Milan offered ?3 million?

[DesertFox]

Who would you rather came out on top in this deal (I'm completely in favour of MM by the way) - a Serb-American businessman well known for being extremely wealthy and being a Portsmouth fan, or the people who cared enough, and more to the point, had some dough at hand, to help LCFC when it needed it most?

There's no guarantee that MM would reinvest the extra cash he made by getting a gunga deal from the shareholders, and who knows when we might need these shareholders again in the future? I want them to be happy City fans, on our side and with a bit of cash n the bank... just in case!

 

[Steven]

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.

So who will reimburse him (MM) for the liabilities that he will takeover?

 

[Jeff]

So who will reimburse him (MM) for the liabilities that he will takeover?

He's be taking on a club with huge potential to make himself some money if we get promoted. He'll be reimbursed more than adequately if he's successful.

 

[Dour]

So who will reimburse him (MM) for the liabilities that he will takeover?

The company has net assets, not net liabilities.

 

[OldGit]

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.

They must have missed me out of the circulation then! The only e-mail I have received was the one discussed ad nauseam elsewhere on the forum by people who have not in the main seen it. It contains no information about the bid - or any other bid from any other party.

 

[Durham Fox]

They must have missed me out of the circulation then! The only e-mail I have received was the one discussed ad nauseam elsewhere on the forum by people who have not in the main seen it. It contains no information about the bid - or any other bid from any other party.

Apologies, the Mercury are claiming the FT stated the £25M quoted was 'significantly inaccurate'

 

[step]

All this talk about the smaller the price Mandy has to pay, the more he can spend on the club is missing a point here. The less he has to pay, the bigger the profit he will make when he sods off to another football club. So, it's OK for him to make a profit on his investment, but it's not OK for the original investors who saved our club to get their money back. Absolutley illogical, and more cow-towing to the Leicester Mandaric spin machine.

i agree and the quicker he can turn the investment into a profit, the quicker he will be of, with a wedge in his back pocket and the quicker he goes the worse our long term future will be

 

[fcukcov]

i agree and the quicker he can turn the investment into a profit, the quicker he will be of, with a wedge in his back pocket and the quicker he goes the worse our long term future will be

Oh the nasty rotten scoundrel.

 

[1966]

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.

He could also buy the club for a fraction of it's real value and sell it on almost immediately and walk away with £2/3m profit. Now theres an idea.

 

[1966]

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.

Agreed, 100%.

 

[homer]

He could also buy the club for a fraction of it's real value and sell it on almost immediately and walk away with £2/3m profit. Now theres an idea.

Assuming he could find a buyer, of course.....

 

[1966]

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.

I think they do pay for their own season tickets.

 

[1966]

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:

Well said!

 

[The Voice From Above]

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.

 

[1966]

Assuming he could find a buyer, of course.....

We're always hearing of dodgy ruskies or arabs floating around, maybe it's all about the circles you move in.

 

[The Voice From Above]

Assuming he could find a buyer, of course.....

He may already have one for all we know....

 

[homer]

He may already have one for all we know....

Now I see it

Milan buys the club for £3 million, as it's the only genuine offer on the table for the shareholders to take
He then sells it to the bloke from the Tigers for £6 million - and nobody can stick their oar in 'cos it belongs to Milan and no one else
Tigers bloke goes in over Christmas and paints all the seats red white and green
City start off the new year playing at Welford Road on a Friday night (to avoid the congestion for Tigers fans on a saturday afternoon)

It was obvious, really - can't believe it took us so long to see it

 

[The Voice From Above]

Now I see it

Milan buys the club for £3 million, as it's the only genuine offer on the table for the shareholders to take
He then sells it to the bloke from the Tigers for £6 million - and nobody can stick their oar in 'cos it belongs to Milan and no one else
Tigers bloke goes in over Christmas and paints all the seats red white and green
City start off the new year playing at Welford Road on a Friday night (to avoid the congestion for Tigers fans on a saturday afternoon)

It was obvious, really - can't believe it took us so long to see it

We jest.... but actually something like this could happen. Which brings us back to the point being made about getting some assurances from the bloke before we snatch his hand, arm, shoulder and shoulder blade off..

 

[SilverFox]

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.

Do it webbo!:icon_lol:

 

[harry]

Well said!

What Milan is offering for the shares has got sweet FA to do with the football club. This is simply how much of their cash the shareholders get back. (Gary in his article said he never expected to see his again and I guess there would be others that feel the same). Many of the the bigger investors will of course want most of theirs back plus there are those shareholders who being board members would also be giving up the privileges that go with being directors. Free seats home and away including any functions held at the Walkers. That might take a bit of doing..........

What I am more interested in as a fan is how much and what guarantees are there regarding the addition funds to acquire the stadium, buy players etc. None of this has so far been mentioned by the FT or anyone.

If all these details were agreeable to the shareholders that consider themselves fans and it meant only 80p in the £ for their shares, would they accept it for the sake of the club? If not then they are not true fans.

I gave up my cash as did a lot of others when we went bust.....................