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King Power Writes Off Entire Club Debt

By FoxesWalk, in Leicester City Forum

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Nick

Nick

Posted
  • Popular Post
Posted
17 minutes ago, Daggers said:

I’ll never understand people who go through their lives all servile and desiring to be ruled. It must be nice to be that accepting and unquestioning. It’s almost as if asking questions about the club’s owners is an attack on their own identity.

 

“Ha haaaa, see? See? Do you see this, Top haters? Do you see what he’s done? Bet you don’t feel too clever now, Top haters, with your hate and stuff. Ha haaaaa. I mean, I don’t really understand it because I’ve never run a global company but I have a large credit card bill. Ha haaaa, in your face, Top haters.”

 

Its just terribly, terribly odd.

There’s a flip side to that in terms of those people who peddle hate in to their club narrative at every ridiculous opportunity almost making the forum unreadable. I find that terribly terribly odd too!

 

Im fine with any reasoned criticism of anything, including our owners… (This obviously isn’t directed at you D.)

  • Like 9
FLAN

FLAN

Posted
Posted
16 hours ago, iancognito said:

He's missed 4 this season and tbf was even at the Dubai training camp.

 

He's missed quite a few games over many years, and he's now the CEO of King Power Group. He's literally got to fit football matches in between running a multi-million Duty Free empire and whatever else he has going on in his own life.

 

Let's be honest, would you travel 6000 miles to come and see us play this season?

I’d travel 6000 to avoid watching us 

  • Haha 1
Fox92

Fox92

Posted
Posted
16 hours ago, iancognito said:

He's missed 4 this season and tbf was even at the Dubai training camp.

 

He's missed quite a few games over many years, and he's now the CEO of King Power Group. He's literally got to fit football matches in between running a multi-million Duty Free empire and whatever else he has going on in his own life.

 

Let's be honest, would you travel 6000 miles to come and see us play this season?

Who's bothered if he comes to games or not. I've never understood why owners get criticised for not going, does it really matter?

Daggers

Daggers

Posted
Posted
1 hour ago, Nick said:

There’s a flip side to that in terms of those people who peddle hate in to their club narrative at every ridiculous opportunity almost making the forum unreadable. I find that terribly terribly odd too!

 

Im fine with any reasoned criticism of anything, including our owners… (This obviously isn’t directed at you D.)

I've got my big boy pants on, I can take it :D

  • Like 1
Scanchez

Scanchez

Posted
Posted
18 hours ago, TaggertvsWise said:

How is this not the top trending topic right now and for the next year. This is absolutely huge.

Because it's not really moan-worthy.

  • Like 2
st albans fox

st albans fox

Posted
Posted
4 hours ago, Fox92 said:

Who's bothered if he comes to games or not. I've never understood why owners get criticised for not going, does it really matter?

He is very engaged as a supporter at games - constantly looking at replays and discussing stuff with rudders.  

 

brighton had the most enthusiastic opposition board I’d seen at a game for some time when they scored. some owners are just owners. not fans.  Top is totally a fan.   Is it in his blood like most of us ?  I’ve not discovered a club in mid life so I wouldn’t know how ingrained it gets 

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WigstonWanderer

WigstonWanderer

Posted
Posted

I haven’t read the whole thread so I’m sure this has already been done to death, but financially I can’t see this makes much difference to KPs overall position as LCFC is  wholly owned by them. They had a debt laden asset worth a certain amount, and that debt is owed to KP. If they cancel the debt, LCFC value goes up, while the value of the rest of KP goes down by the same amount. Total value of KP is unchanged.

 

Could be a sign of increased commitment to the club, or could be fattening it up for sale. Probably just an internal housekeeping exercise that has some financial engineering or FFP advantages.

drew

drew

Posted
Posted
6 minutes ago, WigstonWanderer said:

I haven’t read the whole thread so I’m sure this has already been done to death, but financially I can’t see this makes much difference to KPs overall position as LCFC is  wholly owned by them. They had a debt laden asset worth a certain amount, and that debt is owed to KP. If they cancel the debt, LCFC value goes up, while the value of the rest of KP goes down by the same amount. Total value of KP is unchanged.

 

Could be a sign of increased commitment to the club, or could be fattening it up for sale. Probably just an internal housekeeping exercise that has some financial engineering or FFP advantages.

Perhaps King Power have made significant profits and need a write off 

 

sacreblueits442

sacreblueits442

Posted
Posted
13 hours ago, ClaphamFox said:

It makes very little difference. King Power never intended the loans to be paid off and would not insist on them being repaid in the event of a sale. It hasn't increased the value of the club. All it's done is improved our balance sheet, probably with the aim of borrowing more money to fund the stadium expansion.

...doesn't it mean that there is now more equity in the club!!!

UHDrive

UHDrive

Posted
Posted

I'd like to know if anyone can give me any advice on all of this. I understand that the club has had a large and significant debt taken off by Top and the owners and I'll always be extremely grateful for what they have done and what they continue to do. 

 

My question is: Could this debt that has been removed have anything to do with the proposed stadium construction costs, and if so, would that effectively mean slapping another load of debt back on that might be a similar amount or more? 

 

As I've said, I'm far from knowledgeable on this! 

sylofox

sylofox

Posted
Posted
On 01/02/2023 at 13:30, SemperEadem said:

Top himself has been at very few games for a quite a while now.

Perhaps the corner shop he runs back home is taking a little more time than it used to.

Mopping the floor doing the rubbish serving re stocking shelves.

sylofox

sylofox

Posted
Posted
2 hours ago, UHDrive said:

 

 

My question is: Could this debt that has been removed have anything to do with the proposed stadium construction costs, and if so, would that effectively mean slapping another load of debt back on that might be a similar amount or more? 

 

It's possible it's more to do with Thai tax laws. But as I don't understand ours I have no clue really 😂😂😂😂

  • Haha 1
Chrysalis

Chrysalis

Posted
Posted
On 01/02/2023 at 19:35, Freeman's Wharfer said:

Football fans make me laugh…
 

Some (including myself) have called out the lack of investment and money loaned against the club’s assets and for the first time since they arrived there has been criticism and question of the owners.

 

Said owners then make this move (which is a genuine investment in the club) and the King Power FC crowd take the moral high ground and start calling out those who raised questions as somehow wrong.

 

This is the step in the right direction we have been calling for. This is them doing what we were criticising them for not doing. If anything, it shows we were right to call it out to begin with!

 

But if your unerring and unquestioning love for Top and/or King Power feels somewhat validated today then I’ll let you enjoy your moment!

 

 

Same thoughts, there has been a lot of name calling from people who have suddenly appeared from the shadows which is uncalled for, and apparently people are jerks for been concerned about the welfare of their club.

 

  • Like 1
st albans fox

st albans fox

Posted
Posted
7 hours ago, drew said:

Pile of conjecture and doesn't stand any scrutiny, no way Barnes is on 10k for instance.

 

3 hours ago, sylofox said:

😂😂😂😂😂😂

Fiscal year ending 30th june 2022.

So Kasper was paid nothing for the whole of last season.

But we paid Alex Smithies.

 

Don't take a lot of working out that it's 99% bollox.

At least it tells us that fosse hub should be ignored on social media (if we didn’t already know )

  • Like 2

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