King Power- hit hard by current crisis?

[themightyfin]

We are no different from most clubs. Most owners will gave an external income stream to keep their wealth and our owners are no different.

Financially the world is going to go through turmoil and as much as fans kive their club their focus and priority will be keeping food on the table and paying bills in the months to come.

Football will come through the other side as its the greatest game on earth. What it looks like when  this is all over May well be different but trust t me. 

The owner...Kind power...and the players will all be OK financially.  

[sacreblueits442]

1 hour ago, LinekersLugs said:

King power are in HUGE trouble 

 

duty free is the massive industry sector in the KP portfolio and they are going to be losing tens of millions a week right now , maybe hundred of millions a month in turn over 

 

add to that the next biggest part of their portfolio is retail / hotels and development and those have all but shut down in Thailand 

 

without his father guiding him Top will be seen by certain parties as ripe for corporate attack , I suspect that right now LCFC is the last thing on his worried mind 

 

Surat Thani province Which administers 19 districts including the tourist islands of Ko Samui, Ko Phangan and Ko Tao, as well as Mu Ko Ang Thong Marine National Park has ordered closure of all types of hotels and similar establishments, with the exception of hotels designated as field hospitals and local quarantine venues this has got serious in Thailand , the  Chinese visitors have all put disappeared and they were driving the Boom that King Power got very rich off 

 

I was worried that KP borrowed so much to complete our new training academy , over £100m at  over base rates I suspect it suggested to me At that time that Cash was an issue, if that’s the case then I suspect LCFC are in a very very tough place right now 

 

let’s see how much the LCFC players love the club and Top !
 

They might need to show that love in their salaries 
 

extremely worrying times 

...if memory serves me right, the £100m was burrowed against the money from the tv package agreed by the Premier League clubs.

It would not have been possible for Top to have put the money in for the project with FFP as a consideration. The terms of the borrowing would surely have been favourable with the low interest rate and seems to be an astute decision to finance in this way. If there was a time to invest in a project, such as this, and not having to use your own money in order to finance the build it was, then.

   The possibility of insurance can not be overlooked and a big part of this will be the nature of any insurance King Power has in place.

[st albans fox]

2 hours ago, LinekersLugs said:

King power are in HUGE trouble 

 

duty free is the massive industry sector in the KP portfolio and they are going to be losing tens of millions a week right now , maybe hundred of millions a month in turn over 

 

add to that the next biggest part of their portfolio is retail / hotels and development and those have all but shut down in Thailand 

 

without his father guiding him Top will be seen by certain parties as ripe for corporate attack , I suspect that right now LCFC is the last thing on his worried mind 

 

Surat Thani province Which administers 19 districts including the tourist islands of Ko Samui, Ko Phangan and Ko Tao, as well as Mu Ko Ang Thong Marine National Park has ordered closure of all types of hotels and similar establishments, with the exception of hotels designated as field hospitals and local quarantine venues this has got serious in Thailand , the  Chinese visitors have all put disappeared and they were driving the Boom that King Power got very rich off 

 

I was worried that KP borrowed so much to complete our new training academy , over £100m at  over base rates I suspect it suggested to me At that time that Cash was an issue, if that’s the case then I suspect LCFC are in a very very tough place right now 

 

let’s see how much the LCFC players love the club and Top !
 

They might need to show that love in their salaries 
 

extremely worrying times 

Indykalia definitely reads this forum ..... he’s read your post and parra phrased it into a tweet !

 

 

Edited 10 April 2020 by st albans fox

[Heathrow fox]

13 minutes ago, st albans fox said:

Indykalia definitely reads this forum ..... he’s read your post and parra phrased it into a tweet !

 

 

He must read the Daily Mail aswell.They started the Chilly rumour last night.

[Corky]

Although it isn't what we'd want to happen, we do have a lot of high value assets in the playing squad that would raise a lot of money if required. I don't think we'll be in huge trouble as a club, and certainly won't be alone, so I hope we can navigate this tough period but decisions may have to be made.

 

Hopefully a last resort, however.

[mozartfox]

I think this lock down will be the end of the giving out sentimental one year contract extensions. I doubt they can be justified any longer.   We are probably going to have to rely on younger players out of the U23's to act as cover next season.

 

This is also going to make it difficult to get some of the expensive deadwood out the door early.  Difficult times ahead.

 

Clubs are going to have to pay and receive a lot less for players too.  The money is going to dry up for transfers.

[urban.spaceman]

I wouldn't put it past them to have some sort of contingency for a pandemic. They could even be ahead of the game as according to this, the first death in Thailand was a King Power employee. According to this as well they were also hit by the SARS outbreak in 2003.

 

They know what they're doing. Don't worry.

 

 

[brucey]

2 hours ago, sacreblueits442 said:

...if memory serves me right, the £100m was burrowed against the money from the tv package agreed by the Premier League clubs.

It would not have been possible for Top to have put the money in for the project with FFP as a consideration. The terms of the borrowing would surely have been favourable with the low interest rate and seems to be an astute decision to finance in this way. If there was a time to invest in a project, such as this, and not having to use your own money in order to finance the build it was, then.

   The possibility of insurance can not be overlooked and a big part of this will be the nature of any insurance King Power has in place.

I thought infrastructure projects didn’t count towards FFP?

[NaijaFox]

9 hours ago, mozartfox said:

Yes - But Etihad Airways cannot manipulate the World Airline Industry!    So not much revenue flowing into Coffers of MC's owners from that particular enterprise .....and we know Etihad have been very generous in the past ......well according to UEFA - allegedly.

Etihad is just the airline. The real cash cow is/was the oil revenues (and a massive Sovereign Wealth Fund). Interesting times ahead.

[Foxxed]

5 hours ago, st albans fox said:

Indykalia definitely reads this forum ..... he’s read your post and parra phrased it into a tweet !

 

 

 

Why would LinekersLugs read his own posts?

[NaijaFox]

7 hours ago, LinekersLugs said:

King power are in HUGE trouble 

 

duty free is the massive industry sector in the KP portfolio and they are going to be losing tens of millions a week right now , maybe hundred of millions a month in turn over 

 

add to that the next biggest part of their portfolio is retail / hotels and development and those have all but shut down in Thailand 

 

without his father guiding him Top will be seen by certain parties as ripe for corporate attack , I suspect that right now LCFC is the last thing on his worried mind 

 

Surat Thani province Which administers 19 districts including the tourist islands of Ko Samui, Ko Phangan and Ko Tao, as well as Mu Ko Ang Thong Marine National Park has ordered closure of all types of hotels and similar establishments, with the exception of hotels designated as field hospitals and local quarantine venues this has got serious in Thailand , the  Chinese visitors have all put disappeared and they were driving the Boom that King Power got very rich off 

 

I was worried that KP borrowed so much to complete our new training academy , over £100m at  over base rates I suspect it suggested to me At that time that Cash was an issue, if that’s the case then I suspect LCFC are in a very very tough place right now 

 

let’s see how much the LCFC players love the club and Top !
 

They might need to show that love in their salaries 
 

extremely worrying times 

I bet virtually all/most loans will be renegotiated (supported by the appropriate central bank(s)). Otherwise, businesses will free-fall into bankruptcy, followed by the banks and a Great Global Depression.

 

Edited 10 April 2020 by NaijaFox

[NaijaFox]

3 hours ago, Corky said:

Although it isn't what we'd want to happen, we do have a lot of high value assets in the playing squad that would raise a lot of money if required. I don't think we'll be in huge trouble as a club, and certainly won't be alone, so I hope we can navigate this tough period but decisions may have to be made.

 

Hopefully a last resort, however.

Doubtful anyone will be paying silly money this coming transfer season (and possibly next season as well). We picked Man U’s pockets (for Maguire) just in time.

[FoyleFox]

It would not surprise me if King Power had epidemic or pandemic insurance in place. Although this is completely unknown and not experienced here, in Asia there have been several epidemics, although not as severe as this in recent years so they are aware and have experienced it to an extent on previous occasions. 

[st albans fox]

28 minutes ago, Foxxed said:

 

Why would LinekersLugs read his own posts?

He defo doesn’t work at KFC !

[MPH]

club statement:

 

Talks led by Chief Executive Susan Whelan, together with Manager Brendan Rodgers, Director of Football Jon Rudkin and members of the First Team leadership group, were held to discuss the long-term implications of the coronavirus pandemic on the Club’s future vision, and the continued role of our most high-profile personnel in its continued pursuit. Discussions remain ongoing as part of an open dialogue that will help shape the Club’s continued response to this evolving situation.

The first result was a united commitment from all parties to a comprehensive series of short and long-term measures that will offer security to our people during the immediate fightback against COVID-19 and an opportunity to emerge from the fight closer, stronger and more unified in our vision than ever before.

Central to that vision will be our communities, support for whom forms a key part of the Club’s response to this crisis. A Club-wide charities framework has been put in place, incorporating the First Team players, management and staff  from the stadium and training ground, and with the commitment of our players on several levels.

We are a unified Club and among the key objectives of the initiative is to pool the resources of our staff at the stadium and training ground, and to immediately make appropriate support available to University Hospitals of Leicester NHS Trust and Leicestershire Partnership NHS Trust in their outstanding work responding to the pandemic. The Club is also in contact with Age UK Leicestershire & Rutland about a charity partnership to offer Club-wide support to the wellbeing of older people in our communities.

This follows the recent announcement made by Chairman Aiyawatt Srivaddhanaprabha, confirming the launch of the Vichai Srivaddhanaprabha Foundation’s 2020 Gift of a Wish programme – making funds available to causes in Leicestershire to apply for grants to support further valuable work in the community.

The Club intends to retain all permanent staff and does not intend to utilise the Government’s Coronavirus Job Retention Scheme. All casual matchday and non-matchday staff will be paid to the end of the 2019/20 season, as the games were previously scheduled.

Chief Executive Susan Whelan said: “We are a club that prioritises an open and consistent dialogue with our players and with our staff and this, I believe, has built strong relationships between us,  which are based on trust – a strong footing on which to undertake such important discussions for the future of the Club.

“The current issues are not just about money. How we move forward during this crisis, leading our people and supporting our communities, will be a defining moment in Leicester City’s history and the weight of responsibility is not lost on any of us. Our collective experiences in recent years, those of tragedy and, at other times, of great celebration, have welded us together as a group. Our legacy will  also be defined by how we prepare the Club to navigate this situation and how, together, we lead our people out of it and into a brighter future.”

Leicester City Manager Brendan Rodgers said:“The culture that exists here pre-dates my time with the Club, it was one of the things that drew me here and it’s been a privilege to come into it. It meant my role in the current discussions was very straightforward because the players and the Club, clear on their responsibilities, instinctively knew what needed to be done for the Club, for the city and for our fans.

“This is a Club with a strong set of values that behaves like a family. In times of crisis, your first instinct is to protect your family and that’s the response I’ve seen. I am proud to lead this group of players as we define and fulfil our roles for the future.”

Leicester City Captain Wes Morgan said: “The spirit and depth of feeling that exists here makes this Club different. We’ve all come from different places, from different backgrounds over the years and yet we’ve all shared these experiences that have brought us together at this Club, in this city. Even people that are new to the place can feel it, because it’s become our culture.

“As a group of players, we felt well placed to work with our Club on this because, together with all the staff, that’s a culture we’ve built. As soon as conversations started, it was clear we all wanted the same thing – to make sure all the staff at the Club were looked after, to do our bit for the people of the city and to make sure the Club’s in the best position possible when football is ready to return.”

Leicester City Vice Captain Kasper Schmeichel said: “The experience of being part of this Club has given so much to all of us – players and staff – and this is our opportunity to give something back.

“We’ve been through so much together and come through every challenge stronger as a group. This will be no different. We’re here to support each other through the immediacy of this and, when the dust settles and the world is ready for football to return, we’ll be there, picking up where we left off, driving the Club forward.

“This is a difficult time for a huge number of people in our communities and around the world. We have a responsibility to make sure our actions now as a Club are something our people can be proud of in the future.”

[MPH]

Just now, MPH said:

.

The Club intends to retain all permanent staff and does not intend to utilise the Government’s Coronavirus Job Retention Scheme. All casual matchday and non-matchday staff will be paid to the end of the 2019/20 season, as the games were previously scheduled.

 

 

 

Beautiful. Absolutely why i love this club. 

[foxes_rule1978]

1 hour ago, MPH said:

 

 

Beautiful. Absolutely why i love this club. 

Excellent to see, our owners proving yet again to be a class act. 

[LinekersLugs]

7 hours ago, st albans fox said:

Indykalia definitely reads this forum ..... he’s read your post and parra phrased it into a tweet !

 

 

That’s not my greatest moment on here 🤦‍♂️

[LinekersLugs]

2 hours ago, Foxxed said:

 

Why would LinekersLugs read his own posts?

🤣🤣🤣

[TheLittleBigMan]

I find it funny we're in the middle of a global pandemic, experiencing loss of life while having our daily lives upended and we're all running around asking 'Yeah, but whats happening with all the money?".

 

I think they'll just print some more and lend it to everyone. Kinda like before accept better.

[MPH]

3 hours ago, TheLittleBigMan said:

I find it funny we're in the middle of a global pandemic, experiencing loss of life while having our daily lives upended and we're all running around asking 'Yeah, but whats happening with all the money?".

 

I think they'll just print some more and lend it to everyone. Kinda like before accept better.

there’s a general chat section where there are several threads about Covid-19. This is the Leicester City section about, well, things to do with Leicester City.

 

 

For what it’s worth i work in a facility which is projected to have 160 covid-19 patients by the middle of next week and i’ll be having to live away from my family. i’m really not wanting to comment just on the pandemic and how it’s effecting us all- you can turn on the news for that!  

Edited 10 April 2020 by MPH

[Viva]

11 hours ago, TheLittleBigMan said:

I find it funny we're in the middle of a global pandemic, experiencing loss of life while having our daily lives upended and we're all running around asking 'Yeah, but whats happening with all the money?".

 

I think they'll just print some more and lend it to everyone. Kinda like before accept better.

There will be life after this and it’s perfectly normal for people to be thinking how it will affect things in their lives, including football. 
 

Edited 11 April 2020 by Viva

[NaijaFox]

On 10/04/2020 at 17:52, MPH said:

there’s a general chat section where there are several threads about Covid-19. This is the Leicester City section about, well, things to do with Leicester City.

 

 

For what it’s worth i work in a facility which is projected to have 160 covid-19 patients by the middle of next week and i’ll be having to live away from my family. i’m really not wanting to comment just on the pandemic and how it’s effecting us all- you can turn on the news for that!  

Stay safe pal! We appreciate the hard work and sacrifice. 

[Gamble92]

On 10/04/2020 at 08:40, LinekersLugs said:

King power are in HUGE trouble 

 

duty free is the massive industry sector in the KP portfolio and they are going to be losing tens of millions a week right now , maybe hundred of millions a month in turn over 

 

add to that the next biggest part of their portfolio is retail / hotels and development and those have all but shut down in Thailand 

 

without his father guiding him Top will be seen by certain parties as ripe for corporate attack , I suspect that right now LCFC is the last thing on his worried mind 

 

Surat Thani province Which administers 19 districts including the tourist islands of Ko Samui, Ko Phangan and Ko Tao, as well as Mu Ko Ang Thong Marine National Park has ordered closure of all types of hotels and similar establishments, with the exception of hotels designated as field hospitals and local quarantine venues this has got serious in Thailand , the  Chinese visitors have all put disappeared and they were driving the Boom that King Power got very rich off 

 

I was worried that KP borrowed so much to complete our new training academy , over £100m at  over base rates I suspect it suggested to me At that time that Cash was an issue, if that’s the case then I suspect LCFC are in a very very tough place right now 

 

let’s see how much the LCFC players love the club and Top !
 

They might need to show that love in their salaries 
 

extremely worrying times 

I'm sure his networth will cushion the blow

[Leeds Fox]

3 hours ago, Gamble92 said:

I'm sure his networth will cushion the blow

I’m no expert but his net worth will likely be primarily made up of his business assets, with the travel sector as the major player.