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FoxesWalk

King Power Writes Off Entire Club Debt

By FoxesWalk, in Leicester City Forum

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Fox92

Fox92

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As always, I'm not an expert on this sort of stuff but this doesn't mean we are debt free though does it? Because of loans from elsewhere?

 

Isn't this just wiping off debt that we (the club) owed to King Power?

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shiv

shiv

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Just now, Fox92 said:

As always, I'm not an expert on this sort of stuff but this doesn't mean we are debt free though does it? Because of loans from elsewhere?

 

Isn't this just wiping off debt that we (the club) owed to King Power?

As per our latest accounts we have around £70m in debt which I imagine is in part related to the training ground. 

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FoxesWalk

FoxesWalk

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10 minutes ago, Fox92 said:

As always, I'm not an expert on this sort of stuff but this doesn't mean we are debt free though does it? Because of loans from elsewhere?

 

Isn't this just wiping off debt that we (the club) owed to King Power?

Yeah we have loans elsewhere, but we have no debt to king power any more 

surrifox

surrifox

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I'm guessing there were some hard decisions to be made in the parent company as to whether the £190m debt due by the club  was in fact recoverable/ collectible from the club's assets or should need to be provided against as a possible bad debt in the holding company . Converting the debt into equity gives the club a stronger capital base and can then be shown as an investment by KP and lowers the gearing  . The interest on the debt would be a big burden for the club to service in any case .

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foxer

foxer

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I think more important than the debt to equity transfer is what he's said: "Maintaining long-term stability is vital for sustainable growth and a fundamental principle that has always guided our investments in the club's future." 

 

That, amongst other the quotes tells me he's not looking to sell up which, despite his inability/reluctance to sack our egotistical manager, has to be a good thing. 

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Guest Mee-9

Guest Mee-9

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I think he’s selling. 
 

I think the fact he and the board have been missing before the past few weeks shows that he had lost heart. 

st albans fox

st albans fox

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Just now, SemperEadem said:

You want to know the games he has been at?

Which home games has he missed 

 

he was there v Newcastle and Brighton. Not sure about Fulham - think not but wouldn’t stake my life on it. 
 

pre World Cup 

he wasn’t there v man City

he was there for leeds and palace and forest 

 

So he may have missed 2 out of our last seven home games, even though his trip to see a game is 12 hours !

 

 

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