Accounts 22/23

[Muzzy_no7]

I remember when I used to get hammered on here for revealing some of the players wages😂

[Cropwellfox]

This mob are the absolute definition of complacency - we could all see a massive fall off was happening 18 months ago, yet they still admit to budgeting in accordance with being towards the top third of the premier league table for last season. Staggering incompetence on display and the narrative accompanying the report prepared by Whelan’s spin doctors is disgusting in its arrogance. They also know we can’t protest on a large scale basis in the ground without them coming out and blaming fans for not supporting the team when needed. Rudkin, Whelan, and by failing to act Top have mismanaged OUR club to a level arguably never seen before given the amount of revenue we make. Utter shame on them. The supporters - and club staff who earn a fraction of this load of incompetent leaders - will feel the effects of their contempt for common sense and the rules they agreed to for years and years to come. Rotten to the core, Leicester City Football Club’s leadership. 

[HankMarvin]

3 minutes ago, CloudFox said:

This...this looks catastrophic. How on earth are we going to recover from relegation if we have to sell our best players (with clubs knowing we need to sell by 30th June) whether we get promoted, or not?

 

Either way, next season we are likely to have a weaker squad, and no way to replace those important players.

 

What the **** have you done, Top, Whelan and Rudkin? And how dare you put out a statement minimising how much damage it seems you've done to our club?

Don’t think we do need to sell this is last years account, we will have massively exceeded this seasons anyway as it’s half the normal annual losses for a championship season. I think it’s imperative for the future of the club we get promoted though

[Nolucklcfc]

2 minutes ago, whetstonefox said:

I find it staggering that neither Whelan and Rudkin have quit . They are showing no respect to either LCFC or Top.Even if he hadn’t requested their resignations they should still have been offered. 

Because they just think they’ve been hard done by. They think they are being punished for trying to compete with the big boys. They think they’ve been unlucky by an unexpected relegation. All of this would never have happened at any other club to this extent. How can that figure not draw accountability or an acceptance of mistakes being made. There’s absolutely non of that. Yet Top is too loyal to see it. Whole club needs gutting to get people in who know what they are doing. 

[Les-TA-Jon]

15 minutes ago, Bilo said:

Absurd mismanagement, but I suspect that the authorities and past precedent will still keep the points deduction down. It won't be 9 points or anything near to it, because both Everton and Forest saw the PL pushing for such a deduction but were shot down because 9 points is the penalty for liquidation and it was deemed disproportionate. I suspect we'll get six points and consider ourselves lucky.

Trouble is our breach is likely 4 times the size of Everton’s? 

[Corky]

Will the £100 million we'll get from Everton help for next year's?

[Muzzy_no7]

Cannot believe some people are suggesting and advocating for us not bothering with going up. We absolutely need to get promoted, even if it means we come straight back down again. 

[HankMarvin]

Just now, Cropwellfox said:

This mob are the absolute definition of complacency - we could all see a massive fall off was happening 18 months ago, yet they still admit to budgeting in accordance with being towards the top third of the premier league table for last season. Staggering incompetence on display and the narrative accompanying the report prepared by Whelan’s spin doctors is disgusting in its arrogance. They also know we can’t protest on a large scale basis in the ground without them coming out and blaming fans for not supporting the team when needed. Rudkin, Whelan, and by failing to act Top have mismanaged OUR club to a level arguably never seen before given the amount of revenue we make. Utter shame on them. The supporters - and club staff who earn a fraction of this load of incompetent leaders - will feel the effects of their contempt for common sense and the rules they agreed to for years and years to come. Rotten to the core, Leicester City Football Club’s leadership. 

Can’t argue with the fact that we have 2 overpaid gk still on the books in light of all this information coming to light 12 months ago

[gazzaa2]

3 minutes ago, JimmyC74 said:

Kieran Maguire has essentially said our situation similar to Leeds when it went tits up in the early noughties. So its about as bad as you can get.

Which is exactly what these rules were supposed to be brought in to prevent.

 

Nobody took the PL seriously though until the Everton deduction. Although Top must have done to not spend in 2022 which looks even more foolish now as we may as well have spent, stayed up and took the hit like Everton did.

[Bilo]

Just now, Les-TA-Jon said:

Trouble is our breach is likely 4 times the size of Everton’s? 

Pretty much for the birds given that the PL and Independent Panel have effectively capped the scale of points deductions for any financial breach short of liquidation.

[don_danbury]

if we somehow manage to go up then the derby record is there for the taking.

[Guest leatherhead32]

i keep reading if we get points deducted itl be next season in the prem should we go up, i take it same if we stay in 2nd div / championship , thanks to anyone who replies in layman's terms, rather have it from a fellow supporter than read a link from wherever. 

[Mike1983]

2 minutes ago, Les-TA-Jon said:

Trouble is our breach is likely 4 times the size of Everton’s? 

Didn’t most here call for the club to sue them for our relegation? Club and fans are clowns.

[Dahnsouff]

Is there any way special measures can be invoked? Wondering if moving to the Premier League (if promoted) or even staying here (if not) are on the cards with the scale of this breach.

[Lambert09]

Just now, don_danbury said:

if we somehow manage to go up then the derby record is there for the taking.

oh ffs 

[J.Lisemore]

I mean we knew the financial impact at the time to an extent but to not sack Rodgers earlier has got to be one of the biggest misjudgements a football board has ever made. On top of what we would have already lost (players given away on frees, unable to get rid of deadwood on high wages) we went from a mess to doomed with relegation. I can't see how Rudkin and co can keep their jobs? It's an absolute disgrace that our hierarchy are still in place. 

[Mickyblueeyes]

Lee congerton is either an excellent interviewee or ****ing dynamite in bed.

 

So, Lee, Hamburg, Sunderland and Leicester all down the toilet, how do you explain that. 
 

Well….I went to a Dortmund game and saw a player, cracking player. It was Haaland, the refused to sign in. Can’t control it. 

[CloudFox]

5 minutes ago, HankMarvin said:

Don’t think we do need to sell this is last years account, we will have massively exceeded this seasons anyway as it’s half the normal annual losses for a championship season. I think it’s imperative for the future of the club we get promoted though

That's an interesting point, thanks. I guess it depends if the PL try to punish us for doing so in the EFL, or if we have to reach a settlement with the EFL like last time...which would of course go into our PSR anyway. Bleh.

[LVFox]

Hearing Kieran Maguire on the when you're smiling pod refer to the only real comparative situation to this is Leeds back in the early 2000s is absolutely terrifying.

 

2014-2022 was brilliant, 2022-2030 is going to be dark.

[Steve_Guppy_Left_Foot]

Let’s be honest though, I absolutely agree the club is being massively mismanaged but if a multi billionaire wants to lose hundreds of millions of quid trying to get a football club established, no matter how misguided they are, they should be allowed to. As long as they can guarantee the future security of the club. The rules are a joke and it’s largely why I have fell out of love with football.

Man City and Chelsea can spend literally billions but little old forest or Leicester spend a few hundred million and over pay on wages and they are hit with points deductions. Honestly at this point I think the only thing that will reignite my passion for football is letting all the big wigs sod off to their super league and letting proper clubs compete for domestic honours. At this point it’s probably too far gone though, the sport washing from Saudi is also a huge issue to me, it’s affecting my enjoyment of F1 and boxing as well, basically top level sport has become an absolute joke.

[Izzy]

Meanwhile, little old Brighton sold all their best players, finished sixth, and made a £123m profit

 

[JimmyC74]

We have to hope we can get promoted and then perform a massive reset of the playing squad built around our youth team Braybrooke, Alves, Nelson etc.  Bank the broadcasting revenues and most likely rebuild stronger following relegation into the Championship.

 

The concern is if we stay in the EFL we have an embargo, points deduction and lower loss threshold under P&S rules (£83m losses over three years).

 

Can't see Enzo staying.  We will need a McKenna style manager who is prepared to stay for the long haul and build us back

Edited 2 April by JimmyC74

[CloudFox]

5 minutes ago, Dahnsouff said:

Is there any way special measures can be invoked? Wondering if moving to the Premier League (if promoted) or even staying here (if not) are on the cards with the scale of this breach.

I think that's essentially the defense the club has against this. Extenuating, unexpected circumstances, if you will.

 

Kind of makes Ranieri's refrain of "we need to get to 40 points first" in our title-winning season just a mantra for all non-top-six clubs to live by now. Even if you're in Europa League, make sure you don't get relegated first!

[jayfox26]

At least if we do go up and break Derbys lowest points record, we can say it was down to the points deduction and not because we'll be absolutely shit as we've sold all our best players and can't replace them. 

[Jimmy]

3 minutes ago, Izzy said:

Meanwhile, little old Brighton sold all their best players, finished sixth, and made a £123m profit

 

helps that their owner went out and recruited one of the best Sporting Directors in the country, we're stuck with Rudkin, who people still defend