Leicester City Post Record Losses of £92.5m

[Ric Flair]

2 minutes ago, Dames said:

Does that not kick in until the extension does though meaning his wages won't be reduced until this summer? 

I was told he agreed a new 2 year deal (essentially an additional year from his existing deal) but because of the extension the overall wages across the two years was less per week. He'll still be on big money anyway, probably pur highest earner.

[Dames]

2 minutes ago, Ric Flair said:

I was told he agreed a new 2 year deal (essentially an additional year from his existing deal) but because of the extension the overall wages across the two years was less per week. He'll still be on big money anyway, probably pur highest earner.

Hopefully they tied a bit more of the money up in performance related clauses too. 

[99 Problems]

https://www.spotrac.com/epl/leicester-city/jamie-vardy-22799/
 

various sources quote between £140k to £160 a week for Vardys contract. He’s likely on more than £100k and even that is going to look eye watering in the championship next season. What on earth was the point of giving a 35 year old a 2 year contract on those kind of wages? Did we seriously expect him to be scoring 20 goals a season in the PL as he approaches 40??

[Stadt]

It's absolutely insane we had our highest net spend ever and didn't actually sign a player to go into the first XI.

 

Rodgers' "not been backed" mantra took root in the football media but it's because he was backed we're in this mess. There's hordes of unforced errors, Rudkin should have laughed off the Congerton suggestion. On here, by virtue of having an interest in our own club; a bit of basic research dredged up Congerton should have been avoided. Rudkin should have been sacked for that alone.

[David Hankey]

Many Clubs would give their right arm for our level of losses.

[Yes N'Didi]

12 hours ago, Mickyblueeyes said:

I know what it stands for - was interested in what the investigation was - someone else has posted the JD Sport enquiring.

Effectively reasonable grounds to suspect that LCFC was instructing JD Sports to not put their product into markdown and keep it at full price and JD sports agreeing therefore in the eyes of the CMA forming a price fixing cartel.

[21st Century Fox]

16 minutes ago, David Hankey said:

Many Clubs would give their right arm for our level of losses.

You'd usually get about £135,000 for the loss of an arm. So if about 685 of us give up our right arms we should be able to wipe out these losses.

 

Anyone?

[Lcfcwigstonblue]

Villa have a lower turnover than us.

similar wages.

spent £100m yet still made a profit.

think we need their accountants

[coolhandfox]

55 minutes ago, Stadt said:

It's absolutely insane we had our highest net spend ever and didn't actually sign a player to go into the first XI.

 

Rodgers' "not been backed" mantra took root in the football media but it's because he was backed we're in this mess. There's hordes of unforced errors, Rudkin should have laughed off the Congerton suggestion. On here, by virtue of having an interest in our own club; a bit of basic research dredged up Congerton should have been avoided. Rudkin should have been sacked for that alone.

I am a firm believer that the summer window of 21/22 is a major cause of our current issues, spending 67m on 4 players and not one becoming a regular or having an impact. 

 

 

 

 

 

[moore_94]

21 minutes ago, Lcfcwigstonblue said:

Villa have a lower turnover than us.

similar wages.

spent £100m yet still made a profit.

think we need their accountants

The Grealish sale massively improved their accounts, without it they had bigger losses than us

 

A big contributor to our loses being so big is because we had the summer where we didn’t sell anyone for big money

 

Last summer (Fofana) and the upcoming summer (probably Maddison) it looks to be something we are going back to

[StanSP]

25 minutes ago, Lcfcwigstonblue said:

Villa have a lower turnover than us.

similar wages.

spent £100m yet still made a profit.

think we need their accountants

They've made a £584m loss since 2017/18.

 

(if I remember a tweet i saw the other day). 

[StanSP]

Got the dates wrong for that above - it's £584m accumulated loss over the last decade. And that takes into account the Grealish sale. 

 

 

 

[Stadt]

6 minutes ago, coolhandfox said:

I am a firm believer that the summer window of 21/22 is a major cause of our current issues, spending 67m on 4 players and not one becoming a regular or having an impact. 

 

 

 

 

 

What will we recoup compared to their fees and wages?

 

Bertrand £0 fee, c. £10m in wages

Vestergaard < £3m fee, c£10m in wages

Daka £10m? £12m in wages?

Soumare £10m? £15m in wages?

 

We needed a winger but seeing as we'd spent £30m on Perez, we saw that as a sunk cost.

 

Rudkin presides over failure after failure.

[StanSP]

3 minutes ago, Stadt said:

What will we recoup compared to their fees and wages?

 

Bertrand £0 fee, c. £10m in wages

Vestergaard < £3m fee, c£10m in wages

Daka £10m? £12m in wages?

Soumare £10m? £15m in wages?

 

We needed a winger but seeing as we'd spent £30m on Perez, we saw that as a sunk cost.

 

Rudkin presides over failure after failure.

With Vardy's sharp decline and significant drop in ability to score, I can't see us selling Daka. 

 

The other 3 just simply have to be sold. Cut the loss, get the wage money back and hopefully use that wisely. 

 

There'll be Soyuncu leaving as well, no idea what his wages are but that's another chunk off. 

 

There's also Schmeichel's wages which wouldn't be shown in this set of accounts as he didn't leave until summer. 

[Stadt]

1 minute ago, StanSP said:

With Vardy's sharp decline and significant drop in ability to score, I can't see us selling Daka. 

 

The other 3 just simply have to be sold. Cut the loss, get the wage money back and hopefully use that wisely. 

 

There'll be Soyuncu leaving as well, no idea what his wages are but that's another chunk off. 

 

There's also Schmeichel's wages which wouldn't be shown in this set of accounts as he didn't leave until summer. 

Sorry I didn't phrase it well, I meant more what could we recoup from our total £100m+ investment in them?  

 

There seems to be zero inclination to look into our failures and learn from it. Rudkin marks his own homework.

[Tommy G]

2 minutes ago, Stadt said:

Sorry I didn't phrase it well, I meant more what could we recoup from our total £100m+ investment in them?  

 

There seems to be zero inclination to look into our failures and learn from it. Rudkin marks his own homework.

He's probably getting his a$$ tanned in board meetings, but he still has a job so he can't be getting too much heat. Presume there are some structured KPIs around his dealings, and they will make some sorry reading

[st albans fox]

13 minutes ago, StanSP said:

With Vardy's sharp decline and significant drop in ability to score, I can't see us selling Daka. 

 

The other 3 just simply have to be sold. Cut the loss, get the wage money back and hopefully use that wisely. 

 

There'll be Soyuncu leaving as well, no idea what his wages are but that's another chunk off. 

 

There's also Schmeichel's wages which wouldn't be shown in this set of accounts as he didn't leave until summer. 

Just cos you sell a player, doesn’t mean you lose the wages ……..

no one is going to leave and lose out on guaranteed contractual payments 

 

we will save something but it won’t be what we are paying them unless their contract is up 

 

sadly cags is probably one of our lowest earners around 30k 

[David Hankey]

1 hour ago, 21st Century Fox said:

You'd usually get about £135,000 for the loss of an arm. So if about 685 of us give up our right arms we should be able to wipe out these losses.

 

Anyone?

You realise, of course, it was just a figure of speech.

[Chrysalis]

Whats interesting is when it suited the club, the press were been told last summer we didnt spend because of FFP, now it suits the club the press are now been told we not close to FFP been an issue.

[Tommy G]

1 minute ago, Chrysalis said:

Whats interesting is when it suited the club, the press were been told last summer we didnt spend because of FFP, now it suits the club the press are now been told we not close to FFP been an issue.

They may be looking at spending beyond the year end which is after May 23, it may of been tight up until that point in relation to FFP where summer 22 falls into that time period. 

[21st Century Fox]

15 minutes ago, David Hankey said:

You realise, of course, it was just a figure of speech.

Anyone not willing to give their right arm will be deemed a plastic. Those willing to give up their right arm will be given an 'honesty arm' which has to left on your seat after the match.

[Chrysalis]

14 hours ago, moore_94 said:

Kieran Maguire on Twitter going through it

 

• Revenue down but partly due to technical reasons with extra PL matches being played in year 1 June 2020 to 31 May 2021 due to lockdown

• Matchday income at a record £21m, previous season was in front of empty stadiums

• Broadcast income down £33m due to fewer matches played. UEFA prize/tv money exceeded matchday

• Commercial income at record level, includes merch sales, hospitality etc.

• Biggest cost for club is wages, Leicester paying £85 for every £100 of income. Down on previous season but still £100m more than when won Premier League. Ave wage £84k a week

• Amortisation (transfer fees spread over contract length) still high by club standards at £72m

• As a result of fall in income and overheads not falling as fast day to day operating losses increased from £66m to £79m. Total losses in last five seasons £368m

• One way to reduce losses it to sell players, Leicester made a profit of £9m in 21/22, lowest since 2015

• Leicester have borrowed money from banks and so interest cost up sharply to £363k a week, taking overall pre tax losses to £92m

• Player purchases modest by recent year standards, player sales low

• Leicester borrowed £115m in the year and made repayments of £68m. Since the year end owners have written off £194m of loans into shares but still has £80m of bank debt

A club our size cant afford nearly 20m a year in interest payments, Top needs to sort that out.

[davieG]

5 minutes ago, 21st Century Fox said:

Anyone not willing to give their right arm will be deemed a plastic. Those willing to give up their right arm will be given an 'honesty arm' which has to left on your seat after the match.

A recent Match poll asking fans to raise their arms if they're willing to give up their right arm got a massive positive response.

 

 

 

[Gamble92]

53 minutes ago, Stadt said:

What will we recoup compared to their fees and wages?

 

Bertrand £0 fee, c. £10m in wages

Vestergaard < £3m fee, c£10m in wages

Daka £10m? £12m in wages?

Soumare £10m? £15m in wages?

 

We needed a winger but seeing as we'd spent £30m on Perez, we saw that as a sunk cost.

 

Rudkin presides over failure after failure.

Whoever sanctioned that Bertrand deal needs to be brought on at half time to have excrement thrown at them.

 

Sorry I'm sounding a bit Clarkson now.

[Lcfcwigstonblue]

1 hour ago, moore_94 said:

The Grealish sale massively improved their accounts, without it they had bigger losses than us

 

A big contributor to our loses being so big is because we had the summer where we didn’t sell anyone for big money

 

Last summer (Fofana) and the upcoming summer (probably Maddison) it looks to be something we are going back to

They still had a net spend of £100m after the Grealish sale.