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Sly

Companies House - Registration of charge

By Sly, in Leicester City Forum

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jeffschlupp

jeffschlupp

Posted
Posted

They've took out a loan secured against TV money up until January 2022.

 

We've done that for the last couple of seasons with Macquarie for TV monies and also some of the Mahrez fee, it just allows us to gain access to cash immediately rather than waiting for it, helps for cash flow reasons in the short term. Lots of clubs in the PL do it, it's mostly a no brainer if you are secure and unlikely to get relegated which hopefully we are for the next few seasons.

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jeffschlupp

jeffschlupp

Posted
Posted
4 minutes ago, Chrysalis said:

are Macquarie an affiliate of King Power? they have been the lender of all the loans we have taken out, but instead people have been claiming King Power themselves lent the money.

 

Also on this charge I cannot see a loan amount.

Don't think so, other clubs like Wolves have used them. The yearly financial accounts will detail the loan amount, usually they've been £30-50m in the past couple of years.

 

The only loan we have with KPI at the minute is the £91m facility for the training ground, which I assume is on very favourable terms for LCFC, but it is only six years in length.

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davieG

davieG

Posted
Posted
4 hours ago, Ashley said:

Not sure where to put this or if it wwe worthy of its own thread but weve just secured/applied for another loan. 

20200812_110920.jpg

20200812_110922.jpg

 

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Bayfox

Bayfox

Posted
Posted

Possibly to do with the stadium expansion. We borrowed the money for the training ground against part of the mahrez fee 2nd instalment and the future TV deal as well I believe.

 

If fans aren't allowed in grounds anytime soon maybe they will try get the planning through before Christmas and start works when less likely to affect crowds and bound to be a small boom once football fans are allowed to return.

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Lesta Legend

Lesta Legend

Posted
Posted
46 minutes ago, Chrysalis said:

are Macquarie an affiliate of King Power? they have been the lender of all the loans we have taken out, but instead people have been claiming King Power themselves lent the money.

 

Also on this charge I cannot see a loan amount.

Not all the loans, Barclays also.

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chapero82

chapero82

Posted
Posted
56 minutes ago, Bayfox said:

Possibly to do with the stadium expansion. We borrowed the money for the training ground against part of the mahrez fee 2nd instalment and the future TV deal as well I believe.

 

If fans aren't allowed in grounds anytime soon maybe they will try get the planning through before Christmas and start works when less likely to affect crowds and bound to be a small boom once football fans are allowed to return.

Haven’t the government also said they are wavering planning permissions for now also?

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Foxes96

Foxes96

Posted
Posted

 

1 hour ago, Bayfox said:

Possibly to do with the stadium expansion. We borrowed the money for the training ground against part of the mahrez fee 2nd instalment and the future TV deal as well I believe.

 

If fans aren't allowed in grounds anytime soon maybe they will try get the planning through before Christmas and start works when less likely to affect crowds and bound to be a small boom once football fans are allowed to return.

 

7 minutes ago, chapero82 said:

Haven’t the government also said they are wavering planning permissions for now also?

 

Could be linked to Bert’s tweet in the twitter transfer rumours thread. Similar to how the ground has been funded.

 

If so very exciting news!! 

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Babylon

Babylon

Posted
Posted
3 hours ago, Chrysalis said:

are Macquarie an affiliate of King Power? they have been the lender of all the loans we have taken out, but instead people have been claiming King Power themselves lent the money.

 

Also on this charge I cannot see a loan amount.

Who claimed Kingpower lent the money, they haven't put their own cash in for a long time. Technically anything the club makes is there's, so technically they have. But outside source money they haven't. 

 

This lot are known as the vampire bank... bloody suckers!

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sacreblueits442

sacreblueits442

Posted
Posted
3 hours ago, Bayfox said:

Possibly to do with the stadium expansion. We borrowed the money for the training ground against part of the mahrez fee 2nd instalment and the future TV deal as well I believe.

 

If fans aren't allowed in grounds anytime soon maybe they will try get the planning through before Christmas and start works when less likely to affect crowds and bound to be a small boom once football fans are allowed to return.

...just as  stated a few years ago that the revenue from our league position would be used to finance the expansion!!!

I believe we are on target for the expansion as previously stated and the advent of covid has not had any effect on our plans.

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Paninistickers

Paninistickers

Posted
Posted

I find the tactic quite interesting.

 

Basically it's factoring. An overdraft in reverse. Plonking a huge chunk of cash in your account and running it down.... rather than running up an overdraft and waiting for the PL money to arrive months later to pay it all off.

 

Slightly curious as to why we are so cash thirsty though. 

 

And slightly curious as to why the training ground outlay seemingly hasn't been mortgaged over the next 40 years. I don't see the rush to pay for it up front. 

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peach0000

peach0000

Posted
Posted
16 minutes ago, Paninistickers said:

I find the tactic quite interesting.

 

Basically it's factoring. An overdraft in reverse. Plonking a huge chunk of cash in your account and running it down.... rather than running up an overdraft and waiting for the PL money to arrive months later to pay it all off.

 

Slightly curious as to why we are so cash thirsty though. 

 

And slightly curious as to why the training ground outlay seemingly hasn't been mortgaged over the next 40 years. I don't see the rush to pay for it up front. 

It's a lot of money and no one knows what will happen in the next 10 years in football let a lone 40 years. Doing something like that with that amount of money could really threaten the future or even existence of the club in the future. It would seem silly to do it especially when we can afford to pay for it right now. Also imagine the interest on that.

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Mehrez

Mehrez

Posted
Posted
3 hours ago, Babylon said:

Who claimed Kingpower lent the money, they haven't put their own cash in for a long time. Technically anything the club makes is there's, so technically they have. But outside source money they haven't. 

 

This lot are known as the vampire bank... bloody suckers!

KP did a 6 year £91m loan for the training ground, it’s in the latest accounts 

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Babylon

Babylon

Posted
Posted
6 hours ago, Mehrez said:

KP did a 6 year £91m loan for the training ground, it’s in the latest accounts 

Ahhh fair enough, usually look at the accounts but didn’t bother this year. I know they mentioned in the ones before they’d look at a long term facilty.

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