Accounts 22/23

[STUHILL]

7 minutes ago, Benji said:

Us, Leeds, Southampton and I think Burnley all said the same about Everton last year.  The claim appears to have gone nowhere.

Think that was more media driven to be honest. Who got relegated and who would be most pissed off kinda lazy journalism.

No way did our board have the audacity to officially be considering legal action against another club, knowing what we have been up to! 

[Dan]

7 hours ago, Chelmofox said:

 

You know what, if i was in the youth team (or I was a guardian of someone in that youth team) I would be saying 'f4ck that', im going somewhere i can actually succeed. Alves, Braybrooke and Nelson (and others teetering on the edge of the first team) have 1 shot at their careers, and ruining it, playing for a club who can't get basic financial management right so they have to play with points deductions and a club that can't even recruit reinforcements. Why would you do it to yourself? You would be chomping at the bit to get out somehow rather than have to deal with that crap next year.

 

 

 

It's not a concern - it's the stark reality.

 

 

 

McKenna could actually recruit players that fit their objectives, so its not actually a great comparison. Now this is out there, are you going to be able to get another up and coming manager? Enzo (or whoever we end up with) is going to have to navigate the sinking ship with players scrabbling to get out, and a squad they can't recruit for. No style or philosophy (Enzo's or a Dyche/Warnock style nutter) is going to suceed with that. Enzo could probably be the only employee of the club who could come out of next season with some credit.

I'm wondering if it's someone like Danny Rohl. Working under pretty much the equivalent inept ownership but would at least be a league above where he currently is. Will get relegated this season but gave them a fighting chance when they in theory had absolutely none. A bit like Marco Silva at Hull.

 

It needs to be somebody pragmatic.

[The Horse's Mouth]

 

[Aus Fox]

Is there any breakdown of the wages? Obviously there isn’t a break down individually, but playing staff, non playing staff, women, academy, directors etc.

 

£200m is ridiculous 

[Dan]

8 hours ago, TheUltimateWinner said:

Just remember after an internal review they sacked the goalkeeper coach and none of the clowns responsible for this mess.

They never had a review. It was lip service.

[foxinsocks]

7 hours ago, fazzyfox said:

Whilst giving out bonkers wages is the unforgivable cause we have to realise that on the player trading side of things this is real life not a PC / Console game.

 

We turned down a derisory bid from Newcastle for Madison and Vestergaard rejected a move to Fulham, an Italian club kept trying to move the goalposts to sign Praet, maybe a bid for Iverson who was still developing, other than that we would have been happy to move on fringe players and failures but bids for Perez, Amartey, Mendy, Choudhury, Soumare, Praet (low bid from Atalanta?), Ward last Summer / this winter etc (and the time it took to shift Slimani), were not forthcoming, not surprisingly when you look at the players potential wage demands to match what we pay and the fees wanted / needed in relation to the bidding clubs size / budget. Teams above us didn’t need them, teams beneath us couldn’t afford them, the teams we were competing with around 7th or 8th such as the likes of West Ham, maybe Everton a couple of years back, Villa and more recently Brighton had their own investment and scouting strategies leaving the foreign market, leagues with less money around as the only likely destinations.
 

I’m not saying not being able to sell fringe players for good fees was our biggest problem or a hugely significant hindrance to our model but before saying we “should have sold them and not let their contracts run down” define “let”, the dye was cast when we paid them too much, once you’ve done that you can’t find a buyer or force them out unless you pay off their contract early, you may have got 20 million for Soumare on Football Manager once but this is real life.

Paying big wages made players unsellable

 

Edited 3 April 2024 by foxinsocks

[Claudio Fannieri]

As others have stated, our expenditure on actual transfer fees hasn’t been that excessive, however our approach to wage expenditure has been nothing short of irresponsible and inept. 
 

I have absolutely no issue in players of the ilk of Vardy, Schmichael, Maddison, Barnes Ndidi, Riccy P and Tielemans being paid market rate when you consider their performances and given what the first 2 had achieved at the club. 
 

However where I have a massive issue and where I feel we have lost the plot, is in relation to the wages we have paid to squad players such as Ward, Choudhury, Bertrand, Vestergard, Praet, Perez, Soumare and Daka, whilst people say we wouldn’t have attracted them or retained them, I would argue we have massively overpaid as the only way to entice them to sign for us and therefore already running the risk of a player already losing their desire and hunger before a ball has been kicked, then on top of that when they are inevitably surplus to requirements  it is impossible to shift them due to the high wages, so they run their contracts down and leave for free. 
 

I also believe last season we were paying Alex Smithies in the region of £30-35k per week to be nothing more than 3rd choice keeper for training and drills, I mean make it make sense. 
 

Make no mistake, the spin is we gambled and threw the dice trying to be successful, yes that is true if you focus on the Vardy’s, Barnes, Madders, Youri’s of this world but that argument loses all manner of credibility when you take into account the wages handed out to rank average players like Bertrand, Vesty, Ward, Choudhury, Praet, Perez, Smithies et al. We lost all control of expenditure, it is absolutely disgusting 🤢 

[Sly]

Interesting read - wages and Amortisation are the painful bits. 

 

 

 

[ClaphamFox]

4 hours ago, STUHILL said:

Think that was more media driven to be honest. Who got relegated and who would be most pissed off kinda lazy journalism.

No way did our board have the audacity to officially be considering legal action against another club, knowing what we have been up to! 

It was completely media-driven. One or two enterprising journalists speculated on the possibility of other clubs suing Everton and focused on us because we came third from bottom and would have had the most plausible case. Nobody credible has ever claimed that Leicester were going to sue Everton. It’s frankly astonishing that people still repeat this story as fact when there is zero evidence for it.

Edited 3 April 2024 by ClaphamFox

[An Away Move]

35 minutes ago, Sly said:

Interesting read - wages and Amortisation are the painful bits. 

 

 

 

Average weekly wage in 2016 - £38,631

Average weekly wage in 2023 - £91,322

[Sly]

4 minutes ago, An Away Move said:

Average weekly wage in 2016 - £38,631

Average weekly wage in 2023 - £91,322

I’m not sure idea adjust that to account for a 13 month accounting period to be honest.

 

As a side note, if Southampton or Leeds don’t get promoted, I’d imagine they’ll be in a similar position to ourselves this time next season. 
 

Any team who have had more than a season in the Premier League and spent massively, will be hurting. 

[honeybradger]

46 minutes ago, Sly said:

Interesting read - wages and Amortisation are the painful bits. 

 

 

 

Am i thick or were Brighton in breach of FFP between 2019 and 2021 according to that table? It shows losses of over £105mil over those three seasons.

[Sly]

2 minutes ago, honeybradger said:

Am i thick or were Brighton in breach of FFP between 2019 and 2021 according to that table? It shows losses of over £105mil over those three seasons.

Different rules I believe. 

[Guest Chocolate Teapot]

11 hours ago, Babylon said:

Jesus  

He's not responsible that's for sure....

[m4DD0gg]

Might be a daft question but why are we taking loans from this australian bank?

 

Cant King Power 'loan' us the money and the club just pay them back?

[StanSP]

8 hours ago, Finn Claw II said:

Good job we can sign an emergency loan keeper.  If we don’t have 5 keepers on the books it’s no LCFC

Can we get rid of a keeper on an emergency basis, and use this as 'cooperation'

 

[Dahnsouff]

16 minutes ago, Chocolate Teapot said:

He's not responsible that's for sure....

Fancy his relation from down the road did the bookkeeping though

[st albans fox]

30 minutes ago, honeybradger said:

Am i thick or were Brighton in breach of FFP between 2019 and 2021 according to that table? It shows losses of over £105mil over those three seasons.

Covid rules allowed losses to be spread over four season I believe (or rules to same effect) 

[Dames]

I still can’t believe how this level of ineptitude has been allowed to continue year on year and theres still people out there who blindly back the ownership.

 

In a nutshell, we’re f’d. A points deduction every season at this rate for the foreseeable as well as any embargo’s. The way we’ve gone about it means both the Prem and EFL will throw the book at us as hard as they can. 
 

How are Rudkin and Whelan still in post this morning? 

[Dames]

8 hours ago, Mr Weller 2 said:

But morons would not have achieved so much success. They are not morons and to call them such is not only disrespectful but downright ridiculous.

No. They are morons and the state they’ve gotten the club in is disrespectful and down like ridiculous. 

[Wasyls Pec Deck]

2 hours ago, Claudio Fannieri said:

As others have stated, our expenditure on actual transfer fees hasn’t been that excessive, however our approach to wage expenditure has been nothing short of irresponsible and inept. 
 

I have absolutely no issue in players of the ilk of Vardy, Schmichael, Maddison, Barnes Ndidi, Riccy P and Tielemans being paid market rate when you consider their performances and given what the first 2 had achieved at the club. 
 

However where I have a massive issue and where I feel we have lost the plot, is in relation to the wages we have paid to squad players such as Ward, Choudhury, Bertrand, Vestergard, Praet, Perez, Soumare and Daka, whilst people say we wouldn’t have attracted them or retained them, I would argue we have massively overpaid as the only way to entice them to sign for us and therefore already running the risk of a player already losing their desire and hunger before a ball has been kicked, then on top of that when they are inevitably surplus to requirements  it is impossible to shift them due to the high wages, so they run their contracts down and leave for free. 
 

I also believe last season we were paying Alex Smithies in the region of £30-35k per week to be nothing more than 3rd choice keeper for training and drills, I mean make it make sense. 
 

Make no mistake, the spin is we gambled and threw the dice trying to be successful, yes that is true if you focus on the Vardy’s, Barnes, Madders, Youri’s of this world but that argument loses all manner of credibility when you take into account the wages handed out to rank average players like Bertrand, Vesty, Ward, Choudhury, Praet, Perez, Smithies et al. We lost all control of expenditure, it is absolutely disgusting 🤢 

What I don’t like as well is that in paying some of those duffers top whack - pretty much straight off the bat - you’re removing the space for progression in terms of salary. So no wonder it goes stale because they can’t possibly get any more here, so in a sense psychologically why try and progress? Certainly those of questionable character fell into that trap, but we masterminded our own downfall.  
 

Whoever moved us away from the model that served us so successfully (that Brighton get plaudits for now) needs hounding out.

[Mythyaar]

The levels of financial mismanagement here are Risdale-esque.

[An Away Move]

Listening to the ‘When you’re smiling’ podcast. Maguire says Leicester used to be spoken of along with Liverpool and Man City, and think about the company in that sentence, as being the best clubs at data driven player analysis in terms of skill and and return on investment. Somewhere along the way that has been switched off. Didn’t Rodgers once say he doesn’t pay that much attention to data driven models and didn’t some of our scouting analysts leave out of frustration over the last few seasons?

[Pliskin]

8 hours ago, Mr Weller 2 said:

But morons would not have achieved so much success. They are not morons and to call them such is not only disrespectful but downright ridiculous.

They are Morons. 
 

It’s not disrespectful, what’s disrespectful the the ridiculous state they’ve now left us in. There’s no defence at all……. You can’t bring up success as a defence, it’s not even negligence it goes well beyond that. This is a club, that when they already knew they were in breach, still offered Harrison £100k a week……. Knowing they were in breach still have given Winks a reported £80k a week……..

 

This is incompetence, ineptitude, insanity……. To suggest anything other is ridiculous. 
 

Top, cannot run this football club, he has not got a clue what he is doing. And he is surrounded by people who are equally as incompetent. He either needs to sack everyone around him, employ a more competent backroom staff, and then take a step back and just contribute under their advice, sack everyone around him, and sell the club. 
 

He has destroyed his fathers legacy, everything we built up over years has been ruined because of the few absolutely brainless seasons. 
 

A free beer and cake can’t get them out of this one, although it seems a % of the fan base would probably fall for that again……..

[An Away Move]

3 minutes ago, Mythyaar said:

The levels of financial mismanagement here are Risdale-esque.

Keiran Maguire says if we’re looking for a precedent of where Leicester are at then it is Leeds United back when they flew too close to the sun.