Macquarie Loan for Parachute Payments Rolled Over

[CosbehFox]

Well that’s obvious isn’t it? 
 

We’ve agreed four separate loans in this season alone and extended an existing loan twice. 
 

Peanuts for outgoing transfers. 
 

So the money has to be servicing the day to day running. 
 

We’ve pushed money forward, so what pays for next season then ? They aren’t many assets left and the parachute payment money has been milked 

Edited 14 January by CosbehFox

[Dan]

1 hour ago, Wink84 said:

We really need to stop kicking the can down the road.

 

I understand there's only so much we can do right now given what's already happened. We have to hope that there's been some serious lessons learnt behind the scenes, and develop sustainable ways of running a football club. 

 

Rather than using the youth prospects coming through to improve us, we'll end up developing them to sell to recover from this shit for still a few years I feel. 

 

We really could go on to have another 10 years stint in the championship.

Optimistic.

[Claudio Fannieri]

It’s definitely very very concerning, especially when you add up everything that went on since the summer, over £50m of transfer fees recouped yet our only incoming business was loans and frees. Marti paying his own compo, the delaying of the early payment of Christmas salaries, the ‘mix up’ regards the stewards food voucher. 
 

And now this and it all points to significant cash flow issues. 

[Terraloon]

14 minutes ago, The Year Of The Fox said:

Maguire states it’s likely because the owner doesn’t want to chuck in any more cash 

Doesn’t want to might be right, can’t might be another. 

 

We can’t know for sure whether or all of the facility has been drawn down but any notes to the 24/25 accounts when published will give us a hint if not a full explanation 

 

Irrespective it can’t be viewed as anything else other than concerning 
 

 

[FoxesTez]

3 hours ago, AjcW said:

Finley Vardy will be 13 by then, would make him the youngest starting striker in the national league but still.... 

Our fans seem to be supportive of nepo babies who haven’t inherited their father’s skill set, so this could work. 

[jayfox26]

The Top sympathisers will be saying that boycotts are dwindling attendances are the reason why we've no money. 

[CosbehFox]

8 minutes ago, jayfox26 said:

The Top sympathisers will be saying that boycotts are dwindling attendances are the reason why we've no money. 

Their argument is 'we've always done this' 

 

Yeah we have always done this but we'd normally sign players with the money and have the security of being a PL team at the same time. 

[Pliskin]

Top doesn’t put cash into the club anyway does he? As far as I’m aware he never has. He’s moved money around but he’s doesn’t inject money into the club does he? 

[VLC86]

3 minutes ago, Pliskin said:

Top doesn’t put cash into the club anyway does he? As far as I’m aware he never has. He’s moved money around but he’s doesn’t inject money into the club does he? 

Yeah that’s right, and this is likely one of the reasons why KP removed his influence, to stop him shifting money from them to us with promises of getting it back later.

[CrazyKopCorner]

4 hours ago, urban.spaceman said:

... you'll never sing that

Isn’t it …… you made us sing that?

[Corky]

10 minutes ago, CosbehFox said:

Their argument is 'we've always done this' 

 

Yeah we have always done this but we'd normally sign players with the money and have the security of being a PL team at the same time. 

For nearly a decade, from Kante to Dewsbury-Hall, we had assets we could sell for big money, often far more than one at a time. There was a guarantee of a large transfer fee coming in. Now we barely have a sellable asset with limited scope for bringing in replacements.

 

We were relegated at precisely the wrong time in 2023 with financial rules tightening. The best recruiters are long gone and we are starting again probably behind where these owners took over.

 

We are now in fluke territory where we find a manager capable of getting promoted and keeping us up with an inability to spend money and the threat of losing bright prospects increasing all the time. And we saw with Maresca that they won't stick around. It is grim.

[ParkerPen]

9 minutes ago, Corky said:

For nearly a decade, from Kante to Dewsbury-Hall, we had assets we could sell for big money, often far more than one at a time. There was a guarantee of a large transfer fee coming in. Now we barely have a sellable asset with limited scope for bringing in replacements.

 

We were relegated at precisely the wrong time in 2023 with financial rules tightening. The best recruiters are long gone and we are starting again probably behind where these owners took over.

 

We are now in fluke territory where we find a manager capable of getting promoted and keeping us up with an inability to spend money and the threat of losing bright prospects increasing all the time. And we saw with Maresca that they won't stick around. It is grim.

yeah but no VAR

[PAULCFC]

So in Laymans terms,we have taken out loans that we/maynot be able to repay? Like buying a new car on the tick when you have been threatened with redundancy?

[Pliskin]

Stand by my opinion we will end up in administration. Like I said above, it was my understanding Top didn’t put money into the club anyway, but, I do believe King Power as a group are distancing themselves from the club, mainly due to their own problems. But I can see us tying ourselves in knots with these loans. 
 

I certainly don’t see us doing any transfer business this season, and it could spill into next, unless we get a couple of big sales….

 

The writings on the wall, Top’s position has been untenable for some time, but more so than ever is it now. Things are only going to get worse and worse, and the only way we will be rid of Top is administration, and it simply can’t get to that stage because we will be right up shit creek. 
 

Other than some academy players, I don’t think there’s anything remotely positive about this football club at the moment. We’re treading water in tar……

[Nolucklcfc]

13 minutes ago, PAULCFC said:

So in Laymans terms,we have taken out loans that we/maynot be able to repay? Like buying a new car on the tick when you have been threatened with redundancy?

It’s borrowed against future parachute payments I think, so it’ll be paid but it’s how long we can keep doing it … 

[Ric Flair]

Still stand by my statement we'll be borderline bust within 18 months. 

[murphy]

I hate how the modern games requires you to be a bloomin accountant to follow it.   The romance.... 

[HankMarvin]

8 minutes ago, Nolucklcfc said:

It’s borrowed against future parachute payments I think, so it’ll be paid but it’s how long we can keep doing it … 

Not long as there are only 2 parachute payments should we stay in the league.

So if the cash is utilised prematurely, and not for the second season then there will have to be another substantial source of income to assist in the 2nd season. 

[HankMarvin]

On a side note just saw this pop up

 

 

Edited 14 January by HankMarvin

[Angus Scott]

We are obviously in massive financial trouble & must be losing money hand over fist on a daily basis. The massive wage bill is killing us & June 30th can't come soon enough, that's assuming we are not going to give any of the out of contract players a new deal, something I'm not confident on with the idiots in charge & the precedent has already been set with the ludicrous decision to give the useless Thomas a new deal.

 

Whilst our outgoings are still massive, our income must be dropping like a stone. Hospitality sales are virtually non-existant, We must be selling very few match tickets as gates are dropping at a rapid rate, which in turn means less income from the shop, concourse etc. & the general lack of interest in the Club.

 

We really are back to where we were in the first decade of the 2000's & I feel this will not end well.

 

Just to think that in May 2022 we were in a European semi-final with probably the best squad of players we've ever had & yet the same people who have overseen this horrendous fall from grace are still in charge

 

 

[AjcW]

11 minutes ago, HankMarvin said:

On a side note just saw this pop up

 

 

It’s not our plane. Was done as part of the initial Air Asia sponsorship way back when. It’s there’s. They’ll probably get it re-liveried soon  

[Tuna]

Are we basically using pay day loans to survive as a business?

[Silebyfox_89]

23 minutes ago, Ric Flair said:

Still stand by my statement we'll be borderline bust within 18 months. 

Looking forward to the "Can't pay? We'll take it away" lads issuing the high court writ to Top and Rudkin through the letterbox on CH5.

[Tuna]

28 minutes ago, Pliskin said:

Stand by my opinion we will end up in administration. Like I said above, it was my understanding Top didn’t put money into the club anyway, but, I do believe King Power as a group are distancing themselves from the club, mainly due to their own problems. But I can see us tying ourselves in knots with these loans. 
 

I certainly don’t see us doing any transfer business this season, and it could spill into next, unless we get a couple of big sales….

 

The writings on the wall, Top’s position has been untenable for some time, but more so than ever is it now. Things are only going to get worse and worse, and the only way we will be rid of Top is administration, and it simply can’t get to that stage because we will be right up shit creek. 
 

Other than some academy players, I don’t think there’s anything remotely positive about this football club at the moment. We’re treading water in tar……

Admin may be the only way we get rid of king power sadly

[Mickyblueeyes]

4 hours ago, Tommy G said:

More alarming is the FD can't get his act together to do the confirmation statement - my guess is due to the new gov.uk one log in is causing chaos - because all directors now have to have their own unique submission reference, I presume Top and Apichet haven't been checking their emails 

 

They will be getting a First Gazette notice soon.

It really isn’t acceptable is it. It’s not a complex 10-14 company structure with multiple deadlines, filings etc. it’s shameful. All three registered directors still awaiting ID verification too.