Online petition calling for MM to step down

[From Gradel to Grave]

I always get mixed up between MA and RK. I should be more careful because it is a mistake I make time and again.

That's alright Redditch Fox. No-one minds.

 

[bocadillo]

That's alright Redditch Fox. No-one minds.

Thank you for that reassurance. Do I know you?




Could a mod please fix the quote for me.

 

[Jeff]

Could a mod please fix the quote for me.

 

[FantasyFox]

oh king of mongies.............so you're basing your argument on what someone might or might not have mentioned in a discussion on bbc radio 5 live... doh

PF...you couldn't be more wrong. I tend not to go for old fashined methods of forming arguments I like to freestyle. Use a bit of creativity and occasionally just repeat what some other Mongie has said. I like to take peoples opinions and then repeat them as though they are facts. I've found it works well on this forum but even I'm not bold enough to try and convince people that MM has spent 25M!!!!

They're not daft.

 

[psychotic.fox]

evenin all.............. sorry if it that i was trying to convince everyone that MM has spent 25 million quid. it wasnt a figure that i merely plucked out of thin air, it was a figure mentioned on this forum in post a couple of days ago originating from the observer newspaper .....

If Only They Knew Then What They Knew Now
From The Observer, August 5 2007:

'Let's face it, Milan Mandaric was always going to be a hit at Leicester City. Turn up at a club fresh out of administration with £25million in your back pocket, name-checking friends like the late, great George Best, and with a proven record of Premiership football - the fans are going to love you.'

cheers

 

[Boy Genius]

evenin all.............. sorry if it that i was trying to convince everyone that MM has spent 25 million quid. it wasnt a figure that i merely plucked out of thin air, it was a figure mentioned on this forum in post a couple of days ago originating from the observer newspaper .....

If Only They Knew Then What They Knew Now
From The Observer, August 5 2007:

'Let's face it, Milan Mandaric was always going to be a hit at Leicester City. Turn up at a club fresh out of administration with £25million in your back pocket, name-checking friends like the late, great George Best, and with a proven record of Premiership football - the fans are going to love you.'

cheers

And on top of that you were pissed as well last night

 

[bocadillo]

evenin all.............. sorry if it that i was trying to convince everyone that MM has spent 25 million quid. it wasnt a figure that i merely plucked out of thin air, it was a figure mentioned on this forum in post a couple of days ago originating from the observer newspaper .....

If Only They Knew Then What They Knew Now
From The Observer, August 5 2007:

'Let's face it, Milan Mandaric was always going to be a hit at Leicester City. Turn up at a club fresh out of administration with £25million in your back pocket, name-checking friends like the late, great George Best, and with a proven record of Premiership football - the fans are going to love you.'

cheers

The £25m figure was oft-quoted but long-discredited when it appeared in that article. I don't think anybody thought you had plucked the figure from the air - we have seen it so many times before.

 

[Doctor Foxster]

Be interesting to know what MM has actually had to spend. I suspect considerably less than £25M.

If I remember rightly, the cost of buying his shares depended on the length of time it took to get into the prem. By the time the club gets there (if ever), the deadline for paying the maximum will have passed, leaving Milan quids in.

Also,in my opinion, the expenditure on new players (DJ, Clemence, Howard etc) will have been done by instalments, with payments coming out of current revenue and secured against future turnover. Most other costs will be covered by revenue, leaving any shortfalls propped up by a bank overdraft/Bank Loan or top ups by MM.

MM may well have had to guarantee the clubs debt, but doubt whether he has had to personally put his hand in his pocket for a very large wedge of cash.

Isn't it marvellous to be able to talk balls!:icon_bigg

 

[psychotic.fox]

they say in business, you have to speculate to accumilate, and the more you spend, the better chances there are that you can reap good rewards. if this is true, then we should have been reaping the rewards of some success by now... so maybe that fiure of 25 million is probably much closer to about 13 pence if recent performance and position is anything to go by.

or is what ive just wrotr bollox again:icon_cry:

 

[DesertFox]

If I remember rightly, the cost of buying his shares depended on the length of time it took to get into the prem. By the time the club gets there (if ever), the deadline for paying the maximum will have passed, leaving Milan quids in.

I might be wrong but didn't MM pay ahead of schedule for something to do with previous shareholders fairly recently? An act of goodwill or summat?

 

[Foxes_Trust]

Figures - Facts as Known

- MM paid all shareholders 10% of their original shareholding at the turn of this year, so circa £640k

- At the Trust AGM, MM confirmed he had spent around £11m to date (end of Feb), that include 2 purchases of shares (£4.5m which was paid on time 31/5/7 & a further £4.5m due 31/5/8 but paid several months early for cash flow purposes - both payments were part of the takeover deal terms)

So that is £9.64m of the £11m accounted for, whether the rest was in terms of loans we can't be sure but that was his normal method at Pompey.

It is possible further money has been put in since, but nothing to that affect has been stated

 

[DesertFox]

Thanks FT.

 

[OldGit]

they say in business, you have to speculate to accumilate, and the more you spend, the better chances there are that you can reap good rewards. if this is true, then we should have been reaping the rewards of some success by now... so maybe that fiure of 25 million is probably much closer to about 13 pence if recent performance and position is anything to go by.

or is what ive just wrotr bollox again:icon_cry:

No "they" don't. Most of "them" that I know would say you have to invest carefully with a dilligent assessment of the levels of risk and potential return involved.

"speculate to accumulate" refers more to those who seek to raise capital from the gullible & greedy for projects that no serious investor would touch.

 

[FantasyFox]

"speculate to accumulate" refers more to those who seek to raise capital from the gullible & greedy for projects that no serious investor would touch.

Not sure about that. Isn't most people's interpretation of the phrase that in order to increase your wealth you need something to invest and in doing this you risk losing?

Not that it really matters, the original use of it was that the amounts involved were significant when a poor investment opportunity is still poor no matter how much is involved.

 

[OldGit]

Not sure about that. Isn't most people's interpretation of the phrase that in order to increase your wealth you need something to invest and in doing this you risk losing?

Not that it really matters, the original use of it was that the amounts involved were significant when a poor investment opportunity is still poor no matter how much is involved.

Can't speak for how most people may interpret it. The original post asserted that most business people operate by it. They don't - most invest carefully, rather than "speculate". In relation to the point under discussion - how much and how wisely had MM spent - it is a very important distinction.

Compare and contrast the approaches of various owners and football clubs.

 

[Melton Fox]

I love weird people.

 

[FantasyFox]

Can't speak for how most people may interpret it. The original post asserted that most business people operate by it. They don't - most invest carefully, rather than "speculate". In relation to the point under discussion - how much and how wisely had MM spent - it is a very important distinction.

Compare and contrast the approaches of various owners and football clubs.

Agreed and MM has a track record of making money from taking underperforming clubs with potentially large support and making them successful and then flogging them.

 

[Chrysalis]

I can't remember who said it. It was the Radio 5 Monday night programme last week, they were discussing the Premiership and someone brought up the subject of chairmen/owners interfering with the managerial side of the club, and Mandaric's name was mentioned as someone who does it.

Well at least this is some kind of substance to the claims. Obviously that player may have grievances with MM but I will accept what you said.

 

[Chrysalis]

The club also has far more debts and commitments, due to MM's signings and sackings. So if he continues like this, the longer he stays, the worse the financial position will become.

Do you really think we should be grateful to him for taking us to our lowest position ever?

Question for you, if the old board was in place when we got relegated would you have blamed them? Obviously I agree with the financial stuff our playing costs will have shot up under MM.

 

[Chrysalis]

Could you try again with this please, because it looks like bollocks as it stands.

I can spell it out if you like.

We were broke and about to do a house sale.