Financial Woes

[coolhandfox]

Just now, Babylon said:

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. 

Yes, but we only lost 33m it the last set of accounts.

 

No way has last summer business, made up 60m-90m loses.

 

 

 

[st albans fox]

2 minutes ago, coolhandfox said:

Yes, but we only lost 33m it the last set of accounts.

 

No way has last summer business, made up 60m-90m loses.

 

Agree

 

bit if anything like accurate, it explains Top’s message in the last home program

[Babylon]

1 minute ago, coolhandfox said:

Yes, but we only lost 33m it the last set of accounts.

 

No way has last summer business, made up 60m-90m loses.

 

 

 

The loss would have been bigger but for the income from previous season being deferred. Then you have wage increases, wages of new players, £15m+ another what £15m+ onto amortisation of players.

 

Loan payments potentially, infrastructure payments potentially. 
 

Even Percy said we were looking at £100m.

[Elvis hammond]

**** me when we are dead who we going to support

[coolhandfox]

3 minutes ago, Babylon said:

The loss would have been bigger but for the income from previous season being deferred. Then you have wage increases, wages of new players, £15m+ another what £15m+ onto amortisation of players.

 

Loan payments potentially, infrastructure payments potentially. 
 

Even Percy said we were looking at £100m.

Can't wait to books.

[Elvis hammond]

Anybody wanna sell there season ticket i got £5 first bid 

[Guest Kopfkino]

10 minutes ago, coolhandfox said:

Yes, but we only lost 33m it the last set of accounts.

 

No way has last summer business, made up 60m-90m loses.

 

 

 

With a 46m player trading profit. We had no player trading profit last season and we've lumped some more onto the amortisation charge and higher wage costs ( to what extent depending on what the likes of Fuchs and Morgan were on at the end)

 

Id be surprised if it was quite so high but it’s going to be grim. Those running the club have ****ed up.

[Guest itude]

2 minutes ago, Kopfkino said:

With a 46m player trading profit. We had no player trading profit last season and we've lumped some more onto the amortisation charge and higher wage costs ( to what extent depending on what the likes of Fuchs and Morgan were on at the end)

 

Id be surprised if it was quite so high but it’s going to be grim. Those running the club have ****ed up.

They surely have yes.

[ARTY_FOX]

They'll get ot worse if the ****ing clown isn't sacked 

[Corky]

16 minutes ago, Elvis hammond said:

**** me when we are dead who we going to support

Absolute worst case scenario there'll be a Phoenix club.

[fazzyfox]

Wondered why Bovril had gone up 30p, makes sense now.

[coolhandfox]

We have the smell of Leeds 2003-04 about us.

 

 

[Tielemans63]

Just now, coolhandfox said:

We have the smell of Leeds 2003-04 about us.

 

 

I was about to post the same. Look at what happened when they pursued the CL dream.

 

Those two final day chokes.....they were even more costly than we thought. 

[sacreblueits442]

43 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?

...didn't we have a post suggesting that we had a big hole in our finance!!!

I do find it hard to believe, that we have loans that have been taken out against league positions and I suspect that this may be a misinterpretation of how we are servicing our infrastructure.

[Sly]

If this is true, not only can’t we sack him. We aren’t paying out another Managers contract. It’ll be like that season where we had more coaches than I have pizzas. 

[Sir Shep]

Be even worse if/when we go down. 

[coolhandfox]

I just can't understand the logic of us spending 60m last summer, the only unknown from an income point of view was how far we went in Europe.

 

From a cost point of view there are few unknowns ether, make no sense spending the money unless they thought it would get them CL football. 

 

 

[pazzerfox]

Won't the cost of the training ground be in these sets of accounts?
 

[indierich06]

Looking at prize money for the PL this year, it seems the best way we can improve our financial position is by ensuring we finish as high as possible. If we just finish 17th and avoid relegation, we'd be £20m off the prize money we would have achieved last season. Pay off Brendan and get someone new in - 14th or upwards more or less covers the compo for the fraudy dwarf.

 

Position	Prize money
1st	£44 million ($54.4 million)
2nd	£41.8 million ($51.7 million)
3rd	£39.6 million ($49 million)
4th	£37.4 million ($46.3 million)
5th	£35.2 million ($43.6 million)
6th	£33 million ($40.8 million)
7th	£30.8 million ($38.1 million)
8th	£28.6 million ($35.4 million)
9th	£26.4 million ($32.7 million)
10th	£24.2 million ($29.9 million)
11th	£22 million ($27.2 million)
12th	£19.8 million ($24.5 million)
13th	£17.6 million ($21.8 million)
14th	£15.4 million ($19.1 million)
15th	£13.2 million ($16.3 million)
16th	£11 million ($13.6 million)
17th	£8.8 million ($10.9 million)
18th	£6.6 million ($8.2 million)
19th	£4.4 million ($5.4 million)
20th	£2.2 million ($2.7 million)

[Terraloon]

On 04/09/2022 at 15:59, coolhandfox said:

Yes, but we only lost 33m it the last set of accounts.

 

No way has last summer business, made up 60m-90m loses.

 

 

 

Some  £33 million that was included in the 20/21 accounts was income deferred from the 2019/20 season.
 

That sum won’t feature in 21/22.
 

I know it doesn’t quite work that way but on a straight line that is £66 million loss. Then you have to factor in that in 20/21 there was £43 million profit from player sales and that number wasn’t there in 21/23 so £43+£66. = £109 million loss to this point

 

FA  prize money for the FA cup won’t be there and TV Money will be down due to league position  but mitigating that will be more match day with the return of full stadiums alas  with that extra costs will return to post COVID levels  for the like of  security and the like.

 

I would think that even if you add in extra UEFA money( which I am far from sure about) and uplift of shirt sponsorship then there will probably be significant additional cost of Seagrave and a full year of paying for LCWFC that will all cost a pretty penny and  that added to the £7.2 million difference for finishing lower in the league +. £3.4 million less from the FA will likely cost close to any extra money bought in through matchday, sponsorship and UEFA combined 

 

Interest as we have said before will be a chuck more the extra £22.5 million loan from McQuires and of course the extra money from KPwill all be attracting interest even if that debt is in part deferred.

 

The looses are going to be massive and as I said before the number being talked about in the press I think is pretty close to the numbers that will be shown in accounts

 

 

 

Edited 10 September 2022 by Terraloon

[davieG]

 

https://www.leicestermercury.co.uk/sport/football/football-news/leicester-city-notebook-40-club-8037122

 

 

Financial results due at the end of next month

The club’s finances has been another hot topic, but there is not yet the clearest picture of where City currently stand, as the most recently available financial results are from the 20-21 campaign. However, new results will be published soon.

The number and details for the 21-22 season are due by February 28 at the latest. It will cover the first season not to be directly affected by Covid, and will cover the summer in which City did not make a major sale to finance their transfers. City have made losses of £100m over the previous two sets of accounts, both directly impacted by Covid, and further losses are expected.

While fans wait for investment into the playing squad, it’s becoming a topic at press conferences too. Rodgers made a point of referencing how few resources City have in being owned by King Power, and without investment from elsewhere.

The manager said: “It’s getting more difficult in this league. The financial resources, not just in the top six, but of other clubs beyond that, makes it really difficult. You have clubs that have multiple injections of finances, where clubs can draw on those resources.

“Whereas, we have one owner and one family that do amazing for this football club. Each year it gets tougher. But that doesn’t soften our ambition to be the best we can and to be super competitive.”

[Fazzer 7]

Why would they spend all those millions on a state of art training facility if Top and co weren't prepared or able to fund it. 

[An Sionnach]

I have noticed some are still spending millions of virtual pounds in the transfer thread. The club needs a touch of careful budgeting but not austerity. We must make full use of our academy and if any investing needs doing it has to be in top class coaches and not on overpriced , underachievers in the transfer market. Have we not learned any lessons?

[Mike Oxlong]

Do we have top class coaches at the club and particularly at the academy ? If not and without change the £100m spend has been a total waste of money 

[davieG]

27 minutes ago, Fazzer 7 said:

Why would they spend all those millions on a state of art training facility if Top and co weren't prepared or able to fund it. 

They planned it and built it before the pandemic annihilated KP and LCFC's finances.