Club Finances

[ClaphamFox]

9 minutes ago, Paninistickers said:

Well, you poo pooed the reports of a 70m loss about an hour before it was released and then your posts suggest it's all ok, as 70m is still PSR compliant..

 

The real point is PSR is the least of our problems. We are months away from  going out of existence..

Observing that the club & large sections of the media believe we’re PSR compliant for 24/25 is not the same as saying a £70m loss is ok. You can be PSR compliant and still be in a terrible state financially. 

 

[Clogger_]

14 minutes ago, Gamble92 said:

I've come to the conclusion Top spent all his money on AI bots to defend him on Leicester City Facebook pages.

 

There's no way even people from Beaumont Leys and Hinckley are that thick. 

Tin foil hat alert: I am *certain* the club have planted/paid posters on here in the past to influence discussions. I called one of them out on it a while back; they disappeared soon afterwards. The most egregious example that caught my attention was someone with a "Frank Sidebottom" avatar - can't recall the name. While I'd never go anywhere near Facebook, I wouldn't put it past them.

 

(And I'm not talking about 'Babylon' either lol. He does it for the love of Jon)

 

Edited to say that I guess someone close enough to the club could concoct a fake identity and take this on themselves. The effect is the same: trying to divide and conquer!

Edited 27 March by Clogger_

[Gamble92]

12 minutes ago, Clogger_ said:

Tin foil hat alert: I am *certain* the club have planted/paid posters on here in the past to influence discussions. I called one of them out on it a while back; they disappeared soon afterwards. The most egregious example that caught my attention was someone with a "Frank Sidebottom" avatar - can't recall the name. While I'd never go anywhere near Facebook, I wouldn't put it past them.

 

(And I'm not talking about 'Babylon' either lol. He does it for the love of Jon)

 

Edited to say that I guess someone close enough to the club could concoct a fake identity and take this on themselves. The effect is the same: trying to divide and conquer!

Definitely has happened.

 

Wish I could give you double rep for calling out Babylon. 

[MattFox]

5 minutes ago, Gamble92 said:

Definitely has happened.

 

Wish I could give you double rep for calling out Babylon. 

The one of this site was/is a massive pro KP voice

[Clogger_]

7 minutes ago, Gamble92 said:

Definitely has happened.

 

Wish I could give you double rep for calling out Babylon. 

What narks me is the idea that they think we'd be dumb enough not to notice. Like someone as thick as Top and/or one of his stooges thinking "they're so dumb"... You can tell a wrong 'un a mile off

Edited 27 March by Clogger_

[Lad1966]

So the sale of Mcteer, Bilal,  Niddi, Justin and Coady etc, bring in approx £50m weren’t included in these account. I was expecting this to included in these account, which will now be included in the 25/26 account, as well as the reduced wage bill. I can’t see us getting out of the vicious circle until 27/28 season, if we survive that long as a club!

[Gamble92]

33 minutes ago, Clogger_ said:

What narks me is the idea that they think we'd be dumb enough not to notice. Like someone as thick as Top and/or one of his stooges thinking "they're so dumb"... You can tell a wrong 'un a mile off

Top can't believe anyone would ever have gone against him or his people after "everything he's done".

 

The sheer arrogance and petulance of the little man is just revolting. 

[5waller5]

I can’t believe I’m about to type something in mild defense of Babylon…

 

But I think he’s just rather contrarian, I’ve had many an argument with his logic, which on almost every subject seemed to attempt to speak for the person under fire. 

[HankMarvin]

34 minutes ago, Lad1966 said:

So the sale of Mcteer, Bilal,  Niddi, Justin and Coady etc, bring in approx £50m weren’t included in these account. I was expecting this to included in these account, which will now be included in the 25/26 account, as well as the reduced wage bill. I can’t see us getting out of the vicious circle until 27/28 season, if we survive that long as a club!

The accounts are always for the previous year

[lcfc_forever]

Not sure if Kieran Maguire suggests with player sales, we’re OK from a PSR view: 

 

 

[ozleicester]

4 hours ago, ElusiveEd said:

The EFL Is Broken......

 

https://www.dailymail.co.uk/sport/football/article-15674169/EFL-broken-finances-clubs.html

 

(Use a VPN to get around the paywall)

Also... this works well to get around... https://archive.md/

[Sly]

So on average for the last three years, we’ve been losing £114 per second? 
 

Cracking effort King Power. 
 

Football clubs in general don’t make money, however this is surely unsustainable. 

[LCFCJohn]

8 hours ago, Durnerz said:

The other real problem is the lack of saleable playing assets, none of these players are likely to bring in big money through transfer fees. It's a struggle to see where the revenue comes from next season should relegation happen.

If relegated, there will be a large exodus you’d think, rather than a ‘big’ sale. So there’d likely be a number of smaller fees.

 

A couple of million for Nelson, maybe a million for Stolarcryk from a championship club (Norwich were interested last summer), a nominal fee Winks. Wilder might come back for Choudhury. Again that’d be a small fee given the wages. Okoli back to Italy, might get amortisation plus a small amount. 

Fatawu will of course be the biggest sale but even then maybe £15 mill top end.

 

Even then there’s not loads to be fair.

[PAULCFC]

54 minutes ago, Sly said:

So on average for the last three years, we’ve been losing £114 per second? 
 

Cracking effort King Power. 
 

Football clubs in general don’t make money, however this is surely unsustainable. 

Football clubs don't in general make money,but they keep things within their reach of being ok on a financial side.........where as our esteemed leadership have got mortgaged up to the Eyeballs without having any sellable assets to pay a few quid off.

[Claudio Fannieri]

To aid these horrific losses the club has also continued to sell its soul work front of shirt sponsorship with obscure betting/crypto companies such as FBS and BC Game…….not forgetting the failed and aborted partnership with K BET at the beginning of the season. 
 

In addition our pretty uninspiring deal with adidas that in recent years has delivered some pretty boring kits, trotting out in a fairly standard bland template home kit and some pretty garish away/3rd kits. 
 

Our model or lack of one both on and off the pitch is so lazy and predictable, we have lost all creativity in how we operate and as a consequence we continue to haemorrhage money. 
 

I repeat over the last 4 years accounts we have lost £275m which equates to £200k per day and all that to deliver 2 relegations and create the foundation for a potential 3rd relegation this season which will take us into league 1. 
 

And yet here we are following a restructure, with 2 of the key decision makers in this latest set of accounts, horrific finances and an embarrassing relegation, whilst following up this season with similar,  rewarded with promotion. 
 

This is why football and our club is going to hell in a handcart because in any other walk of life and business, for one these losses would not be allowed without drastic recovery measures and both would be relieved of their duties for such poor performance. 
 

£275m lost in 4 years and barely a saleable asset of any real value left. Abdul we will do well to get £20m and the rest will mainly be sales of academy prospects with heavy performance and sell on % if negotiated well but let’s be honest in reality there is very little left in regards to players who are going to generate big fees to get us out of this mess. 

Edited 28 March by Claudio Fannieri

[Sly]

20 minutes ago, Claudio Fannieri said:

To aid these horrific losses the club has also continued to sell its soul work front of shirt sponsorship with obscure betting/crypto companies such as FBS and BC Game…….not forgetting the failed and aborted partnership with K BET at the beginning of the season. 
 

In addition our pretty uninspiring deal with adidas that in recent years has delivered some pretty boring kits, trotting out in a fairly standard bland template home kit and some pretty garish away/3rd kits. 
 

Our model or lack of one both on and off the pitch is so lazy and predictable, we have lost all creativity in how we operate and as a consequence we continue to haemorrhage money. 
 

I repeat over the last 4 years accounts we have lost £275m which equates to £200k per day and all that to deliver 2 relegations and create the foundation for a potential 3rd relegation this season which will take us into league 1. 
 

And yet here we are following a restructure, with 2 of the key decision makers in this latest set of accounts, horrific finances and an embarrassing relegation, whilst following up this season with similar,  rewarded with promotion. 
 

This is why football and our club is going to hell in a handcart because in any other walk of life and business, for one these losses would not be allowed without drastic recovery measures and both would be relieved of their duties for such poor performance. 
 

£275m lost in 4 years and barely a saleable asset of any real value left. Abdul we will do well to get £20m and the rest will mainly be sales of academy prospects with heavy performance and sell on % if negotiated well but let’s be honest in reality there is very little left in regards to players who are going to generate big fees to get us out of this mess. 

This is the concerning bit.

 

We don’t have any assets that are saleable quickly.

 

We are a hot mess. 

[CosbehFox]

10 hours ago, ClaphamFox said:

Well it seems that we may actually be fine for PSR for 24/25 despite the £70m overall loss, so Tanner was right. It was my mistake for taking his comments on PSR to mean our accounting losses would be lower.

There’s a theory that the leagues can’t act upon any breach at the moment until the existing charge is finally resolves 

[Dreadnought]

47 minutes ago, Claudio Fannieri said:

To aid these horrific losses the club has also continued to sell its soul work front of shirt sponsorship with obscure betting/crypto companies such as FBS and BC Game…….not forgetting the failed and aborted partnership with K BET at the beginning of the season. 
 

In addition our pretty uninspiring deal with adidas that in recent years has delivered some pretty boring kits, trotting out in a fairly standard bland template home kit and some pretty garish away/3rd kits. 
 

Our model or lack of one both on and off the pitch is so lazy and predictable, we have lost all creativity in how we operate and as a consequence we continue to haemorrhage money. 
 

I repeat over the last 4 years accounts we have lost £275m which equates to £200k per day and all that to deliver 2 relegations and create the foundation for a potential 3rd relegation this season which will take us into league 1. 
 

And yet here we are following a restructure, with 2 of the key decision makers in this latest set of accounts, horrific finances and an embarrassing relegation, whilst following up this season with similar,  rewarded with promotion. 
 

This is why football and our club is going to hell in a handcart because in any other walk of life and business, for one these losses would not be allowed without drastic recovery measures and both would be relieved of their duties for such poor performance. 
 

£275m lost in 4 years and barely a saleable asset of any real value left. Abdul we will do well to get £20m and the rest will mainly be sales of academy prospects with heavy performance and sell on % if negotiated well but let’s be honest in reality there is very little left in regards to players who are going to generate big fees to get us out of this mess. 

The FDS/BC Game/K Bet link ups are in line with King Power’s “it’s ok to cheat a bit because that is what we do to get the duty free contact” attitude to their whole business model. It might be backhanders all round in Thailand but that does not work in a highly regulated football industry. They are chancers that have been found out. 
 

Nobody is buying the club. We will go bust in a big way before anyone even looks at us. 

[ClaphamFox]

14 minutes ago, CosbehFox said:

There’s a theory that the leagues can’t act upon any breach at the moment until the existing charge is finally resolves 

Sure—that may be the case. But I was referring more to the fact that the club has explicitly stated it was PSR compliant for the period and that most media outlets seem to believe it. Whether it’s true or not is another matter.

[Katy]

50 minutes ago, Sly said:

This is the concerning bit.

 

We don’t have any assets that are saleable quickly.

 

We are a hot mess. 

We are. If we get relegated we’ll get next to nothing for Abdul and, even though Jakub, Nelson etc would be pure profit we’ll get next to nothing for them too. We’re a dead club (just about) walking. 

[Vestan Pance]

39 minutes ago, Sly said:

This is the concerning bit.

 

We don’t have any assets that are saleable quickly.

 

We are a hot mess. 

Yep, a company that got drunk on it's success, and is still living a lavish lifestyle that was in the most part supported by good player sales. As they got lazy the player trading got worse, and worse still, but they've failed to cut their cloth as a business for 5 years. Spending money like it's fresh air.

 

Losing £200,000 a day but failed to even upgrade the toilets at the stadium.

[Terraloon]

7 hours ago, Lad1966 said:

So the sale of Mcteer, Bilal,  Niddi, Justin and Coady etc, bring in approx £50m weren’t included in these account. I was expecting this to included in these account, which will now be included in the 25/26 account, as well as the reduced wage bill. I can’t see us getting out of the vicious circle until 27/28 season, if we survive that long as a club!

The money bought in may be close to £50m but the profit will likely translate into circa £25m profit. Which as we know will equate to no more than  £15m more than reflected in the 24/25 monies.

 

I need to gather my thoughts fully and of course the wages being paid to what were bought in as PL players along with their amortisation will slowly but surely be no more.

 

The problem is that without PL football or Parachute Payments the running costs of things such as Seagrave , and the Stadium will alone take care of a significant % of all the income streams if you ignore broadcasting ( Parachute Payments) 

 

 

[splinterdream]

1 hour ago, Claudio Fannieri said:

To aid these horrific losses the club has also continued to sell its soul work front of shirt sponsorship with obscure betting/crypto companies such as FBS and BC Game…….not forgetting the failed and aborted partnership with K BET at the beginning of the season. 
 

In addition our pretty uninspiring deal with adidas that in recent years has delivered some pretty boring kits, trotting out in a fairly standard bland template home kit and some pretty garish away/3rd kits. 
 

Our model or lack of one both on and off the pitch is so lazy and predictable, we have lost all creativity in how we operate and as a consequence we continue to haemorrhage money. 
 

I repeat over the last 4 years accounts we have lost £275m which equates to £200k per day and all that to deliver 2 relegations and create the foundation for a potential 3rd relegation this season which will take us into league 1. 
 

And yet here we are following a restructure, with 2 of the key decision makers in this latest set of accounts, horrific finances and an embarrassing relegation, whilst following up this season with similar,  rewarded with promotion. 
 

This is why football and our club is going to hell in a handcart because in any other walk of life and business, for one these losses would not be allowed without drastic recovery measures and both would be relieved of their duties for such poor performance. 
 

£275m lost in 4 years and barely a saleable asset of any real value left. Abdul we will do well to get £20m and the rest will mainly be sales of academy prospects with heavy performance and sell on % if negotiated well but let’s be honest in reality there is very little left in regards to players who are going to generate big fees to get us out of this mess. 

When i started to see the statement 'leicester city will follow the model of selling a player (big asset) every season', I was thinking, yep, they've lost it. Those days have gone, we have no big assets and finding those gems is now very difficult, if not impossible 

[foxinsocks]

Does the club own the ground or is it help seperately?  Ie if club goes in to admin then will any rescuer need to parlez with kp to rent the ground.

[Paninistickers]

Just now, foxinsocks said:

Does the club own the ground or is it help seperately?  Ie if club goes in to admin then will any rescuer need to parlez with kp to rent the ground.

No. And yes.