"City are going into administration..."

wonder if that been report to be true or just hearsay ??? but why not challenge the chairman or the take over by thaksin shinawatra that put us in a mess in the first place and when being major share owners selling there shares they took the money quick enough. but more work should have been done by them and the club at the time and they sold the club knowing it was on false founding to somebody with no money at all and was somebody else lending the money to him at the time

i was told by somebody that the loan they give the club was based on shares coming back to them and to they got 2 bites of the cherry but again that was hearsay and i ever wonder will the truth ever come out about thaksin shinawatra take over and the sales of shares to him and then back to John Wardle and David Makin in share values who then sold them to Sheikh Mansour so they must have got a fair price when selling to thaksin shinawatra then getting shares back under the loan they give the club so how can it be losing money ??
I know for a fact Wardle lost money, big money. Can't go into details without risking losing my qualification and most likely my job but I can guarantee that he did.
 
I don't quite follow the second part of your post but I do agree to some extent with the other bit. I'm not giving away names but someone quite influential and close to the club was absolutely incandescent about Wardle selling to Thaksin. However I'm a little more pragmatic and recognise that he really was the only show in time at that point. We were continually spending more cash than we earned & John Wardle definitely wouldn't run his own business like that. He was wealthy by our standards but a pauper compared to Sheikh Mansour, something like the low tens of millions, and he couldn't and didn't want to continue propping up the club financially. You could certainly question why he let the club get into the state that it needed propping up. I believe he wouldn't stand up to Mackintosh and that's no good.

As to the loss they suffered Wardle & Makin, like all of us who were shareholders, had to sell our shares to Thaksin. We got 20p a share. Many people paid far more than that originally, somewhere between 60p and £1 a share. So if you buy something for 60p and sell for 20p you make a loss. Wardle probably lost around £6m on his shares.

I explained about the loans & that Thaksin bought them at a discount. Wardle probably lost another £5m that way. That pretty well confirms what Wardle told someone who was doing some work at his house. Once Thaksin owned the shares and the loans Wardle & Makin had no further financial interest. The 2008 takeover was between ADUG and Thaksin.
 
Wasn't city going ask Henry Moser to lend us the money to pay the debt ?
Would have like to of seen what his interest rates would of been :)
 
Don't panic. I've just remembered that ten years ago around this time, City were struggling to pay the second instalment on Sven's transfers, which was due on July 1st.

Had they not been able to get a loan to help them pay that, we'd have gone into administration. At the time we were told that the club could probably be bought for £2m if that had happened. Today we're valued at just under £2bn. We have a lot to be thankful for. What a journey the last ten years has been.
Remember having that same conversation with you at that time. God I was depressed, but the darkest hour is before dawn as they say!
 
Is there a decent book or even an account of the behind the scenes activites at the club during the Lee, makin/wardle, shinawatra, mansour Era?

I know Cups for Cock-ups covers Lee but the following had to be one of the most turbulent and interesting periods any club has gone through in the modern era.

Particularly the shinawatra era, W&M's bailouts and the out of the blue and initially unprofessional Mansour takeover.

If there's isn't one, there should be!
 
Is there a decent book or even an account of the behind the scenes activites at the club during the Lee, makin/wardle, shinawatra, mansour Era?

I know Cups for Cock-ups covers Lee but the following had to be one of the most turbulent and interesting periods any club has gone through in the modern era.

Particularly the shinawatra era, W&M's bailouts and the out of the blue and initially unprofessional Mansour takeover.

If there's isn't one, there should be!
Not sure of any book, but 93.20 podcast did an excellent couple of episodes which covered this period. I think Prestwich Blue participated.


Sent from my iPad using Tapatalk Pro
 
Does anyone know the episode numbers?

They were named "Boardroom battles" and the first one was released 6th/7th July 2017 second one was 3rd/4th August 2017. Not sure if those links will work for you as I'm a 9320 member but give it a try.

Also had a few interesting history pods about Mercer, Allison and Tommy Johnson which are well worth a listen
 

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