Foxes Trust Statement on Referral of Leicester City FC for Alleged Breaches of Profitability and Sustainability Rules.

[The Fosse Way]

https://foxestrust.co.uk/membership

[SemperEadem]

1 minute ago, Col city fan said:

Remind me how to again mate. I’ll join 

It’s on their website, tenner to join.

Well timed as it is their AGM tomorrow. In person at Seagrave or online.

[Col city fan]

7 minutes ago, SemperEadem said:

It’s on their website, tenner to join.

Well timed as it is their AGM tomorrow. In person at Seagrave or online.

Just printed off the forms mate, will send in the morning.

👍

[Foxes_Trust]

1 hour ago, Col city fan said:

Just printed off the forms mate, will send in the morning.

👍

As a reminder any new member applications received after 5pm today will not be able to attend tomorrow nights AGM, but we welcome new members at anytime

[JimmyC74]

17 hours ago, Foxes_Trust said:

 

Foxes Trust Statement on Referral of Leicester City FC for Alleged Breaches of Profitability and Sustainability Rules – Foxes Trust

Can the Trust push for the Club to publish its FFP calculations within the annual financial statements moving forwards (obviously too late for this reporting year) like Ipswich?

 

[CosbehFox]

7 minutes ago, JimmyC74 said:

Can the Trust push for the Club to publish its FFP calculations within the annual financial statements moving forwards (obviously too late for this reporting year) like Ipswich?

 

It’s a valid question but ultimately clubs who are close the limit or surpass the limit don’t want this information to be public as it would weaken transfer negotiations for forthcoming season 

[JimmyC74]

Maybe it would focus minds at the leadership level if they did have to report on it and it would force some accountability.

 

If we are ultimately hammered or just get a wee bit of a kicking, it would be nice to think things will change moving forwards.....at the minute there is lots of conjecture about our position and the fans are the last to know.

[Zear0]

Will the Trust kindly ask the club why they stated in their previous Director's report, available for all on Companies House, that they are compliant with FFP and P&S?

[Foxes_Trust]

4 hours ago, Zear0 said:

Will the Trust kindly ask the club why they stated in their previous Director's report, available for all on Companies House, that they are compliant with FFP and P&S?

We don't need to ask. The last set of accounts currently shown at Companies House are for the 21/22 season and they did comply

 

We all await publication of the 22/23 accounts which are due to be made public at the end of March and we will all be able to read them via the Companies House website (the club will issue a statement at that time)

 

[Chrysalis]

On 23/03/2024 at 22:49, Foxes_Trust said:

We have met with the club for several years to discuss the annual accounts and it was confirmed today that a meeting will take place next week.

 

The club will publish their accounts and accompany it with a public statement as usual, however the basis of our annual accounts meeting is confidential, so the likelihood of us being able to say anything beyond what has been made public is minimal, we must tread very carefully given the current legal situation, and while we can question & challenge privately, no fans in their thirst for knowledge should want to adversely affect the clubs legal case

Question.

 

What is the benefit of the FT meeting with the club directors, when you not allowed to say anything? all it does is give a few VIP members of the trust some insider knowledge but doesnt benefit the wider supporters as a whole.

I can understand not being able to talk about specifics but if the extremity of the NDA is you not even allowed to post an opinion, I dont see the point of the meetings.

 

I have read the club statement 3 times now, and it doesnt deny any guilt in regards to the league rules, in fact it actually specifically says the clubs issue is how severe the charges will be and when they applied, its effectively admitting guilt.  If the legal action is merely just to piss of the EPL/EFL and delay punishment, its not something I think the club should be allowed to do without any kickback from the fan base, sadly most of the fan base seems up KP **** and those who are not are heavily split.

I have little doubt now we need new owners and I would like to see the Foxes Trust pushing for this.

[Hilton Fox]

6 hours ago, Chrysalis said:

Question.

 

What is the benefit of the FT meeting with the club directors, when you not allowed to say anything? all it does is give a few VIP members of the trust some insider knowledge but doesnt benefit the wider supporters as a whole.

I can understand not being able to talk about specifics but if the extremity of the NDA is you not even allowed to post an opinion, I dont see the point of the meetings.

 

I have read the club statement 3 times now, and it doesnt deny any guilt in regards to the league rules, in fact it actually specifically says the clubs issue is how severe the charges will be and when they applied, its effectively admitting guilt.  If the legal action is merely just to piss of the EPL/EFL and delay punishment, its not something I think the club should be allowed to do without any kickback from the fan base, sadly most of the fan base seems up KP **** and those who are not are heavily split.

I have little doubt now we need new owners and I would like to see the Foxes Trust pushing for this.

Each year when the budget is laid out, the board would see that they are fooked and would need to do something about it.

 

Is it all a gamble on whether the team plays well and a big £80million sale for one of our assets comes in?

 

The wages are ridiculous and I'm suprised the club haven't had an honest conversation with the squad in the summer (or maybe they did) and challenge the high earners to cut their wages.

 

I feel, They've gambled on promotion to get the income and to see what the penalties will be when we go up.