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

[Solihullfox]

What’s to say that once they’ve “offed” the cockwomble that the family won’t satisfy some of the loans themselves and then invest in the team in January/summer 2023 when they have a manager in place who they are prepared to back in the transfer market 

[desertfox2]

14 minutes ago, foxes_rule1978 said:

It was sarcastic  sorry… I was basically saying they are too comfy in the new place and aren’t putting in the work 

It's hard to get out of bed early in the morning and go for a run in silk pyjamas ala Marvin Hagler. 

[leicesterseddon]

Can we really have run up losses that big from overpaying our deadwood? 
 

Something doesn’t seem right, somehow 

[lcfc_forever]

5 minutes ago, KingsX said:

Everton fan (?) observing from a distance ... simple perspective which eludes most of us riding the roller coaster.

 

Was thinking exactly this. 
 

Only way to overcome it is having super-rich owners and/or major commercial revenue.
 

We have neither currently, albeit our owners are billionaires but not the level of Newcastle or Man City. 

Edited 4 September 2022 by lcfc_forever

[Jakemoore]

Yet I had some moron on the train shouting abuse at a Brighton fan about how we’re going to sack BR and bring Graham Potter in because we can afford to double what Brighton pay him. 
 

We are ****ed. We can’t even afford to sack BR which is why the ****er is still in charge. This is going to be a long, tough season with the only goal being survival. God help us. 
 

I do wonder if Top would consider bringing in an investor. I guess he wouldn’t want to be relinquish some of his 100% stake in the club but if he can’t afford to finance the club to the tune needed then I don’t see where we go from here. 

Edited 4 September 2022 by Jakemoore

[foxes_rule1978]

3 minutes ago, Jakemoore said:

Yet I had some moron on the train shouting abuse at a Brighton fan about how we’re going to sack BR and bring Graham Potter in because we can afford to double what Brighton pay him. 
 

We are ****ed. We can’t even afford to sack BR which is why the ****er is still in charge. This is going to be a long, tough season with the only goal being survival. God help us. 
 

I do wonder if Top would consider bringing in an investor. I guess he wouldn’t want to be relinquish some of his 100% stake in the club but if he can’t afford to finance the club to the tune needed then I don’t see where we go from here. 

Yeah there is no way we can bring a manager in that is already employed. And maybe it wouldn’t be a bad move to bring in another investor, but it depends how bad things truly are. On the outside no doubt things look shit 

Edited 4 September 2022 by foxes_rule1978

[dylanlegend]

8 minutes ago, KingsX said:

Everton fan (?) observing from a distance ... simple perspective which eludes most of us riding the roller coaster.

 

I disagree. I don’t think we’ve financially tried to compete with the top 6 at all!? No more than Everton, West Ham, Wolves!? We’re not after players on 200k a week. It’s just we had players that were world class on lower wages and obviously we can’t replace them cos we are not paying the big wages.
 

We shouldn’t however be bottom of the league with the class of player we have currently at the club (financially 8th highest wage bill) and that’s down to the manager 

[Jakemoore]

1 minute ago, dylanlegend said:

I disagree. I don’t think we’ve financially tried to compete with the top 6 at all!? No more than Everton, West Ham, Wolves!? We’re not after players on 200k a week. It’s just we had players that were world class on lower wages and obviously we can’t replace them cos we are not paying the big wages.
 

We shouldn’t however be bottom of the league with the class of player we have currently at the club (financially 8th highest wage bill) and that’s down to the manager 

I think we’ve tried to build to the stage where we’re consistently a top 6 side which nearly worked. One bad summer and a season of horrendous injuries and that was all lost. I wouldn’t say we’ve tried to compete in terms of paying players £200k pw or whatever but we definitely pay our fringe players more than a midtable side wild. That is trying to compete. 

[Sublime_Coatsworth]

9 minutes ago, leicesterseddon said:

Can we really have run up losses that big from overpaying our deadwood? 
 

Something doesn’t seem right, somehow 

Even if we can get rid of Rodgers there’s clearly major issues with the running of the club.
 

How on earth has the Board allowed this situation to occur? They’ve allowed and sanctioned spending which has put the club in an almost impossible position. They’re all culpable.

[Elvis hammond]

We are in a big mess fact from the top to the core 

[Babylon]

28 minutes ago, Parafox said:

A loan... A LOAN. Loans have to be repaid.

 

And now look where we are. Skint.

 

It's easy to throw riches around in times of bountifulness. 

Loans can be converted into equity.

[Free Falling Foxes]

10 minutes ago, Jakemoore said:

Yet I had some moron on the train shouting abuse at a Brighton fan about how we’re going to sack BR and bring Graham Potter in because we can afford to double what Brighton pay him. 
 

We are ****ed. We can’t even afford to sack BR which is why the ****er is still in charge. This is going to be a long, tough season with the only goal being survival. God help us. 
 

I do wonder if Top would consider bringing in an investor. I guess he wouldn’t want to be relinquish some of his 100% stake in the club but if he can’t afford to finance the club to the tune needed then I don’t see where we go from here. 

I look forward to that edition of Dragon's Den

[Parafox]

Just now, Babylon said:

Loans can be converted into equity.

OK. I'm just a simple Paramedic who sees things from a simple aspect. I have no real understanding of financial operations. I only said what I thought was a possibility in terms of the finances of our owners.

[Babylon]

15 minutes ago, leicesterseddon said:

Can we really have run up losses that big from overpaying our deadwood? 
 

Something doesn’t seem right, somehow 

Ground expansion

Training Ground

Interest on loans

Wages

£60m on players

Player fees get amortised across the length of their contract. Which essentially means money we paid for someone 5 years ago on a 5 year contract shows on the books.

Energy Bills (£16m last accounts).

Loans could have been called in or rearranged 

 

[DJ Barry Hammond]

This shouldn’t be a suprise to many - our wage bill was north of 80/90% of our turnover before last summer I believe.

 

The club hasn’t turned a profit for years, so why should it all of a sudden now? 
 

The bigger issue this time is the annual amount has become one it’s not sensible to ignore.

[Sly]

15 minutes ago, Jakemoore said:

Yet I had some moron on the train shouting abuse at a Brighton fan about how we’re going to sack BR and bring Graham Potter in because we can afford to double what Brighton pay him. 
 

We are ****ed. We can’t even afford to sack BR which is why the ****er is still in charge. This is going to be a long, tough season with the only goal being survival. God help us. 
 

I do wonder if Top would consider bringing in an investor. I guess he wouldn’t want to be relinquish some of his 100% stake in the club but if he can’t afford to finance the club to the tune needed then I don’t see where we go from here. 

Unfortunately due to the helicopter tragedy, I think they’ll view us as a family heir loom. 
 

It’s not like is OHL we’re in the same position. I think they’d sell them in a heart beat. 

[Jattdogg]

1 hour ago, Solihullfox said:

And you’ll eventually accidentally pull a ladyboy on a works night out 

Doubtful.

[Jattdogg]

Anyone good friends with bezos?

[whitwickfox]

if this is the case then how come we didnt let players go in the last window. players such as  praet /sourmare/thomas. probably another 50 million there and none of them good enough for us

[Parafox]

1 minute ago, DJ Barry Hammond said:

This shouldn’t be a suprise to many - our wage bill was north of 80/90% of our turnover before last summer I believe.

 

The club hasn’t turned a profit for years, so why should it all of a sudden now? 
 

The bigger issue this time is the annual amount has become one it’s not sensible to ignore.

This encapsulates what I was trying to say, really. Where has the money gone? Why has investment dried up? The KP empire is in trouble ergo, so is LCFC.

[LestaAl]

We really need to see the details in the full set of numbers.

-non cash write offs could be significant 

- financial fair play rules may now be the limit on future player transfers  in and out.

cash balance is king but loans in the medium term still have to be repaid.

king power is a separate business and their finances are only an issue if funds are needed to move between them and the club which  I believe has not been the case for several years.

[Simoken]

Is this is the case then, im sorry for Top needs to sell shares to a richer investor.

[Bazly]

With our record signing a long way short of £85mn and spending £200mn every window I don't think pundits can really claim we have been trying to compete at a financial level with the indulged clubs.

[fox in the sox]

1 hour ago, melrose said:

It looks more and more like we've had our few years in the big league

And just as clubs such as Stoke have done

We are in the process of returning to mediocrity

It was a great ride while it lasted and I wouldn't have missed it for the world! 

Not many ‘middle size’ clubs have managed to stay in it for long periods. The likes of Sunderland, Stoke, West Brom and Swansea had decent runs but it came to an end for all of them. Brighton and Brentford are having their turn at the moment but you only need one bad managerial appointment or a few bad signings and it soon goes wrong. This is why I have never been keen on an extended stadium because 40,000 is too big for us in the Championship. 

[FoxFossil]

Any accountants out there? This doesn't add up. Are the KP loans to the club, for training centre, showing in a single year's figures? Lots and lots of questions. Might all be 'normal accounting practice.'