Leicester Tigers up for sale for £60 Million

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RagingBull
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Re: Leicester Tigers up for sale for £60 Million

Post by RagingBull » Tue Jun 25, 2019 8:43 am

Because owning your own construction business and a sports team are the same...... Maybe you could be consulted by Tom, Scott, Cohen etc.

trendylfj wrote:
Tue Jun 25, 2019 8:34 am
Just had another thought - we are employing/paying another consultancy firm Zero Capital to find us a buyer or should I say " run a formal sales process". Will we take any notice of them and just wait for someone to knock on the front door and say can we buy you?? Lightning can strike twice - No up front info on how much this company will charge us. MAYBE we will get a new CEO as part of the deal :smt017


Most likely paid in commission.

RagingBull
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Re: Leicester Tigers up for sale for £60 Million

Post by RagingBull » Tue Jun 25, 2019 9:01 am

With the CVC investment I wonder what are the chances of the cap going up more in the next 5 years and if it does what are the chances we could afford such an increase?

chewbacca
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Re: Leicester Tigers up for sale for £60 Million

Post by chewbacca » Tue Jun 25, 2019 9:09 am

trendylfj wrote:
Tue Jun 25, 2019 8:34 am
Just had another thought - we are employing/paying another consultancy firm Zero Capital to find us a buyer or should I say " run a formal sales process". Will we take any notice of them and just wait for someone to knock on the front door and say can we buy you?? Lightning can strike twice - No up front info on how much this company will charge us. MAYBE we will get a new CEO as part of the deal :smt017
I wouldn't expect any 'immediate' change in CEO but replaced 6 -12 months after any sale. Not sure how long the coaching team would survive.
I'm not cynical just experienced

Wes
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Re: Leicester Tigers up for sale for £60 Million

Post by Wes » Tue Jun 25, 2019 9:15 am

Lots of calls on this board for change at the top, now there's going to be change at the top so I expect massive handwringing....

In business, there's always a desire to see a return. However, unless you're into asset stripping, then there needs to be a return year on year. The Tigers product is Rugby. without successful rugby there won't be an ongoing return, either through ticket sales, merchandising, sponsorship or whatever other revenue streams. This would lead me to think that the next owners may actually want a successful team, as opposed to 'sweating the asset' and flogging the broken parts...

PS - I also have a successful construction business - maybe I could be asked!
I only live there to wind up the population!

Scott1
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Re: Leicester Tigers up for sale for £60 Million

Post by Scott1 » Tue Jun 25, 2019 9:18 am

Sadly there will be a time when the cap goes and when we have transfer windows with a league littered with the world's best players at the expense of our national team. Sound familiar?

fortysix
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Re: Leicester Tigers up for sale for £60 Million

Post by fortysix » Tue Jun 25, 2019 9:19 am

About time too. The Club has been extremely badly run on the only place that really matters, the pitch, for a number of years.
60 million is peanuts.
Lets hope we get a good one------------the City owner ????

chewbacca
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Re: Leicester Tigers up for sale for £60 Million

Post by chewbacca » Tue Jun 25, 2019 9:23 am

There are lots of reasons for selling a business. Being a major shareholder and not being able to shift an incompetent board might be a good reason to pull out.
I'm not cynical just experienced

RichieB
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Re: Leicester Tigers up for sale for £60 Million

Post by RichieB » Tue Jun 25, 2019 9:39 am

If the LCFC owners came in, maybe they would want to see a change of name to King Tigers. Sounds like a phrase I've heard a lot over the last season or two. Seriously though, I personally love the game of rugby and have not once been excited or attracted by the administration/corporate structure of the club. I love to watch Tigers play, closely followed by England (both men's team and women's team) and I don't see that changing by this announcement.

As Mr Bull said, it seems there has been some excessive reaction to this announcement and I would suggest cautious optimism given the relatively poor performance of the first team over the last few years and the obvious need for change.

I doubt there will be any perceptible change anyway in the short-term. Ultimately, if things change for the worst in the longer- term, such as a significant hike in prices and more half-time weddings, then I will think about voting with my feet.

CitizenSmiff
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Re: Leicester Tigers up for sale for £60 Million

Post by CitizenSmiff » Tue Jun 25, 2019 9:45 am

Wow, interesting news to begin the day. While any talk of new ownership will always make people nervous in a field littered with the wreckage of financial mismanagement I'm cautiously excited. Something had to happen to get things going again and this might well be it.

Scott1
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Re: Leicester Tigers up for sale for £60 Million

Post by Scott1 » Tue Jun 25, 2019 10:07 am

Will someone please be kind enough to break down possible outcomes for a simple guy like me? Can shareholders stop the sale? If it's just a case of wanting rid of the board can the shareholders just vote them off and re-elect? Any help would be very much appreciated!

RagingBull
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Re: Leicester Tigers up for sale for £60 Million

Post by RagingBull » Tue Jun 25, 2019 10:17 am

Scott1 wrote:
Tue Jun 25, 2019 10:07 am
Will someone please be kind enough to break down possible outcomes for a simple guy like me? Can shareholders stop the sale? If it's just a case of wanting rid of the board can the shareholders just vote them off and re-elect? Any help would be very much appreciated!
Scott has 46% of shares
Tom has 9%

Realistically if those two want to sell it will sell.

It's not the case of wanting board members off because those two are the board and own the club basically.

Latecomer
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Re: Leicester Tigers up for sale for £60 Million

Post by Latecomer » Tue Jun 25, 2019 10:23 am

As regards smaller shareholders not being consulted this is simply an announcement to confirm we are open to offers. Should an offer be received and be deemed acceptable by the board it will be put to a vote of all shareholders. Being as Tom Scott and Peter Tom control over 50% and presuming our constitution mandates a simple majority of 50% plus one vote they will duly vote it through and smaller shareholders will simply have to accept it.

Scott1
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Re: Leicester Tigers up for sale for £60 Million

Post by Scott1 » Tue Jun 25, 2019 10:23 am

Thanks RB!

chewbacca
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Re: Leicester Tigers up for sale for £60 Million

Post by chewbacca » Tue Jun 25, 2019 10:32 am

Tigers management and board confuses me. Tom Scott is a non-executive director (Non-executive directors provide independent oversight and serve on committees concerned with sensitive issues such as the pay of the executive directors and other senior managers). How can the major shareholder provide independent oversight?
I'm not cynical just experienced

Ilsontiger1725
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Re: Leicester Tigers up for sale for £60 Million

Post by Ilsontiger1725 » Tue Jun 25, 2019 10:39 am

trendylfj wrote:
Tue Jun 25, 2019 12:46 am
As a shareholder, will I get a vote???? Don't think so as the idea didn't come to the minions but would be interested in how much our stadium and surrounding land is actually worth on the open market. I await the outcome with interest. Won't make any difference to the playing budget but may fund further ground/car park/hotel developments otherwise why do it??
Yes, as a shareholder you should as we get a vote through the AGM on various items. However, and it's a big however, Peter Tom was re-elected Chairman with "over 99%" (his information) which, in the light of the damage he has done to the club in the last 5 years, shows that the opinions of ordinary fans and minor shareholders count for nothing.
Could the sale mean that Tom and Cohen are moved on? If not, then it will all be in vain as we will be left with two guys who clearly don't know how to run a major sporting club in the 21st century.

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