Mandaric bid to be rejected

[OldGit]

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.

You forgot to add that the existing board are intent on selling their shares at 5x face value to the mothers union, and that Michael Jackson & Bubbles are locked in a fight to the death with Bill Gates' charitable trust as to who will recue us from third world poverty.

 

[Durham Fox]

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.

I guess you are right, although I thought due diligence was carried out after a bid personally.

 

[Durham Fox]

'Due diligence is usually carried out after you have made an in-principle commitment to proceed with your advisers, and is completed before the production of the prospectus and other documentation involved in the flotation. The agreement reached with your advisers should specify how much due diligence is to be carried out and should estimate how much it is going to cost'

 

[western road]

So in a space of a week he(mandaric) has gone from a saviour to a rsole without exactly knowing any of the bid that he's put forward hdq ..all businessmen are in on every deal they can, provided it suits their pockets.

 

[Yorkshire Vixen]

So in a space of a week he(mandaric) has gone from a saviour to a rsole without exactly knowing any of the bid that he's put forward hdq ..all businessmen are in on every deal they can, provided it suits their pockets.

who said football fans were fickle

 

[Durham Fox]

So in a space of a week he(mandaric) has gone from a saviour to a rsole without exactly knowing any of the bid that he's put forward hdq ..all businessmen are in on every deal they can, provided it suits their pockets.

Some people seemed to think he was going to be a benefactor when of course he is merely an investor.

 

[Jeff]

The club has released the following statement - doesn't really tell us anything new though:


The Board of Directors at Leicester City has for a considerable while been exploring all avenues of generating increased investment into the football club.

Earlier this week the Board received a formal offer from Milan Mandaric to purchase the club.

The Board welcomes the interest of Mr Mandaric as a potential investor and acknowledges his track record in football over three decades in North America and Europe and, most recently, his successful term as chairman at Portsmouth .

The Board, which is elected by 47 shareholders, has and will always continue to act in the best interests of the football club.

This is an extremely important time for the football club and any decisions must be taken in a careful and measured manner.

The 47 shareholders rescued the club from administration three years ago and remain totally committed to safeguarding and developing the future of the club.

Members of the Board will meet with Mr Mandaric and continue to explore the other options open to it.

 

[Durham Fox]

Feck it, Im going Subway.

 

[Real Sharapova]

'Due diligence is usually carried out after you have made an in-principle commitment to proceed with your advisers, and is completed before the production of the prospectus and other documentation involved in the flotation. The agreement reached with your advisers should specify how much due diligence is to be carried out and should estimate how much it is going to cost'

Exactly, it's after you have indicated you are serious about a bid, but before you've given a firm figure as to what that bid will be.

 

[Yorkshire Vixen]

Feck it, Im going Subway.

think you need to take some deep breaths durham and try and remain calm :icon_bigg

 

[OldGit]

Feck it, Im going to mug someone in the Subway.

 

[Leesoh]

Dear oh dear....

 

[Yorkshire Vixen]

Dear oh dear....

do you know something :icon_wink :icon_bigg

 

[Leesoh]

do you know something :icon_wink :icon_bigg

No I don't, and reading this has left me even more confused. And the painkillers aren't helping. I'm thinking of hibernating until it's all over....

 

[Steven]

Where is there an Accountant when you need one? :icon_roll :icon_conf Could it not be the case that it is more tax efficient to loan City the money rather than issue new share capital which I presume is meant by investing in the Club?

 

[Real Sharapova]

Where is there an Accountant when you need one? :icon_roll :icon_conf Could it not be the case that it is more tax efficient to loan City the money rather than issue new share capital which I presume is meant by investing in the Club?

Accountant speaking: If he's going to charge interest, it's better as a loan. However, there are various other reasons Capital Gains Tax-wise where it could be better via share capital. Therefore, I cannot give you an answer ( unless you want to take me on as a consultant for a couple of weeks at £80 per hour ).

 

[OldGit]

Where is there an Accountant when you need one? :icon_roll :icon_conf Could it not be the case that it is more tax efficient to loan City the money rather than issue new share capital which I presume is meant by investing in the Club?

Call for Mr RS!

edit - oh, he's already there!

 

[Dickovforengland!]

 

[Durham Fox]

You read through all this to tell you are bored of it??

 

[Steven]

Accountant speaking: If he's going to charge interest, it's better as a loan. However, there are various other reasons Capital Gains Tax-wise where it could be better via share capital. Therefore, I cannot give you an answer ( unless you want to take me on as a consultant for a couple of weeks at £80 per hour ).

It would be interesting to know where he and the companies he uses for this kind of thing are domiciled.