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Guest glasgowfox

Finances

By Guest glasgowfox, in Leicester City Forum

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Guest glasgowfox

Guest glasgowfox

Posted
Posted
28 minutes ago, Vlad the Fox said:

If this was the case then Wes would have gone for 70m and Madders for 50m when the offers were on the table, debt halved. Your mate sounds like the “knowledgeable bloke we sometimes come across in the pub who has read all the headlines and contrived it into a convincing story of woe” for anyone that will listen. 

Understand your drift but not sure where I said my mate?? 

Vlad the Fox

Vlad the Fox

Posted
Posted
Just now, glasgowfox said:

Understand your drift but not sure where I said my mate?? 

My mistake, but that strengthens my argument of some know it all you’ve come across whose concocted his own tale of woe for anyone that will listen. We’ve all come across them at various times. 

MonarchFox

MonarchFox

Posted
Posted

There was a football study done 6 months or so ago and we were one of only 4 teams in Europe operating with no debt.  The others were Chelsea, PSG and Man City.

 

Our issue is FFP and our wage bill v turnover.  Covid has meant we have breached the threshold last 2 seasons.

 

Hence we need to get players off the books that are being paid good money and not playing reg. 4 signings last summer and not 1 is a starter

  • Like 1
grobyfox1990

grobyfox1990

Posted
Posted
1 hour ago, Le4fox said:

I have a feeling king power may be selling up would make sense in the lack lister attitudes and ppl wanting to leave, kasper also said he wouldn't like to see anyone but kP run lcfc I think there's something in that and why he left so suddenly 

Schmeichel left as his personal companies are registered at pride park. Simply not on and unforgivable, the fans rightly forced him out.

SemperEadem

SemperEadem

Posted
Posted
16 minutes ago, MonarchFox said:

There was a football study done 6 months or so ago and we were one of only 4 teams in Europe operating with no debt.  The others were Chelsea, PSG and Man City.

 

Our issue is FFP and our wage bill v turnover.  Covid has meant we have breached the threshold last 2 seasons.

 

Hence we need to get players off the books that are being paid good money and not playing reg. 4 signings last summer and not 1 is a starter

That study was fake news.

KFS

KFS

Posted
Posted
4 minutes ago, grobyfox1990 said:

Schmeichel left as his personal companies are registered at pride park. Simply not on and unforgivable, the fans rightly forced him out.

What is this?

Terraloon

Terraloon

Posted
Posted (edited)
2 hours ago, MonarchFox said:

Report is on Deloitte website if you fancy a read

The Deloitte report is and always has been a really decent read although there is one hellava lot to take in but if you haven’t got any wet paint to watch dry here is 

 

Read from page 18 on re debt
 

 

https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/sports-business-group/deloitte-uk-annual-review-of-football-finance-2022.pdf

Edited by Terraloon
Vestan Pance

Vestan Pance

Posted
Posted

I honestly know nothing about the financial situation but I did visit Seagrave recently and my two overriding feelings were one of total awe of the place and the second thought was "what is the cost of running a facility like this?" Honestly it's like Disneyland for footballers and it must be costing the earth to operate.

 

There's been a huge increase in staff employed by the club and I worry how sustainable it is to operate in the short term before the new players come through to ultimately pay the bills. Let's not forget this is in addition to Belvoir Drive. I'm sure all the finances have been worked out, but the increased costs could be hitting the budgets elsewhere?

  • Like 2
moore_94

moore_94

Posted
Posted

We need to pull some crap like Watford have just done with Udinese through Leuven - selling a player to their sister club for a significant fee then getting him back on loan - no doubt come back permanently if they come back up as well

  • Like 1
Claridge

Claridge

Posted
Posted
On 21/08/2022 at 20:06, Vestan Pance said:

I honestly know nothing about the financial situation but I did visit Seagrave recently and my two overriding feelings were one of total awe of the place and the second thought was "what is the cost of running a facility like this?" Honestly it's like Disneyland for footballers and it must be costing the earth to operate.

 

There's been a huge increase in staff employed by the club and I worry how sustainable it is to operate in the short term before the new players come through to ultimately pay the bills. Let's not forget this is in addition to Belvoir Drive. I'm sure all the finances have been worked out, but the increased costs could be hitting the budgets elsewhere?

They should sell belvoir drive and locate the womens team to seagrave

  • Like 2
sacreblueits442

sacreblueits442

Posted
Posted
On 20/08/2022 at 21:01, glasgowfox said:

I am only the messenger.   Anyone that has read my posts will know I don't pretend to be in the know.   I was told today by a guy who said he is in the know that the club are in dire financial difficulty.   Apparently 250 million in debt that has been hidden.   Allegedly the club have taken out a huge loan against assets including 20% of TV rights and if it goes tits up then we have agreed to pay parachute payments against the loan..... Before somebody comes back with oh a, friend of a friend of a friend... I am just saying what I have allegedly been reliably told.... I can take a slating but be prepared to eat humble pie if its correct bacause if it is then I expect it to hit the news in the next few weeks...genuinely hope I am wrong but I have my fears...ties in with KP not even sponsoring us anymore... 

...would be interesting to see who this debt is owed to and how it came about if real!!!

I can understand loans being on the books for the training ground and now for the stadium expansion and other buildings but these would have been partly written down, especially with the training ground loan. The total value of the loans would be about £250m, but it would not have been hidden.

  If all this is correct, you would think that this matter would have been investigated as a potentially big scoop regarding the club which defied the odds in the biggest upset in the history of the sport.

Guest glasgowfox

Guest glasgowfox

Posted
Posted
1 minute ago, sacreblueits442 said:

...would be interesting to see who this debt is owed to and how it came about if real!!!

I can understand loans being on the books for the training ground and now for the stadium expansion and other buildings but these would have been partly written down, especially with the training ground loan. The total value of the loans would be about £250m, but it would not have been hidden.

  If all this is correct, you would think that this matter would have been investigated as a potentially big scoop regarding the club which defied the odds in the biggest upset in the history of the sport.

Totally agree.   2 weeks and I will feel easier and think it's a load of horse shite

Babylon

Babylon

Posted
Posted
5 minutes ago, sacreblueits442 said:

...would be interesting to see who this debt is owed to and how it came about if real!!!

I can understand loans being on the books for the training ground and now for the stadium expansion and other buildings but these would have been partly written down, especially with the training ground loan. The total value of the loans would be about £250m, but it would not have been hidden.

  If all this is correct, you would think that this matter would have been investigated as a potentially big scoop regarding the club which defied the odds in the biggest upset in the history of the sport.

It’s all real, but none of it is hidden. It’s in our books and all on companies house. 
 

Someone has found out a few facts freely available and twisted it into a scare story, because presumably they don’t understand it. 

  • Like 4
sacreblueits442

sacreblueits442

Posted
Posted
On 20/08/2022 at 23:09, grobyfox1990 said:

Not on. Needed to leave. No respect for the fans lol 

295ED316-B1A2-44D5-BD9E-438A2B693CA6.png

....Derby appears to be the destination for business enterprise address!!!

Just take a look at the advertised chances to win money and prizes on tv and you find the addresses are for Derby.

  • Like 1
Babylon

Babylon

Posted
Posted
3 minutes ago, sacreblueits442 said:

....Derby appears to be the destination for business enterprise address!!!

Just take a look at the advertised chances to win money and prizes on tv and you find the addresses are for Derby.

Loads of accountants there, one of my old companies was registered there.

  • Like 1
CosbehFox

CosbehFox

Posted
Posted (edited)
On 21/08/2022 at 09:09, MonarchFox said:

Report is on Deloitte website if you fancy a read

You can read it and it won't mention no debt. In fact the report actually mentions us as one of the clubs in the Premier League with the highest amount of debt (£199 million). 

 

 

 

Edited by Cardiff_Fox
  • Like 1
Fox in the North

Fox in the North

Posted
Posted

Have a look at the amount of debt Brighton are in. It’s just loans from Tony Bloom who is a Brighton fan. It’s tonnes of debt but he’s never going to call it in because he loves the club. As long as the club still has cash flow there won’t be much to worry about. 

sacreblueits442

sacreblueits442

Posted
Posted (edited)
8 minutes ago, Fox in the North said:

Have a look at the amount of debt Brighton are in. It’s just loans from Tony Bloom who is a Brighton fan. It’s tonnes of debt but he’s never going to call it in because he loves the club. As long as the club still has cash flow there won’t be much to worry about. 

....he also owns Royale Union Saint-Gilloise who plays in the Jupiler League the same division as OHL!!!

Edited by sacreblueits442
Spelling Error.
  • Like 1

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