EFL Statement - Club has no obligation to submit and agree business plan

[kenny]

2 hours ago, st albans fox said:

Ricky, JJ and hamza  would also be pure profit 

 

Still waiting on the Nyoni cash as well.

[splinterdream]

18 minutes ago, Product of 84 said:

I worry for Villa.

 

They are on the same path as us. They will get some form of European Football next season. They'll have to deepen their squad, pay bigger wages. 

 

However, they aren't in the 'big six' and I can see them, like us, having a massive fall from grace in the coming years. 

 

And then FFP will bite. 

Have they got a stadium expansion on the cards, this seems to be where clubs are going, increase your revenue, that’s where we were heading

[Tommy G]

50 minutes ago, Chocolate Teapot said:

So your argument is the Club has no obligation to the city in which it represents?

No my argument is they don’t have to reside there. It’s bonkers to suggest so - as other posters have been pointing out it’s been going on for ages - if you are going to beat the ownership with a stick at least come up with a good argument. 
 

The club does and has done plenty in the city - Vichai donated a million quid to the children’s unit at the LRI for starters. They have LCFC in the community and the women’s side uses belvoir drive and is in the WSL. 

[Foxin_Mad]

7 minutes ago, splinterdream said:

Have they got a stadium expansion on the cards, this seems to be where clubs are going, increase your revenue, that’s where we were heading

That's what they have to do, but it often a lot bigger than increasing the capacity. Gate receipts are really small fry.

 

I do worry about Leicesters ability in commercial areas, some of the operations for a multimillion pound business are shambolic operationally.

[Ric Flair]

Depending on how much we need to raise to comply, here is some rough valuations we'd need to sell our players for just to break even (i.e remain the same under PSR as if we were to keep them).

 

Hermansen - £4.5m

Ward - free

Stolarczyk - free

Justin - £1m

Faes - £9m

Coady - £5m

Ricardo - free

Thomas - free

Kristiansen - £9m

Souttar - £9m

Nelson - free

Winks - £6.5m

Hamza - free

Soumare - £7.5m

KDH - free

Mavididi - £5m

Fatawu - £14m (not sure if his permanent transfer would count in 23/24 on 24/25)

McAteer - free

Daka - £10m

Cannon - £6m

 

It's essentially all on KDH to raise £25-30m. We could possibly flip Hermansen for a £10-15m profit if we are lucky, Faes we might get back what we paid for him and a £5-6m plus on the books. We certainly aren't making money on any of Souttar, Soumare, Daka and co.

 

It's absolutely desperate. Perhaps that's why Ben Nelson is being fast tracked in the hope he impresses teams enough to chance £15m + on.

 

Another sorry day in the history of Leicester City.

 

 

 

[Foxin_Mad]

3 minutes ago, Ric Flair said:

Depending on how much we need to raise to comply, here is some rough valuations we'd need to sell our players for just to break even.

 

Hermansen - £4.5m

Ward - free

Stolarczyk - free

Justin - £1m

Faes - £9m

Coady - £5m

Ricardo - free

Thomas - free

Kristiansen - £9m

Souttar - £9m

Nelson - free

Winks - £6.5m

Hamza - free

Soumare - £7.5m

KDH - free

Mavididi - £5m

Fatawu - £14m (not sure if his permanent transfer would count in 23/24 on 24/25)

McAteer - free

Daka - £10m

Cannon - £6m

 

It's essentially all on KDH to raise £25-30m. We could possibly flip Hermansen for a £10-15m profit if we are lucky, Faes we might get back what we paid for him and a £5-6m plus on the books. We certainly aren't making money on any of Souttar, Soumare, Daka and co.

 

It's absolutely desperate. Perhaps that's why Ben Nelson is being ast tracked in the hope he impresses teams enough to chance £15m + on.

 

Another sorry day in the history of Leicester City.

 

 

 

Probably better to take the points hit and tell the EFL and Premier corruption league to go fook themselves and their wank rules. 

Edited 6 March 2024 by Foxin_Mad

[Voll Blau]

1 hour ago, westernpark said:

Subtle red flags, clap for Thailand monarchy, marching round the pitch after we’d won the league with a portrait of the King of Thailand. Gold being incorporated into the home strip. And weirdly we could have had much worse ownership. - A statement that is indicative of the state of English football. 

I've long thought LCFC is an example of best practice for any sportswashers to follow.

[Ian Nacho]

If we're in as much of a mess as it appears, we'll be doing well to keep KDH in the summer regardless of what division we're in.

 

Top is ultimately accountable for this. 

[lnkstern]

Wow.  Just wow.  I can't believe I just read 17 pages of posts on what are basically rumors (at least when said posts actually stayed on topic).

 

A few articles/tweets were published, effectively saying "There might be some FFP problems/breaches for Leicester City, but we have no facts one way or the other."  Some forum members absolutely go off, trashing one or more of the following: Rudkin, Top, KPI, (and more infrequently) Rodgers.

 

I am content to wait until the actual finances are disclosed, digested, and explained to me.  I love LCFC, but I am not likely to read and properly comprehend a multi, multi-page financial disclosure report.

 

If we are found to have been in violation of FFP rules, we will take the penalty and move on.

 

As long as the club survives, financially, I will have an English football team to support.  I know almost all supporters still supported the Foxes in League One.  I was supporting from a distance, as streaming options for League One football in 2008-09 basically didn't exist (at least I didn't find them).

 

Some people love to overreact.  Others love their hobby horse, and look for any opportunity to hop on it.

[st albans fox]

46 minutes ago, Jordan said:

The allowable loss total is for a running 3-year period so Percy is reporting that we’re going to have to find ways to put some income on this year’s books to try to avoid being in trouble. We’ve already taken a massive loss two seasons ago, and we’re likely going to take another one for last season (which has the Maddison and Barnes deals on it), so it’s going to be tough to make up financial ground in a season in the Championship.

Barnes was 23/24. I think only madders was 22/23 (as was little wes which probably cleared approx £35m profit given he’d only been with us for two seasons ). Those two transfers pushed approx £70m into the income column.  We spent approx 50m which is amortised 10m so likely to have pushed around 60m into the plus column.  But surely we would have pushed Barnes out of the door pre July aswell if we’d needed to ??   We must have known what we needed to get in before the end of June 2023 to stay onside ?? 

 

40 minutes ago, Pliskin said:

No, because the accounts will be for the EFL season, and not the PL season surely?

You wonder if there could be an anomoly at play here. The sanction for breaking the rules is now supposed to be applied in the season following the issue. But we can’t be sanctioned because we aren’t a PL club. Similarly, the efl cannot sanction us until next season when we hopefully won’t be an efl club.   
surely the PL wouldn’t have messed this up ??

[st albans fox]

8 minutes ago, Ric Flair said:

Depending on how much we need to raise to comply, here is some rough valuations we'd need to sell our players for just to break even (i.e remain the same under PSR as if we were to keep them).

 

Hermansen - £4.5m

Ward - free

Stolarczyk - free

Justin - £1m

Faes - £9m

Coady - £5m

Ricardo - free

Thomas - free

Kristiansen - £9m

Souttar - £9m

Nelson - free

Winks - £6.5m

Hamza - free

Soumare - £7.5m

KDH - free

Mavididi - £5m

Fatawu - £14m (not sure if his permanent transfer would count in 23/24 on 24/25)

McAteer - free

Daka - £10m

Cannon - £6m

 

It's essentially all on KDH to raise £25-30m. We could possibly flip Hermansen for a £10-15m profit if we are lucky, Faes we might get back what we paid for him and a £5-6m plus on the books. We certainly aren't making money on any of Souttar, Soumare, Daka and co.

 

It's absolutely desperate. Perhaps that's why Ben Nelson is being fast tracked in the hope he impresses teams enough to chance £15m + on.

 

Another sorry day in the history of Leicester City.

 

 

 

Good spot on nelson

here we all are getting excited that he’s impressing and getting game time to prepare him for the PL  next season and what’s actually happening is he’s being fatted up for Xmas ! 

[ClaphamFox]

12 minutes ago, Ian Nacho said:

If we're in as much of a mess as it appears, we'll be doing well to keep KDH in the summer regardless of what division we're in.

 

Top is ultimately accountable for this. 

To be fair there have been rumours to this effect for a while. It’s probably best to just accept KDH will be leaving for less than he’s worth before June 30 and we’ll be left scrabbling around to find a replacement - unless of course we decide to just take the points hit. 

Edited 6 March 2024 by ClaphamFox

[Free Falling Foxes]

3 hours ago, Lambert09 said:

 

4 hours ago, Nalis said:

Does the second last paragraph not contradict the CFRP decision?

 

4 hours ago, FrankieADZ said:

someone gives us what it means in laymens terms

 

4 hours ago, GLC said:

 

 

4 hours ago, TheLittleBigMan said:

the EFL’s independent Club Financial Reporting Unit asked us for information on our business plan moving forward, as it looked like we were in breach of FFP and we told them to get fu*cked.

 

4 hours ago, Stinkenzo said:

Somebody explain this to me in Ice Hockey terms 

 

4 hours ago, Ricey said:

EFL think we are going to break P&S. They think that they can demand a business plan from us to show how we plan on solve it. Turns out they can’t do that.

Good job really, I doubt there is a plan.

 

4 hours ago, AKCJ said:

If we do get promoted the Premier League is going to eat us up.

 

Fun this modern football lark.

 

4 hours ago, pkonline said:

We have money and FFP doesn't include capital investment like ground expansion, training  and academy spending.

It's pretty much all about the player spend.

 

3 hours ago, Mr Weller 2 said:

We’re not in financial trouble. King Power can afford this. The problem are the EFL rules.

 

3 hours ago, Bert said:

But within the rules, we look like we could be in trouble. 

 

3 hours ago, Mr Weller 2 said:

Possibly but not financially.

 

3 hours ago, Bert said:

Because we don’t need to, as we are not in breach of any of their rules. (Yet)

 

3 hours ago, Nolucklcfc said:

That or we aren’t doing so because we know we will be in breach. 

 

[coolhandfox]

So many people going for 0-100 mph on this.

[Nolucklcfc]

6 minutes ago, ClaphamFox said:

To be fair there have been rumours to this effect for a while. It’s probably best to just accept KDH will be leaving for less than he’s worth before June 30 and we’ll be left scrabbling around to find a replacement - unless of course we decide to just take the points hit. 

To be honest, after the Brighton rumours broke we were always going to lose him this summer. 

[Jordan]

1 hour ago, Benji said:

 

Right - so there's no evidence we're in breach as of March, for the three years ending 22/23, but we'd likely need to sell to avoid an issue this time next year for the three years ending 23/24?

1) the club’s 22/23 financial report isn’t out yet but from whatever the EFL saw earlier this season, there’s cause for concern

 

2) I’m no Kieran Maguire or Swiss Ramble so I have to hold my hands up and say I’m not really sure. But if the P&S rules stay the same, I’d have to think so because 21/22 was an awful financial year and 22/23 probablt isn’t going to balance this out.

[kingfox]

This is what happens when you fail to stay consistent in terms of Premier League position and successful transfer windows.

 

We fvcked up on both those parts and now we’re seeing the consequence. 
 

Trying to compete with the “Big Six” is virtually impossible, we did it for a couple of seasons, then fvcked it. Aston Villa & Brighton could easily go the same way as us, if they fail to stay consistent. 

 

Faults galore from top to bottom has left us in this mess. Looking back at the 21/22 season, even though we finished 8th, that season should now be deemed a failure. Not getting into Europe and having one of the worst transfer windows in recent memory, was the catalyst of our downfall. Nothing needs to be said about the 22/23 season. 
 

Players on ridiculous undeserved contracts

The inability to shift players because they are on ridiculous undeserved contracts

Failing to make Europe, then a season later we get relegated 

Shit transfer windows 

The lack of ruthlessness when it came to sacking Rodgers 

 

All those things have constituted to our current state, to the point where if we’re promoted, we could be forced into selling our best players. 
 

We’ll just have to sit and pray that we don’t end up being another Sheffield United.

[Free Falling Foxes]

I fvcked you good and proper.

[bart]

It seems on the face of it rather unfair that we get relegated at least in part due to another club breaking the financial rules - which leads to us breaking the financial rules - and now we may get punished for it.

[Jon the Hat]

4 hours ago, Stinkenzo said:

Somebody explain this to me in Ice Hockey terms 

We told the EFL to Puck off!

[Brainy]

1 minute ago, bart said:

It seems on the face of it rather unfair that we get relegated at least in part due to another club breaking the financial rules - which leads to us breaking the financial rules - and now we may get punished for it.

Whatever we get I'm sure we could just complain it's not fair and get 40% wiped off it 

[TeamRocket]

What's the point of football, honestly  should have let top 6 clubs just there dumb saudi league n all other team should just start a new football league 

[CheeseHead]

1 hour ago, Trav Le Bleu said:

La la la la la la la la la la la la la la....

Brilliant that you were able to type this with your fingers in your ears!

[dylanlegend]

What about all the other clubs on this list?  our net spend is about -100million on transfer fees which would be the 15th lowest in the PL. We’ve sold well more than most in the PL I would say, which means the other clubs must really be struggling- does this mean all the other 14 clubs above are to be sanctioned also?
 

https://www.football365.com/news/transfers-premier-league-five-year-net-spend-man-utd-man-city

 

The current FFP are clearly not fit for purpose 

[filbertway]

3 hours ago, Nolucklcfc said:

Imagine trying to explain to someone who has never followed Leicester how badly everything has been run in the past 3/4 years 🤣

Its hard enough for the majority of people that follow the club, never mind outsiders