Leicester at risk of another Premier League PSR charge over latest accounts

[filbertway]

27 minutes ago, lcfc_forever said:

 

PSR makes it very difficult clubs like Leicester with lower revenues to sustainably compete for the top positions. 

 

But the board has played a challenging set of cards very badly. 

Common sense tells you that it's hard to sustainably compete at the very top if your turnover is a third of the top clubs.

 

PSR prevents people with massive ego's spending money that the club doesn't have, leaving it riddled in debt and going onto their next little venture.

 

All clubs should be striving to live within their means. PSR ruls really aren't the issue, it's the general mindset where people are saying "We should be allowed to lose more than £100m every 3 seasons"

 

Think how insane that is for a second.

[Pliskin]

3 minutes ago, Claudio Fannieri said:

It says we are confident but will be close which could still mean it is open to conjecture or interpretation, I would not be shocked if PL announce we have breached. 

Which makes me think we’ve already looked at the numbers with De Marko’s team.

 

I do think the PL will announce that we’ve breached regardless, because they will likely scan the accounts see a number and just shout BREACH, finishing the day with bum slaps in the shower…… so we know we’ve not breached technically and will prove it. (Hopefully)…. The problem is, we are now at war with the premier league, and I can see them instantly taking points off us and attempting to completely derail us pre and appeal. 
 

What is the stance with deductions? Can you appeal before they’re administered? 

[VLC86]

Nothing screams displaying ambition quite like paying Danny Ward, Justin, Choudry etc etc etc the wages we pay.

[Nolucklcfc]

The rules are there whether the board agree with them or not. I don’t understand why they feel so hard done by. 

[Sol thewall Bamba]

1 minute ago, Nolucklcfc said:

The rules are there whether the board agree with them or not. I don’t understand why they feel so hard done by. 

Yeah. It's embarrassing they're trying to play some kind of victim. Culture of not being held accountable from the owners I guess, then throw their toys out the pram when an external body comes in and tells them they're not doing what they should be. 

[UniFox21]

4 minutes ago, VLC86 said:

Nothing screams displaying ambition quite like paying Danny Ward, Justin, Choudry etc etc etc the wages we pay.

The rules are unfair and do prevent ambitious clubs growing. And that did start our issues.

 

We've then decided to continually chuck petrol on the situation and made it 100x worse. 

[VLC86]

2 minutes ago, UniFox21 said:

The rules are unfair and do prevent ambitious clubs growing. And that did start our issues.

 

We've then decided to continually chuck petrol on the situation and made it 100x worse. 

I agree, but the rules are not the reason we have ****ed this up and I really don’t need to go over that old ground.

[Bluetintedspecs]

I find some of the drama queen reactions on here quite ridiculous,  Percy has not confirmed anything or said anything different. 

He has reiterated the clubs 'confidence' stance in one hand, then in the other he's trotting out speculative soundbites and pure guesswork from the usual suspects and sources.

The amount on here hissy fitting and throwing in the towel is embarrassing, the only things for sure is it'll be close and only the Club and EPL definitively know right now! 

For those with the 'we're definitely getting a charge'  viewpoint , as any potential  announcement is getting closer, would people not have expected to see more definitive ' This news outlet has learnt from sources within EPL ' etc  if its that definite? 

 

[BigC]

The rules are 100% BS and they need to be scrapped from an objective POV. But that doesn't take away from the fact how useless the people at the top of the club are.

[Aleksz]

3 minutes ago, Bluetintedspecs said:

I find some of the drama queen reactions on here quite ridiculous,  Percy has not confirmed anything or said anything different. 

He has reiterated the clubs 'confidence' stance in one hand, then in the other he's trotting out speculative soundbites and pure guesswork from the usual suspects and sources.

The amount on here hissy fitting and throwing in the towel is embarrassing, the only things for sure is it'll be close and only the Club and EPL definitively know right now! 

For those with the 'we're definitely getting a charge'  viewpoint , as any potential  announcement is getting closer, would people not have expected to see more definitive ' This news outlet has learnt from sources within EPL ' etc  if its that definite? 

 

Mate I know you said the other day you prefer to take a positive outlook on things, but don’t knock others for seeing it for how it is and taking a more realistic view 

[Number 6]

3 minutes ago, Bluetintedspecs said:

I find some of the drama queen reactions on here quite ridiculous,  Percy has not confirmed anything or said anything different. 

He has reiterated the clubs 'confidence' stance in one hand, then in the other he's trotting out speculative soundbites and pure guesswork from the usual suspects and sources.

The amount on here hissy fitting and throwing in the towel is embarrassing, the only things for sure is it'll be close and only the Club and EPL definitively know right now! 

For those with the 'we're definitely getting a charge'  viewpoint , as any potential  announcement is getting closer, would people not have expected to see more definitive ' This news outlet has learnt from sources within EPL ' etc  if its that definite? 

 

I think people are angry at the hierarchy for so much at the moment that anything negative against them gets latched on to. Whatever the source and whatever the truthfulness. 

 

Agreed that mud on this shouldn't be slung unless it's deserved. 

[Kitchandro]

36 minutes ago, Mickyblueeyes said:

We were not correct. A highly paid excellent legal mind found an issue with the drafting. Operating how we were (currently are) in no way was based on understanding the rules. That was an afterthought based on advice. It was hope which paid off.

 

The rules have only impacted us more and made it impossible for us to operate because we were paying extortionate wages on assets which were significantly below such value. That is why we have found it so difficult to adhere to the rules. A practice which we continue with to this day. In a couple of years, it will be the Ayew, Veste, Skipp etc. contracts that have a negative impact. We are then unable to dispose of those overly paid assets and in turn unable to acheive the revenue our initial investment desired. 

 

The club, its ownership and the senior executives have let themselves down and continue to do so. 

We can’t ignore the fact that PSR rules benefit bigger clubs with bigger revenues. Whether you think that’s better or worse than the richest billionaire owners being the most important factor in a club’s success is another matter. But we can be sure that everything football has done over the last 30 years has made it less competitive and more difficult for medium/small clubs to compete. That could be addressed with a wage and transfer spending cap that’s the same for every club in line with the poorest club in the league, but that would be too ‘fair’ for the bigger clubs to accept, so we ended up with this instead.
 

I agree though, the club have known the rules so there are no excuses and getting away with it on a technicality doesn’t change the fact we’ve pissed so much money up the wall. The suggestion is we’re essentially asset stripping the playing staff and just buying players for the sake of it, almost to make it look like we’re trying to stay up. Whether we actually get a charge is irrelevant, it’s clear we are not doing the business we need to do to stay up and that’s years of negligence coming home to roost.

 

In reality we are down unless we sign several players good enough to walk into the starting 11, and when we do go down we’ll be left with a squad of very little potential and a likely points deduction. The club is absolutely dead. I mean it wouldn’t be if we were just crap but going down to support them was still fun, but no, the club ruined that too.

Edited 9 January 2025 by Kitchandro

[VLC86]

1 minute ago, Number 6 said:

I think people are angry at the hierarchy for so much at the moment that anything negative against them gets latched on to. Whatever the source and whatever the truthfulness. 

 

Agreed that mud on this shouldn't be slung unless it's deserved. 

Is it not deserved for it even being this close?

[Wymsey]

So, it seems like no points deduction - yes?..

Edited 9 January 2025 by Wymsey

[st albans fox]

The only argument that the board have is that they’ve been unlucky that they broke the rules at a time when everyone assumed the penalty for breaking the rules would just be a fine. 
everton took the main rap and managed to survive. Forest too to an extent.  Then clubs, faced with the points penalty found creative ways around psr.   If we had known that point penalties were likely to be administered, we would have sold player(s) after the fa cup win to keep things moving.  Rodgers asked that no one was sold that summer and basically that is the call which screwed us up.  If we’d sold then we could have recruited better the following summer when rodgers lost his sh#t.   the wages are the elephant in the room.  That’s where we have no excuses - we couldn’t afford those wages so we should have sold those players who were demanding them.   the only differences could be argued to be vards and kasper.  And if you’re running a proper business then even that really shouldn’t matter. (although that’s a tough one). 

[Babylon]

2 minutes ago, Mickyblueeyes said:

But they were based on legal advice post event right - we didnt have De Marco review business strategy pre-event. The point is, the club were very much part of the decision making in implementing these rules (and finance is not my area so I am not chapter and verse expect on them), they were also operating on the high wages, experienced player target and altering the previous method. 

Our stratergy started long ago, we shifted out accounting period long before all these issues cropped up. We had a plan (for once), I mentioned the exact thing at the time. 

 

In terms of the cases I'm talking about, there have been numerous cases. Some smaller and some larger, some were more clear cut than others. But the EFL absolutely acted outside of their own rules. The independent panel said there was no ambiguity, they had no right to try and force a business plan on us back in November 2023.

 

Then you have the legal proceedings we started against the League and EFL about them conspiring. Which ended with the league saying "Having taken legal advice, the EFL has confirmed to all parties that whilst it would want to respect any decision of a Premier League Disciplinary commission (and vice versa) to deduct points in the EFL, it does not have the power under the Regulations". They backed down and we didn't even need a ruling in the end, they admitted they were going to act within the rules. 

 

Then you have the other cases against the prem about us not technically being a premier league team. 

 

 

Actually we weren't in the prem when they voted in the rules and we voted against them in the champ I believe. So we weren't that involved in the decision making. 

[ClaphamFox]

I've been offline this morning and only just read the Percy article. Given how much comment it has generated, I was surprised at how little new information there was it. Percy clearly does not know whether we've breached or not - in fact he admits that the only people who know are the club and the PL. Given everything I've read over the past few days, my best guess is that our PSR loss for 2021/24 was somewhere between £83m and £105m, and the club and the FA are locked in a legal battle over which threshold should apply.

 

If the PL wins that argument and the limit applied is £83m, I reckon we'll argue that we deserve a lower points deduction than Forest and Everton received because our loss will be lower. The PL may want to make an example of us, but whether they're able to is another matter entirely, especially as the punishment is determined by an independent legal panel.

Edited 9 January 2025 by ClaphamFox

[LCFCCHRIS]

People often say why don't we sell X player.

 

The reality is we would never be able to sell them, nobody wants to pay their wages and the player will stay put on inflated leicester City wages. There is NO moving on a player who is on more than he is worth, simple as. We'd be better off releasing them from their contact/ coming to a settlement. 

 

This is a massive failing of the board and whoever does the negotiations. Years of ineptitude since winning the league have caused this. We wanted to be top 6 so bad we started to think we could pay their wages. Big mistake. 

[The boy Linacre]

43 minutes ago, DezFox said:

Danny ward has had 2 new contracts, what the Fvck has vesty been extended and hamza another new contract. Deserve everything we get. I’m at the point where I’m happy for king power to lose everything. Top is just a Nepo baby . 

NO fan would have offered those contracts if they had been running the financial side of the playing side.  How come we all see it and they don't, same with the unrequired Skipp purchase.

Why lengthy contracts when you are performing well at a lower level after failing at the top level.  As much as the length is actually the offer, they should have been advantageous to us AND if they didn't like them they could walk, which they may have done.  It isn't the difference, all 3 are in the club and we are STILL 2nd bottom.

They all failed repeatedly!!  Vesty has been much better last and this season but has made 22 PL apps, BUT we know what the fans think of Ward, and Hamza just isn't a PL starter, 51 apps in 5 PL seasons, many many subs.

Stupidity

[StanSP]

36 minutes ago, HitchinFox said:

Just an irrelevant observation about that Percy article...

He finishes with the following:
"The club’s slogan “Foxes Never Quit” is being tested to the full." 

That's something you usually only see from undergraduates or trainee journalists. Ie. letting their personal feelings (Percy's a Forest fan) shine through in childish ways.
 

I don't see the childishness in it?

[ClaphamFox]

6 minutes ago, Babylon said:

Our stratergy started long ago, we shifted out accounting period long before all these issues cropped up. We had a plan (for once), I mentioned the exact thing at the time. 

 

In terms of the cases I'm talking about, there have been numerous cases. Some smaller and some larger, some were more clear cut than others. But the EFL absolutely acted outside of their own rules. The independent panel said there was no ambiguity, they had no right to try and force a business plan on us back in November 2023.

 

Then you have the legal proceedings we started against the League and EFL about them conspiring. Which ended with the league saying "Having taken legal advice, the EFL has confirmed to all parties that whilst it would want to respect any decision of a Premier League Disciplinary commission (and vice versa) to deduct points in the EFL, it does not have the power under the Regulations". They backed down and we didn't even need a ruling in the end, they admitted they were going to act within the rules. 

 

Then you have the other cases against the prem about us not technically being a premier league team. 

 

 

Actually we weren't in the prem when they voted in the rules and we voted against them in the champ I believe. So we weren't that involved in the decision making. 

This is correct. I've lost count of how many times I've read claims on social media that we're hypocrites because we 'voted for the rules', but it's complete bollocks. We did NOT vote for PSR.

[Babylon]

1 minute ago, ClaphamFox said:

This is correct. I've lost count of how many times I've read claims on social media that we're hypocrites because we 'voted for the rules', but it's complete bollocks. We did NOT vote for PSR.

Amazing really when it's peddled by credible journalists as well, featuring as a key part of their "hypocrites" articles. And yet, Babylon can do a search in 5 minutes and find out we didn't vote for either, in between his day job and posting on here 

[Samilktray]

2 minutes ago, Babylon said:

Amazing really when it's peddled by credible journalists as well, featuring as a key part of their "hypocrites" articles. And yet, Babylon can do a search in 5 minutes and find out we didn't vote for either, in between his day job and posting on here 

Alright, no need to show off pal

[Guest Lako42]

The entire club is riddled with deluded dimwits who are so far out of their depth it's embarrassing. 

 

 

Unqualified suits sucking up to a little boy billionaire. 

 

 

 

[Bluetintedspecs]

17 minutes ago, Aleksz said:

Mate I know you said the other day you prefer to take a positive outlook on things, but don’t knock others for seeing it for how it is and taking a more realistic view 

Tell me how it is then , have we definitely  been charged then and I've missed it? 

I'm not knocking others,  others are forming, giving strong reactions and  opinions. I am giving my opinion on those opinions and why I feel that way, sorry is that not allowed ?