The Board

[bocadillo]

For a £1m you would be able to negotiate the purchase of share capital from either a current shareholder or for the club to consider the issuance of new capital.

For that sort of figure you could most likely place a condition of your "donation / investment" that it comes with a seat on the Board or one of the VP positions if thats what you wanted.

Completely wrong. The club was set up after administration in such a way that nobody can own more than £½M worth of the shares in the club - and this figure carries no guarantee of a place on the board. It is widely known that some of the present board, including the chairman, do not own shares up to this maximum - and, I believe, that there are people who do own the maximum who are not board members.

Nobody can 'invest' £1 million in shares in the club. It would need 75% of the current shareholders to agree to a change in the company's articles before an 'investment' of this size could be allowed. Such a change would, of course, have a diluting effect on their own shareholding, so some might wonder whether 75% of the current shareholders would want to vote for it.

It is my concern and the concern of others that this will long continue to have a limiting effect on the club's future.

 

[bocadillo]

Exactly.

You will never make any money by investing in a football club. Its ok asking for the board to go but unless you find someone who is willing to give there money away we have little or no choice but to accept what we have.

Does anyone have Tim Davies' or Andrew Taylors email address. PM if you have please

The email addresses of people at the club are no secret. They take the form of [email protected]

 

[mitcho_uk]

Thanks

 

[blue]

Completely wrong. The club was set up after administration in such a way that nobody can own more than £½M worth of the shares in the club - and this figure carries no guarantee of a place on the board. It is widely known that some of the present board, including the chairman, do not own shares up to this maximum - and, I believe, that there are people who do own the maximum who are not board members.

Nobody can 'invest' £1 million in shares in the club. It would need 75% of the current shareholders to agree to a change in the company's articles before an 'investment' of this size could be allowed. Such a change would, of course, have a diluting effect on their own shareholding, so some might wonder whether 75% of the current shareholders would want to vote for it.

It is my concern and the concern of others that this will long continue to have a limiting effect on the club's future.

 

[Ox Fox]

Completely wrong. The club was set up after administration in such a way that nobody can own more than £½M worth of the shares in the club - and this figure carries no guarantee of a place on the board. It is widely known that some of the present board, including the chairman, do not own shares up to this maximum - and, I believe, that there are people who do own the maximum who are not board members.

Nobody can 'invest' £1 million in shares in the club. It would need 75% of the current shareholders to agree to a change in the company's articles before an 'investment' of this size could be allowed. Such a change would, of course, have a diluting effect on their own shareholding, so some might wonder whether 75% of the current shareholders would want to vote for it.

It is my concern and the concern of others that this will long continue to have a limiting effect on the club's future.

Thanks for that - that's just my concern too, if I understand it correctly if someone wanted to put in a 'medium' size amount of money like £1m the structure of the club means it wouldn't really be possible.

We're going nowhere fast in other words unless, by a miracle, someone wants to buy all the shares as they wouldn't be allowed to become a majority shareholder under the club constitution.

So you can buy the lot or such a small piece your cash wouldn't get you anything really, except a free seat as a Vice President or something.

 

[bocadillo]

TBH I'm neither particularly for the Trust or anti the Trust, but I know how you feel. I've done my share of voluntary/charity/committee/getting involved type things, and it only takes a few brief moments before people start sniping randomly from the sidelines. The favorites are:

"you're incompetent"
"you like the sound of your own voice"
"well, you only do it for the *** (pervcieved benefit)"

99% of these comments are absolute bullshit. :icon_roll

So my advice to those who a) think they can do a better job and b) claim to care enough would be c) go and do the fecker yourselves!

Go on, do it - spend your own precious free time working for the benefit or others because it's a cause you're passionate about, whilst said others are off down the pub making snide remarks. I can guarantee you, you'll never make these kind of comments again. You'll soon be thinking "what a bunch of ungrateful c**ts." I know I did, and these were people I actually liked only a few weeks before I started.

Whether they do a good job or not is not for me to say, but fair play to everyone at the Trust - you care enough about LCFC to actively get involved, and for that I respect you.

So I say: Give the Trust a break - THEY ARE TRYING TO HELP - shit, they actually are helping!

Here's an interesting idea: when you reply saying "well I think they're doing a crap job, and they should have done this, and they should have done that"... just pop a little line at the bottom of the post to say exactly how YOU help LCFC, above and beyond the usual pathetic cop out of "I'm a paying customer, so I can say and do whatever I want".

Go on, dares you, you bunch of work-shy ingrates! :icon_wink

Your gratuitous and offensive insult at the end of the post lessens its impact in my mind.

I think you need to ask yourself whether the Trust is actually doing a job that needs doing. If you decide it isn't a necessary job, it may then be unnecessary to be at all concerned about how well they are doing it. Unless, of course, the incessant trumpeting of the Trust spurs a person to speak - and this is where I find myself being drawn in.

The Trust was born out of the buckets being rattled in front of people's faces when the Club fell into administration. It is my belief that most of the money that was put in the buckets was not so much because of supporters' wish that a Trust be formed, much more as a donation to try to ensure the future of the Club and the continuance of their bi-weekly footballing-habit. Thus the Trust got a 'good start' not because people wanted a trust, but becaause they wanted Leicester City. They could just have easily donated their cash straight to the Club and the Trust would not be able to go on about being the biggest etc - they got this tag not on their own merits, but on account of the desperate situation of the Club and their speedy exploitation of the situation.

I would have far more respect for the Trust if they had been formed before the Club went into administration.

 

[blue]

Completely wrong. The club was set up after administration in such a way that nobody can own more than £½M worth of the shares in the club - and this figure carries no guarantee of a place on the board. It is widely known that some of the present board, including the chairman, do not own shares up to this maximum - and, I believe, that there are people who do own the maximum who are not board members.

Nobody can 'invest' £1 million in shares in the club. It would need 75% of the current shareholders to agree to a change in the company's articles before an 'investment' of this size could be allowed. Such a change would, of course, have a diluting effect on their own shareholding, so some might wonder whether 75% of the current shareholders would want to vote for it.

It is my concern and the concern of others that this will long continue to have a limiting effect on the club's future.

BOC - I dont think I said invest £1m in shares but nothing is stoping you from donating part of the sum (and part taken up in acquisition of shares - new or otherwise) if thats what you choose to do - in line with the articles of memorandom (of which I have a draft copy) you need a 2/3 majority and not a 3/4 as you suggest. You are right it is unlikely that shareholders would vote to change the rules but its a fair question to ask why that is.

 

[bocadillo]

Thanks for that - that's just my concern too, if I understand it correctly if someone wanted to put in a 'medium' size amount of money like £1m the structure of the club means it wouldn't really be possible.
.

I suppose there is nothing to stop you just giving £1M to the club. What you can't do is to have £1M worth of the shares in exchange.

We're going nowhere fast in other words unless, by a miracle, someone wants to buy all the shares as they wouldn't be allowed to become a majority shareholder under the club constitution.

So you can buy the lot or such a small piece your cash wouldn't get you anything really, except a free seat as a Vice President or something.

No, it's not possible for a person to buy all of the club either. Nobody can own more than £500,000 of the share capital without a change in the rules.

 

[bocadillo]

BOC - I dont think I said invest £1m in shares but nothing is stoping you from donating part of the sum (and part taken up in acquisition of shares - new or otherwise) if thats what you choose to do - in line with the articles of memorandom (of which I have a draft copy) you need a 2/3 majority and not a 3/4 as you suggest. You are right it is unlikely that shareholders would vote to change the rules but its a fair question to ask why that is.

What you said can be seen here. I'm not impressed by your wriggling.

If the majority vote for amending the articles is 66.6% rather than the 75% that I suggested, I apologise for misleading people on this. It was the figure that I thought the FT had quoted in the past, but I may well be wrong. In any case it is more than a simple majority and would seem to have the effect of maintaining the status-quo rather than anything else. I note that you say that you have a draft copy of the Articles of Memorandum - are you sure that draft was the one that was finally adopted?

 

[Foxes_Trust]

its not the way the trust is ran its the way you come over as if your god that what alot of people dont like you go onto forums trying to get members to join FFS ,my fathers family has been on the board of directors at LCFC now for more than 20 years im not going to name there names as its up to them not me

you do piss alot of people off me included

I'm not pulling my own strings or anything Ive never posted about my family connections at the club before and i will not talk about them again ,they are there and have been for a long time now,end of

None of the Trust board is driven by their own ego, we try to share information about the club which may not otherwise be available, it is one of our roles to keep the fan base informed. The problem is that often that information is not what fans really want to hear, but we all need to know the situation the club faces.

Well I think you need to clarify something.

No-one on the current board has been an LCFC Director for 20 years????

 

[Foxes_Trust]

At the end of the day our Board is shite ,no ambition. all it is to them is a
business. I thought it was about football, but all it seems to be about these days is balancing the books.In my mind the board dont give 2 f*"ks about this club.

That's not true - having gone bust once, their first concern is the continual survival of the club and hence a cautious approach, surely we all want a club to support in the years ahead?

Any company facing reduced revenue of £7m is going to notice it & have to change it's approach accordingly.

They don't have a row of £50 note money trees to pick from

 

[Foxes_Trust]

I heard from inside the club that Jo was actually appointed by Teachers, who own the ground, to oversee the running of the club. She was not wanted by TD or Jim Machill as i understood it.

Total rubbish, Teachers do not run the club, it was a board decision to seek someone to be a Commercial Director. Board members did the interviewing not Teachers.

We do need to maximise revenue, and grow non-match revenue by utilising the facilities as much as possible all year round, that is the CD's brief

 

[Foxes_Trust]

my dad is a member of the foxes trust and has never been consulted on anything. my guess is your average FT member has the same influence over the running of LCFC that your average Labour party member has over the running of the country.

Does he have e-mail?

The vast majority of consultation is done electronically to minimise cost & to enable views to be gathere quickly. For non e-mail members, we would welcome letters giving opinion on any issues

 

[blue]

What you said can be seen here. I'm not impressed by your wriggling.

I wont lose any sleep.

 

[SilverFox]

Keep it up FT! You do what you can and most people respect that.:icon_wink

 

[Jedi]

The only way out for Mr Davies and co is to put the club up for sale, there is no way they will succeed. I've always been a believer that 'fans' owning clubs is a bad thing unless they have a major investment to make, as we all know Mr Davies recouped most of his investment during our relegation season in bonuses. Will he return the cash to solve our weakness down the left hand side? No.

I have no belief that the current regime will take us back to anywhere near where a city the size of ours demands.

The continuous half baked ideas about name changes, what should be played before kick-off, giving away flags, ground shares and failed concerts are a just a list of more embarrassments to add to the 'cheat' jibes which we suffered in our only successful season under them.

The only things certain about them is that they will let Kelly take the flak as they did with Adams and Levein.

The trouble is nobody wants to buy us! We don't have a queue of self made business men wanting to put money in the club.

Leicester is a big club in a fairly big city but we are not attractive for outsiders!

 

[SilverFox]

The trouble is nobody wants to buy us! We don't have a queue of self made business men wanting to put money in the club.

Leicester is a big club in a fairly big city but we are not attractive for outsiders!

What about the former chairman who sold all his shares in Weetabix last year. Made him somwhere in the region of £100,000,000.00

That is a fair old amount of money, more than anyone can spend in a lifetime. Sounds to me like he could use a hobby:icon_wink

 

[Jedi]

Thanks for that - that's just my concern too, if I understand it correctly if someone wanted to put in a 'medium' size amount of money like £1m the structure of the club means it wouldn't really be possible.

We're going nowhere fast in other words unless, by a miracle, someone wants to buy all the shares as they wouldn't be allowed to become a majority shareholder under the club constitution.

So you can buy the lot or such a small piece your cash wouldn't get you anything really, except a free seat as a Vice President or something.

I don't think the club would turn away people wanting to make donations rather than investments but clearly the share structure means no shares would change hands. One of my clients has made such an investment and actually turned down a place on the board.

Anyone making an investment wouldn't see any return in the short to medium turn!

 

[Jedi]

What about the former chairman who sold all his shares in Weetabix last year. Made him somwhere in the region of £100,000,000.00

That is a fair old amount of money, more than anyone can spend in a lifetime. Sounds to me like he could use a hobby:icon_wink

Yes but that is the trouble he has made all that money and doesn't want to see it wasted! We are crying out for someone who can afford to say goodbye to £20m because he loves the club. No one in their right mind would invest money in football club for business purposes.

 

[SilverFox]

Yes but that is the trouble he has made all that money and doesn't want to see it wasted! We are crying out for someone who can afford to say goodbye to £20m because he loves the club. No one in their right mind would invest money in football club for business purposes.

20mil is a drop in the ocean to someone with over 100mil.

Trouble with this club is that it is impossible to take over!