King Power: A Tale of Rise and Ruin

[HankMarvin]

https://www.thesun.co.uk/sport/35531625/leicester-city-king-power-financial-thailand/

 

WHAT THE FOX 

Leicester City’s future shrouded in doubt with Thai owners facing total business collapse

[Quorndon_Fox]

Well can’t be worse than last season…

 

ahh ffuuu……

[1972 Fox]

2 hours ago, StanSP said:

How long before we stop paying players and staff... 

I'm all for stopping paying the players and any executives/board members.

[mozartfox]

8 hours ago, VLC86 said:

Rather than make broad swipes at anyone with an opposition opinion, tell us why Top is doing a good job in the 2 businesses he is in charge of.

I did not actually say he was doing a good job did I??  Just made a reference that he was potentially being blamed for everything that is wrong with the Club - including external matters beyond his control.  

[splinterdream]

Tops strategy might be to get us up then sell

[cropstonfox]

Top and strategy  don't belong in the same sentence! 

[Grebfromgrebland]

I thought king power don't own the club anymore?

[Foxin_Mad]

20 minutes ago, splinterdream said:

Tops strategy might be to get us up then sell

I think he is hoping we go back up, but with every cluster**** move the useless bellends make it become clearer and clearer the only way is down for this club whilst the same incompetent halfwit muppets remain in power 

[splinterdream]

Just now, Foxin_Mad said:

I think he is hoping we go back up, but with every cluster**** move the useless bellends make it become clearer and clearer the only way is down for this club whilst the same incompetent halfwit muppets remain in power 

I mention the point because perhaps whilst we"re debating long term strategy, Tops strategy might be more short term which will could influence the decisions made on manager situation and transfer policy 

[VLC86]

4 minutes ago, splinterdream said:

I mention the point because perhaps whilst we"re debating long term strategy, Tops strategy might be more short term which will could influence the decisions made on manager situation and transfer policy 

I think as a minimum, we are making them decisions to go up and take the money and run which I could understand more if we hadn’t have absolutely wasted the best part of £60m last summer.

 

Being a Premier League club is obviously more attractive to a buyer but making us more sustainable all round would also.

[K789]

23 minutes ago, Grebfromgrebland said:

I thought king power don't own the club anymore?

They don't, just top

[splinterdream]

2 minutes ago, VLC86 said:

I think as a minimum, we are making them decisions to go up and take the money and run which I could understand more if we hadn’t have absolutely wasted the best part of £60m last summer.

 

Being a Premier League club is obviously more attractive to a buyer but making us more sustainable all round would also.

i guess if you employ a manager that impresses with his powerpoint presentation, and they sell a strategy, you either buy into it or you dont, and they bought into it. The problem Top has is it seems he doesn't have enough football people around him. We did go cheap with our transfer policy last summer compared to the other 2 but they failed also, worse than us infact. 

Last season all boils down to Cooper for me, I knew he was wrong from the start, and we all know who wanted Cooper.

[HankMarvin]

29 minutes ago, Grebfromgrebland said:

I thought king power don't own the club anymore?

King power international company ltd

comprised of 5 family members top being the major share holder with 55% stake 

[VLC86]

9 minutes ago, splinterdream said:

i guess if you employ a manager that impresses with his powerpoint presentation, and they sell a strategy, you either buy into it or you dont, and they bought into it. The problem Top has is it seems he doesn't have enough football people around him. We did go cheap with our transfer policy last summer compared to the other 2 but they failed also, worse than us infact. 

Last season all boils down to Cooper for me, I knew he was wrong from the start, and we all know who wanted Cooper.

The thing is, did we want Cooper because of what I said- we were going to just take the Prem money and run? Then the visions have become misaligned and someone has authorised some spending? Either way, it doesn’t scream success does it.

[HankMarvin]

3 minutes ago, VLC86 said:

The thing is, did we want Cooper because of what I said- we were going to just take the Prem money and run? Then the visions have become misaligned and someone has authorised some spending? Either way, it doesn’t scream success does it.

If they had plans to do that, they might of gone for someone a bit better than a bloke with one 1 win in his last 13

[splinterdream]

6 minutes ago, HankMarvin said:

If they had plans to do that, they might of gone for someone a bit better than a bloke with one 1 win in his last 13

Everything points to it's a rudkin/top team making impulsive decisions. In a way Enzo was a big gamble, but supposedly the decision was made with someone whispering in their ear, and they got lucky. They seem to be easily swayed and make multi million pound decisions without due diligence. I'm not sure we've been run decently since Pearson/Shakey/Walsh and the coaches and staff that were with them

[SilverFox]

2 hours ago, coolhandfox said:

We aren't owned.by KP, we are owned by Top.

And his wealth derives from KP.  

[Jon the Hat]

15 hours ago, 5waller5 said:

I agree, It’s a tricky bump in the road for his business for sure, but any competent CEO evolves the business to cope, maximises revenues from the remaining footfall, cuts costs, finds new markets etc etc.

 

The KP “leadership” carry on where Vichai left them and hope that things improve without any activity on their part.
 

Their inertia is evident here and in Thailand, and seems typical of a lot of inherited successful businesses that unfortunately eventually fail through lack of change

You can also renegotiate contracts with your main partner, the owner of the airports, who are taking a huge cut of your profits.  Anyone know if they have done that?

[Lambert09]

It’s all going to end in the tears we feared when we first got bought. But what a ride it’s been my friends! 
 

 

[Jon the Hat]

11 minutes ago, Lambert09 said:

It’s all going to end in the tears we feared when we first got bought. But what a ride it’s been my friends! 

It will no doubt end with either dodgy Middle Eastern oil money or dickhead American financiers.

[Sly]

The latest set of full accounts indicate that “The club continues to receive exceptionally strong support from King Power International (KPI) and the Srivaddhanaprabha family.

 

The going concern section of the accounts alluded to our cashflow requirements being reliant on external banks, player trading, investment from the holding company or King Power International.

 

K Power Holdings Companies Limited actually own the stadium and the club pay them as part of a “Hire Purchase agreement”.

 

The accounts signed off by Susan Whelan in December 2024 actually state that our ultimate parent company and controlling company is King Power International Limited. It might be Top in name, however it’s ultimately King Power.
 

The holding company of King Power is V&A Holdings Company. 

 

Of which the owners of V&A are the Srivaddhanaprabha family.

 

It was approved to allocate a further 116,000,000 shares on the 15th April at £1 each. Therefore we can raise further cash if required, or it allows additional investment.
 

They’ve given themselves a tool here potentially in case of financial emergency and the family need to sell.
 

Whilst King Power don’t own us, we are intrinsically linked, as Top way need to sell with his left hand, to find with his right. the generation of shares, actually allows this (or player purchases, stadium building). 

[Sly]

In summary,

 

We are in fact, still owned by King Power.
 

We are also up to our eyeballs in debt to them and the bank. 
 

We’ve given ourselves sleeve for investment. 

[Quorndon_Fox]

Simple equation here.

 

We are heavily dependent on king power as a financier, landlord, etc

 

If they go under our assets and debts will be chased by administrators. This means pay up time.

 

The club might be in Tops name but I don’t doubt he and the family will also have assets tied to king power / purchased against.

 

We have depended on them to cover our losses which they have done for many years. If they have no money we are running at a loss of millions of pounds each year with debts none of us could imagine trying to pay back.

 

Without someone to finance that we are in effect insolvent. 
 

This is genuinely a really really bad situation and makes any of the on-field stuff look like child’s play.

[Claudio Fannieri]

It is deeply deeply concerning, in the championship with greatly reduced revenue, we have borrowed from Macquarie Bank on future earnings and now owners main business is in trouble, the only hope is that someone see’s an opportunity for a quick deal but what valuation do Top and KP place on the club. 
 

Be careful what we wish for is what we have been repeatedly told, how much worse does it have to get for people to realise. We are potentially the next Reading, Sheffield Wednesday. What an absolute sorry mess. 

[VLC86]

1 hour ago, Sly said:

In summary,

 

We are in fact, still owned by King Power.
 

We are also up to our eyeballs in debt to them and the bank. 
 

We’ve given ourselves sleeve for investment. 

Intrinsically linked I completely agree, I wondered if Top no longer being the KP CEO and officially not being owned by Top meant it was either him pumping the money in personally or we didn’t get it.

 

21 minutes ago, Claudio Fannieri said:

It is deeply deeply concerning, in the championship with greatly reduced revenue, we have borrowed from Macquarie Bank on future earnings and now owners main business is in trouble, the only hope is that someone see’s an opportunity for a quick deal but what valuation do Top and KP place on the club. 
 

Be careful what we wish for is what we have been repeatedly told, how much worse does it have to get for people to realise. We are potentially the next Reading, Sheffield Wednesday. What an absolute sorry mess. 

We aren’t exactly going to be an attractive purchase are we? These Macquary loans will be what buries us.