If I remember correctly, the Xehanort Reports spoke of Xehanort and Eraqus' master. At first I thought it was Yen Sid, but he's not. Xehanort refers to him as a master, but not his. I wonder if the BBS FM bosses all being in the Land of Departure means something? Armor of the Master seems to represent Eraqus, and No Heart seems to represent Xehanort. So perhaps the Mysterious Figure could be the master?

Armor of the Master and No Heart aren't canon to the story. MF appearing in Land of Departure isn't canon, but he himself is. Nomura said that MF is someone new, and I'm guessing the Master would be an old old man by now.

Armour of the Master and No Heart are canon in the sense that they are Eraqus and Xehanorts armour.

And it honestly wouldn't surprise me if the Land of Departure IS a connection of some sort.

But I dunno, I don't think MF is their master, though that could explain Xemnas' ethereal blades...

If we go ahead and reveal their master, then we have to reval that person's master and so on. In other words, their master is not important. Even the xhanort reports make him seem like the run of the mill sort of guy.

Not a bad idea. Not bad at all. I like it. It could be true.

Rob-Well if he was an old man, hour couldve taken a new body like Xehanort.

Well if he would be the master then he d probably use a keyblade.

Of course he could have own reasons not to use it in the battle but its just makes ur theorie at least a bit less reasonably.

Well, Yen Sid was a master, but never shows his Keyblade.

Rob-Well if he was an old man, hour couldve taken a new body like Xehanort.

 

I doubt anyone would do what the evil Xehanort did, unless they were messed up. Just grow old and die like a normal person.

 

Well, Yen Sid was a master, but never shows his Keyblade.

 

Well, Yen Sid did give his keyblade to Mickey. Beside's, have we seen Yen Sid in any position to fight someone or something? No.

To start off, I like this theory. It gives a good explanation of who MF is and gives a good twist to the story.

 

To answer the questions raised about his age and lack of keyblade, I think something was done to him by Xehanort. This is has no backing that I can see, but might answer those questions. Will have to see.