Mandaric bid to be rejected

[Dour]

To be quite frank if the board expect back what they put in they are in cloud cuckoo land

I'm sure I saw a quote from somewhere (Deloittes?) that although it's always hard to judge the value of a club, based on other recent sales, the value of Leicester is probably around £30 million. There's been no hint that the shareholders are looking for that money.

If they actually care about the club they should snap MM's hand off and allow someone in who actually knows how to run a football club to decently.

Didn't you mean indecently?

 

[SilverFox]

They are going to **** this up I know it!:icon_cry:

Money grabbing Cnuts!

 

[cleefox]

John Elson is now on the board at Grimsby 'they have always been my club' after leaving us skint

I hate the bloke. I've only been once since he was appointed at Grimsby and that was a freebie. Good thing was, he and the rest of the Board (sat just in front of us) got loads of stick about the performance by Grimsby (lost 4-1). Watching him squirm uncomfortably was a big plus on the night.
As for the story in the Independent, believe it when I see it, same as the bid going through, long way to go yet.

 

[Babylon]

It's difficult to slag the board off when we don't know a) if it's true or b) what he actually did offer. What he is doing is trying to get the fans on board and he has certainly done that looking at what has been written on these boards... amazing considering the other bids could be twice as good for all we know.

 

[Leigh]

I don't really have a problem with what has been said, although perhaps the timing it a little off being so soon after the initial bid. "There is also concern that Mandaric's proposal does not contain guarantees about the long-term future of the club" is the part that struck me, forgetting about whether the shareholders get their money back or not, we surely can't accept a bid from someone who doesn't spell out what he's going to do with the club in the future.

 

[homer]

If the guy is trying to get us on the cheap, or if there are genuine doubts about his long term plans, then the Board should quite rightly be asking questions, renegotiating and/or telling him to sling his hook - and they should be doing the same for anyone who is interested in buying the club

That is their duty as a Board, and I suspect (and hope) they will be thinking about the long term interests of the club rather than their own pockets

What pisses me right off is the fact that they've gone squealing to a journalist about it. Any conversations like this should be had behind closed doors - it is a pathetic (and typical) way to do business of this scale and importance

 

[Robsdee]

Don't you just know that they feck this up big time

 

[Babylon]

I don't really have a problem with what has been said, although perhaps the timing it a little off being so soon after the initial bid. "There is also concern that Mandaric's proposal does not contain guarantees about the long-term future of the club" is the part that struck me, forgetting about whether the shareholders get their money back or not, we surely can't accept a bid from someone who doesn't spell out what he's going to do with the club in the future.

Exactly Lee... but people won't see that. All they are seeing is pound signs at the moment, it's modern day gold fever.

 

[Babylon]

If the guy is trying to get us on the cheap, or if there are genuine doubts about his long term plans, then the Board should quite rightly be asking questions, renegotiating and/or telling him to sling his hook - and they should be doing the same for anyone who is interested in buying the club

That is their duty as a Board, and I suspect (and hope) they will be thinking about the long term interests of the club rather than their own pockets

What pisses me right off is the fact that they've gone squealing to a journalist about it. Any conversations like this should be had behind closed doors - it is a pathetic (and typical) way to do business of this scale and importance

Spot on homey.

 

[Durham Fox]

who is this influential shareholder?

It's bound to be someone who has a vested interest in another bid/potential bid.

 

[Babylon]

It's bound to be someone who has a vested interest in another bid/potential bid.

Or someone who love the club and was disgusted with his bid.

You can spin it anyway you want.

 

[PFKAKTF FOX]

If the guy is trying to get us on the cheap, or if there are genuine doubts about his long term plans, then the Board should quite rightly be asking questions, renegotiating and/or telling him to sling his hook - and they should be doing the same for anyone who is interested in buying the club

That is their duty as a Board, and I suspect (and hope) they will be thinking about the long term interests of the club rather than their own pockets

What pisses me right off is the fact that they've gone squealing to a journalist about it. Any conversations like this should be had behind closed doors - it is a pathetic (and typical) way to do business of this scale and importance

Spot on Homer, my concern is that the board will feck it up big time, I don't expect them to accept any offer that is placed before them and I am actually pleased to hear that they are keen to ensure the long term future of the club is secure, however I believe that running to the press disclosing such information will frighten off potential investment as it is very unprofessional, I would prefer shareholders to address their concerns with Mandaric directly rather than through the media, very small minded.

 

[Dour]

If the guy is trying to get us on the cheap, or if there are genuine doubts about his long term plans, then the Board should quite rightly be asking questions, renegotiating and/or telling him to sling his hook - and they should be doing the same for anyone who is interested in buying the club

That is their duty as a Board, and I suspect (and hope) they will be thinking about the long term interests of the club rather than their own pockets

What pisses me right off is the fact that they've gone squealing to a journalist about it. Any conversations like this should be had behind closed doors - it is a pathetic (and typical) way to do business of this scale and importance

Pretty much spot on - it's just that since Mandaric has been conducting his stalking of the club through the media, the shareholders are replying in kind. Probably right, if they plan to turn down the bid, since everyone and their dog seem convinced in MM and willing to believe that he has offered a 'fair and generous' price of £25 million.

 

[Durham Fox]

Or someone who love the club and was disgusted with his bid.

You can spin it anyway you want.

but much less likely.

 

[Babylon]

but much less likely.

In your opinion.

 

[harry]

who is this influential shareholder?

Take your pick.

I would suggest that soke of the shareholders have good contracts with the club for the supply of various good, drinks etc. and these may be lost if MM takes over.

Shareholders

According to a recent Mercury article the major shareholders are:

Pukka Pies 500,000 (7.8%)
Hammond Grange 500,000 (7.8%)
Greg Clarke 413,000 (6.5%)
Trevor Bennett 350,000 (5.5%)
HW Coates Ltd 300,000 (4.7%)
Michael J Edwards 250,000 (4%)
Andrew Taylor 250,000 (4%)
Kirby & West 250,000 (4%)
James C McCahill 250,000 (4%)
AM Widdowson 250,000 (4%)
Stephen JS Lee 200,000 (3.1%)
James Johnson 175,000 (2.7%)
David PJ Ross 165,476 (2.6%)
Foxes Trust 151,000 (2.4%)
David Wilson 150,000 (2.3%)

The leading 15 shareholders have 65.8% between them. Another 32 smaller investors with 100,000 shares or less make up the rest.

The total is about 6.379,477

I don’t know how current this info is or how many shareholders bought more shares when they got wind of the takeover…….. but can the leading 15 be convinced to sell if the deal is right. Will they instead prefer to sit on their hands and continue to enjoy the freebies that come with the shares?

 

[homer]

but much less likely.

Not so sure about that, to be honest

Maybe he's a crafty businessman who sees a wounded Wildebeest limping along and is moving in for an easy kill

Either way I would prefer to see the whole thing kept out of the media by both sides - we are in danger of becoming a complete laughing stock at this rate (yet again) and alienating the fans even further

 

[Durham Fox]

Not so sure about that, to be honest

Maybe he's a crafty businessman who sees a wounded Wildebeest limping along and is moving in for an easy kill

Either way I would prefer to see the whole thing kept out of the media by both sides - we are in danger of becoming a complete laughing stock at this rate (yet again) and alienating the fans even further

I agree about keeping it out of the media but what do you mean about the Wildebeest?

 

[Real Sharapova]

What pisses me right off is the fact that they've gone squealing to a journalist about it. Any conversations like this should be had behind closed doors - it is a pathetic (and typical) way to do business of this scale and importance

Maybe you are right, Homer, but who went to the press first? Mandy. As he did, I don't see anything wrong with a shareholder pointing out that MM's bid may be not what he has leaked to the press.

 

[Travelling Fox]

If you read the article it says (Qoute) but sources close to the deal insist the bid is significantly less than the £6.6m invested to rescue the Championship club from collapse four years ago.This may mean that he has only offered to buy out the shareholders at less than they paid and hasn't offered anything for the ground and also has made no specific gaurantees about what he will invest. I think that we shouldn't be blinded here by the pound signs and let the board do their job. As for the comment about speaking with the press, isn't that what MM is doing?