KP Debt to Equity

[Tuna]

Just now, HankMarvin said:

The last time 

 

 

Their conversion into equity serves to strengthen the Club’s balance sheet, reduce its interest costs, and provide further evidence of King Power International’s commitment to supporting the Club’s long-term sustainability."

Srivaddhanaprabha's gesture is the second of its kind since the family took control of the club back in August 2010. It follows the lead of his late father, Vichai, who tragically died in a helicopter crash that claimed the lives of two other passengers and the pilots outside of the King Power Stadium in 2018.

When was it?

[HankMarvin]

Just now, Tuna said:

When was it?

Article Feb 1, 2023

[MattFox]

2 minutes ago, HankMarvin said:

The last time 

 

 

Their conversion into equity serves to strengthen the Club’s balance sheet, reduce its interest costs, and provide further evidence of King Power International’s commitment to supporting the Club’s long-term sustainability."

Srivaddhanaprabha's gesture is the second of its kind since the family took control of the club back in August 2010. It follows the lead of his late father, Vichai, who tragically died in a helicopter crash that claimed the lives of two other passengers and the pilots outside of the King Power Stadium in 2018.

Weird how they shoe horn the crash into this

[Onions]

Yet, people don’t like our owners. 🤦

[Danizen]

14 minutes ago, st albans fox said:

You will recall that one of the issues highlighted a few months ago was owner loans to clubs which were not being charged interest at commercial rates.   This was assessed to be wrong.  So you should expect to see a lot of clubs that are sailing close to PSR winds to be doing this.  hence we avoid an interest charge on our accounts of around £8m. Given that we are half way through the financial year that would reduce our losses 24/25 by approx £4m.  
 

 

Which proves how arbitrary the rules really are. 

Surely being lucky enough to have access to interest free loans means less money flowing out of the club's accounts and is therefore more sustainable. 

 

What does the S in PSR stand for again? 

[Sly]

1 minute ago, Onions said:

Yet, people don’t like our owners. 🤦

In fairness, they generated the debt! 

[Wasyls Pec Deck]

8 minutes ago, MattFox said:

Look who’s piped up

 

 

This bloke is a total tosser.

 

We’re now supposed to forgive a lack of leadership and strategy then? This will only strengthen the resolve among those of us who want meaningful change.

[Dahnsouff]

1 minute ago, Onions said:

Yet, people don’t like our owners. 🤦

Appreciating this and being discontented by their mismanagement at a board level are not mutually exclusive.

[CL Fox]

1 minute ago, Sly said:

In fairness, they generated the debt! 

Man sets fire to his own house and calls the fire brigade.

Edited 24 January by CL Fox

[MPH]

I’m not sure how this benefits the club in this transfer window…

 

other than the money allocated for loan repayments can now be used for a transfer, maybe?

 

 

we’re probably about to sign someone but I wouldn’t expect several big signings from this..

[Bilo]

12 minutes ago, Nolucklcfc said:

Would be more attractive to a buyer with virtually no debt 👀

And they'd be able to demand a higher price.

[Globalfox]

Makes it look like any potential buyer will have to dig deeper circa 450 million now. Prepares us for the upcoming change of rules. Will help liquidity. Two fingers up to anyone who says he has lost interest.

[The Fosse Way]

Could use some of those hundreds of millions of pounds sloshing around to appoint some people who know what they're doing to run the football operations.

[Stuntman_Mike]

4 minutes ago, HankMarvin said:

The last time 

 

 

Their conversion into equity serves to strengthen the Club’s balance sheet, reduce its interest costs, and provide further evidence of King Power International’s commitment to supporting the Club’s long-term sustainability."

Srivaddhanaprabha's gesture is the second of its kind since the family took control of the club back in August 2010. It follows the lead of his late father, Vichai, who tragically died in a helicopter crash that claimed the lives of two other passengers and the pilots outside of the King Power Stadium in 2018.

Surely that last line is some kind of toxic/manipulative behaviour?

 

That reads to me that they're actually using the disaster to get people to fall back in line and stop questioning their decisions 

[Footballwipe]

Like when an abusive husband buys a Givenchy handbag.

 

All is forgiven, what was wrong with them in the first place?

[HankMarvin]

2 minutes ago, MPH said:

I’m not sure how this benefits the club in this transfer window…

 

other than the money allocated for loan repayments can now be used for a transfer, maybe?

 

 

we’re probably about to sign someone but I wouldn’t expect several big signings from this..

Last time the 200m cut net interest by a 3rd saving 7m for that season 

[MPH]

Just now, The Fosse Way said:

Could use some of those hundreds of millions of pounds sloshing around to appoint some people who know what they're doing to run the football operations.

I think this press release only indicates that they are more concerned about their reputation than actually efficiently running the club.

 

everyone loves someone wearing a cape flying in to save the day..

[coolhandfox]

26 minutes ago, UniFox21 said:

Doubt it. Does PSR take debt into account to the owner, thought it was simply income and expenditure on transfers and football related costs 

Interest on debts is included in the PSR calculation, so anything that reduces it is positive.

[urban.spaceman]

28 minutes ago, StanSP said:

Further proof he's here for the long term. 

 

Maybe he's about to pay Rudkin off

I've heard he's planning a big financial reward for passing 85,000 posts in FT. 

[Corky]

No thumbs up picture?

[HankMarvin]

4 minutes ago, Stuntman_Mike said:

Surely that last line is some kind of toxic/manipulative behaviour?

 

That reads to me that they're actually using the disaster to get people to fall back in line and stop questioning their decisions 

It’s an old article from the media 

not from LCFC

[Stuntman_Mike]

2 minutes ago, HankMarvin said:

It’s an old article from the media 

not from LCFC

Sorry, I thought that was a direct quote from the statement released today 

[davieG]

Leicester City Football Club today announces two new issues of shares to King Power International and Aiyawatt Srivaddhanaprabha, relieving the Club of a combined total of £124m of debt to its parent company and owner.

The share allotments, filed with Companies House this week, capitalise previous loans from KPI and Khun Top which have supported the Club’s recent development. The move strengthens the Club’s balance sheet, reduces interest costs and relieves the Club of all remaining shareholder loans.

This latest debt-to-equity conversion takes the Srivaddhanaprabha family’s overall investment during its ownership of Leicester City to over £420m. The Club remains grateful for the family’s unwavering support and for the long-term security they continue to provide.

[Gamble92]

"The Club remains grateful for the family’s unwavering support and for the long-term security they continue to provide"

 

Just a shame that because you continue to do absolutely **** all about Jon Rudkin and Susan Whelan I couldn't feel any less secure about the clubs future. In fact if you asked me now all I can see is relegation followed by relegation to League one and you ****ing off. 

 

 

[Aleksz]

Yeah, fantastic, fair play 

 

But anyone with a brain can see right through the timing of that announcement. Propaganda at its finest.