Takeover Bid – Trust Update (2)

Prior to the Plymouth game, the Foxes Trust Board held an informal meeting for members which provided the opportunity for members to give their personal viewpoint on the current situation and question Trust board members about the latest position. The Trust board would like to thank members who came along or sent apologies and their viewpoint via e-mail. 

While many members primarily attended the meeting to gain information, a number of members expressed their reservations about the Mandaric bid, with particular reference made to his track record at other clubs where minimal cash investment took place. Other members expressed their disappointment with the coverage by the Leicester Mercury in particular the frequent reference to a £25m bid which led some members attending to believe it was a cash amount being offered. 

The Trust can confirm it will be attending the LCFC shareholders meeting on the morning of the Preston game, however the exact format of the meeting is yet to be finalised. The Trust board will meet later this week once the content of the shareholder meeting becomes clear. 

Picking up on questions being raised on message boards, a poster asked whether it was possible that Mandaric could own the club before the Preston game kicks off. This isn’t the case, as a due diligence process would commence if the shareholders agreed to a takeover, and this process normally takes around a month before completion. 

Over the last couple of days fans have started to look at other aspects of the potential takeover wondering what will happen to season tickets and match day prices should the Mandaric bid be successful. The Trust is involved in a Fans Consultative Committee Sub-Group focusing on this ticket prices for next season, with the early indications that match day prices could fall, while season tickets may be on sale much earlier, however all this could be completely reviewed if the takeover goes ahead.

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