Milan offered ?3 million?

[Durham Fox]

shame he cant put his hand in his very deep pockets and buy us out..he isnt going to miss £25m

Its clearly not something he wants to do or he'd have done it by now. Who can blame him? He has a company to run and a football club would probably be a rather large distraction.

Would be nice but he obviosuly has no real interest. What is of note though is that his investment is like £50 to me or you and he is backing MM's bid. Why?? because he doesnt care about the money he put in.

 

[Yorkshire Vixen]

Its clearly not something he wants to do or he'd have done it by now. Who can blame him? He has a company to run and a football club would probably be a rather large distraction.

Would be nice but he obviosuly has no real interest. What is of note though is that his investment is like £50 to me or you and he is backing MM's bid. Why?? because he doesnt care about the money he put in.

he wont care when he has a few hundred million quid to play with....but i know what youre saying :icon_bigg :icon_wink

 

[Durham Fox]

he wont care when he has a few hundred million quid to play with....but i know what youre saying :icon_bigg :icon_wink

Exactly, therefore his decision is based simply on whether its right for the club. He has no vested interest.

 

[Jeff]

£3 million is a more than fair price.

Why do you think the club is worth less now than it was four years ago?

The club has significantly lower debt now, and has some saleable assets in the playing squad, which it didn't have then.

If I could buy the club for £3 million I'd borrow the money to do it, then I'd sell Kisnorbo, McCarthy, Stearman, Wesolowski, Hume and Fryatt for a combined total of £6 million, then I'd pay myself a huge bonus and leave someone else to sort out the mess I'd left behind.

 

[EMC Fox]

Why do you think the club is worth less now than it was four years ago?

The club has significantly lower debt now, and has some saleable assets in the playing squad, which it didn't have then.

If I could buy the club for £3 million I'd borrow the money to do it, then I'd sell Kisnorbo, McCarthy, Stearman, Wesolowski, Hume and Fryatt for a combined total of £6 million, then I'd pay myself a huge bonus and leave someone else to sort out the mess I'd left behind.

Call yourself a fan?

 

[Durham Fox]

Why do you think the club is worth less now than it was four years ago?

The club has significantly lower debt now, and has some saleable assets in the playing squad, which it didn't have then.

If I could buy the club for £3 million I'd borrow the money to do it, then I'd sell Kisnorbo, McCarthy, Stearman, Wesolowski, Hume and Fryatt for a combined total of £6 million, then I'd pay myself a huge bonus and leave someone else to sort out the mess I'd left behind.

Call yourself a Leicester fan?? :icon_lol: :icon_lol:

 

[Jeff]

Call yourself a fan?

The point I'm trying to make, which I'm sure you understand, is that if someone like MM comes in and expects to pay less than the value of the club, there have to be guarantees in place to make sure he's just not doing it to make a quick profit, but he's going to look after the long term interests of the club.

 

[Real Sharapova]

I realise what the investments are. The actual figures arent really of importance. What they represent is what differing indvidiuals were willing to give away for differing say so's in the club. There was no risk, they knew it was effectively a gift for which in exchange they would receive benefits.

What benefits? I seem to recall it was said when we came out of admin all directors and shareholders would pay for their tickets - perhaps the FT can advise us if that has changed. Otherwise it's a cup of tea and a biccy at half-time.

 

[Yorkshire Vixen]

What benefits? I seem to recall it was said when we came out of admin all directors and shareholders would pay for their tickets - perhaps the FT can advise us if that has changed. Otherwise it's a cup of tea and a biccy at half-time.

with melton in the 1884

 

[Durham Fox]

What benefits? I seem to recall it was said when we came out of admin all directors and shareholders would pay for their tickets - perhaps the FT can advise us if that has changed. Otherwise it's a cup of tea and a biccy at half-time.

Benefits? Having a say in the running of club. Being involved in decision making. I could really give a shite if they are given free entry to games. I would be shocked if they werent.

 

[DesertFox]

Spot on.

Shareholders all pulling together to try and squeeze every last penny out of an investment they never thought theyd see again. Scandalous.

Spot on up to that point IMO. I don't think it's at all scandalous that the shareholders want an improved offer, it's just the normal flow of a business transaction.

We know that the people who invested when we needed it most do give a shit of some sort about what happens to the club. Of course they do - nobody was investing at that time to speculate, they were all fans or connected with the club in some way.

We also know MM does have a considerable amount of wonga at his disposal. If HE'S serious, he won't walk away after his initial bid is turned down. The shareholders rightly won't sell unless he's serious. It's not as if MM doesn't know he's offering a lot less than they put in to rescue the club, so he must be expecting it to some degree.

So, IF the shareholders believe it's in the best interests of the club, they have probably decided to sell to MM already. But I don't think at this point they should be duty-bound to capitulate at the first hint of a bid and take whatever scraps they're offered. I don't begrudge them that after what they have done.

And let's be honest, after not paying a single transfer fee in the summer, it's not going to matter that much if we've suddenly got a theoretical 23M or 22M of investment available - it's a feck of a lot more than we've got now!

It looks to me like the deal will go through - I reckon this first offer will be turned down, MM will moan a bit in the media, say he's disappointed and might not make another bid, then he'll improve his bid and they'll probably take it. Normal takeover-type transaction, it's just that this one is done in the spotlight of publicity and is accompanied by the biggest load of misrepresentation, false assumption and knee-jerking you've seen in your life! :icon_roll :icon_lol:

 

[harry]

he wont care when he has a few hundred million quid to play with....but i know what youre saying :icon_bigg :icon_wink

I think gary also said he did not expect to see his money back so how many more shareholders feel this way.

Until the board ask the question of the shareholders no one knows what the outcome will be.

 

[Real Sharapova]

Benefits? Having a say in the running of club. Being involved in decision making. I could really give a shite if they are given free entry to games. I would be shocked if they werent.

The vast majority of the 47 shareholders are not on the board, and therefore have minimal say in how the club is run on a day to day basis. The only time they have a real say is when big decisions like this come up.

 

[homer]

Normal takeover-type transaction, it's just that this one is done in the spotlight of publicity and is accompanied by the biggest load of misrepresentation, false assumption and knee-jerking you've seen in your life! :icon_roll :icon_lol:

Sadly being fuelled each and every day by both sides (and a truly hapless local media) - rumour, counter rumour, innuendo, half-truths, red herrings etc, etc.

Appalling stuff IMO

 

[Durham Fox]

Spot on up to that point IMO. I don't think it's at all scandalous that the shareholders want an improved offer, it's just the normal flow of a business transaction.

We know that the people who invested when we needed it most do give a shit of some sort about what happens to the club. Of course they do - nobody was investing at that time to speculate, they were all fans or connected with the club in some way.

We also know MM does have a considerable amount of wonga at his disposal. If HE'S serious, he won't walk away after his initial bid is turned down. The shareholders rightly won't sell unless he's serious. It's not as if MM doesn't know he's offering a lot less than they put in to rescue the club, so he must be expecting it to some degree.

So, IF the shareholders believe it's in the best interests of the club, they have probably decided to sell to MM already. But I don't think at this point they should be duty-bound to capitulate at the first hint of a bid and take whatever scraps they're offered. I don't begrudge them that after what they have done.

And let's be honest, after not paying a single transfer fee in the summer, it's not going to matter that much if we've suddenly got a theoretical 23M or 22M of investment available - it's a feck of a lot more than we've got now!

It looks to me like the deal will go through - I reckon this first offer will be turned down, MM will moan a bit in the media, say he's disappointed and might not make another bid, then he'll improve his bid and they'll probably take it. Normal takeover-type transaction, it's just that this one is done in the spotlight of publicity and is accompanied by the biggest load of misrepresentation, false assumption and knee-jerking you've seen in your life! :icon_roll :icon_lol:

That would be fine if they werent banging the 'best interests of the club' drum.

 

[homer]

Sadly being fuelled each and every day by both sides (and a truly hapless local media) - rumour, counter rumour, innuendo, half-truths, red herrings etc, etc.

Appalling stuff IMO

And here's some more:

"Mandaric told me: "I gave them the proposal and they have now come back to me. We will meet and they will tell me what they like about it, what they don't like about it, and we will try to find an agreement.
"If we do agree in principle then they will put that to the shareholders and, if there are any issues, hopefully everything will work out okay."
The amount of the bid has been questioned in some quarters, but Mandaric confirmed that the total figure of around £25m was "not far away" when all the elements, such as removing the millstone of the near £16m stadium debt and buying the shares, were tallied up.He said: "That was my bid to buy the club and that is what will be under negotiation. There will be discussions back and forward on the details and I am very hopeful agreement can be reached. If not, then the club will go away and consider any other options, but I feel very positive."
Mandaric's confirmation that the bid is £25m comes in the wake of a suggestion from the Foxes Trust that the figure is "significantly inaccurate".
In an email to its members, which was leaked to the media, the Trust said it hoped the bid would be "considerably improved". And Radio Leicester last night claimed that Mandaric's offer for the shares was £3m, half their worth."

http://www.thebluearmy.co.uk/details.asp?key=1D29|0|2185366269754|R|536|5243237112006376701131

The truth is out there.............(somewhere)

 

[OldGit]

I am not a shareholder in the club, but if I had had the resources at the time of the rescue, I probably would have been - as I suspect would quite a few people on here. Instead I did the next best thing - put what I could afford into the trust, as did many others.

I was however a shareholder of the previous company. When I made that "investment" I never really expected to get it back, or make anything out of it (and was extremely cross when they spent a fortune on sending me a 6d dividend). However, had someone come along and offered to buy the club with the intention of running it for a few years then getting out with a handsome profit, I think I would have expected to get a reasonable price for my shares.

It is not unreasonable to assume that most of the current shareholders would feel the same way. It is one thing to make a big investment in the expectation you would never see it again or any dividends paid, but quite another to give it away to someone far richer than yourself so they can make a very substantial profit out of it.

I am not opposed to the Mandaric bid as such, though like others I am cautious about welcoming it with open arms regardless of the terms (which of course none of us have any real idea about, despite all the assertions that keep appearing), but I do recognise thaqt the current owners have every right to ensure that any offer is right for the long term future of the club and fair to them.

 

[Melton Fox]

with melton in the 1884

No way, he hasn't got access to the secret entrance :icon_lol:

 

[OldGit]

What benefits? I seem to recall it was said when we came out of admin all directors and shareholders would pay for their tickets - perhaps the FT can advise us if that has changed. Otherwise it's a cup of tea and a biccy at half-time.

Or, if they prefer to buy a beer they get it in a glass instead of out of the bottle. And the free tea comes in a proper cup. That is a very considerable perk.

 

[Durham Fox]

And here's some more:

"Mandaric told me: "I gave them the proposal and they have now come back to me. We will meet and they will tell me what they like about it, what they don't like about it, and we will try to find an agreement.
"If we do agree in principle then they will put that to the shareholders and, if there are any issues, hopefully everything will work out okay."
The amount of the bid has been questioned in some quarters, but Mandaric confirmed that the total figure of around £25m was "not far away" when all the elements, such as removing the millstone of the near £16m stadium debt and buying the shares, were tallied up.He said: "That was my bid to buy the club and that is what will be under negotiation. There will be discussions back and forward on the details and I am very hopeful agreement can be reached. If not, then the club will go away and consider any other options, but I feel very positive."
Mandaric's confirmation that the bid is £25m comes in the wake of a suggestion from the Foxes Trust that the figure is "significantly inaccurate".
In an email to its members, which was leaked to the media, the Trust said it hoped the bid would be "considerably improved". And Radio Leicester last night claimed that Mandaric's offer for the shares was £3m, half their worth."

http://www.thebluearmy.co.uk/details.asp?key=1D29|0|2185366269754|R|536|5243237112006376701131

The truth is out there.............(somewhere)

So he has confirmed, he wants to remove the stadium debt...

The FT are a disgrace for emailing its members about the deal, wouldnt be suprised if they are in some rather hot water this morning.