Leicester 'could face points deduction next season'

[JimmyC74]

16 minutes ago, Pliskin said:

The legal process is likely to just be a shot in the dark to try and gain some leverage I imagine. 
 

It will likely be more money wasted I mean it looks like we’re experts in flushing money down the drain. 

But any concession gained will probably only offset the charge of us being beligerant in our public announcements 

[Number 6]

8 minutes ago, Lionator said:

Yes because European money. We basically set ourselves up as a champions league club with nowhere near enough income to fund it. 

That would have been in the next period though right?

[HankMarvin]

1 minute ago, Foxes1884 said:

“Wages up which suggests few relegation avoidance clauses in contracts.” 
 

Is this bit for real?!!? We had no clauses in massive contracts to reduce wages if relegated? That’s incompetent in the extreme. Absolute basics. Hope I’m reading that wrong else this year is going to be even worse.

It’s not this season 

[gazzaa2]

1 minute ago, HankMarvin said:

89m losses for the season but based over 13months 

To massage the losses.

[Sly]

45 minutes ago, Stinkenzo said:

Somebody explain this like I'm running a farm

You inherit a successful farm. 

You want to win farm do the year, however in order to be in the running, you can only lose £105m over a three year period. So £35m-ish a year. 

As you know nothing about running a farm, you employ a load of brick layers to look after your cows, sheep and corn. It doesn’t go well as you’d expect. 
 

You then reveal you’ve lost £295m over three years, however you still believe you should be in the running for farm of the year. You challenge the competition  runners with legal battles.

 

Everyone else thinks you are a disgusting mess and laughs at you and you are now know as FarmyMcFarmFace. 
 

You shut the farm, go into liquidation and try and salvage some self respect by moving to the Outer Mongolia and hopefully never see anyone from the Farm Competition ever again. 
 

You preferred racing horses and playing polo anyway. 

Edited 2 April 2024 by Sly

[Levi Port]

1 minute ago, Foxes1884 said:

“Wages up which suggests few relegation avoidance clauses in contracts.” 
 

Is this bit for real?!!? We had no clauses in massive contracts to reduce wages if relegated? That’s incompetent in the extreme. Absolute basics. Hope I’m reading that wrong else this year is going to be even worse.

I remember Percy said he didn’t think many of the players had the clauses at the beginning of this season, so maybe he was bang on 

[StonyFox]

1 minute ago, Foxes1884 said:

“Wages up which suggests few relegation avoidance clauses in contracts.” 
 

Is this bit for real?!!? We had no clauses in massive contracts to reduce wages if relegated? That’s incompetent in the extreme. Absolute basics. Hope I’m reading that wrong else this year is going to be even worse.

I thought the same, but the accounts cover the last season in the prem, so surely any wage reductions would be in the next set of accounts!? I'm basing this on zero accounting knowledge 

[Product of 84]

Just a thought. 

 

Without FFP would we the fans be loving our owners for ploughing so much money into the club?

 

Does our situation kill FFP as it highlights how you're shafted twice by failing to reach your targets? 

 

I think that's our argument. We budgeted for success and instead had to pay off a manager, got relegated and lost a load of players on free transfers. 

 

Imagine Everton, Villa, West Ham etc going down. They'd be in the same financial dire straits as us. 

 

I hope we can keep kicking whatever penalties come our way further down the road as I think FFP as a concept is dead.

 

Also as grim as the last season was with Rodgers, the players who wound down their contracts have a lot to answer for. I'm also angry that we continued to play some of those players but not others. I'd have played hard ball with them. Especially, with the World Cup coming up. You sign or you don't play. 

[Lad1966]

2 minutes ago, Foxes1884 said:

“Wages up which suggests few relegation avoidance clauses in contracts.” 
 

Is this bit for real?!!? We had no clauses in massive contracts to reduce wages if relegated? That’s incompetent in the extreme. Absolute basics. Hope I’m reading that wrong else this year is going to be even worse.

These accounts are for 22/23, surely the relegation clause will show in the 23/24 season?

[Pliskin]

We’re kind of stuck as a fan base now…. Given our fragile position and necessity to go up, turning on the clubs owners could look like we’re turning on the players, and could have a detrimental impact on the lads…… We have to support the team, but can’t sit back and let the board think that this is remotely acceptable……

 

 

[jmono84]

If we hadn’t of been relegated and got the EPL broadcast money we would have had £100m and been ok??

[HankMarvin]

2 minutes ago, Sly said:

You inherit a successful farm. 

You want to win farm do the year, however in order to be in the running, you can only lose £95m over a three year period. So £30m-ish a year. 

As you know nothing about running a farm, you enploy a load of brick layers to look after your cows, sheep and corn. It doesn’t go well as you’d expect. 
 

You then reveal you’ve lost £295m over three years, however you still believe you should be in the running for farm of the year. You challenge the competition  runners with legal battles.

 

Everyone else thinks you are a disgusting mess and laughs at you and you are now know as FarmyMcFarmFace. 
 

You shut the farm, go into liquidation and try and salvage some self respect by moving to the Outer Mongolia and hopefully never see anyone from the Farm Competition ever again. 
 

You preferred racing horses and playing polo anyway. 

215m over 3 seasons 

[Vestan Pance]

2 minutes ago, North Leeds Fox said:

These figures are horrific! Heads must roll for this. How on earth have we then decided to buy Coady and cannon who we have barely used this season after posting such horrendous losses?

The same people and the same process for the past 5-4 years, why would they change anything if there is no accountability. Just crazy.

[Sambiasso]

15 minutes ago, Raj said:

I'll be thick here.

SURELY people running the club, I.e CFO and his team would KNOW the rules to all this?

CFO can advise all he wants but if he's not listened to then all he can do is leave his position. 

 

Again this is the club offering Dan James 100k a week against all advise.

[Foxontherocks]

6 minutes ago, StonyFox said:

Fingers crossed! I remember Kieran Maguire talking about Everton on his podcast last week and it sounded like they had 3 points for breaching and then 2 points for every 5m over (or something like that). If it's a maximum of 10 points that would be much better than what I was fearing. 

They were the suggested guidelines (6pts +1pt per every £5m over) but the commission didn't approve them. It's a bit open ended really, with severe deductions like Everton's then going to appeal etc.

 

I guess the bad news is everton breached by about £20m(?) and have ended up with 6pts. Will be interesting to see any other decisions before we're in the dock to see if they have some sort of trendline/calculation.

 

EFL is much more straightforward, 3pts + 1pt per £2.5m up to a maximum of 12pts docked.

[Lionator]

2 minutes ago, Sambiasso said:

CFO can advise all he wants but if he's not listened to then all he can do is leave his position. 

 

Again this is the club offering Dan James 100k a week against all advise.

He did leave didn’t he? To Newcastle 

[st albans fox]

27 minutes ago, LVFox said:

Why the **** have we rushed to put Madders sale into this year when they were already abysmal. Put every cost possible into 22/23 so 23/24 is better.

 

Do we have any ****ing accountants at the club? It's so ****ing amateur it's unreal!

 

Raging, as you can probably tell

 

26 minutes ago, Mickyblueeyes said:

Anyone got the going concern report - that is going to be interesting.

our actual nett asset value has gone from negative 40 mill to positve 60m cos KP converted £200m into share value 

 

22 minutes ago, Harpenden Fox said:

So only the sales of Harvey and Chestnuts in the current accounting period. Say we got £45 million for the pair. We spent about £30 million last summer. Including £8 million on a fourth choice striker.

 

Bonkers. 

The spend of 30m is 6m per season on the accounts.  The income (after costs ) will all be in the 23/24 accounts 

 

6 minutes ago, Foxes1884 said:

“Wages up which suggests few relegation avoidance clauses in contracts.” 
 

Is this bit for real?!!? We had no clauses in massive contracts to reduce wages if relegated? That’s incompetent in the extreme. Absolute basics. Hope I’m reading that wrong else this year is going to be even worse.

As others have posted, I don’t understand maguire’s comment on that 

[HankMarvin]

5 minutes ago, Vestan Pance said:

The same people and the same process for the past 5-4 years, why would they change anything if there is no accountability. Just crazy.

Probably because those fees didn’t make a significant difference, in next years accounts you are only allowed to make 87m losses over the 3 seasons and  knew we would fall foul over PSR it’s but they want to have the best chance of returning to the PL

 

in response to your North Leeds fox in your post 

Edited 2 April 2024 by HankMarvin

[Levi Port]

What the **** is Danny Ward on 

Edited 2 April 2024 by Levi Port

[Foxes1884]

3 minutes ago, Lad1966 said:

These accounts are for 22/23, surely the relegation clause will show in the 23/24 season?

Yes, I get that it’s not for this year so would not show in the figures but it is an interesting statement. Only other thing I can think of is that some contracts have clauses that fine players for relegation I.e opposite of bonuses if Europe is gained. Have just never heard of this kind of thing before.

[SecretPro]

1 minute ago, Levi Port said:

What the **** is Danny Ward on 

£200k per week.

[CrispinLA in Texas]

3 minutes ago, Levi Port said:

What the **** is Danny Ward on 

Bleeding the club whilst enjoying being benched

[Buzzell]

1 minute ago, CrispinLA in Texas said:

Bleeding the club whilst enjoying being benched

And fair play to him. Not his fault, blame the club.

[Guest TamworthFoxes]

3 minutes ago, Levi Port said:

What the **** is Danny Ward on 

Not just Danny Ward. I imagine if we ever truly found out how much money absolute dross has had out of our club in wages then even our happy clapping  fanbase would be kicking off. 
I read on another teams fans board earlier in the season that Smithies was here on 60k a week. Never believed it at the time but seeing todays results it wouldn’t surprise me if that was true. He was another baffling signing.

[Guest WarehamFox]

53 minutes ago, benpicko said:

Crikey what were we doing to have £300 in losses over 3 years

I Wish that was true.