The Board

[Foxes_Trust]

Answers

1. Has been discussed, but doesn't appear to be favoured by key personnel within the inner circle.

Something that has long been forgotten is that when the club went into administration, so many fans were passionate about MG not being involved in any new set up, as he was on the board when it went under.

When the Trust held its launch meeting, this was a point made most strongly by numerous fans & we fed that back to the new consortium when they looked at the make up of the board.

 

[Jeff]

this is the first time i can remember in my time supporting the club that we have not spent a transfer fee on a single player over the summer.

The same thing happened 4 years ago. The only players we signed that summer were McKinlay and Summerbee, both for free, and we couldn't even afford to pay them any wages!


There was a lot of squad rebuilding done last season, not many players left in the summer, and if the results towards the end of last season are anything to go by, we'd already got a decent squad and there shouldn't have been a need to buy new players.

So rather than concentrating on the lack of spending, we should be asking why the players who took us on that good run last season don't look anything like as good so far this season.

 

[Foxes_Trust]

Could the Trust or anyone tell me if someone did have say £1m going begging what would they get for their money by investing at LCFC? Would they have any influence on the organisation of the club at all, could they say they want to see new players bought with a proportion of their investment for instance?

They couldn't obtain £1m shares under the current constituion, they could obtain about £600k, could always loan the rest or find another way of putting it in (so maybe they could say they wanted no return & make the £400k available only on the basis of squad additions)

The board/shareholders would have to decide. In theory its a shareholder vote to change the board, but this didn't happen with the new chairman, it became a rubber stamp exercise instead.

 

[Foxes_Trust]

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

We nearly were...

The leaflets advertising the open meeting to agree to forming a Trust were given out on the home game prior to administration being announced on the Monday.

The leafets talked about pooling existing share holdings with the aim of getting a minimum of 10% of the total shareholding proxied to the Trust, meaning we could then force an EGM to be called.

The announcement came as a complete shock & meant the Trust then had to work to a totally different agenda & in the first months that was raising cash to ensure survival

 

[Foxes_Trust]

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.

Most large Trusts happen through adversity, such as AFC Wimbledon & the Man Utd Trust originally formed to block Murdoch & then Glazier.

Wouldn't argue about the donations comment, the Trust numbers halved in the 2nd year for exactly that reason & that is consistent with other crisis born Trusts.

The club/consortium couldn't take small donations, so fans were directed to put their money into the Trust.

 

[Foxes_Trust]

Is that why we wont pay £200,000 to sort the ground out so you can have live music there! Im sure you would cover the costs in the first year :icon_roll

That's far from certain, many concerts are only breaking even & it depends if the club minimises risks & hires the venue out to a promoter or does the PR itself (which it didn't do well for the cancelled concerts)

 

[Bobby Smith]

That's because the financial situation is tight now with £7m less revenue & falling crowds year on year.

That's not strictly true is it? Surely any possible summer transfer money (Connolly extra £1M) was spent on cancelling the contract of Mr Levein. This was the boards mistake, they hired him and they fired him, their mistake. If that money had been spent on players during the closed season who knows what the attendances may be (500 down not 4,000?).

I admit that the current owners had a rough start and rightly or wrongly I give them credit for our promotion to the Premier League but didn't they dip into the pot at that stage? Maybe too early? If I remember correctly (This could be completely wrong) Mr Davies took the equivelant value of 1,000 season tickets in bonuses, quite ironic after last months patronising plea in the Mercury.

I really hope they get lucky with RK because there seems to be no other plan in place to get this club back into a reasonable position.

 

[Steven]

That's not strictly true is it? Surely any possible summer transfer money (Connolly extra £1M) was spent on cancelling the contract of Mr Levein. This was the boards mistake, they hired him and they fired him, their mistake. If that money had been spent on players during the closed season who knows what the attendances may be (500 down not 4,000?).

I admit that the current owners had a rough start and rightly or wrongly I give them credit for our promotion to the Premier League but didn't they dip into the pot at that stage? Maybe too early? If I remember correctly (This could be completely wrong) Mr Davies took the equivelant value of 1,000 season tickets in bonuses, quite ironic after last months patronising plea in the Mercury.

I really hope they get lucky with RK because there seems to be no other plan in place to get this club back into a reasonable position.

There are rumours that a similar mistake is going to happen soon as the Board are getting twitchy about the current situation. Rumours remember. It could be that RK might stay and that extra money might be spent on getting extra personnel in or that RK is on his way out. These rumours come from a poster on another forum that has a good recent track record. :icon_sad:

 

[PFKAKTF FOX]

There are rumours that a similar mistake is going to happen soon as the Board are getting twitchy about the current situation. Rumours remember. It could be that RK might stay and that extra money might be spent on getting extra personnel in or that RK is on his way out. These rumours come from a poster on another forum that has a good recent track record. :icon_sad:

Which forum is that from Stevo ???

Any chance of posting the rumour ??

 

[Durham Fox]

The only worthwhile thing Ive seen on foxes talk...

 

[newtonfox]

Which forum is that from Stevo ???

Any chance of posting the rumour ??

come on steven post a link :icon_wink

 

[Steven]

come on steven post a link :icon_wink

When it stops being a rumour and becomes something more concrete then I will post a link. Still just a pie in the sky rumour.

 

[SilverFox]

There are enough businesses in Leicester for someone to have an interest in the place. Otherwise we wouldn't bother with the freekin corporate hospitality.

SOC

Save our City!

 

[Ox Fox]

There are enough businesses in Leicester for someone to have an interest in the place. Otherwise we wouldn't bother with the freekin corporate hospitality.

SOC

Save our City!

Following the success of "we're in the shit together" will we have "put a SOC in it" as next seasons rallying call?

 

[pds]

I see

Keep The Faith is the headline on the back of the Mercury again tonight.
I really hope it doesn't make a full time return into the Leicester City vocabulary.

 

[bocadillo]

I see

Keep The Faith is the headline on the back of the Mercury again tonight.
I really hope it doesn't make a full time return into the Leicester City vocabulary.

The Mercury should be ashamed - KtF never really Belonged to Leicester City - Micky Adams used it as a rallying call before he came to us and he has used it since he left.

 

[harry]

No, any of the shareholders could invest more at present, about 3 of them would be limited to a further circa £100k before hitting the limit.

The shareholders would have to vote to change the articles of association, so would need to be given a strong case for doing so.

So when can you invest your first £500k then drew?

So how come Greg Clarke has some £465K at the last accounts. Ask him next time you see him. That is if he flys in from Australia were he now lives and works.

Martin George would have liked to put some money into the club, that is until they voted him off the board.

Thes directors have no intension of putting any more of their own money into the club hence the lack of investment in the reinforcing of the stadium.

I believe I am right in saying that last season Kasabian (is that right) offered to play for nothing and woulkd have no douby filled that stadium but the club would not fund it.

These directors put in as little as they could in order to secure a part share in our club. Some invested as little as £25K others a mere £100k. For people who have very good businesses this is chicken feed. They got it on the cheap and now use it as their toy thing. Hence the lack of further investment. Most of them are not even city fans.

The Ft raised over £300k and still cannot get a seat on the board, why, because the directors fear they would upset the apple cart by putting forward the fans views.

Both TNBD and JBBD are Greg Clarke appointees sanctioned by the board and do exactly as instructed. He's no longer here and still he runs the show. Not bad for someone personally responsible for setting the wheels in motion that took us into administration.

 

[harry]

trying swell numbers again :icon_roll

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

I think I am right in saying that apart from Greg Calrke (who I have ranted about more that once) there is no current director who has been ther 20 years. There are plenty of VP's who used to be directors and lost a lot of money when we went bust (millions in some cases). Thes people are now treated like shit by the current board just like us fans.

 

[newtonfox]

i never said there was one person on the board just members of my farthers family have been on the board for over 20 years:icon_bigg :icon_wink

 

[Steven]

The same thing happened 4 years ago.

So we haven't progressed on and off the pitch in four years. :icon_conf :icon_conf