King Power Out

[fkas]

10 minutes ago, CosbehFox said:

It is normal practice, half of the Premier League does it. When we were in that position it works perfectly fine.
 

When we got relegated under Rodgers, that was the time to step away from it and sort the wage bill out. But they continually doubled down. 

I agree it's common practice and not just in the Prem. Future funds in are just leveraged to provide cash now. Lots of businesses do this through factoring companies for instance. 

 

Debt in of itself is not a major issue, as long as you can make the repayments and the debt provides cashflow so operations can continue that's an ok business practice. Issues arise when you can't service the debt. We are in for a hard year financially as we reset. We should have done it last season but hey ho. We've wiped off about 50% of the salary expenditure. Generated transfer funds in to help service the debt and ongoing costs with probably a bit more to go. More than 23k of season tickets sold will help, winning football with the younger homegrown talent will see good attendances again. Financially we'll be fine as long as we keep the belt tightened and get promoted.

 

I think Top cares, Top is just naive and was overconfident in what could be achieved.

[Sol thewall Bamba]

26 minutes ago, CosbehFox said:

We are bothered but it’s not the largest percentage of us at all. Plenty of us told we’ve been ungrateful and the club is absolutely running out of cash 

Even the people that are bothered aren't bothered enough imo.

 

Who can hand on heart say they've done enough to actively get KP out? Maybe a handful that organised the marches, spoke to the media, did banners etc. That's a couple of dozen at the very most. 

[CosbehFox]

38 minutes ago, Sly said:

The general match day / Facebook fan will tells us that we should be graceful, as we were in League 1 …. Once

Ahh and when in the coming months, the redundancies sadly start…that will be hard to stomach. 
 

Already signs that the fan facing part of the club is beginning to suffer given the farce on ticketing over the last two weeks 

[CosbehFox]

36 minutes ago, fkas said:

I agree it's common practice and not just in the Prem. Future funds in are just leveraged to provide cash now. Lots of businesses do this through factoring companies for instance. 

 

Debt in of itself is not a major issue, as long as you can make the repayments and the debt provides cashflow so operations can continue that's an ok business practice. Issues arise when you can't service the debt. We are in for a hard year financially as we reset. We should have done it last season but hey ho. We've wiped off about 50% of the salary expenditure. Generated transfer funds in to help service the debt and ongoing costs with probably a bit more to go. More than 23k of season tickets sold will help, winning football with the younger homegrown talent will see good attendances again. Financially we'll be fine as long as we keep the belt tightened and get promoted.

 

I think Top cares, Top is just naive and was overconfident in what could be achieved.

He’s a symptom of his business culture. Gamble, gamble, gamble and when it all goes wrong, shrug your shoulders, blame someone else. Plenty of examples in football for this alone. 
 

He’s never fully grasp the consequences of a football club going rotten has. That’s where I fail to get on side with the ‘he cares’ comments.

 

It might be cultural but we are as good as peasants to him 

 

I don’t have the same confidence as you that the accounts this year will be fine. I suspect a blood bath 

Edited 13 hours ago by CosbehFox

[CosbehFox]

38 minutes ago, funkyrobot said:

The very significant reductions in wages, the significant sales well above and beyond the £28m outstanding transfer debt. The quality/value of the youth players. Maguire lights the touch paper and allows uninformed non accountants without up to date information to declare the worse case scenario.
 

Which is what if going on in this thread. We know the club has been ran badly, we also know the club have put better structures in place to prevent some of the failures in the past and we know the club is also up for sale and despite the pessimism on here, it’s probably the best time to buy a club of this stature. 

But Maguire doesn’t know the current wage bill, he doesn’t know the transfer fees incoming. He has no physical evidence of it. Hence can’t forecast a future of positivity. 
 

Everything he’s stated is fact because it’s evidence based for publically access information. Thats all he can do because anything else could see him in court 

[dmayne7]

33 minutes ago, Sol thewall Bamba said:

Even the people that are bothered aren't bothered enough imo.

 

Who can hand on heart say they've done enough to actively get KP out? Maybe a handful that organised the marches, spoke to the media, did banners etc. That's a couple of dozen at the very most. 

Important to remember that some things are relative (which also means less impactful unfortunately).

 

If you live right in the centre of Leicester and have a ST then joining the protest or refusing to attend/giving up a season ticket is something you can do, and is on the impactful end. If you live 4 hours away then your options are limited so giving up a membership, refusing to buy merchandise etc is probably what you can do but unfortunately is far less impactful.

 

If you're in the former category, you've probably also got to sacrifice more so I do get that, but unfortunately there's definitely a good chunk of people who aren't putting their money where their mouth is

[Sly]

23 minutes ago, dmayne7 said:

Important to remember that some things are relative (which also means less impactful unfortunately).

 

If you live right in the centre of Leicester and have a ST then joining the protest or refusing to attend/giving up a season ticket is something you can do, and is on the impactful end. If you live 4 hours away then your options are limited so giving up a membership, refusing to buy merchandise etc is probably what you can do but unfortunately is far less impactful.

 

If you're in the former category, you've probably also got to sacrifice more so I do get that, but unfortunately there's definitely a good chunk of people who aren't putting their money where their mouth is

I think an element of it is that we also have a fairly large casual following, especially since our return to the Premier League. That will dwindle down the longer we stay outside of the league.

 

Realistically, outside of the match day games, I’d guess 40% - 50% of our fan base have no idea, or largely care about how the club is run, the academy, King Power, Top, Rudkin, Susan Whelan etc. 

 

To that end, why would they even be clued up to the point where they feel the need to do more. 

[dmayne7]

16 minutes ago, Sly said:

I think an element of it is that we also have a fairly large casual following, especially since our return to the Premier League. That will dwindle down the longer we stay outside of the league.

 

Realistically, outside of the match day games, I’d guess 40% - 50% of our fan base have no idea, or largely care about how the club is run, the academy, King Power, Top, Rudkin, Susan Whelan etc. 

 

To that end, why would they even be clued up to the point where they feel the need to do more. 

Spot on. I think the age of the internet distorts that. The FB lot get ripped on here (rightly so) but sadly even that are more in tune with the club as a whole than a big of match going fans. And it's not just the casual fans, at any football club there are always season tickets holders who have absolutely no clue about anything outside of the matchday

[fkas]

56 minutes ago, CosbehFox said:

He’s a symptom of his business culture. Gamble, gamble, gamble and when it all goes wrong, shrug your shoulders, blame someone else. Plenty of examples in football for this alone. 
 

He’s never fully grasp the consequences of a football club going rotten has. That’s where I fail to get on side with the ‘he cares’ comments.

 

It might be cultural but we are as good as peasants to him 

 

I don’t have the same confidence as you that the accounts this year will be fine. I suspect a blood bath 

I'm not sure the accounts are fine, it's just survivable. Generally the people we owe money too are unlikely to want to push for administration whilst we are still bringing money in, still actively reducing cost and still in a position to potentially have a decent season. 

 

Were the club to go into adminstration then creditors get pennies on the pound back rather than full amounts. As long as the loans are we have remain serviceable it's probably doable. Just don't expect us to be signing players for fees. It's going to be a much smaller squad this season.

[SB87_LCFC]

When it came out at Xmas that staff hadnt been paid in accounts, the club shop, etc a lot of people were concerned then and it turned out that it was far worse than any of us had envisaged. 

 

If the reports on X are true that we are paying £200k a week in interest to this Aussie bank, no wonder we are in the position we are in. 

 

Peoples concerns about the manager being given false promises could very well have some legitimacy to them, i for one are now more concerned than before. The quicker someone can buy us the better by the look of it 

[fuzzymizzit]

2 hours ago, Juan Carrito said:

It's expensive, but I don't think the factoring of transfer receivable is the worst thing in the world if you're using the funds for something that is likely to be cash generative. The issue we have is that we've just been using it to fund day to day expenses and eventually you run out of marketable players to sell - when you factor in the fact that our tv/sponsorship income will be well down and our costs, even if dropping, won't fall by the same proportion then a massive cash crunch feels inevitable at some point. If you have an owner who will cover it then fine, but I'm not sure how much that is the case anymore ......

 

KM does like to ham things up for clicks in my opinion but we're clearly, despite a positive pre season, in a horrendous financial bind.

 

 

If we're paying loans back to KP at 6% then I'd say the ownership is very much not covering it at this point

[Sol thewall Bamba]

2 hours ago, CosbehFox said:

Ahh and when in the coming months, the redundancies sadly start…that will be hard to stomach. 
 

Already signs that the fan facing part of the club is beginning to suffer given the farce on ticketing over the last two weeks 

Will be interesting to see what the usual KPFC names on Facebook will say when the redundancies start hitting.

[Samilktray]

Have we made any redundancies already this summer?

[Dan]

3 hours ago, Mapperleyfox said:

Enjoy the football while you can. I'm no football finance expert but the unsustainable numbers being talked about all seem to point towards the club ceasing to exist pretty soon unless something dramatic happens. We are likely to be the first major club to go bust and there's no coming back once we're gone. I cannot articulate how angry I am that not only have KP mismanaged us, but we don't even have any assets or a decent team to show for it. And some clowns still defend them???!

 

King Power have destroyed 130 odd years of proud history. No wonder they want an exit - they're trying to sell and get out as quickly as possible so they can hide away back in Thailand and forget we ever happened, without being held accountable.

 

If any of the owners or Rudkin dare show their faces at the ground going forwards they need to be made very clear they are not welcome. If that means intimidation (not violence) then so be it. We are Sheff Weds mark 2 if we're even lucky enough to survive.

It's sportswashing. They've successfully brainwashed people for years and they've given their full trust to KP.

[CosbehFox]

32 minutes ago, SB87_LCFC said:

When it came out at Xmas that staff hadnt been paid in accounts, the club shop, etc a lot of people were concerned then and it turned out that it was far worse than any of us had envisaged. 

 

If the reports on X are true that we are paying £200k a week in interest to this Aussie bank, no wonder we are in the position we are in. 

 

Peoples concerns about the manager being given false promises could very well have some legitimacy to them, i for one are now more concerned than before. The quicker someone can buy us the better by the look of it 

Exactly that but a few nights, a supporters decided to physically assault supporters who called the situation out. 

[john ridley]

With me there's only 2 to blame and it lands squarely at Top and Rudkins door.

[fkas]

24 minutes ago, Samilktray said:

Have we made any redundancies already this summer?

If we were going to make them then at the start of the summer would have been the time to do it. Why pay staff during the quietest part of the year then hand out redundancies as things get busy?

 

The staff were paid, they were just paid on the 31st instead of mid month, pre Christmas as was tradition. It was a dick move not to inform them well in advance when opting to align payment dates across the group but they were paid.

52 minutes ago, SB87_LCFC said:

When it came out at Xmas that staff hadnt been paid in accounts, the club shop, etc a lot of people were concerned then and it turned out that it was far worse than any of us had envisaged. 

 

 

[Jattdogg]

26 minutes ago, john ridley said:

With me there's only 2 to blame and it lands squarely at Top and Rudkins door.

Lets be more real, rudkin is a knob but as a CEO, you need to recognize trajectory of your club and tighten the cash flow when and where needed. If you are too thick then well you are the absolute problem.

 

Rudkin should have been canned a long time ago.

[lcfc_forever]

Worth a read, Maguire has given more context here saying that administration is remote but things are messy. That said this line stood out - King Power are charging the club for loans they make!

"Over the course of the last 10 years, it's cost the club £82m in interest costs on those loans. Some of the loans have been written off by the owner, but there's still amounts due to King Power and whilst most football club owners lend money interest-free, the reason best known to themselves, King Power are charging Leicester City 6% interest on them loans.

https://www.leicestermercury.co.uk/sport/football/football-news/leicester-city-bank-loan-financial-11079022

Edited 10 hours ago by lcfc_forever

[Chrysalis]

On 26/07/2026 at 09:44, VLC86 said:

I get the point, but it’s an enormous risk isn’t it for a club that probably can’t afford to take one.

 

I don’t think any of the youth strikers are likely to be strong enough to lead a team to promotion at this point in time either.

How is it risky to use youth players?  They the best way of getting our spending under control.  If at least 7 starters are youth, I might actually start watching us again.

Edited 10 hours ago by Chrysalis

[Stadt]

8 minutes ago, Chrysalis said:

How is it risky to use youth players?  They the best way of getting our spending under control.  If at least 7 starters are youth, I might actually start watching us again.

Because if you have too many players who are completely inexperienced or might not be good enough we lose more games than we win.

 

It's a tricky balancing act but actually spending £5m is more prudent if it gets us promoted than spending nothing at all.

[VLC86]

26 minutes ago, Chrysalis said:

How is it risky to use youth players?  They the best way of getting our spending under control.  If at least 7 starters are youth, I might actually start watching us again.

They are an unknown quantity at senior level, they can be inconsistent and that might cost us promotion.

 

3/4 starting with quality, experienced professionals around them would be wise with another 2/3 on the bench. If you start with 7 and base your whole season around these being good enough and we lose the first few, it will ruin them.

[ealingfox]

The fact is a disturbing proportion of our fanbase, and particularly our match-going fanbase, simply do not care about the club's health or fortunes. It isn't a consideration for them.

 

They have a routine which involves visiting the ground while games are on, but you could easily start allowing another team to play their games there, and swap them in for us whilst Leicester City play elsewhere, and it would not matter to them.

[CruzNoir]

On 22/07/2026 at 16:25, JonnyBoy said:

Non story though eh @CruzNoir 

That panned out into a big fizzle of nothing 

 

great story 

[LC1884FC]

22 hours ago, adam said:

Tick tock