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JohnnieFoxWalker

Financial Woes

By JohnnieFoxWalker, in Leicester City Forum

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Babylon

Babylon

Posted
Posted
8 minutes ago, Lambert09 said:

just a reminder that we took a loan with our potential parachute payments as the equity…. meaning if we go down… we don’t have a pot to save us 

It’s a loan facility, it doesn’t mean we’ve actually used the money. Remember we have another large infrastructure project in the pipeline, which much of it will be for.

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st albans fox

st albans fox

Posted
Posted
2 minutes ago, Babylon said:

We don’t normally release our accounts until February, so whilst this may be true. Why would we suddenly announce them 6 months early?

Not making any sense really 

 

we had the first amount of fbs too 

 

as I commented earlier, unless they’ve dumped a whole lot of one off losses into the year to live on from a low point then it’s unlikely 

Matt_Lcfc

Matt_Lcfc

Posted
Posted (edited)

Not surprised whatsoever. Top and his family have put very little money back into the club for years, simply, they have relied on a model whereby we have sold one ‘big player’ and reinvested that money back into us. 
 

Maybe a sustainable for a bit, but poor recruitment eventually leads to a downward trajectory. This has led to both our assets having less value and us not being able to afford to sell specific players.

 

Doesn't even touch the training ground ‘investment.’ The Leicester City accounts suggest that this is being paid on the back of a loan, we are going to be paying that off for years, when I’m pretty sure it’s offering no output. 
 

With that all factored in, and if you look at other clubs, can we not sugarcoat it and laud Top as some hero. The cult that he has in certain elements of the fanbase is slightly bizarre.
 

To put bluntly, the club hierarchy have made some terrible decisions over the past two / three years but people are afraid to speak against the ownership. 

Edited by Matt_Lcfc
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Babylon

Babylon

Posted
Posted
1 minute ago, st albans fox said:

Not making any sense really 

 

we had the first amount of fbs too 

 

as I commented earlier, unless they’ve dumped a whole lot of one off losses into the year to live on from a low point then it’s unlikely 

There could be stuff covid related still dragging on with sponsors etc. Then we spent £60m without banking anything and of course infrastructure stuff, so I can see the loss being massive.

Babylon

Babylon

Posted
Posted
1 minute ago, Matt_Lcfc said:

Not surprised whatsoever. Top and his family have put very little money back into the club for years, simply, they have relied on a model whereby we have sold one ‘big player’ and reinvested that money back into us. 
 

Maybe a sustainable for a bit, but poor recruitment eventually leads to a downward trajectory. This has led to both our assets having less value and us not being able to afford to sell specific players.

 

Doesn't even touch the training ground ‘investment.’ The Leicester City accounts suggest that this is being paid on the back of a loan, we are going to be paying that off for years, when I’m pretty sure it’s offering no output. 
 

With that all factored in, and if you look at other clubs, can we no sugarcoat it and laud Top as some hero. The cult that he has in certain elements of the fanbase is slightly bizarre.
 

To put bluntly, the club hierarchy have made some terrible decisions over the past two / three years but people are afraid to speak against the ownership. 

They’ve loaned the club huge amounts in recent seasons. 

  • Like 1
coolhandfox

coolhandfox

Posted
Posted (edited)
2 minutes ago, Babylon said:

There could be stuff covid related still dragging on with sponsors etc. Then we spent £60m without banking anything and of course infrastructure stuff, so I can see the loss being massive.

The 60m is accounted for over the lengths of there contracts, so there will not be 60m in this year's accounts from those transfer.

 

Only way I can see us losing that much is if Top has called in one of his loans.

 

Edited by coolhandfox
Guest Mickyblueeyes

Guest Mickyblueeyes

Posted
Posted

I’ll expect the club to release a statement with these accounts as to why we are still in safe hands. 

Babylon

Babylon

Posted
Posted
Just now, coolhandfox said:

The 60m is accounted for over the lengths of there contracts, so there will not be 60m in this year's accounts from those transfer.

 

I know, but we already had one of the largest amortisations of players even prior to that, it’s just lumping more on top of it. 

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