Leicester City Post Record Losses of £92.5m

[Death by Football]

32 minutes ago, Kilworthfox said:

For a PR exercise as well. Expensive.

Doesn’t seem a huge wedge. Not a million miles from Jannick’s annual wage. 

[TrentFox]

So the average player’s wage is £84k? Well, a lot of our players must earn exactly that, given how average they are. 

[LVFox]

Shows how important that summer was, and how we absolutely ****ed it.

Also shows how we had nothing to spend until Fofana left.

 

However, it appears the club has learnt it flew way too close to the sun and we need to trim wages down and reinvest in a smaller market (Such as Kristiansen and Souttar signings).

 

These accounts don't really add much to what we already knew, this summer is huge!

[Glorious Leicester Fan]

7 minutes ago, TrentFox said:

So the average player’s wage is £84k? Well, a lot of our players must earn exactly that, given how average they are. 

Not necessarily. I imagine there’s a significant +/- skew in wages. Knowing the SD/mean deviation would help.

[Foxxed]

Too skint to sack Brendan then? I really have nfi

[VLC86]

1 hour ago, Mickyblueeyes said:

What's the CMA investigation - anyone know ?

C unts Muppets Arseholes apparently, early findings are they are aplenty at Seagrave.

[VLC86]

53 minutes ago, Lako42 said:

How the **** we've allowed our avg wage to be £84k a week is beyond me. 

 

Someone is taking the piss

When you say someone, you mean everyone don’t you?

[Daggers]

[st albans fox]

I have a feeling that we didn’t sell anyone in summer 21 because rodgers had indicated to the board that selling a star player would make it v difficult to qualify for europe again. 
 

in retrospect, we should have sold someone for 40/50m and brought a younger option for 10/15m. 

[An Away Move]

I hope this makes it crystal clear to everyone why it has been so galling to hear Rodgers say he hasn’t been backed. He was backed. We didn’t sell our best assets and we did bring in new players. It’s dishonest of him to feed that line to the press and disrespectful to the club. 

[Babylon]

2 hours ago, Lcfc098 said:

That was our debts which we owed to King Power. Our losses are something different are they not? 

That’s what I just said, I said we didn’t write them off. 
 

Now, you can argue the two are linked, they plugged gaps in our finances with loans and then wrote off said loans. But released accounts v reality at this moment are a long way apart, so who knows. Those old loans could have been replaced with new ones by now. 

[FoxTimmy2]

That's probably why Brendan hasn't been sacked yet. Does 'wages' only include players, or all wages paid in the organization?

The finances are awful, and we need to get rid of our deadweight, but I suspect it won't be easy. Vestergaard will likely never again receive an offer even remotely close to the one he has here, so he will most likely let his contract run its course. As for Ward he'd be lucky to be paid in gum!

[Babylon]

40 minutes ago, TrentFox said:

So the average player’s wage is £84k? Well, a lot of our players must earn exactly that, given how average they are. 

I’ve not looked at these accounts yet, but normally they aren’t separated from staff costs. Which is hundreds and hundreds of people, including all office staff, manager and his team, DOF, directors, ground staff, staff to run two training grounds etc etc. Plus it will include bonuses for wins, position, match day fees, etc etc. 

 

So the reality is it’s nothing like 84k a week on average. Plus you have people on a lot more, so many are on vastly less. 

[Ric Flair]

The astronomical increase in wages in recent years is staggering, this is one of the most destructive strategic decisions we've taken and will be every bit as costly to our future as the regression on the pitch.

 

I think we go bang soon and not in a good way

[Ric Flair]

1 minute ago, Babylon said:

I’ve not looked at these accounts yet, but normally they aren’t separated from staff costs. Which is hundreds and hundreds of people, including all office staff, manager and his team, DOF, directors, ground staff, staff to run two training grounds etc etc. Plus it will include bonuses for wins, position, match day fees, etc etc. 

 

So the reality is it’s nothing like 84k a week on average. Plus you have people on a lot more, so many are on vastly less. 

I wouldn't expect those wages to total more than £30m though would you?

[An Sionnach]

10 minutes ago, Ric Flair said:

The astronomical increase in wages in recent years is staggering, this is one of the most destructive strategic decisions we've taken and will be every bit as costly to our future as the regression on the pitch.

 

I think we go bang soon and not in a good way

We have to pay otherwise we will not recruit or retain players. You do not stay in the PL on the cheap. Our income is nothing like enough , from match receipts, commercial business or selling players. Tielemans and Maddison are still underpaid by PL standards for players of their class.

[adam]

84k a week in wages is a shocker.

Only one real big money saleable asset left in maddison.

The club has been ran so poorly the past couple of years.

[so1]

3 hours ago, Dahnsouff said:

Wasn’t it more that the covid/global financial issue ruined the opportunity for large sales for 2 years, and that basically buggered our model during that period?

Just the beginning. Nobody wants to talk about the elephant in the room. Global financial system.

[HankMarvin]

1 hour ago, MPH said:

I do see your point. Sadly I also think it’s time for Jamie Vardy to retire.

 

I don’t see  us signing 6-7 out of contract players so whilst we might see a reduction in wages that’s likely to be eaten up in some transfer fee outlays.. it’s hard to get a decent player for less than 15m these days!

Could do a job in the championship with a different manager 

[KingsX]

3 hours ago, Tommy G said:

LCFC women’s operation has cost the thick end of £4m - Jeez

 

A whole team for less than what Bertrand plus Vestergaard get for running around (or not) on the training pitches.

[1972 Fox]

6 hours ago, Tommy G said:

But we’ve shown great character 

"It's just the consistency and mentality that have been lacking recently." 

[fuchsntf]

4 hours ago, An Sionnach said:

We have to pay otherwise we will not recruit or retain players. You do not stay in the PL on the cheap. Our income is nothing like enough , from match receipts, commercial business or selling players. Tielemans and Maddison are still underpaid by PL standards for players of their class.

Leicester Lidle.

[Lambert09]

5 hours ago, Ric Flair said:

The astronomical increase in wages in recent years is staggering, this is one of the most destructive strategic decisions we've taken and will be every bit as costly to our future as the regression on the pitch.

 

I think we go bang soon and not in a good way

I must admit when vardy signed his latest deal I did wince a bit. It made me a little uneasy knowing how much we were likely to be paying someone of his age.  Surely it’s at least 125k, that’s about 6 players in the championship. 

 

If we go down, he’s not going anywhere because i highly doubt anyone would pay him close to what we are and that likely cripples us. I’m struggling to see why he would have accepted a relegation wage lowering clause.  In his situation he had total control. 

 

 

[LCFCJohn]

1 hour ago, Lambert09 said:

I must admit when vardy signed his latest deal I did wince a bit. It made me a little uneasy knowing how much we were likely to be paying someone of his age.  Surely it’s at least 125k, that’s about 6 players in the championship. 

 

If we go down, he’s not going anywhere because i highly doubt anyone would pay him close to what we are and that likely cripples us. I’m struggling to see why he would have accepted a relegation wage lowering clause.  In his situation he had total control. 

 

 

I’d be very surprised if anyone has relegation clauses in contracts. 
 

The club still seems in denial that it’s a possibility even now so can’t imagine they had it in mind when offering these contracts?

 

Potentially Souttar and Kristiansen actually given the position when they signed but even then, I wouldn’t be surprised….

[Guest Col city fan]

10 hours ago, Mike Oxlong said:

Too much dross on fat contracts 

 

It’s going to take time to rectify the harm already done 

That’s exactly the problem. Didn’t someone state that Amartey is on 60k a week? 
And there are some that would be happy to renew the contract! 🤦‍♀️

Vestie 70 grand, Bertrand 70 grand. The list is endless. What a shit show the club has been the last couple of seasons. 

Edited 8 March 2023 by Col city fan