Could we go into Administration next season?

[lgfualol]

I don’t think “no” is an answer anyone can guarantee when talking about this club. Literally anything is possible with LCFC.

[Beachyboy]

16 hours ago, Donwebbio said:

We need a real salesman to get rid of the players still under contract on huge wages.

The maximum we can spend in League 1 will be 60% of revenue which for us, top end, will be £22M. So 60% of that say £13M - £250k per week.

 

Winks (£61k), Vestergaard, (60k), Choudhury (£56k)

Skipp (50k), BDCR (£48k),  Faes (£36k), Thomas (£35k). 7 players we could play without and who are on a combined £346k per week - those alone put us way above the limit. 

 

Copilot reckons we will have a revised wage bill of £650k per week after contracts expire but before any relegation clauses kick in. Lets call it £600k per week. We need to cut our wage bill by at least a whopping £350k per week  McCarron might be able to identify younger talent that could help regenerate our squad but what about the high earners? Who is going to shift £350k of wages? Rudkin?

 

If the club go bust the players get nothing, if they get promoted the club is worth more. Out the box suggestion here could we null and void the contracts in exchange for shares in the club. If any of them stayed wouldn't that be an incentive to perform better as you don't get paid unless we do. 

[Qwerty]

7 hours ago, Paninistickers said:

Theorising. Just joining the dots. 

 

Edit; I'm not a mechanic, but when the warning lights are blinking on the dashboard, the noise from the engine is screeching, the exhaust fumes are acrid black....you know the car is in trouble. 

Thank you for clarifying.

Of course, we all know we’re in some trouble.  But your statement is so specific.  Whereas your car analogy is not.  You talk as if you are an authority on the financial situation at LCFC and KP.  
It’s quite frustrating when people speak as if they’d ITK, when in fact they’re just guessing like the rest of us.  Some people really do have inside knowledge, and it would be nice to be able to differentiate them from the speculators. 

[MattFox]

We’re a league one club with the set up of a top half premier league side

 

id say it’s 50/50 personally 

[Rob1742]

Our overhead at Seagrave puts us in a worse financial position than any of our competitors in the league. Especially when you add in our huge wage bill.

 

The issue I have is that the lack of noise coming out of the club, which leaves us asking these questions, which isn’t good. 

 

I saw today that Aylestone Park FC  put out a statement on how the future looks for them. It was a simple statement that left the community knowing the clear direction of the club. They are having a reset, lower spend on players fees, playing younger players and to expect them not competing at the top for a while.

 

Just thought if we had this same communications a few years ago, maybe the fans would have supported or accepted the decline much easier. 

 

If I bump into any opposing fans and they question our clubs position, I say I’m worried about the future as our overheads are huge and there isn’t any noise coming out of the club that could allay any fears like what the original poster asked 

[lcfc_forever]

This doesn’t seem complicated having listened to Maguire - Top either pumps more money in to support cash flow or we get new owners. He’s been reluctant to do the former recently and wanted the club to be self sufficient but that isn’t an option now. And he did a couple of years or so convert debt into equity which was a positive step. 
 

If neither happen, we’re in serious trouble. 

[cropstonfox]

3 minutes ago, lcfc_forever said:

This doesn’t seem complicated having listened to Maguire - Top either pumps more money in to support cash flow or we get new owners. He’s been reluctant to do the former recently and wanted the club to be self sufficient but that isn’t an option now. And he did a couple of years or so convert debt into equity which was a positive step. 
 

If neither happen, we’re in serious trouble. 

He wont let administration happen.Too much to lose.

 

[Ian S]

5 minutes ago, cropstonfox said:

He wont let administration happen.Too much to lose.

 

Might have no choice

[Clogger_]

5 minutes ago, cropstonfox said:

He wont let administration happen.Too much to lose.

 

But if KP pump in the necessary money, we'll get a monumental points deduction. Snookered by years of god-awful "leadership"

[cropstonfox]

1 minute ago, Clogger_ said:

But if KP pump in the necessary money, we'll get a monumental points deduction. Snookered by years of god-awful "leadership"

Tops not throwing the keys in.He knows he's got to repair the damage he's over seen and condoned. Points deduction or not he'll put us in a better place to be attractive to perspective buyers. 

[LCFCCHRIS]

Get a documentary team in. Surely you'd get a good few million to allow them to follow us in league one. Try and make it unique compared to other teams so its not just a copy of Wrexham etc (although I've not seen this so can't comment).  

 

I think netflix would be all over it, especially how we've fallen. Reality is Rudkin and co will be so scared to have anything exposed. 

Edited 3 May by LCFCCHRIS

[lcfc_forever]

1 hour ago, Clogger_ said:

But if KP pump in the necessary money, we'll get a monumental points deduction. Snookered by years of god-awful "leadership"

Maguire didn’t mention this, sure he would have if that’s the case. 
 

Will defer to @Terraloon and @ClaphamFox as they seem to have the most balanced view on this. 

[Suzie the Fox]

I don't think so, but its certainly a possibility.

 

Didnt realise there was no PSR in League 1, so that will be interesting to see if Top does stick his hands in his pockets and spend money. 

[Jattdogg]

47 minutes ago, Suzie the Fox said:

I don't think so, but its certainly a possibility.

 

Didnt realise there was no PSR in League 1, so that will be interesting to see if Top does stick his hands in his pockets and spend money. 

The only things he has been doing lately with his pockets is playing pocket pool.

[Guy]

On 30/04/2026 at 19:44, 21st Century Fox said:

So to summarise this thread:

 

maybe, maybe, no, maybe, maybe, yes, maybe, yes, no, yes, yes, no.

Definitely maybe (not)! 

[Terraloon]

19 hours ago, Beachyboy said:

If the club go bust the players get nothing, if they get promoted the club is worth more. Out the box suggestion here could we null and void the contracts in exchange for shares in the club. If any of them stayed wouldn't that be an incentive to perform better as you don't get paid unless we do. 

I think the  fact is that we simply don’t know just how much damage the 25/26 year has done financially . However bad the year will be it will obviously be on top of the accumulated damage of the last few years. 
 

We can all guess as to the overall wage bill, as to the lack of cash, etc but what has spooked me is one simple comment from Top. That comment wasn’t a commitment ,it wasn’t  a rallying call, for me it was damming in that everything going forward will be based on “hope”.

 

I think it’s a given that in terms of  lack of cash, and that’s where we need to focus, the decline has and still is worsening.The question is at what point the whole edifice crumbles. Get to the point of delaying payments to the likes of HMRC and in a blink of an eye the potential of Administration looms ever closer. In such a scenario the players will fall under the classification of football creditors so they will get paid what they are owed because almost certainly any forced sale will generate enough to cover that creditor group.

 

So for PSR, FFP, SCMP or whatever acronym is in fashion an accounting adjustment can move the dial from failure to compliance but when it comes to paying the bills it’s what’s in the bank or if there isn’t enough to match what’s going out it’s how that gap is closed. That’s where I now have more concern than ever and yes back to that one comment that’s what has spooked me.

 

I have long been highlighting the costs that won’t be going away even if wages are cut, players sold or massive cuts are made in the administrative staff numbers the likes of business rates, insurances, utility bills etc are a killer and there is absolutely no way that those expenses are affordable but yet they will still be due. 

 

Ok money will be coming in from transfers, from ST sales, from commercial income and the likes but to even see out 26/27 there will need to be a cash injection of note from somewhere that is if the club isn’t sold. So back to the question where is that cash going to come from ? 
 

We are all distracted by the concern, no fear, that the 26/27 parachute payment has already been used but 26/27 is in the EFL1 as we all know and irrespective no parachute monies will be added to the coffers come 27/28.

 

I often use the term when it comes to LCFC of “Kicking the can down the road” In terms of cash that can has now hit the wall at roads end.

 

Some seek solace in the fact that Top or KPI  will throw more money at the club, well he  they or someone is going to have to the question is have  they the resources to do so ? Just as much of a concern is have they the will to keep the funds rolling in?
 

I have no doubt that feelers are out looking for a new owner but being in EFL 1 despite having won the PL and fa cup in recent years won’t be putting significant value on the club  . So we then ask the question can the owners afford to take what would be a massive loss to get out of the club ? 
 

So can’t afford to stay as owners and can’t afford not to be.!
 

 

 

 

 

 

Edited 4 May by Terraloon

[Claudio Fannieri]

8 minutes ago, Terraloon said:

I think the  fact is that we simply don’t know just how much damage the 25/26 year has done financially . However bad the year will be it will obviously be on top of the accumulated damage of the last few years. 
 

We can all guess as to the overall wage bill, as to the lack of cash, etc but what has spooked me is one simple comment from Top. That comment wasn’t a commitment ,it wasn’t  a rallying call, for me it was damming in that everything going forward will be based on “hope”.

 

I think it’s a given that in terms of  lack of cash, and that’s where we need to focus, the decline has and still is worsening.The question is at what point the whole edifice crumbles. Get to the point of delaying payments to the likes of HMRC and in a blink of an eye the potential of Administration looms ever closer. In such a scenario the players will fall under the classification of football creditors so they will get paid what they are owed because almost certainly any forced sale will generate enough to cover that creditor group.

 

So for PSR, FFP, SCMP or whatever acronym is in fashion an accounting adjustment can move the dial from failure to compliance but when it comes to paying the bills it’s what’s in the bank or if there isn’t enough to match what’s going out it’s how that gap is closed. That’s where I now have more concern than ever and yes back to that one comment that’s what has spooked me.

 

I have long been highlighting the costs that won’t be going away even if wages are cut, players sold or massive cuts are made in the administrative staff numbers the likes of business rates, insurances, utility bills etc are a killer and there is absolutely no way that those expenses are affordable but yet they will still be due. 

 

Ok money will be coming in from transfers, from ST sales, from commercial income and the likes but to even see out 26/27 there will need to be a cash injection of note from somewhere that is if the club isn’t sold. So back to the question where is that cash going to come from ? 
 

We are all distracted by the concern, no fear, that the 26/27 parachute payment has already been used but 26/27 is in the EFL1 as we all know and irrespective no parachute monies will be added to the coffers come 27/28.

 

I often use the term when it comes to LCFC of “Kicking the can down the road” In terms of cash that can has now hit the wall at roads end.

 

Some seek solace in the fact that Top or KPI  will throw more money at the club, well he  they or someone is going to have to the question is have  they the resources to do so ? Just as much of a concern is have they the will to keep the funds rolling in?
 

I have no doubt that feelers are out looking for a new owner but being in EFL 1 despite having won the PL and fa cup in recent years won’t be putting significant value on the club  . So we then ask the question can the owners afford to take what would be a massive loss to get out of the club ? 
 

So can’t afford to stay as owners and can’t afford not to be.!
 

 

 

 

 

 

Great post, I have been banging this drum for a while now, it’s not about PSR or league one equivalent, it’s about cash flow, and ours will have taken a hit this season with the drop off in attendances etc and matchday revenue which is critical in terms of day to day cash flow. 
 

Season tickets sales are not going well and the latest incentives show the club are getting desperate. 
 

what will be interesting is do we sell a player or two quite quickly and is this to satisfy PSR compliance or is it discounted on basis that the majority of the fee is paid upfront, to help keep the wolf from the door. 
 

 

 

 

[Chelmofox]

24 minutes ago, Claudio Fannieri said:

Great post, I have been banging this drum for a while now, it’s not about PSR or league one equivalent, it’s about cash flow, and ours will have taken a hit this season with the drop off in attendances etc and matchday revenue which is critical in terms of day to day cash flow. 
 

Season tickets sales are not going well and the latest incentives show the club are getting desperate. 
 

what will be interesting is do we sell a player or two quite quickly and is this to satisfy PSR compliance or is it discounted on basis that the majority of the fee is paid upfront, to help keep the wolf from the door. 
 

 

 

 

I thought the news was that season ticket renewals were actually ok?

[ClaphamFox]

38 minutes ago, Claudio Fannieri said:

Great post, I have been banging this drum for a while now, it’s not about PSR or league one equivalent, it’s about cash flow, and ours will have taken a hit this season with the drop off in attendances etc and matchday revenue which is critical in terms of day to day cash flow. 
 

Season tickets sales are not going well and the latest incentives show the club are getting desperate. 
 

what will be interesting is do we sell a player or two quite quickly and is this to satisfy PSR compliance or is it discounted on basis that the majority of the fee is paid upfront, to help keep the wolf from the door. 
 

 

 

 

I would say it’s about both. Compliance with PSR/SCMP is important because we don’t want to get in a cycle of annual points deductions—especially as we need to get out of League One as soon as possible. Cash flow is even more important because if we can’t pay the bills we’ll go into administration and get an even bigger points deduction. Does the club slash costs across the board and accept we may be stuck in League One for a while or spend a bit in an attempt to get back to the Championship straight away?

 

I don’t have any personal knowledge of the season ticket situation, but judging from reports it seems that around 20k may have renewed. If we end up with 22k in total that will be a decent number in League One (the last time we were down there we had around 14k). The challenge with trying to sell players quickly for PSR purposes is that our most saleable asset will be at the World Cup when the transfer window opens. Hopefully a few deals are agreed in advance…

[Ian S]

14 hours ago, cropstonfox said:

Tops not throwing the keys in.He knows he's got to repair the damage he's over seen and condoned. Points deduction or not he'll put us in a better place to be attractive to perspective buyers. 

Think you are giving too much credit to Top re his actual capabilities.

[Ian S]

2 hours ago, Chelmofox said:

I thought the news was that season ticket renewals were actually ok?

Based on the email I received giving me the option to buy 2 more for family and friends I would suggest not.

[Qwerty]

14 hours ago, Clogger_ said:

But if KP pump in the necessary money, we'll get a monumental points deduction. Snookered by years of god-awful "leadership"

Why would we get a points deduction?  There’s no PSR in league 1.  As long as you adhere to the percentages (which is 75% in the first year of relegation), then owners can put in as much as they like.  My understanding is that an owner could put in 100 billion of their own money, and as long as they spend 25% of it on non-player expenses, then it’s allowed. 

[Terraloon]

The EFL 1 75% squad spend  is unlikely to be truly known till some time around Jan 2028 . It’s all well and good pointing to the lack of limits but if say £100 m was forthcoming and indeed £75m added to the playing budget that sort of investment could prove problematic if promotion was achieved and assessed in a later year  under PSR.

 

Balancing the numbers in 26/27 won’t be as easy as some think and should promotion not be achieved and the allowable % drops to 60% the challenge becomes even greater.
 

Till the 25/26 Championship numbers are finalised sometime later in 2026 or early 27 then the possibility remains an overspend of £61 million in the three years to 30/6/26 will result in a charge under the championship rules which could result in a points deduction that would be imposed even in EFL1. Let’s hope the numbers aren’t an issue.

 

The 26/27 season will be being assessed as we talk and there will have been all sorts of projections being submitted to target  compliance for 25/26 or before accounting year end maybe having to selling a player.

 

Hopefully there isn’t a pressing need to generate transfer  cash before 30/6 because any income received in the 25/26 year won’t count toward the 26/27 income.

I haven’t fully thought it through,  it might be advantageous to sell players in 25/26 but agree a payment plan whereby no cash is actually received til 26/27. That might, and I say might, work massively to the clubs advantage.

 

[Beachyboy]

On 03/05/2026 at 21:39, Clogger_ said:

But if KP pump in the necessary money, we'll get a monumental points deduction. Snookered by years of god-awful "leadership"

I don’t think we get a points deduction this season if KP pump in money, as I thought the league 1 rules were different, however do they have the money to pump in? Will they spend it wisely? Would pumping money in affect future seasons? The answer to the last question is definitely yes, who knows on the other questions. 

[Chrysalis]

I dont think significant money is coming into the club from the owners.  More likely a loan is secured against Seagrave or the stadium.