Leicester Tigers up for sale for £60 Million

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

Post by MurphysLaw » Tue Jun 25, 2019 7:59 am

On one level, this seems to be a highly opportunistic move by the Board. The CVC buy-in cash has clearly been the catalyst. It has cleared the company of debt so let's get the thing to the market, take the money, and get out. That's the cycnical view.
We will see, I suppose....
In the meantime, I am not sure what effect a sale and a 'strategic review' will be having on the Coaches and the players, and particularly any on-going recruitment of new players. It must be 'unsettling' to say the least.

voice of the crumbie
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Re: Leicester Tigers up for sale for £60 Million

Post by voice of the crumbie » Tue Jun 25, 2019 8:01 am

RagingBull wrote:
Tue Jun 25, 2019 7:48 am
Unless you know how much the likes of Bath, Bristol, Sarries, Racing etc etc sold for not sure how you can say it’s low.
I would imagine that individuals with the business acumen of Peter Tom and Tom Scott would have access to people who can find these things out and then value the club accordingly. Mind you, you can put any valuation you like on it. At the end of the day it's only worth whatever someone is prepared to pay.
Tigers for the premiership and European Cup. Get behind the team and make some noise!!

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

Post by ads » Tue Jun 25, 2019 8:07 am

Wow, didn't see that coming. Lets hope we get a decent buyer and it brings success, could really be what the club needs to move them forward.

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

Post by Scuttle » Tue Jun 25, 2019 8:12 am

Gosh the BBC are even interested albeit just a repeat of what we know......and by Dan Roan no less.....


https://www.bbc.co.uk/sport/rugby-union/48754778
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Re: Leicester Tigers up for sale for £60 Million.bee

Post by PGD » Tue Jun 25, 2019 8:17 am

Quote:
Simon Cohen, Leicester Tigers Chief Executive Officer, said:

“The investment and changes in English Premiership rugby present a huge opportunity for the Club and a new investor. As the most prestigious club in English rugby, this development will further support Leicester Tigers in its ambition to be the most successful club in England and Europe, to the benefit of our players, the Club and our loyal supporters.”
Unquote.

This statement is as hollow as an empty eggshell. If Cohen thinks us "the most successful club" he's living on dreams. To be successful, the club has to win games, something we've not done enough of for many years, culminating in last year's nadir (I hope it is the nadir!).

Why would anyone think an outsider paying £60m for the club would induce a period of investment different from now? Any such investor wil want to 'sweat the asset' to see a return, unless it's a sugar-daddy wanting a new toy... oh no: might we be owned by a Russian oligarch? Oh well, the tea on sale in the concessions might improve.

Joking aside, all I can see in this is that the shareholders (& I presume Mr Tom has a significant number) will pocket the loot & scarper. No, I'm not talking about the supporters with a few dozen or so but those with enough to command a majority, the majority that will be needed to vote this through.

I note this has been done after all the ST wheeling & dealing has been concluded. I renewed ours 2nd June but, if I'd known this, would not have.

This isn't investment; it's selling Tigers down the river to benefit the pockets of the current majority shareholders, and it STINKS. It signals Tigers joining the ranks of commodities to be bought & sold at will with the only concern the profit to be made from such for those holding the money.

Dressing it up as means to ensure the club's success is bull.

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

Post by jgriffin » Tue Jun 25, 2019 8:20 am

Mrs G first reaction: won't be Leicester Tigers any more. Minor shareholders? We're they consulted? :smt017
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Scott1
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Re: Leicester Tigers up for sale for £60 Million

Post by Scott1 » Tue Jun 25, 2019 8:22 am

This mirrors Aston Villa bar the relegation with our massive fall from grace. Let's hope we don't sell to a Lerner or Xia!

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Re: Leicester Tigers up for sale for £60 Million

Post by Smudge » Tue Jun 25, 2019 8:26 am

I have always looked upon our family club status as something to be proud of, likewise our careful accounting.
One thing you can be sure of, big money coming into the game will change it beyond all recognition.
I can see the EPL following Wendyball so that 90% of players will be from overseas. To the detriment of England.
You can bet your boots that the sale of part of the EPL will mean that the "crimes" of Saffacens will go unpunished.
A life long Tiger

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Re: Leicester Tigers up for sale for £60 Million

Post by JP14 » Tue Jun 25, 2019 8:29 am

As far as I’m aware, minority shareholders weren't consulted prior to this announcement.
"Our Greatest Glory Is Not In Never Failing, But In Rising Every Time We Fall" Confucius

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

Post by RagingBull » Tue Jun 25, 2019 8:30 am

some People on here have gone full OTT mode.

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Re: Leicester Tigers up for sale for £60 Million

Post by JP14 » Tue Jun 25, 2019 8:33 am

RagingBull wrote:
Tue Jun 25, 2019 8:30 am
some People on here have gone full OTT mode.
To be expected quite really, and until we know more there is nothing but to do but speculate.
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trendylfj
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Re: Leicester Tigers up for sale for £60 Million

Post by trendylfj » 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
Hehehehehehehehe

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Re: Leicester Tigers up for sale for £60 Million

Post by PGD » Tue Jun 25, 2019 8:34 am

jgriffin wrote:
Tue Jun 25, 2019 8:20 am
Mrs G first reaction: won't be Leicester Tigers any more. Minor shareholders? We're they consulted? :smt017
JG, I agree with her. Tigers was a club where non-playing players mixed & chatted with the supporters. We were successful on the pitch & off, but more importantly, there was a "club" atmosphere from top to bottom. It was OURS.

There's an argument this has been coming since professionalism; the 'amateur' aspect - ie, playing for fun - eroding bit-by-but. I wonder if the BoD now see us as the Man Utd of rugby? If so, I suggest they look at the mess the Glazers have made of it, deep in debt to realise profit for them.

An asset to be bought & sold, not a rugby club. Goodbye, Tigers: my last season with a ST.

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Re: Leicester Tigers up for sale for £60 Million

Post by PGD » Tue Jun 25, 2019 8:39 am

JP14 wrote:
Tue Jun 25, 2019 8:33 am
RagingBull wrote:
Tue Jun 25, 2019 8:30 am
some People on here have gone full OTT mode.
To be expected quite really, and until we know more there is nothing but to do but speculate.
Neither OTT nor speculation. I retired from a career in business (construction) & know how & why companies are bought & sold. It's not for the benefit of the company (or employees) but the for the major shareholders to realise more profit.

That is precisely what will happen to Tigers.

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Re: Leicester Tigers up for sale for £60 Million.bee

Post by Coops » Tue Jun 25, 2019 8:41 am

PGD wrote:
Tue Jun 25, 2019 8:17 am

I note this has been done after all the ST wheeling & dealing has been concluded. I renewed ours 2nd June but, if I'd known this, would not have.

This isn't investment; it's selling Tigers down the river to benefit the pockets of the current majority shareholders, and it STINKS. It signals Tigers joining the ranks of commodities to be bought & sold at will with the only concern the profit to be made from such for those holding the money.
What an absolute load of tosh! I've been a season ticket holder for over 15 years through thick and thin, I wouldn't let this little matter change that - I follow the team.

It's a business and they can do what they want. It was inevitable it would happen at some point, and in some shape or form. I suggest that if you don't agree then you write a strongly worded letter to Mr Cohen outlining the reasons why YOU think it's a bad idea!

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