'I Want People To Be Closer' - Khun Top Speaks

[CornwallFox]

54 minutes ago, CosbehFox said:

I don't think we or the wider LCFC public know how quite bad the lack of cash is. 

 

I just looked up the accounts due to the two months late confirmation statement. 

 

Traditionally we've always used the Aussie bank loans as a form of cashflow supply to sign players but it's clear it's no longer being used for that. Over last year, we registered five charges. We have agreed loans on Justin, Cannon, McAteer, Hermansen and PL monies received. Now the club clearly felt the need for urgent cash yet our transfer dealings in this period have been near minimal. 

 

What happens when there are no transfer deals to do this from? What happens when the cash runs out again? 

We have really higher wages ATM, presumably they'll look to offload high earners to reduce the need to pool transfer fees into single years moving forward

[Sol thewall Bamba]

30 minutes ago, CornwallFox said:

We have really higher wages ATM, presumably they'll look to offload high earners to reduce the need to pool transfer fees into single years moving forward

But where does the money come from to repay the loans that King Power took out in the club's name? Just reducing the wage bill doesn't solve that.

[AjcW]

9 minutes ago, Sol thewall Bamba said:

But where does the money come from to repay the loans that King Power took out in the club's name? Just reducing the wage bill doesn't solve that.

They're secured against the training ground and stadium if future PL/Parachute money doesn't come in, so it's all good. Don't worry  

[filbertway]

At this point I'd find it hilarious if they wanted to call in the debt in the form of sponsoring our stadium, shirts and training ground for free for x amount of years. 

 

King power literally being scrubbed from the stadium would be poetic.

[Chrysalis]

44 minutes ago, filbertway said:

At this point I'd find it hilarious if they wanted to call in the debt in the form of sponsoring our stadium, shirts and training ground for free for x amount of years. 

 

King power literally being scrubbed from the stadium would be poetic.

Remember how Liverpool got their current owners, the bank financing the club literally threw the old owners out.

[Jon the Hat]

3 hours ago, CosbehFox said:

I don't think we or the wider LCFC public know how quite bad the lack of cash is. 

 

I just looked up the accounts due to the two months late confirmation statement. 

 

Traditionally we've always used the Aussie bank loans as a form of cashflow supply to sign players but it's clear it's no longer being used for that. Over last year, we registered five charges. We have agreed loans on Justin, Cannon, McAteer, Hermansen and PL monies received. Now the club clearly felt the need for urgent cash yet our transfer dealings in this period have been near minimal. 

 

What happens when there are no transfer deals to do this from? What happens when the cash runs out again? 

As you say, loans against future income is fine as long as the future income keeps coming.  They are obviously spending it on something, else no point paying the interest and fees to bring forward the cash.

[AjcW]

5 minutes ago, Jon the Hat said:

As you say, loans against future income is fine as long as the future income keeps coming.  They are obviously spending it on something, else no point paying the interest and fees to bring forward the cash.

Rumour has it the Macquarie loans favourite song is "Leaving on a jet plane" by Jon Denver... 

[MPH]

Maybe if he’s not in England he can’t get the collections man coming after him

[CornwallFox]

2 hours ago, Sol thewall Bamba said:

But where does the money come from to repay the loans that King Power took out in the club's name? Just reducing the wage bill doesn't solve that.

They're secured against guaranteed income. They were secured against future transfer fee installments, for example. So if we sold a player for £15m, that would typically be paid over a number of years in installments. The club took the loan to get the whole fee up front, with the installments paying it off.

[AjcW]

1 minute ago, CornwallFox said:

They're secured against guaranteed income. They were secured against future transfer fee installments, for example. So if we sold a player for £15m, that would typically be paid over a number of years in installments. The club took the loan to get the whole fee up front, with the installments paying it off.

That's 3 out of about 8 of the loans. The rest of against non guaranteed TV money

[CornwallFox]

4 minutes ago, AjcW said:

That's 3 out of about 8 of the loans. The rest of against non guaranteed TV money

They were borrowed so that parachute payments would pay them off weren't they? 

And TV money in years where we borrowed against the TV money.

[AjcW]

18 minutes ago, CornwallFox said:

They were borrowed so that parachute payments would pay them off weren't they? 

And TV money in years where we borrowed against the TV money.

Parachute will pay SOME off, the thinking would have been promotion almost immediately to pay off the rest.

 

If we stay down for 3 years, then essentially we're going to start having to make some hefty loan repayments and very high interest.

[Globalfox]

49 minutes ago, CornwallFox said:

They were borrowed so that parachute payments would pay them off weren't they? 

And TV money in years where we borrowed against the TV money.

Charges are

money owed by West Ham so owed by them

money owed by Sheffield Utd so owed by them

money owed by Leeds so owed by them

money owed by Ipswich so owed by them

money owed by Chelsea so owed by them

money owed by the EPL parachute payments owed by them

money owed from EPL central fund ( not basic award funds)

 

these are all debts by others who could not pay cash and pay over time that we took cash up front for 6% fee. This covers expensive EPL contracts when revenue drops in the EFL. That is exactly why parachute payments exist.

 

then there is a floating charge unspecified amount that is like any overdraft facility.

 

as stated before football cash flow is in arrears so we finance. We can then pay on time especially people such as HMRC which is what tends to sink clubs. If we continue to reduce the wage bill we will be fine. More big earners vestergaard,Choudray, winks etc need to go.

 

don’t take this as defending management just stating it’s not all doom and gloom. What really needs to happen is a rule you must pay the lot immediately. Chelsea owe us 10 million for a player they no longer own. It’s a stupid business model that could collapse if TV money fell off.

 

[The Year Of The Fox]

https://x.com/CrapGolfer13/status/2011491646832328991

[5waller5]

2 hours ago, Globalfox said:

Charges are

money owed by West Ham so owed by them

money owed by Sheffield Utd so owed by them

money owed by Leeds so owed by them

money owed by Ipswich so owed by them

money owed by Chelsea so owed by them

money owed by the EPL parachute payments owed by them

money owed from EPL central fund ( not basic award funds)

 

these are all debts by others who could not pay cash and pay over time that we took cash up front for 6% fee. This covers expensive EPL contracts when revenue drops in the EFL. That is exactly why parachute payments exist.

 

then there is a floating charge unspecified amount that is like any overdraft facility.

 

as stated before football cash flow is in arrears so we finance. We can then pay on time especially people such as HMRC which is what tends to sink clubs. If we continue to reduce the wage bill we will be fine. More big earners vestergaard,Choudray, winks etc need to go.

 

don’t take this as defending management just stating it’s not all doom and gloom. What really needs to happen is a rule you must pay the lot immediately. Chelsea owe us 10 million for a player they no longer own. It’s a stupid business model that could collapse if TV money fell off.

 

A sensible rule would be that you have to pay in full for a player before / as he’s sold… He’s effectively the collateral against the outstanding payments, no collateral then no ongoing credit terms 

[foxinsocks]

1 hour ago, 5waller5 said:

A sensible rule would be that you have to pay in full for a player before / as he’s sold… He’s effectively the collateral against the outstanding payments, no collateral then no ongoing credit terms 

I am keen on this... it wiukdvreduce prices abd mean we could stop prioritising debts to other clubs

[Sly]

When he said “closer”, did he mean to League 1? 

[Dan]

The loans in the first place were a red flag and a sign of playing catchup / desperation. Correct me if I'm wrong, but bet the only clubs going up this route in the top flight are the likes of West Ham.

[MPH]

24 minutes ago, Dan said:

The loans in the first place were a red flag and a sign of playing catchup / desperation. Correct me if I'm wrong, but bet the only clubs going up this route in the top flight are the likes of West Ham.

 

its AI, so it might not be real

 

AI Overview

 

 

 

Most, if not all, large Premier League clubs borrow against future income

, including significant amounts tied to future transfer payments, with figures exceeding £3 billion owed collectively by clubs for instalments; while specific numbers vary, big spenders like Manchester United, Chelsea, and Spurs have substantial debts, often facilitated by specialist lenders, as a common practice to manage massive spending. 

[CosbehFox]

1 minute ago, MPH said:

 

its AI, so it might not be real

 

 

AI Overview

 

 

 

Most, if not all, large Premier League clubs borrow against future income

, including significant amounts tied to future transfer payments, with figures exceeding £3 billion owed collectively by clubs for instalments; while specific numbers vary, big spenders like Manchester United, Chelsea, and Spurs have substantial debts, often facilitated by specialist lenders, as a common practice to manage massive spending. 

We aren’t a Premier League club. 

[CosbehFox]

2 months anniversary since this interview now. 
 

1 game attended 

 

[ACF]

12 hours ago, CosbehFox said:

I don't think we or the wider LCFC public know how quite bad the lack of cash is. 

 

I just looked up the accounts due to the two months late confirmation statement. 

 

Traditionally we've always used the Aussie bank loans as a form of cashflow supply to sign players but it's clear it's no longer being used for that. Over last year, we registered five charges. We have agreed loans on Justin, Cannon, McAteer, Hermansen and PL monies received. Now the club clearly felt the need for urgent cash yet our transfer dealings in this period have been near minimal. 

 

What happens when there are no transfer deals to do this from? What happens when the cash runs out again? 

But what were the terms on the monies we were due to receive on the four players mentioned? What if the cash they were to give us was split over a 7 year period, and quite frankly due to our relegation, no shit we have a cash flow problem.

 

You’re only looking at half the equation. Losing 6% to have the money now, versus using an overdraft facility, is the smarter option.

 

However, the smarter solution would be to have an income that matches our expenses that reduces the reliance on these types of loans.

 

 

[5waller5]

12 minutes ago, CosbehFox said:

2 months anniversary since this interview now. 
 

1 game attended 

 

Crikey that time flew!!!

 

So 1 game attended, no visible progress on Boardroom appointments, no fan engagement or anything to suggest a movement closer to the fans. 
 

He’s so inept, incompetent and clueless that he thinks that interview solved the problems

[VLC86]

3 minutes ago, 5waller5 said:

Crikey that time flew!!!

 

So 1 game attended, no visible progress on Boardroom appointments, no fan engagement or anything to suggest a movement closer to the fans. 
 

He’s so inept, incompetent and clueless that he thinks that interview solved the problems

Calm down, he’s probably spoken to the FAB.

[MPH]

1 hour ago, CosbehFox said:

We aren’t a Premier League club. 

 

did you see the post I was quoting?