Read the Sunday Mirror today lads and lasses

[drew]

I have contacts at Pukkas, i'll do some digging.

 

[fcukcov]

I have contacts at Pukkas, i'll do some digging.

Do you have your fingers in a few pies drew?

 

[drew]

Many pies cov, hence my recent bid for the club....

 

[MUSSWELL_FOX]

On the Alan Brazil show this morning (Talksport) it was reported that Mandaric attempted to buy Ipswich, but was knocked back by them

 

[Steven]

Full report from the Mail:

Milan Mandaric is leading the race to become Leicester City's new owner, and could be in place as soon as this weeked if he can close a deal for the club in the next 72 hours.

The former Portsmouth chairman, who sold his stake in the south coast club last month, is likely to formalise a £25m offer for the Foxes in the next three days. The Serbian businessman has arrived at the negotiating table ahead of his rivals, believed to be based in America, and is keen to maintain his involvement in football.

For their part, Leicester have complied with the terms of their administration after they collapsed owing more than £50m three years ago.

The current board, eager for new investment, have been listening to offers since the summer.

Mandaric has been seeking a new challenge in the game since handing over control of Pompey to Russian Alexandre Gaydamak.

He had previously been interested in taking over at Ipswich Town. However, that deal stalled and he has switched his attention to the east Midlands' club.

Any potential offer is likely to include £15m to buy back the freehold of the Walkers Stadium from its' American owners Teachers, who currently lease the ground back to the Foxes.

The remainder of the money will be used to purchase the club and strengthen the team during the coming six months.

The position of manager Rob Kelly, who has shown considerable promise working with a limited budget, is expected to be unaffected if Mandaric takes over.

A statement released by Leicester read: "We can confirm that the club has been actively looking at methods of generating new investment.

"Discussions have been held with a number of interested parties, and the board is currently considering a variety of options. "The club will communicate further with shareholders, supporters and staff as soon as is practicably possible."

 

[bocadillo]

On the Alan Brazil show this morning (Talksport) it was reported that Mandaric attempted to buy Ipswich, but was knocked back by them

Mandaric certainly seems to have a feeling for blue. We have that much in common.

 

[Melton Fox]

I don't like this stadium buying business.

15 mill for the stad, an unknown figure for buying out the current regime. That can't leave a lot for players, Shirley?

My only hope is that come Jan, he digs further into his pocket. I see no reason why he won't, (x) mill for buying the club, I'm certain he will have put some money in reserve for initially running the club

 

[Durham Fox]

I don't like this stadium buying business.

15 mill for the stad, an unknown figure for buying out the current regime. That can't leave a lot for players, Shirley?

My only hope is that come Jan, he digs further into his pocket. I see no reason why he won't, (x) mill for buying the club, I'm certain he will have put some money in reserve for initially running the club

The thing is it's a great price for a stadium that cost £35m to build a few years ago. A bargain you might say. That still leaves £10m and its not going to cost much to buy out the current shareholders, £4m??

£6m is plenty initially to add to an already promising squad! I thin the good think about having someone like Mandaric though is that the money isnt always spent. If we need a loan signing to pep things up then he might dig deep unlike now when we have what we have and thats it.

 

[Steven]

I don't like this stadium buying business.

He would be better paying some of it off and refinancing the other.

 

[OldGit]

He would be better paying some of it off and refinancing the other.

That can't be true - it was in the Daily Mail

 

[Melton Fox]

The thing is it's a great price for a stadium that cost £35m to build a few years ago. A bargain you might say. That still leaves £10m and its not going to cost much to buy out the current shareholders, £4m??

£6m is plenty initially to add to an already promising squad! I thin the good think about having someone like Mandaric though is that the money isnt always spent. If we need a loan signing to pep things up then he might dig deep unlike now when we have what we have and thats it.

Indeed it is a good price, but no doubt a Ferrari Enzo for £25,000 is a good price, but I can't afford it and would be better off spending my money elsewhere

 

[fcukcov]

The thing is it's a great price for a stadium that cost £35m to build a few years ago. A bargain you might say. That still leaves £10m and its not going to cost much to buy out the current shareholders, £4m??

£6m is plenty initially to add to an already promising squad! I thin the good think about having someone like Mandaric though is that the money isnt always spent. If we need a loan signing to pep things up then he might dig deep unlike now when we have what we have and thats it.

I agree with you duzzer, buying the stadium for 15mill is a bargain. I reckon the current regime will want at least the 5 mill back they payed for the club and then that will leave 5mill up front for players which will be fine until next summer.

 

[OldGit]

But something has to be done about the stadium at some point in the not too distant future. The £1m being paid to Teachers each year while we are in the championship, apart from being a significant part of the budget, does not even service the debt, so it is steadily increasing. At some point that must become unsustainable, leading us back into the mire.

I'm sure those in the know will have done the sums.

 

[Lboro fox]

He was not seen at the office today and has taken the next three days off. The explanation is "And the reason he's not attending is because he's at the Walkers".

Do you work at Pukka pies? Do you get free pies?

 

[KLFox]

I think if the stadium is bought back under control to LCFC and we increase attendance by getting a better team, playing better football then that will only increase the money that the club retains.

No interest on the ground higher attendance = quid’s in Even more money to build up the squad not servicing debts.

 

[Durham Fox]

I've heard a whisper that neither bid for investment will involve buying the stadium back straight away.

 

[Melton Fox]

I've heard a whisper that neither bid for investment will involve buying the stadium back straight away.

:icon_wink I know, that is what I've been trying to say. It is very bad business sense to buy it

 

[Yorkshire Vixen]

:icon_wink I know, that is what I've been trying to say. It is very bad business sense to buy it

it would be a waste of cash when it can/should be used towards the playing side

 

[Melton Fox]

it would be a waste of cash when it can/should be used towards the playing side

At last, somebody agrees with me. It would be a cash flow nightmare. You never tie up all your cash because you never know what extra special amazing offer is just around the corner. If you've got no cash, you can't take advantage of it

 

[Durham Fox]

Isnt it like paying off a credit card balance with minimum payments from you savings?