Where’s the money gone?

[Stadt]

1 hour ago, Sly said:

We will sell El Khannous and Fatawu.

 

They’ll raise £40m which should stave off the pain of being non compliant next season.

 

We’ll also shift a massive amount off the wage bill when Daka, Ayew, Winks, Begovik, Ricardo, Lascelles, Marçal expire.

 

We won’t sign James.

 

Either way, whatever division we will be in, we are starting from scratch and the reliance will be building a team around the young players. Young players that in reality, whilst technically steady I’d argue are debatably not up to standard currently for the level of football we are competing at. 

We have about 10 players OOC and 3 or 4 others will leave. We’ll have to replace about half of the squad with very little money to do it. Meanwhile Thomas, Choudhury, Vestergaard, Reid, Souttar, Skipp are still contracted on big wages 

[Sly]

Just now, Stadt said:

We have about 10 players OOC and 3 or 4 others will leave. We’ll have to replace about half of the squad with very little money to do it. Meanwhile Thomas, Choudhury, Vestergaard, Reid, Souttar, Skipp are still contracted on big wages 

The sale will cover another year of Vestergaard and Reid I’d imagine.
 

Souttar should be a cheat code if he can find the firm he had at Sheffield United pre injury. 
 

No way we keep both Kristiansen and Thomas. One of them Needs to go.

[Stadt]

1 minute ago, Sly said:

The sale will cover another year of Vestergaard and Reid I’d imagine.
 

Souttar should be a cheat code if he can find the firm he had at Sheffield United pre injury. 
 

No way we keep both Kristiansen and Thomas. One of them Needs to go.

Vestergaard, Choudhury and Reid are probably on about £6m between them as an extremely low bound estimate. The wage bill might be covered with sales but the operating costs won’t be and we won’t have any money to buy 12 players 

[Tielemans63]

2 hours ago, Sly said:

Either way, whatever division we will be in, we are starting from scratch and the reliance will be building a team around the young players. Young players that in reality, whilst technically steady I’d argue are debatably not up to standard currently for the level of football we are competing at. 

Methven makes the good point that we'd likely not be able to afford the £5m+ a season it takes to run a Cat 1 academy if we were in League 1. We'd likely have to drop to Cat 2 - so logically, you'd think the quality of players coming through will drop and as you say, those we have already aren't setting the world alight, if we're being brutally honest. So even that strategy is compromised if we go down again.

[Stadt]

2 hours ago, Tielemans63 said:

those we have already aren't setting the world alight

They've been dropped into a club in free fall way ahead of schedule, they're doing fine all things considered.

 

Cat 2 is exactly that, a categorisation - if the same players are coached by the same people then the output will be very similar. In the same way Fatawu isn't a second tier standard footballer just because that's the division he happens to play in.

[filbertway]

1 hour ago, Stadt said:

They've been dropped into a club in free fall way ahead of schedule, they're doing fine all things considered.

 

Cat 2 is exactly that, a categorisation - if the same players are coached by the same people then the output will be very similar. In the same way Fatawu isn't a second tier standard footballer just because that's the division he happens to play in.

Depends if we rate our pipeline of kids to make a return on the investment.

 

If we drop to cat 2 it becomes a lot easier for teams to come in and hoover them up compared to if we're Cat 1.

 

Parents will push their kids to join the higher rated set up, whereas now we have the leverage of being able to offer the Cat 1 environment and first team football.

[Stadt]

25 minutes ago, filbertway said:

Depends if we rate our pipeline of kids to make a return on the investment.

 

If we drop to cat 2 it becomes a lot easier for teams to come in and hoover them up compared to if we're Cat 1.

 

Parents will push their kids to join the higher rated set up, whereas now we have the leverage of being able to offer the Cat 1 environment and first team football.

The parents issue is an extremely long term one, we’re not going to be affected by the intake being influenced by parents deciding for 10 years

 

[DJ Barry Hammond]

1 hour ago, Stadt said:

The parents issue is an extremely long term one, we’re not going to be affected by the intake being influenced by parents deciding for 10 years

 

That’s not true though is it - there’s parents that will actively tout their kids across academies within the 90 minute radius… and potentially move house if they need to.

[burleighfox]

On 11/02/2026 at 19:56, Dan said:

Been listening to this pod for a couple of months. Methven is very astute. Gets quite an unfair amount of stick due to the Sunderland series. Smart bloke who seems to understand football.

I'd love to have him come in as CEO but I think he'd probably see this as too big an issue to resolve!

[Silva Fox]

Just now, burleighfox said:

I'd love to have him come in as CEO but I think he'd probably see this as too big an issue to resolve!

Pretty unlikely after he called Aiyawatt an idiot! 

[burleighfox]

19 minutes ago, Silva Fox said:

Pretty unlikely after he called Aiyawatt an idiot! 

Good point 

[Stadt]

1 hour ago, DJ Barry Hammond said:

That’s not true though is it - there’s parents that will actively tout their kids across academies within the 90 minute radius… and potentially move house if they need to.

If we drop into cat 2 briefly that will have an impact in 10 years where we have a worse cohort. The original post was about the immediate short term 

[DJ Barry Hammond]

1 hour ago, Stadt said:

If we drop into cat 2 briefly that will have an impact in 10 years where we have a worse cohort. The original post was about the immediate short term 

And the reply to you pointed out that parents will pull their kids in favour of other cat 1’s if their good enough.

 

It would have an immediate impact.

[Stadt]

14 minutes ago, DJ Barry Hammond said:

And the reply to you pointed out that parents will pull their kids in favour of other cat 1’s if their good enough.

 

It would have an immediate impact.

16, 17 year olds aren’t pulling out due to a change in classification. 15 and below maybe 

[Terraloon]

On 15/02/2026 at 14:50, Paninistickers said:

The ground isn't an asset. It belongs to KP. Dunno about seagrave or Belvoir drive. 

 

Macquirie can't and won't take the club. Their repayments are guaranteed. The parachute money goes direct to them. 

 

Inter how Derby have had three takeovers by rich local businessmen over the years to save them;  Lionel Pickering. Peter Gadsby (twice). David Clowes.

 

Cov too with Doug King. 

 

We never have any. The wealthy Leicestershire businesses have often been drawn to Tigers. 

 

 

 

 

As I pointed out on another thread Macquire registered a further charge on all the clubs fixed assets in January. This was because, it seems, that another line of credit has been opened. This one isn’t based on transfer fees or parachute payments it’s effectively an overdraft. I have no idea of what the limit is or indeed if any of the sum , has  been drawn down but the charge in default allows them the ability to take control of land , stadium etc.

12 hours ago, Sly said:

We will sell El Khannous and Fatawu.

 

They’ll raise £40m which should stave off the pain of being non compliant next season.

 

We’ll also shift a massive amount off the wage bill when Daka, Ayew, Winks, Begovik, Ricardo, Lascelles, Marçal expire.

 

We won’t sign James.

 

Either way, whatever division we will be in, we are starting from scratch and the reliance will be building a team around the young players. Young players that in reality, whilst technically steady I’d argue are debatably not up to standard currently for the level of football we are competing at. 

Selling El Khannouss will need to factor in that around €13m o still to be amortised meaning if say he is sold for say €25m the profit will only be €12 m .

 

As for Fatawu again a chunk of his fee still has to be amortised circa €10 m selling him for €20 will only deliver €10 m profit add to that there would be a number of clubs holding their hands out for training compensation . There were add ins when he signed and whilst mention was made re add ons nothing was published about a % of any profit.

 My point is if £40 m is raised in fees ( which I doubt) for the two my guess  it wouldn’t  yield over £20m of profit 

[Terraloon]

31 minutes ago, Stadt said:

16, 17 year olds aren’t pulling out due to a change in classification. 15 and below maybe 

The top ones will likely leave if the pathway isn’t to  PL.

 

 

 

 

[Paninistickers]

18 minutes ago, Terraloon said:

As I pointed out on another thread Macquire registered a further charge on all the clubs fixed assets in January. This was because, it seems, that another line of credit has been opened. This one isn’t based on transfer fees or parachute payments it’s effectively an overdraft. I have no idea of what the limit is or indeed if any of the sum , has  been drawn down but the charge in default allows them the ability to take control of land , stadium etc.

Selling El Khannouss will need to factor in that around €13m o still to be amortised meaning if say he is sold for say €25m the profit will only be €12 m .

 

As for Fatawu again a chunk of his fee still has to be amortised circa €10 m selling him for €20 will only deliver €10 m profit add to that there would be a number of clubs holding their hands out for training compensation . There were add ins when he signed and whilst mention was made re add ons nothing was published about a % of any profit.

 My point is if £40 m is raised in fees ( which I doubt) for the two my guess  it wouldn’t  yield over £20m of profit 

Difference between PSR calculations tho and cash. 

 

My inference is the club is ravenous for cash. The piggy bank is long empty..

 

As for Macquarie that would be a change of MO from then. They've thus far only dealt in sure bets. Ie guaranteed income

[Stadt]

23 minutes ago, Terraloon said:

The top ones will likely leave if the pathway isn’t to  PL.

 

 

 

 

They’ve left when we’ve been in the PL anyway like Nyoni and Noubissie (sp)

[Terraloon]

34 minutes ago, Paninistickers said:

Difference between PSR calculations tho and cash. 

 

My inference is the club is ravenous for cash. The piggy bank is long empty..

 

As for Macquarie that would be a change of MO from then. They've thus far only dealt in sure bets. Ie guaranteed income

Yep the piggy bank is likely not just been emptied but smashed in case a £ was hidden away

You think that anyone that buys them will be paying for it all up front ? Ok that’s when you Macquarie come into play but as we know at considerable cost.

 

Likewise my guess is that when they were bought in it was on HP so from any feesLC receiver the club would have to  pay any balance still outstanding so maybe not the same sum accounting wise but almost certainly will amount to millions 

 

As you say it is the norm that they  on deal in sure bets but have a look at the charge they registered in January. This isn’t the first time that LC have had a line of credit with them.

 

 

I thought when you said this :

 

“They’ll raise £40m which should stave off the pain of being non compliant next season.” 
 

 you were talking about FFP compliance.

 

 

Edited 16 February by Terraloon

[Dan]

On 15/02/2026 at 09:20, Paninistickers said:

I still think the financial situation is even worse than Methven describes. 

 

There is no parachute payment to come. It goes to Macquarie. 

 

Regardless of division next season,  unless we can sell 35m (minimum) worth of playing assets, I think we are cooked. 

 

Edit to add; I wouldn't be surprised if it's why Susan Whelan left. As for next season, we will be by law wrongfully trading. Ie Knowingly unable to operate and start to miss payments to players and suppliers and HMRC. And directors are personally legally culpable. She's left possibly as there's a chance she goes to prison as CEO of a business that wrongfully trades. . 

I've just listened to this weeks podcast and there's a little segment about Leicester at the end - where they acknowledge that they completely missed this bit out. So you are spot on - it's even worse than they said it was.

[ramboacdc]

Guy did a small update video on this talking about us borrowing off parachute payment funds.

 

 

 

 

I really recognise his voice. Did the host used to work for Radio Leicester or something?

[Heathrow fox]

Have they borrowed on the back of future ticket sales? I really wouldn’t put it past them

[Chrysalis]

The idea we will sell fatawa and el kanouss, then not extend any of the high earners and on top of that rely on youth plus freebies wont happen, its simply too sensible.

 

Instead we will not give two ***** breach again, and when done for it will make another statement the penalty is too harsh, we done nothing wrong etc.

[fox_favourite]

 

This is more worrying. Anyone who thinks that getting relegated will be a good thing, it really isn't