what they were talking about was a rights issue, of course nobody knows what investment that might generate.

I think that those of the current shareholders, with any remote interest in owning the club outright, would have expected that they would have to have stumped up C£25m to do so, to avoid being laughed at by the rest of the shareholders, not £1/2m.

 

[drew]

1966 would you pay 6 million for an ailing club with large debts if you didnt have to?

The shareholders are taking the piss if they think he should.

 

[newtonfox]

Well I don't know the in's and out's but it seems MM is going to loan the money to us rather than pumping the money straight into the club. He seems to want to be heralded as the saviour of the club and the chairman but doesnt want to take the burden on his shoulders. So if it all goes tits up, MM doesnt go down instead its 'bye, bye' to LCFC.

yes MM is loaning most of the money but update it has cost him 1/2 a mill so far as ive been informed just to do DD and put the offer in and that 1/2 a mill is his own money he is also going to invest in the team which is going to be his own money

the money he is borrowing is to buy the club and pay the shareholders now if anyone could walk into a bank and get that type of money someone would have done it years ago it takes a man of MM standing to get this type of loan and if things do go tits up its his debt at the end of the day :icon_wink

 

[OldGit]

yes MM is loaning most of the money but update it has cost him 1/2 a mill so far as ive been informed just to do DD and put the offer in and that 1/2 a mill is his own money he is also going to invest in the team which is going to be his own money

the money he is borrowing is to buy the club and pay the shareholders now if anyone could walk into a bank and get that type of money someone would have done it years ago it takes a man of MM standing to get this type of loan and if things do go tits up its his debt at the end of the day :icon_wink

a. Now doubt through one of his companies. Never heard of tax losses?

b. That one has come up so many times now. Once again, any debt incurred by a limited comany is the company's, not the shareholders.

 

[newtonfox]

a. Now doubt through one of his companies. Never heard of tax losses?

b. That one has come up so many times now. Once again, any debt incurred by a limited comany is the company's, not the shareholders.

being as MM will be the only shareholder its his debt will it not

 

[newtonfox]

a. Now doubt through one of his companies. Never heard of tax losses?

b. That one has come up so many times now. Once again, any debt incurred by a limited comany is the company's, not the shareholders.

still his money at the end of the day

 

[Dour]

the money he is borrowing is to buy the club and pay the shareholders now if anyone could walk into a bank and get that type of money someone would have done it years ago it takes a man of MM standing to get this type of loan and if things do go tits up its his debt at the end of the day :icon_wink

I don't think anyone thought the bar was set quite that low... If the board had said from the start, "half-a-million and the club's yours" then I suspect they would have had a stream of suitors - some chancers, some realistic. FFS, a half-million: if I wasn't so lazy even I'd have been tempted at that price.

 

[Naughty Fox]

being as MM will be the only shareholder its his debt will it not

I am not an expert, but as OG says, if you are a Ltd company you have safeguards regarding your own personnel finances. Like if any company went bust the director/s do not have to loose their house if it was not put up as security.

 

[newtonfox]

I don't think anyone thought the bar was set quite that low... If the board had said from the start, "half-a-million and the club's yours" then I suspect they would have had a stream of suitors - some chancers, some realistic. FFS, a half-million: if I wasn't so lazy even I'd have been tempted at that price.

but thats just for stting the deal up and doind DD

 

[homer]

I don't think anyone thought the bar was set quite that low... If the board had said from the start, "half-a-million and the club's yours" then I suspect they would have had a stream of suitors - some chancers, some realistic. FFS, a half-million: if I wasn't so lazy even I'd have been tempted at that price.

Demonstrates once and for all what a truly pitiful state we are in

He's seen the books, knows we up shit creek, and therefore knows the shares a worth precisely feck all

 

[newtonfox]

I am not an expert, but as OG says, if you are a Ltd company you have safeguards regarding your own personnel finances. Like if any company went bust the director/s do not have to loose their house if it was not put up as security.

like yourself im no expert but would think there some safeguards but also there has to be some risks

 

[From Gradel to Grave]

but thats just for stting the deal up and doing DD

Someone better warn the guy. And quickly.

 

[newtonfox]

Someone better warn the guy. And quickly.