Mandaric bid to be rejected
- Thread starter Jeff
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Real Sharapova
Well-Known Member
No, the money they put in was for shares. They could only get it back by winding up the company ( most unlikely, as they put the money in to save the club ) or selling their shares to someone else ( i.e. Mandy or whoever ).
Durham Fox
El Dude Brother.
So that what MM is proposing, to take on their shares and then loan us cash. So he coudlnt wind us up without losing his £5m
Durham Fox
El Dude Brother.
Hes probably low balling on that anyway, Im sure theres room for manouver
Real Sharapova
Well-Known Member
He might not lose the £5 million, it would depend if there were any assets left to cover it.
Durham Fox
El Dude Brother.
But thats the same with the current crop.
OldGit
Well-Known Member
True - that is the nature of equity investment. It provides more incentive for sucess than loans secured on assets.
Most of the take-overs of football clubs have been largely done by issuing fair amounts of debt. That would be likely for any bidder in this case - it's part of the gamble you take. The nature of the debt and its size in relation to assets that is the important thing.
Wolves for example were £40m in debt to their sugar daddy, but when he pulled out he wrote it off. What would have happened if he had died in harness? I don't know the particular circumstances, but it would quite possibly have formed part of his estate, and attracted death duties, forcing his executors to call some of it in or sell it off.
Al Fayed has, I understand, put much of his into a family trust, which gives Fulham much more security in the event of him dying, pulling out, or whatever.
Real Sharapova
Well-Known Member
Yes, but I don't think they would want to liquidate the club to get their money back - I'm sure that when they put their money in the save the club they thought " that's down the plughole ". Somehow, I don't think Mandy would look at it in that light. Also, if he were to fall under a bus after investing in LCFC I'm sure his executors would want to get every penny back, by whatever means.
Durham Fox
El Dude Brother.
I think you are splitting hairs, you neither know the intentions of nthe current regime or MM.
PFKAKTF FOX
Well-Known Member
Whilst Mandaric's bid is dissected and analysed, why has nobody enquired to the second party carrying out Due Dilligence, as to the structure of their offer and what their motives and aspirations are, would be useful to compare.
I have a horrible feeling that this present scenario could be used as spin by the present board who will effectively discredit the bids in an attempt to show that they are in fact the only creditable way forward for our club.
I have a horrible feeling that this present scenario could be used as spin by the present board who will effectively discredit the bids in an attempt to show that they are in fact the only creditable way forward for our club.
Melton Fox
Dancing Queen
highland fox
New Member
Can someone give me a Brief account of how things stand at the moment because i really cannot be arsed trawling through these 200 pages to find out ..Cheers
Durham Fox
El Dude Brother.
I cant honestly beleive they are carrying out due dillegence. Why make a statement on one bid but even acknowledge the other/s?
Durham Fox
El Dude Brother.
Mandarics is the only bid in (that we have been told of) He wants to rip the heart out of the club, sell the training ground and all the players, before he dies and leaves us millions in debt - the club will decide next week if they fancy that.
Bardon are waiting in the wings to turn us in to the tigers play thing before moving us to Welford road and the Tigers to the walkers before shagging every supporter up the arse 3 times a week - the board dont even know how to release a statement about this.
Its great this investment lark.
Melton Fox
Dancing Queen
:icon_lol:
EMC Fox
Active Member
Can i change my vote? :icon_redf
highland fox
New Member
Will that be in the 1884 at Half Time and will they provide Tea and Biscuits because I think I know a man who might be interested...
Durham Fox
El Dude Brother.
Real Sharapova
Well-Known Member
You usually carry out due diligence before making a bid - you know exactly what you are buying (i.e. long-term sponsorship contracts, all sort of confidential stuff ), and can make your offer based on that. The bid ( if any ) will come after due diligence. It appears Mandy has made a bid of sorts without carrying out due dilligence. If that is true, he seems a bit a an idiot to me, unless he was trying to get the fans on his side before any other bidders could get their PR machines into action.
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