What's going on at Leicester

[enmac]

Just seen this video about where we are financially. Alarming. Apologies if it's been posted before.

 

[jayfox26]

Its been posted before. But in answer to the question, what's going on is that we are fcked both on and off the pitch, have a useless owner and board, a group of uninterested, overpaid players, and a fan group divided.

 

Basically, it will be a miracle if we are not in administration within the next 6 months or so. 

 

But other than that, we're doing great. 

Edited 19 February by jayfox26

[cruzFOX]

YouTube is flooded now with every tom, dick and harry doing a podcast or episode on ‘what’s going on at Leicester?”

it’s like the world has finally woken up to the fact we are in deep trouble.

Edited 19 February by cruzFOX

[ALC Fox]

Haven't seen it before with all the myriad threads that keep cropping up so thanks for that.

 

Biggest takeaway being that we may not have a club in 18 months if we're relegated to League One and can't get back at the first time of asking.

 

The training ground is a huge millstone around our neck and the current running costs of the club before wages are considered are roughly double the revenue you get in League One.

 

We wouldn't be sustainable as a club and therefore no buyer would be interested.

 

King Power is relatively powerless to sort ourselves out because they effectively went into administration in Thailand last year and have to give a proportion of their profits away to the Thai government.

 

If by some miracle we stay up this season, for the love of all that is precious in this world, Top, sell up mate.

 

Thanks for the Premier League title, thanks for the Champions League and other European campaigns, thanks for the FA Cup, but please don't put us out of existence.

 

If we did, sure, I'd follow a phoenix club revival playing on Vicky Park, Abbey Park or temporarily ground sharing at Oadby, Hinckley, Coalville or Market Harborough. But I really don't want to.

Edited 19 February by ALC Fox

[LCFCJohn]

I am one who believes we shouldn’t have to talk about financials and we should be able

to just follow the football.

 

However, it was an interesting talk. The comments towards the end about the independent regulator I agree with. There should be a restriction on percentage of wages to revenue as going up to what we do was so so irresponsible. 
 

It is also clear that even if we stay up, we will not likely be seeing a thing called transfer fees spent on incomings for a number of years. Based on the finances, spending transfer fees can’t really be justified. It will likely be freebies and loans. 
 

I.e we no promote.

[Sly]

King Power aren’t in administration as I’ve seen mentioned a few times across various topics.
 

They did come under financial stress so to speak due to fall in tourist numbers, so they’ve renegotiated the airport contracts, shut down under performing ships etc, as they were unsustainable. 
 

If anything they’re reacting to the market like any sensible business would, albeit rather late! 
 

A sign they’re really wobbling would be a court petition gets filled in Thailand, citing the need for “Business Rehabilitation”. That hasn’t happened. 
 

The reality is they’re so large, with complex shell

companies, that it isn’t really black and white. Half the reason they need competent people running us, which clearly hasn’t been the case.

[Officer Doofy]

1 hour ago, LCFCJohn said:

I am one who believes we shouldn’t have to talk about financials and we should be able

to just follow the football.

 

 

Football at this level is now money and nothing more.

 

It's not the same game we all loved. You can't talk about football without mentioning it. 

[Muzzy_no7]

8 hours ago, cruzFOX said:

YouTube is flooded now with every tom, dick and harry doing a podcast or episode on ‘what’s going on at Leicester?”

it’s like the world has finally woken up to the fact we are in deep trouble.

Even GB News have covered it😂

[Foxin_Mad]

The only ones that don't know are Toppy and Jon boy. Supported by the KPFC Happy Clappers who are apparently going to back that lads, funny really as I've never heard them back anything. 

 

The solution it seems is to appeal a decision that was very lenient at best. If this decision backfires then whoever made it must be sacked with immediate effect as I would think the club needs a massive restructure in terms of staff even now but in League One in would have to probably cut staff by 75% across the club

Edited 20 February by Foxin_Mad

[RoboFox]

9 hours ago, cruzFOX said:

YouTube is flooded now with every tom, dick and harry doing a podcast or episode on ‘what’s going on at Leicester?”

it’s like the world has finally woken up to the fact we are in deep trouble.

I absolutely ****ing love it n'all. Aiyawatt and Rudkin deserve all the attention. 

 

 

[PaulW]

1 hour ago, Foxin_Mad said:

The only ones that don't know are Toppy and Jon boy. Supported by the KPFC Happy Clappers who are apparently going to back that lads, funny really as I've never heard them back anything. 

 

The solution it seems is to appeal a decision that was very lenient at best. If this decision backfires then whoever made it must be sacked with immediate effect as I would think the club needs a massive restructure in terms of staff even now but in League One in would have to probably cut staff by 75% across the club

Glad you find it funny that the majority of fans despise the toxic atmosphere that is being generated.  So called supporters actually posting on here that they hope we lose games, and believing that they hold the key to bringing about regime change, not realising that if they got their way they would have created a Club that no one would want to buy.

[Aleksz]

Might be worth setting up a thread of media/videos to post things into in one place now the wider footballing world are waking up to our demise and what's probably on the horizon - feel like that other Charlie Methven video was posted about a hundred times too.

[Guesty]

l've watched a couple of these videos/podcasts. One thing that always makes me laugh is they rarely mention that we couldn't even send a fax on time for a £22 million player.

 

That's how badly we've been run (and how long). People forget, or don't even know, cause there's so much else miss-management..

[Gamble92]

[Foxin_Mad]

8 minutes ago, PaulW said:

Glad you find it funny that the majority of fans despise the toxic atmosphere that is being generated.  So called supporters actually posting on here that they hope we lose games, and believing that they hold the key to bringing about regime change, not realising that if they got their way they would have created a Club that no one would want to buy.

If they despise the 'toxic' atmosphere (which is still one step up on no atmosphere) so much why don't they do something to change it instead of sitting in silence munching their M&S packed lunch with a Horlicks? mustering the occasional clap or look of distain for someone who dares to criticise the KP regime. 

 

There is certain things I don't agree with but then there is double standards and complicit behaviour amongst large sections of our fan base who are utterly culpable, in the way that they sit in complete silence and apathy and let this crap continue.

 

The club is probably already unsellable,  its technically insolvent, huge fixed costs, falling revenue. The same continued failed senior management group, people shouting up about the abysmal management and the absolutely crap players they have signed on long expensive contracts. Its not 'toxic' fans that are the problem, its the absolute ineptitude this club has suffered for 5 years, aided and abetted by those who sit there and let them do it, clapping calmly. 

[MPH]

No, the specific 

Profit and Sustainability Rules (PSR) used by the Premier League and Championship do not apply to EFL League One. 

Instead, clubs in League One (and League Two) operate under a separate set of financial regulations. Here are the key details: 

Entertainment and Sports Law Journal

• Salary Cap Management Protocol (SCMP): League One clubs must adhere to SCMP, which is a system that ties player spending directly to a percentage of the club's turnover.
• Owner Investment Restrictions: Recent changes (as of late 2024/2025) have introduced tighter controls on owner investments in League One, restricting how much of an owner's cash can be used for player spending.
• Purpose: While PSR in higher leagues focuses on limiting overall losses over a 3-year period, League One’s rules are designed to ensure clubs operate within their means based on income, rather than relying on unsustainable owner funding.
• Relegated Clubs: If a club is relegated from the Championship to League One, they may still have to account for Championship-level financial regulations for the monitoring period during which they were in the second tier. 
  BBC +4

In short, League One uses SCMP/turnover-based rules, not the PSR loss-limit rules. 

BBC +1

[MPH]

 

what I take from that is, if we are relegated, it’s fine to make substantial losses as long as it doesn’t come from over spending on players? I guess it would basically mean we will be relying on freebies and the kids but we can rundown some big contracts without getting into issues with the regulators..

Edited 20 February by MPH

[Stadt]

1 minute ago, MPH said:

 

what I take from that is, if we are relegated, it’s fine to make substantial losses as long as it doesn’t come from over spending?

From a regulatory point of view that's maybe true but previously the losses were fine because we always had cash at hand. In League One our costs will be exorbitant, big-ish (and empty-ish) stadium, two training grounds, big headcount and a monster wage bill, even sans the c. 10 OoC players. We're likely to default on payments to suppliers somewhere with a lack of cash if we can't cut the wage bill by a monumental amount.

[Trav Le Bleu]

4 hours ago, Sly said:

King Power aren’t in administration as I’ve seen mentioned a few times across various topics.
 

They did come under financial stress so to speak due to fall in tourist numbers, so they’ve renegotiated the airport contracts, shut down under performing ships etc, as they were unsustainable. 
 

If anything they’re reacting to the market like any sensible business would, albeit rather late! 
 

A sign they’re really wobbling would be a court petition gets filled in Thailand, citing the need for “Business Rehabilitation”. That hasn’t happened. 
 

The reality is they’re so large, with complex shell

companies, that it isn’t really black and white. Half the reason they need competent people running us, which clearly hasn’t been the case.

Whilst thinks aren't great, I think the worst case doommongerimg is highly unlikely and probably doesn't help. Some people just like to spread their misery.

[Stadt]

1 minute ago, Trav Le Bleu said:

Whilst thinks aren't great, I think the worst case doommongerimg is highly unlikely and probably doesn't help. Some people just like to spread their misery.

Would you have pooh-pooed the idea of relegation at the end of 21/22 as doom mongering? Or getting relegated twice in 3 seasons or potentially 3 in four seasons?

 

We can't rule out the worst case scenario because we it keeps happening.

[woznotwos]

Lets hope the new manager galvanises the players and gets some kind of momentum going that can keep us up. Then next year we can try to move on from this awful season. 

[LCFCJohn]

1 hour ago, PaulW said:

Glad you find it funny that the majority of fans despise the toxic atmosphere that is being generated.  So called supporters actually posting on here that they hope we lose games, and believing that they hold the key to bringing about regime change, not realising that if they got their way they would have created a Club that no one would want to buy.

Anyone saying they want us to go down are a tiny minority and either doing so out of emotions or a deep belief that short term pain for a brighter long term future. Is the latter any more of a daft opinion than thinking Aiyawatt will turn things around? Probably not.

 

The majority of people at this point probably both want us to stay up and agree Aiyawatt is destroying the club. Within this, some of still reluctant to shout for a change of ownership or worry this will distract from the job at hand to stay up. 
 

As for the toxic atmosphere, and I have challenged you on this before, do not try and blame this on people wanting the change. Toxicity comes as much from the the apathy around the club. How many of those who claim to ‘back the lads’ will groan when things aren’t going right? I’d bet many do. Booing players during the game or substitutions, or jeering is too far but again, I bet much of that comes from those who bang on about backing the lads over social media. 
 

Why do you think the club is essentially insolvent in how it is run? You don’t think the current owner has anything to do with that? If the fans calling for change got their way, we wouldn’t be pissing money up the wall on crap and would have a sustainable wage structure and would be a more solvent and attractive club. Those supporting this regime are the ones contributing to the club being unattractive through enablement.

[cropstonfox]

1 hour ago, Foxin_Mad said:

If they despise the 'toxic' atmosphere (which is still one step up on no atmosphere) so much why don't they do something to change it instead of sitting in silence munching their M&S packed lunch with a Horlicks? mustering the occasional clap or look of distain for someone who dares to criticise the KP regime. 

 

There is certain things I don't agree with but then there is double standards and complicit behaviour amongst large sections of our fan base who are utterly culpable, in the way that they sit in complete silence and apathy and let this crap continue.

 

The club is probably already unsellable,  its technically insolvent, huge fixed costs, falling revenue. The same continued failed senior management group, people shouting up about the abysmal management and the absolutely crap players they have signed on long expensive contracts. Its not 'toxic' fans that are the problem, its the absolute ineptitude this club has suffered for 5 years, aided and abetted by those who sit there and let them do it, clapping calmly. 

No happy clappers near me in West Stand. 

Is it a Kop thing or Family Stand.

Most near me have grumbled about KP and Rogers even before the FA Cup win.

Where are these happy clappers are they just Facebook warriors who don't actually

attend matches?

[Babylon]

1 hour ago, Stadt said:

From a regulatory point of view that's maybe true but previously the losses were fine because we always had cash at hand. In League One our costs will be exorbitant, big-ish (and empty-ish) stadium, two training grounds, big headcount and a monster wage bill, even sans the c. 10 OoC players. We're likely to default on payments to suppliers somewhere with a lack of cash if we can't cut the wage bill by a monumental amount.

We will still have two years remaining on parachute payments, don't forget. 

 

Year 2: around £30m to £35m

Year 3: around £15m

 

 

[Heathrow fox]

2 minutes ago, Babylon said:

We will still have two years remaining on parachute payments, don't forget. 

 

Year 2: around £30m to £35m

Year 3: around £15m

 

 

Just the one I’m afraid