Official Statement - Taylor Steps Down

[bocadillo]

Agreed, allthough I do not believe that the remaining board members think that this is a good deal want to push ahead with it, more that they just want out the quickest way possible.

I accept what you say completely. I am concerned that the power of those who 'want the quickest way out' will prevail over those who 'want to protect their reputation'.

 

[drew]

Do we know that the guarantees from the current board are as to keeping us still in business in 3 or 4 years time?

This question has been consistently dodged. MM has to provide safeguards but our board don't.

 

[Yorkshire Vixen]

this is doing my head in with everyone guessing it would be nice to have some concrete news..wheres bob h when you need him :icon_sad:

 

[BOB HAZELL]

The FT has done for transparency what King Herod did for child care.

Quality, RF.....:icon_lol: :icon_lol: :icon)lol:

 

[fosseman]

It's a business. Things can't be guaranteed. If MM doesn't come in quickly, there will be no club left to support.

 

[PFKAKTF FOX]

My understanding (for what is worth) is that the clubs debt is manageable this season and rumours that we will go into admin if MM doesn't come in are wrong.

We would however, have to sell players in the summer (Stearman, Hume, Fryatt, Logan, McCarthy, Kisnorbo, Porter etc - although not all of them!) if RK wanted to bring players in.

The sum is that with MM we wouldn't have to be a selling club and without him we would (as most teams in this division do) sell players to help finances and bring in new (cheap) players, unless another benefactor like MG came in as a replacement.

Cheers for that Dunc, personally I would much prefer MG comig back than progressing with MM, if was an option.

 

[BOB HAZELL]

Well nobody has, since it has changed again.

So all previous details posted are not relevant now.

Which is why we have said all along, only when we have the document in our hands will we make our decision.

(not read thru this thread - at 369 - yet so this might backfire but....)

So, are you saying that even though the board have approved, you're not prepared to back their judgements...?????

 

[Graz]

This is making me go crazy... I wish I could ignore it all until it's over, but I keep on reading for some reason!


It's crazy, we've got almost 50 pages (plus all the other threads) of just complete rumour and speculation and "from what I've heard"s... seriously, there must be about half the people in this thread at least who all think/claim they have some sort of connection within the club... and yet they all contradict each other!


The only fact we know is that 3 board members have stepped down... All the rest is just speculation?

 

[Real Sharapova]

This question has been consistently dodged. MM has to provide safeguards but our board don't.

But we do have a working assumption that they will not load us with unsustainable debt - what MM proposes to do in the future is anybody's guess. I can't believe people are talking about possible administration now, but believe it would be less likely if we were saddled with further debts run up by MM.

 

[bocadillo]

AT wasn't trying to get more from the deal, he was simply trying to keep to the original deal.

You're splitting hairs. AT wanted more from the deal than is now being offered.

 

[BOB HAZELL]

Or could be that he sniffs a rotting corpse, and wants to pay what it's worth

Or that he's a feckin' shrewd cookie and knows that we'll sell at any price 'cos we're desperate

Valid points....either/both make sense to me.

 

[BOB HAZELL]

I know believe that with the transfer window closed that without MM administration would have been inevitable.

FACT.

Spot on, PFKA - regardless of what some, FT et al, will now inevitably say against this.

 

[Dunc]

It's a business. Things can't be guaranteed. If MM doesn't come in quickly, there will be no club left to support.

Complete rubbish.

 

[Redditch Fox]

I have massive concerns especially now that 3 Directors have resigned, I also have genuine fears that the club have seriously miscalculated MM and have played into his hands, we have no way of generating quick cash into the club now that the transfer window has closed and I fear that this was the clubs only barginning tool in the fact that they could sell some assets to survive or to delay a decision / review other options.

My only hope is that the three directors who have resigned have done this so they can mount a rival bid for the club , hopefully including Martin George, I know it is a long shot but I find it difficult to believe that they will have abdecated responsibility so easily especially if it was detrimental to the club.

It's all guess work but my reading is:

1. If MM comes in the present lot will be sidelined - and that will be an enormous plus.
2. If the present lot continue with their shambles both on and off the pitch then they will seek to avoid administration by selling off what few quarter decent players we have.
3. If the people to whom you refer had intended to throw more money away on Leicester City for the thrill of ownership then they would probably have done so before now.
4. MM is far too shrewd for the feeble bunch running the club so of course he will out manouvre then - and he doesnt need Bill Anderson to do that.
5. The MM offer for the club will be derisory because the club is in a wretched state cos it left Administration without much cash and the bunch running it since aren't exactly top drawer.
6. If they have any sense they will accept the offer and exit stage left.

 

[Dunc]

It's all guess work but my reading is:

1. If MM comes in the present lot will be sidelined - and that will be an enormous plus.
2. If the present lot continue with their shambles both on and off the pitch then they will seek to avoid administration by selling off what few quarter decent players we have.
3. If the people to whom you refer had intended to throw more money away on Leicester City for the thrill of ownership then they would probably have done so before now.
4. MM is far too shrewd for the feeble bunch running the club so of course he will out manouvre then - and he doesnt need Bill Anderson to do that.
5. The MM offer for the club will be derisory because the club is in a wretched state cos it left Administration without much cash and the bunch running it since aren't exactly top drawer.
6. If they have any sense they will accept the offer and exit stage left.

Spme decent points, but yet again its all pro MM without any thought as to what he is proposing other than a takeover.

If the proposal leaves the clubs future in jeopardy then why would be sensible to accept a crap offer and leave the clubs future in the balance?

IMO selling players and balancing books is what Leicester City has done for the majority of its history and is in no way a wretched state to run a club, its a reality for most teams outside the Prem

 

[BOB HAZELL]

Have to say, I'm starting to get uneasy about all this.

James Johnson, Andrew Taylor and Greg Clarke have all resigned from the board because, apparently, they cannot support the takeover. Three smart enough men who've demonstrated their support for the club over the years.

The Foxes Trust have never been positive about it. They may be a rather amateurish set-up, but they have the clubs interest at heart.

MM keeps changing his offer downwards and then moaning about it taking so long. We must be very close to going bust for this to happen. We have our mortgage on the ground and an allowed £2.5m overdraft. We must be exceeding this with our losses this season. If other shareholders are not prepared to cover the excess debt (and with a takeover on the table, why would they), we're done for.

A Pompey fan at a Q & A with Harry Redknapp last week, when asked about MM said, "I spoke to him yesterday, he's getting cold feet about Leicester as he thinks he may have to put some of his own money in".

It's all starting to stink a bit.

Some sense in that, BN. And I agree it does stink.

They are 3 smart enough men - maybe they'll wait for the death of the club i.e. Admin; then they can buy it for themselves (cheaper than what MM is now offering , might I just add!!) together with all the other 'investors' that have been queuing up to buy it.....

 

[Dunc]

Some sense in that, BN. And I agree it does stink.

They are 3 smart enough men - maybe they'll wait for the death of the club i.e. Admin; then they can buy it for themselves (cheaper than what MM is now offering , might I just add!!) together with all the other 'investors' that have been queuing up to buy it.....

You might be right, but I'm not convinced that we would go into admin if MM doesn't come in.

Nothing I've heard (apart from scaremongering from the usual places) has indicated this.

 

[Real Sharapova]

You might be right, but I'm not convinced that we would go into admin if MM doesn't come in.

Nothing I've heard (apart from scaremongering from the usual places) has indicated this.

100% right - if the financial situation is that bad, surely we would have sold more than Williams this January - and not taken three players on loan.

 

[BOB HAZELL]

Mmm....the messages that are sent out from the board room are ones of total disarray.

I can't believe that all this doesn't stem from the club being in an even weaker financial state than everyone feared.

If ever a club needed a fresh management this is it.

All we ever hear is stuff about how many years directors have been loyal City supporters or what nice people are managing the club...and I bet they are really great when it comes to looking after the family pet etc. In the meantime the club is like a stranded whale dying on the beach.

How many more months can things continue like this before the whole thing finally implodes?

Nail, head and hit, RF.

 

[1966]

I accept what you say completely. I am concerned that the power of those who 'want the quickest way out' will prevail over those who 'want to protect their reputation'.

It is what I think we will end up with though.