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Great day for Leicester City.Granted, investment does not guarantee anything BUT it will now give us a far better chance of success and to be able to attract better players.So, excuse my ignorance, but does this deal now mean we are out of debt?
posted Aug 12, 2010
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In answer to the debt question the new investors will have taken over the club as a going concern, which includes the assets as well as the debts.Itís possible that they may wish to pay off the debt, but I would suggest that this is very unlikely. They may choose to restructure it.The deal has really been done for MMís benefit to ensure that he limits his own liability. Itís good news in the way that, previously, if Milan went bankrupt we would have nobody to bankroll us. Itís also the case that the new investors have limited their own liability by entering into this as a consortium.The down side to all this is that you donít have one nutter whoís got ridiculous amounts of money pumping in billions as a hobby. Hopefully this will prove to be a more stable and sustainable business model, but only time will tell how ambitious the new owners will be.
no, it's just that you owe more now to the new owner's.
After 8 years, we're finally out of debt! Hurrah! <cheers>Long-term future of the club is secure, and hopefully Sousa will get a few million to spend on players. EXCELLENT :-D
"After 8 years, we're finally out of debt! Hurrah!"-------------------------------------------<doh>
Nobody seems to care how much mandaric has made from this and after the fiasco of selling Portsmouth how does anybody know if these people will be genuine.Leicester fans easily pleased again.
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