Happy Anniversary !!

[Doggie_muz]

I agree entirely that MM has likely put little or none of his own money in - as far as I understand he purchased ownership of the stadium from Teachers (who had acquired it when the Private Placement used to finance it was defaulted on) entirely using debt. However, I think this debt carries at least some portion of personal guarantee from MM meaning that if he did try and screw us over / put us into admin, he would immediately be liable himself for some repayment. So, as far as I understand, the only way MM can get out of this in profit is to a) sell for more than he bought or b) make us successful. I'm not positive I have the facts correct, but that's how I understand it.

Either way, putting us in admin would cause him untold reputational damage, so if he cares about his reputation, he won't do that.

What I do know for sure is that our debt position without MM would not be drastically different to what it is now and so I'd be happy going into trouble with £25MM debt and someone who has a lot of cash than £18MM and lots of people who have bugger all!

I don't love Milan, but I'm glad he's here.

On the issue of wages, through nothing to do with MM, I guess the wage bill after this season will be lower than any time in the last 10 or so years.

 

[City Fan]

On the issue of wages, through nothing to do with MM, I guess the wage bill after this season will be lower than any time in the last 10 or so years.

No chance. Im sure the likes of Bruno, Howard, Oakley, Clemence etc will be on a greater wage than the likes of Josh Low, Cadamateri etc under Kelly's regime.

 

[Redditch Fox]

Excellent, could you ask Milan when he is going to get shot of Foxes trust?

Thanks in advance

FKA

Totally out of order!

May I remind you that but for the brilliant foresight of the FT - and its compelling advice to Milan on the choice of a manager - we could all be facing the trauma of a play-offs place battle. We would have to put up with the stress of supporting a winning side; pushing our way through the crowds to take our place in a packed out Walkers etc etc.

I presume one of the FT's questions will be - how do you feel about our advice now, Milan and when would you like another dollop of our collective wisdom?

 

[four king power]

Totally out of order!

May I remind you that but for the brilliant foresight of the FT - and its compelling advice to Milan on the choice of a manager - we could all be facing the trauma of a play-offs place battle. We would have to put up with the stress of supporting a winning side; pushing our way through the crowds to take our place in a packed out Walkers etc etc.

I presume one of the FT's questions will be - how do you feel about our advice now, Milan and when would you like another dollop of our collective wisdom?

:icon_lol::icon_lol:

 

[bocadillo]

I agree entirely that MM has likely put little or none of his own money in - as far as I understand he purchased ownership of the stadium from Teachers (who had acquired it when the Private Placement used to finance it was defaulted on) entirely using debt. However, I think this debt carries at least some portion of personal guarantee from MM meaning that if he did try and screw us over / put us into admin, he would immediately be liable himself for some repayment. So, as far as I understand, the only way MM can get out of this in profit is to a) sell for more than he bought or b) make us successful. I'm not positive I have the facts correct, but that's how I understand it.

Either way, putting us in admin would cause him untold reputational damage, so if he cares about his reputation, he won't do that.

What I do know for sure is that our debt position without MM would not be drastically different to what it is now and so I'd be happy going into trouble with £25MM debt and someone who has a lot of cash than £18MM and lots of people who have bugger all!

I don't love Milan, but I'm glad he's here.

On the issue of wages, through nothing to do with MM, I guess the wage bill after this season will be lower than any time in the last 10 or so years.

Not true - the Teachers' pension fund still owns the ground. They have a rep on the board who also attends all, or almost all, of the home games.

 

[Trifull]

I think you have to look back at what MM achieved at Pompey. If MM is to make a profit from selling the club sometime in the future, we have to be way up the league, or preferably in the prem. Without MM we wouldn't have the players we have, even if they are under performing.
On the debt side, we wont have received the sky payment yet, how much is that worth now ?

 

[Si Nick]

I think you have to look back at what MM achieved at Pompey. If MM is to make a profit from selling the club sometime in the future, we have to be way up the league, or preferably in the prem. Without MM we wouldn't have the players we have, even if they are under performing.
On the debt side, we wont have received the sky payment yet, how much is that worth now ?

What Sky payment? - we aren't in the Prem & our parachute payments are over

 

[Si Nick]

I agree entirely that MM has likely put little or none of his own money in - as far as I understand he purchased ownership of the stadium from Teachers (who had acquired it when the Private Placement used to finance it was defaulted on) entirely using debt. However, I think this debt carries at least some portion of personal guarantee from MM meaning that if he did try and screw us over / put us into admin, he would immediately be liable himself for some repayment. So, as far as I understand, the only way MM can get out of this in profit is to a) sell for more than he bought or b) make us successful. I'm not positive I have the facts correct, but that's how I understand it.

Either way, putting us in admin would cause him untold reputational damage, so if he cares about his reputation, he won't do that.

What I do know for sure is that our debt position without MM would not be drastically different to what it is now and so I'd be happy going into trouble with £25MM debt and someone who has a lot of cash than £18MM and lots of people who have bugger all!

I don't love Milan, but I'm glad he's here.

On the issue of wages, through nothing to do with MM, I guess the wage bill after this season will be lower than any time in the last 10 or so years.

Got a lot wrong there mate
- ground ownership Boc has covered
- without MM club wouldn't have borrowed so much, bank wouldn't have sanctioned it
- who has a lot of cash? - don't mix it up with potential book worth
- wages, you got that completely wrong, MM believes in splashing cash on wages more than transfer fees & seems to offer long contracts, the wage bill will have rocketed in the last 12 months (and MM will have sanctioned it, so has everything to do with him

You must be naive or believe everything Anderson rights (oh, that's the same thing)

 

[OldGit]

And I think you will find that the club is not owned by MM himself but by a trust which he controls and through which any cash / guaranteed are provided. So any personal liabilities will be strictly limited.

 

[Spanky Fox]

Milan happy be-lated anniversary, since you have come to this club you have made us public enermy number one with all the managers and brought down the name of leicester city, you havent had faith in any of the managers because none of them are good us your son harry redkap, i hope you believe in the managers and the players cause right now you are ****-face

i hope you start to 'keep the faith'

the more managers that come and go and the more come and go there will be no leicester city left you are a virus ruining our club!!!

enjoy your time at the club as you make us the fans time worst and worst by your lack of judgement.

 

[Redditch Fox]

Milan happy be-lated anniversary, since you have come to this club you have made us public enermy number one with all the managers and brought down the name of leicester city, you havent had faith in any of the managers because none of them are good us your son harry redkap, i hope you believe in the managers and the players cause right now you are ****-face

i hope you start to 'keep the faith'

the more managers that come and go and the more come and go there will be no leicester city left you are a virus ruining our club!!!

enjoy your time at the club as you make us the fans time worst and worst by your lack of judgement.

Back in the real world, Milan made it clear from the outset that he would keep hiring and firing managers until he found one that was successful. That is the nature and style of the man and everyone knew that.

The problem we have is that the players are under-performing. They are playing below their ability - we need a manager who can motivate players to play above their ability.

Holloway has had sufficient time to give indications as to whether or not he is the right man. It's never too soon to start winning and always too late to be losing. Holloway looks like another loser.

The thing that matters for me is whether Milan has someone better lined up. We don't want another situation where Milan sacks the manager and then tells us that he is going to use all his energies to find another one. Given we are in danger of a catastrophic relegation, we can't afford to have him scratting around for weeks on end trying to induce someone to take the job. If on the otherhand he could secure the services of Billy Davies then its time to hand Holloway his P45 - which would be very sad - but what matters most is Leicester city winning some football matches.

 

[Nottingham Fox]

He's spent £11M according the the mocery in his first year ...

Milan Mandaric today revealed that he has spent £11million in his first year as owner of Leicester City.


The City chairman admits there were times during 12 turbulent months when he might have thrown in the towel.

Despite Mandaric's massive investment, City are in a worse position in the Championship now than when he took over.

They go into Saturday's crucial home game against Norwich in 20th place on 34 points, compared to 17th and 37 points a year ago. And they have played a game more.

Mandaric, who marked his first-year anniversary yesterday, said: “So far I have invested over £11million in this club to get going. It has not been easy.

“I am not crying about it, but I tell you there were a few times when I thought €˜what am I doing here', when I wondered if I would throw in the towel.

“This is not where I expected to be at this stage. There is a lot of work to be done but I know I will do it.

“When I go away from here, I will leave this club in a far better shape than when I took over.

“I am still excited by it. We have a huge number of great supporters who are as desperate as I am to get this club up and running.”

It is not clear how the £11m breaks down, but there has been considerable outlay on players like striker DJ Campbell (£2.3m), captain Stephen Clemence (£750,000), Matt Oakley (£500,000) and Barry Hayles (£150,000).

And Mandaric probably had to agree settlements with sacked manager Martin Allen and the players who left by “mutual consent”.

Meanwhile, City boss Ian Holloway believes his embattled side are good enough to avoid relegation.

Slowly but surely, he is getting a team together, with seven new transfer-window arrivals, and even if results have been poor in the last three games, the irrepressible Holloway insists his glass is still “half full”.

He said: “My glass is always half full, even though when I came here a lot were saying theirs were half empty. It was an attitude I wanted rid of.

“Now the team is playing with a lot more spirit and, even if we have not got the results in the last few games, this lot, if they keep playing as well as they did at Watford, will soon be moving up the table.”

The Watford setback, against a strong team who went down to 10 men for 50 minutes, nevertheless produced an improved performance and clear signs that, against the best in the division, Holloway's men could certainly compete.

City had been chasing a double against the Hornets - after winning 4-1 at the Walkers Stadium under Allen in August - and were pressing right to the end, a factor essential for any side trying to get themselves out of trouble.

Holloway is beginning to see the right drive from his men now.

He said: “That defeat was a bitter pill to swallow. We played well against a side top of the division and I am sure if our fans see us play like that against Norwich on Saturday, they will be right behind us.

“We showed some endeavour, got the ball down and passed it, and I am sure if we continue to do that then things will change.”

Confidence is naturally not sky-high at the moment, and Holloway did fear that his team might fade away when they lost the goal, something they have done before.

He said: “I had been waiting for us to wake up. We needed leaders, we go too quiet, but this time when we went a goal down to 10 men, I still felt they were brave, still felt that they wanted it.

“When we went behind, everyone knew we had never come back from being down, but from what they showed me, I thought that this was going to be the night.
“If we keep this going, then we will be all right.”

 

[From Gradel to Grave]

Yes indeed. My memories of the 60s and 70s become clearer by the day.

Is that the sixties and seventies or your sixties and seventies. Or are they the same thing? :icon_eek: Exactly how O are you OG?

 

[OldGit]

Is that the sixties and seventies or your sixties and seventies. Or are they the same thing? :icon_eek: Exactly how O are you OG?

the!

As old as the use of nuclear weapons (to within a few hours)

 

[From Gradel to Grave]

the!

As old as the use of nuclear weapons (to within a few hours)

Coincedence? I think not.

 

[OldGit]

Coincedence? I think not.

As my mother used to say

"Two disasters on the same day that the world will regret for ever"

 

[From Gradel to Grave]

As my mother used to say

"Two disasters on the same day that the world will regret for ever"

Nice

Je ne regrette rien :icon_wink

 

[From Gradel to Grave]

Nice

Je ne regrette rien :icon_wink

I learnt that from 'French for Trevors'.

 

[OldGit]

Doesn't it mean "I don't regret Irene?

 

[From Gradel to Grave]

Doesn't it mean "I don't regret Irene?

There's a Dexy's Midnight Runners joke there somewhere but I won't lower the tone. :icon_bigg

It was in the eighties. The eighties not your eighties :icon_wink