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happy85

LEICESTER POSTS £67M PRE-TAX LOSS

By happy85, in Leicester City Forum

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Mike Oxlong

Mike Oxlong

Posted
Posted (edited)

“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 by Mike Oxlong
  • Haha 1
Babylon

Babylon

Posted
Posted
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

Mike Oxlong

Posted
Posted
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 

North Leeds Fox

North Leeds Fox

Posted
Posted

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. 

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eblair

eblair

Posted
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Posted (edited)
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 by eblair
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Strokes

Strokes

Posted
Posted
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

Mike Oxlong

Posted
Posted
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 

  • Like 1
majaco

majaco

Posted
Posted

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?

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StanSP

StanSP

Posted
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Posted

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. 

 

  • Like 11
Guest TaggertvsWise

Guest TaggertvsWise

Posted
Posted

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

kyleolly

Posted
Posted
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 

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StanSP

StanSP

Posted
Posted
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.

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wardyfox86

wardyfox86

Posted
Posted

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. 

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