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Qwerty

Does anyone actually know anything about the finances?

By Qwerty, in Leicester City Forum

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Wortho

Wortho

Posted
Posted
2 hours ago, Paninistickers said:

We've already spent them. It was reckless. Some of us pointed it out at the time but were shouted down about it being 'cheaper to borrow' than use KPs own cash. 

 

It's gonna cost top 180m in readies to pay the parachute out his own pocket,.or cost him the club itself. It's devil.or deep blue sea for Top

 

 

Which makes even more scandalous that Top and the board left it till 8 games to go before sacking Rodgers. The club is worth f**k all now, and it’s the fans who suffer. The board aren’t effected or the players. Absolutely tragic how the club has been mismanaged.

In a way today I wasn’t all that upset, which I should be.

HankMarvin

HankMarvin

Posted
Posted
Just now, Wortho said:

Which makes even more scandalous that Top and the board left it till 8 games to go before sacking Rodgers. The club is worth f**k all now, and it’s the fans who suffer. The board aren’t effected or the players. Absolutely tragic how the club has been mismanaged.

In a way today I wasn’t all that upset, which I should be.

10 highlighting their incompetence by not having a ready replacement at hand 

urban.spaceman

urban.spaceman

Posted
Posted
12 minutes ago, st albans fox said:

Yes I know we settled but you’re not getting much rope when you’ve got a record …

We haven't got a record. We're explicitly clear of all wrongdoing.

splinterdream

splinterdream

Posted
Posted

So as I read it, championship ffp allows no more than £39m losses over 3 seasons, that's £13m a season, am I right in thinking our current losses are around £90m in a single season? 

The Doctor

The Doctor

Posted
Posted
6 minutes ago, Bluearmyfox28 said:

The owners we’re given they’re surname by the king of Thailand. They will be taken care of.

Move Forward are advocates for monarchy reform. it's not a pretty situation for King Power

foxinsocks

foxinsocks

Posted
Posted (edited)
10 minutes ago, Bluearmyfox28 said:

Please explain this to me like I am 10 years old lol 

If you owe a bank millions and can't repay then that is a problem for the bank.   

Second:  is that the bank were happy to lend the money to us to be paid back in the future provided we pay them interest  in the meantime (ie "service" the debt).  

Let's suppose we were going to repay it next year... but now we will need a few years more... so, in that extra  period, as long as we service the debt then that's good business for the bank... eg they lend us money for 3 years instead of 2.  

It would be madness for the bank to push us into admin as they could end up with nowt.

So, right now we have a loan and are servicing it.  We can't repay it as intended ...so we agree a "stand still"... ie we will continue with the loan ourstanding yet pay interest on it.

I bit like just paying the interest on your mortgage and thus extending the term if you lost your job and are unemployed for a while.

Edited by foxinsocks
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coolhandfox

coolhandfox

Posted
  • Popular Post
Posted

People get a in a twist over loans, you can alway re-finance as long as you get make the repayments.

 

There will be a massive amount of out goings on both the playing staff and off field.

 

Just the players out of contract will be a massive saving on wages. Depending on source you use.

 

Evans 100k

Perez 80k

Bertrand 70k

Tielemans 100k 

Mendy 50k

Amartey 50k 

Soyuncu 45k

 

Around 26m a season gone straight away.

 

Chance are we sell at minimum being in around 80-100m.

 

Maddison

Barnes 

Soumare 

Praet

Vestergaard 

 

Around probably another 20m of the wage bill.

 

It's not going to be pretty, but we will be fine next season.

 

It's when you are down there for 2 to 3 years.

 

 

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CosbehFox

CosbehFox

Posted
Posted (edited)
21 minutes ago, Bluearmyfox28 said:

The owners we’re given they’re surname by the king of Thailand. They will be taken care of.

Ahh you see that’s the problem. The opposition party has gained traction and the people of Thailand are quite upset at a king who spends 90% of his time in Germany partying. The opposition want reform. 
 

King Power’s social media consistently gets tweets of opposition sent too it and their headquarters keep getting the red paint thrown at it.


There’s a Man City moment on the horizon. Thailand has been a Democratic time bomb since the death of the king and his successor took over 

Edited by CosbehFox
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Finnegan

Finnegan

Posted
Posted
On 28/05/2023 at 20:41, Qwerty said:

Yes but some people say they won’t need to be paid back yet.  Apparently they didn’t recall Burnley’s debt when they were relegated.  That’s why I’m wondering if there is anyone on here with inside information.

 

It doesn't make a lot of sense for Macquire to come and collect all in one go. They want companies they work with to continue to be moderately successful so that they can get repeat business and keep selling us loans. 

 

You'd imagine there's got to be considerable contingency in the terms of our agreement with them to cover this eventuality. 

 

They're not going to take everything we have and leave us penniless plummeting down the leagues to oblivion. 

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Paninistickers

Paninistickers

Posted
Posted
15 minutes ago, Finnegan said:

 

It doesn't make a lot of sense for Macquire to come and collect all in one go. They want companies they work with to continue to be moderately successful so that they can get repeat business and keep selling us loans. 

 

You'd imagine there's got to be considerable contingency in the terms of our agreement with them to cover this eventuality. 

 

They're not going to take everything we have and leave us penniless plummeting down the leagues to oblivion. 

We have to be clear here. The Macquarie monies aren't loans. They are factoring (invoice finance). Basically advancing you money that you are GUARANTEED to get anyway. 

 

 

 

Finnegan

Finnegan

Posted
Posted
21 minutes ago, Wasyls Pec Deck said:

Marshy may have connections given he was employed by the club not so long ago, although the conflicts with what credible journalists are saying. If true though surely we are up the creek without a paddle.

9a8875cd-6790-47da-8a0c-77fc9bc5c082.jpeg

 

He's as ITK as I am and thick as pigshit. 

 

Why would anyone follow anyone that actually refers to themselves as Big Marshy? What a muppet. 

 

Thanks for the goals, Ian. Now roll your socks up and wind your neck in. 

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Tommy G

Tommy G

Posted
Posted
24 minutes ago, Finnegan said:

 

It doesn't make a lot of sense for Macquire to come and collect all in one go. They want companies they work with to continue to be moderately successful so that they can get repeat business and keep selling us loans. 

 

You'd imagine there's got to be considerable contingency in the terms of our agreement with them to cover this eventuality. 

 

They're not going to take everything we have and leave us penniless plummeting down the leagues to oblivion. 

It will be in any lending agreement whereby you have capital and interest waivers. We could also renegotiate our covenant profile to suit our new cashflow position. You tend to work in conjunction with the lender when sh*t hits the fan - I did the same during the pandemic with two high street banks, we renegotiated the covenants, payment profile and margin on the debt out to a longer term, paid a hefty fee and off we wen't.

 

Our recovery has luckily been above the market and lenders expectaions, if this is the case they leave you alone as you are servicing the debt alongside their expectations and in most cases they are making a pretty penny too. 

 

I don't know how close the LCFC FD is to our lenders, or the sort of the relationship he has - presumably its quite functional given they are AUS based.

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Bats8711

Bats8711

Posted
Posted

Not sure why anybody would be giving the club the benefit of the doubt when it comes to having relegation wage clauses in effect (or anything). Maybe for some of the newer signings - but unless there’s some kind of official source I haven’t seen, there’s no way you’ll convince me players like Vardy, Maddison, Barnes, even Ricardo had clauses. 

Winchesterfox

Winchesterfox

Posted
Posted
On 28/05/2023 at 20:32, Paninistickers said:

We've already spent them. It was reckless. Some of us pointed it out at the time but were shouted down about it being 'cheaper to borrow' than use KPs own cash. 

 

It's gonna cost top 180m in readies to pay the parachute out his own pocket,.or cost him the club itself. It's devil.or deep blue sea for Top

 

 

The point of parachute payments is to reduce the risk of clubs going bust when they get relegated.   If clubs can borrow against the payments it defeats their purpose.  It shouldn't be allowed. 

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Guest foxestalkisfullofidiots

Guest foxestalkisfullofidiots

Posted
Posted

When you see some very average players at the club earning way more than the average Premier league wage and handing out 5 year deals to managers because they were linked with other jobs it doesn't give you any confidence that they put contingency plans in place.....the whole last couple of years just stinks of desperation 

cityfanlee23

cityfanlee23

Posted
Posted

From listening to people like Kevin Maguire and some of the more finance-savvy members on here, I think we are in a financial mess, but not so much of a mess that it cannot be fixed, and I don't expect we will be scratching around in the dirt for free transfers, but this very much relies on a few things, 1) We sell our big players quickly, 2) We get a fee for them that would align with market value, 3) we get promoted within a couple of seasons. 

In my opinion, shedding 40-50m from the wage budget from our out-of-contract players leaving, selling some key assets like Madders, Barnes and probably players like Soumare, Praet and Nacho, alongside parachute payments and we will be in a position to buy some young hungry players with a point to prove like Elanga. I would expect us to maybe spend £20-30m on key signings, we already have a core squad good enough to fight for promotion.

But this is speculation from my side. 

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