Foxes Trust.....

[Boy Genius]

What you going to do when Milan comes and boots you out?.....

 

[Jeff]

If he buys their shares at the price they paid for them they'll have to decide how to spend the £100,000+ they'll get.

 

[Macky]

What you going to do when Milan comes and boots you out?.....

how could that happen?

 

[Fox Fan]

Bigger question is were they aware that he had approcahed the club. I was told he was quoted as saying he had held talks with us.:icon_bigg:icon_bigg

 

[Jeff]

I was told he was quoted as saying he had held talks with us.:icon_bigg:icon_bigg

There was a report that he'd said that. But then there was a later report which said he'd denied saying it :icon_conf

 

[Boy Genius]

Bigger question is were they aware that he had approcahed the club. I was told he was quoted as saying he had held talks with us.:icon_bigg:icon_bigg

it has happened, it really has happened. Talks were held a while back

 

[Boy Genius]

If he buys their shares at the price they paid for them they'll have to decide how to spend the £100,000+ they'll get.

I take it thats all the members have to decide what they do with their money back.

 

[OldGit]

Course we do

 

[western road]

I hope they share it out between all who willingly gave

 

[Bilborough Fox]

I've given to understand the Milan likes the fans to have involvement in the clubs he has been at, so therefore he may just leave the Trust in place. Probably have to buy enough though secure ownership.

 

[Boy Genius]

I hope they share it out between all who willingly gave

 

[bocadillo]

There was a report that he'd said that. But then there was a later report which said he'd denied saying it :icon_conf

I'm not sure which you call the later report. The 'I deny it' article that is now appearing on the BBC website is actually an earlier report than the more positive one that it replaced yesterday. It was replaced by that more positive report early yesterday, but was put back again later.

 

[Jeff]

I'm not sure which you call the later report. The 'I deny it' article that is now appearing on the BBC website is actually an earlier report than the more positive one that it replaced yesterday. It was replaced by that more positive report early yesterday, but was put back again later.

But the one you've linked to is denying the 50:50 thing - and the first time we heard that was yesterday, so surely it is a denial of those earlier reports?

 

[Jeff]

I hope they share it out between all who willingly gave

If the trust is disbanded the constitution makes it clear that the money would go to community groups and charities.

But I think it's unlikely the trust would disband just because the club has a new owner, even if they're no longer shareholders in the club. If the club has one owner, who isn't even a supporter, I think it's even more important that there is trust.

So if the trust remains and has a windfall of £130,000 for example it would be interesting to see how it's used, maybe it will be put into youth player development or community projects.
It may also allow the trust to reduce membership prices to get as many people to join as possible.

 

[Foxes_Trust]

Various points to be made here

1) A significant new investor, be it MM or someone else does not have to buy 100% of the shares to have control of the club. Based on the clubs current set up, 51% gives control, 75% removes certain courses of action that other shareholders could take if in disagreement with something. Over 90% and then all shares can be compulsory purchased. A new investor may decided to accept some existing shares are retained & utilise the money saved on other things such as player or put it towards buying the stadium

2) Certainly if any new investor was happy with not having 100% of shares, then the Trust would look to retain ours. Furthermore we would push for having a seat on the board, if any non LCFC fan took over it would be more vital than ever (as Jeff stated), the owner would need constructive fan input when ideas are being generated.

3) If a new investor did want 100% of the shares, there is no certainty that they would be looking to pay what they originally cost, so the Trust may not receive back the full £151k (our current shares held).

4) The Trust would certainly continue to exist even if excluded from the board room & any regular meetings, if so it would turn into more of a pressure group communicating its praise & criticism via the media rather than directly to those running the club as now. Hopefully then the new owner would learn from their mistake & resume direct dialogue. (In MM's case our understanding from Pompey is that he was keen to meet regularly with supporters)

5) If we did receive money back, the Trust board would then consider various options & put forward it's recommendations to the membership.

6) Jeff is quite correct in stating what could happen if the Trust was desolved, but that certainly won't happen

 

[Boy Genius]

Various points to be made here

1) A significant new investor, be it MM or someone else does not have to buy 100% of the shares to have control of the club. Based on the clubs current set up, 51% gives control, 75% removes certain courses of action that other shareholders could take if in disagreement with something. Over 90% and then all shares can be compulsory purchased. A new investor may decided to accept some existing shares are retained & utilise the money saved on other things such as player or put it towards buying the stadium

2) Certainly if any new investor was happy with not having 100% of shares, then the Trust would look to retain ours. Furthermore we would push for having a seat on the board, if any non LCFC fan took over it would be more vital than ever (as Jeff stated), the owner would need constructive fan input when ideas are being generated.

3) If a new investor did want 100% of the shares, there is no certainty that they would be looking to pay what they originally cost, so the Trust may not receive back the full £151k (our current shares held).

4) The Trust would certainly continue to exist even if excluded from the board room & any regular meetings, if so it would turn into more of a pressure group communicating its praise & criticism via the media rather than directly to those running the club as now. Hopefully then the new owner would learn from their mistake & resume direct dialogue. (In MM's case our understanding from Pompey is that he was keen to meet regularly with supporters)

5) If we did receive money back, the Trust board would then consider various options & put forward it's recommendations to the membership.

6) Jeff is quite correct in stating what could happen if the Trust was desolved, but that certainly won't happen

and what feckin mistake would that be? Not taking you lot on board??
I'll bet the hardnosed businessman who takes over will be crapping himself after reading that comment!
You lot are unbelievable you really are...

 

[Foxes_Trust]

and what feckin mistake would that be? Not taking you lot on board??
I'll bet the hardnosed businessman who takes over will be crapping himself after reading that comment!
You lot are unbelievable you really are...

Any organisation would rather hear criticism of themselves in the confines of a meeting room than read/hear it in the media, it's plain common sense