LEICESTER POSTS £67M PRE-TAX LOSS

[happy85]

https://www.business-live.co.uk/retail-consumer/leicester-city-posts-67m-pre-20209807?utm_source=linkCopy&utm_medium=social&utm_campaign=sharebar

[Mike Oxlong]

“The club said the settlement of a legal dispute also contributed to admin expenses increasing by £5.7 million to £23.9 million”

 

Not from a tiff with the tea lady 

Edited 19 March 2021 by Mike Oxlong

[Babylon]

Ouch.

 

And that's just last seasons losses, not this seasons. 

 

"wHy ArEn'T wE bUyInG pLaYeRs" 

[Babylon]

3 minutes ago, Mike Oxlong said:

“The club said the settlement of a legal dispute also contributed to admin expenses increasing by £5.7 million to £23.9 million”

 

Not from a fallout with the tea lady 

What dispute was that then?

[Mike Oxlong]

Just now, Babylon said:

What dispute was that then?

Not sure 

 

My first thought was that it relates to @UpTheLeagueFoxs favourite ex manager but I think that we have a pretty good record at paying off the exes. Could also be something construction rather than staff related I guess 

[dobbylcfc]

Maybe now the wollys who’s were very vocal in Jan saying sign this player sign that player will understand why we couldn’t now but I doubt it lol 

[Fox in the North]

9 minutes ago, Babylon said:

What dispute was that then?

Dave rennie maybe?

[North Leeds Fox]

Big losses, especially as this is for last season and not this one. Good explanation from the club about the reasons why they are so big and will explain why we didn't strengthen in January. Hopefully we can stay in the top 4 to help with our future finances. 

[jonthefox]

Champions league is essential now. 

[SemperEadem]

The club said the settlement of a legal dispute also contributed to admin expenses increasing by £5.7 million to £23.9 million.

 

Any ideas?

[kyleolly]

How much is the money we received for finishing 5th?

[eblair]

5 minutes ago, kyleolly said:

How much is the money we received for finishing 5th?

season didnt finish until july and our year end is 31st may; so maybe one of reasons results so bad

Edited 19 March 2021 by eblair

[Strokes]

33 minutes ago, Mike Oxlong said:

“The club said the settlement of a legal dispute also contributed to admin expenses increasing by £5.7 million to £23.9 million”

 

Not from a fallout with the tea lady 

Could it be the TV money?

[Mike Oxlong]

Just now, Strokes said:

Could it be the TV money?

Must be a legal dispute settled in the 19/20 season. 

 

Don’t think that there was one between the club and a broadcaster, just an agreement with clubs generally that certain TV monies would be recouped by the broadcasters under the contract 

[majaco]

Our wage bill is obviously quite high.  I think I have seen that we are high up.in the list of wages as a proportion of expenditure.  We have a lot of players who we want to keep.  Tielemans new contract will add to the wage bill.  

 

Extra income from the Champions League would be useful.  That loss suggests we are overspending.   

 

Does it mean we may need to sell one again to recruit two or three?

[surrifox]

Something linked to the settlement of the FFP dispute with EFL ? That dragged on for years .

[StanSP]

Also, these costs in general are no surprise at all. Every club in the land would have made a loss unless they've sold a player for huge money.

 

The figures for this season (20/21) are likely to be the same given we've gone a whole season without fans so I wouldn't expect huge moves in the summer. 

 

Perhaps even more vital we get CL football as it's much more income to benefit from and perhaps halt the losses to such an extent.

 

Nice to see our owners paid staff in full, though, and didn't opt for the furlough scheme for anyone. 

 

[TaggertvsWise]

Big hits across TV money, gate receipts, advertising, general match day revenue and quite a lot due to the revenue lost overseas of merch throughout King Power outlets.

 

Throw in huge wages on players we couldn’t shift and were playing elsewhere and it soon stacks up.

 

Lots of factors.

[kyleolly]

10 minutes ago, eblair said:

season didnt finish until july and our year end is 31st may; so maybe one of reasons results so bad

Yeah that’s why I wondered how much the prize money was so the 20/21 accounts will have two lots of prize money included 

[StanSP]

2 minutes ago, majaco said:

Our wage bill is obviously quite high.  I think I have seen that we are high up.in the list of wages as a proportion of expenditure.  We have a lot of players who we want to keep.  Tielemans new contract will add to the wage bill.  

 

Think there's a few with contracts coming to an end so that will free up some wage bill to give to others.

[Zear0]

https://www.lcfc.com/news/2071687/lcfc-financial-results-201920

 

Includes a summary from Sue

[Grebfromgrebland]

Without reading anything about this isn't most of this the training ground construction?

[Fox seen in Norwich]

29 minutes ago, SemperEadem said:

The club said the settlement of a legal dispute also contributed to admin expenses increasing by £5.7 million to £23.9 million.

 

Any ideas?

Whether to swap the kop end and the family stand 

[Fox in the North]

Imagine most will be become apparent when the accounts are published on Companies House,

[wardyfox86]

EFL FFP dispute?? 

Settlements for families of the helicopter crash?? 

Disputes over construction planning for the stadium/training ground?

 

Could be any or all of them maybe.