Leicester to reveal estimated annual losses of £119.5MILLION - the highest in the Premier League

[davieG]

https://www.dailymail.co.uk/sport/football/article-11178489/Leicester-City-reveal-estimated-annual-losses-119-5MILLION-highest-Premier-League.html

 

By NICK HARRIS and ALEX MILLER FOR MAILONLINE

PUBLISHED: 13:19, 4 September 2022 | UPDATED: 16:22, 4 September 2022

Leicester City's financial woes will be laid bare when the club reveal estimated annual losses of £119.5million.

Brendan Rodgers' side are predicted to have lost the most of any Premier League club over the course of last season.

Financial experts at Off The Pitch say only Manchester United's losses will go close to Leicester's, with their deficit to be £117m after splashing out on Cristiano Ronaldo, Jadon Sancho and Raphael Varane last summer.

Leicester City are set to announce the Premier League's highest annual loss of £119.5million
Leicester bought just one player this summer, and sold defender Wesley Fofana to Chelsea


Leicester signed just one outfield player this summer – Wout Faes from Stade de Reims for around £15m – and sold key defender Wesley Fofana to Chelsea £69.5m shortly before the transfer window shut.

Arsenal are expected to post losses of £84m, while north London rivals Tottenham face a £48m deficit. Newcastle United's spending under their new Saudi ownership mean the club are set to post losses of £40m.

Sportsmail previously reported that Premier League clubs have come under criticism after it emerged that the 20 teams spent a collective £2bn on transfers before the window shut on Thursday.

Antony's move to Manchester United was one of the most expensive transfers in this window

That figure is a record high, significantly more than the £1.45bn spent by clubs in 2017, as new owners look to push up the table, fight for European places, or even just survive one of the world's toughest leagues. 

These losses may not even be a temporary issue, with seven of the ten most expensive moves of this transfer window coming to English clubs, including Antony's £85.5m move to Manchester United and Darwin Nunez's £85m switch to Liverpool.  

The eye-watering amounts of money also appear to be out of touch with the reality of everyday life, as people struggle to deal with the cost of living crisis across England.  

[Mike Oxlong]

It’s ok. We’ve got our losses secured against our future PL income 

[KingsX]

[Collymore]

1 minute ago, davieG said:

The eye-watering amounts of money also appear to be out of touch with the reality of everyday life, as people struggle to deal with the cost of living crisis across England.  

**Adding this in will bound to get readers on our side**

[Sir Shep]

There's another thread on this story isn't here? 

Edited 4 September 2022 by Sir Shep

[Pliskin]

[Merging Cultures]

Someone is going to have to do the calculations for me. This just doesn't seem feasible.

[foxes_rule1978]

Just now, Merging Cultures said:

Someone is going to have to do the calculations for me. This just doesn't seem feasible.

Yeah I agree, seems strange 

[roblcfc84]

How? Something seems very off here…I hate to say this…have we helped out King Power during COVID? 

[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. 

[Parafox]

This was mentioned on RL sport. No wonder we couldn't afford players in the transfer window and had to sell Fofana. BR is payed far too much based on the partial successes of the the last 2 seasons as are the main players in the 1st team. Seems KP are struggling as a result of the Covid travel restrictions as well as overpaying our players and BR. TBF they couldn't have foreseen the events of the last 2 years in terms of the impact on KP's finances. Now we reap the results of some (possibly) over ambition?

Or have KP done what the Glazers did and used our club as collateral to keep their main interests afloat? I hope not. I really hope not.

Edited 4 September 2022 by Parafox

[foxes_rule1978]

Just now, Parafox said:

This was mentioned on RL sport. No wonder we couldn't afford players in the transfer window and had to sell Fofana. BR is payed far too much based on the partial successes of the the last 2 seasons as are the main players in the 1st team. Seems KP are struggling as a result of the Covid travel restrictions as well as overpaying our players and BR. TBF they couldn't have foreseen the events of the last 2 years in terms of the impact on KP's finances. Now we reap the results of some (possibly) over ambition?

Even so the loses are huge even with the big wages for some. 

[StanSP]

Is this what Rodgers is alluding to with some of his post-match comments today? 

 

About knowing the inner workings of the club and the strategy etc...

[Dames]

Hate to say it but i’ve been saying all summer about us being skint and in trouble and unfortunately its true.

 

How are things this bad when our net spend over the past 5 years is lower compared to other clubs our size? 
 

Serious mismanagement. Heads need to roll. 

[Dahnsouff]

1 minute ago, roblcfc84 said:

How? Something seems very off here…I hate to say this…have we helped out King Power during COVID? 

Thought KP lost £1.7bn so £100m is barely going to touch the sides. 

[Ginger_Filbert]

Just now, StanSP said:

Is this what Rodgers is alluding to with some of his post-match comments today? 

 

About knowing the inner workings of the club and the strategy etc...

Possibly, I did think that myself. 
 

However it doesn’t make sense that we genuinely didn’t want to sell Fofana, if it was so bad we’d have been much more receptive to the idea. 
 

I know we sold him in the end but numerous journos have said we really didn’t want to. 

[Jock's Hill]

Maybe our selling of one big asset each summer window was the right way to go. Did we overestimate ourselves.

It seemed great for us as a club at the time but maybe that is our level in terms of financial continuity.

[Parafox]

2 minutes ago, Dames said:

Hate to say it but i’ve been saying all summer about us being skint and in trouble and unfortunately its true.

 

How are things this bad when our net spend over the past 5 years is lower compared to other clubs our size? 
 

Serious mismanagement. Heads need to roll. 

I do wonder if the KP franchise has done similar to the Glazers and used our club to keep their main interests afloat?

[I blame Wellens]

Can’t blame Wellens for that 

[Danny280995]

Club needs to be sold, Top can't do it, same excuses next year, we will be protecting the future of the club with its finances. Top doesn't want to admit he can't keep Leicester forward..don't care if people blast me for, the future needs a better investor 

[HarryDee8]

Need the board to wakey wakey and answer this straight away with a press release

[STUHILL]

Well, they did say enjoy it while it lasts. It's been emotional guys. 

 

Edited 4 September 2022 by STUHILL

[foxes_rule1978]

3 minutes ago, Dahnsouff said:

Thought KP lost £1.7bn so £100m is barely going to touch the sides. 

I might be naive here, but shouldn’t the club be separate to KP? 

[Dames]

2 minutes ago, Ginger_Filbert said:

Possibly, I did think that myself. 
 

However it doesn’t make sense that we genuinely didn’t want to sell Fofana, if it was so bad we’d have been much more receptive to the idea. 
 

I know we sold him in the end but numerous journos have said we really didn’t want to. 

The line about us not wanting to sell was propaganda. He was on a 5 year deal and we held all the cards especially with the gentlemens agreement too. 
 

We sold in the end, probably some truth to what Fofana said as well. 
 

The proof is in the fact that we spent pennies to replace him on a player than cried when he was getting 30k a week and got nobody else in. 

[Sly]

Talk of a hole in the finances ….