MBK Posted 29 September 2006 Posted 29 September 2006 Thing is from the tiny island of malta, i m not really in the most ideal situation to be a leceister fan...except fervent website following and the odd game on tv...what i do want to know is why and how the club is so much in debt (eg stadium wise) and more importantly what does the club say its dng about it. Plus what is the total debt. Dont other clubs like ipswich have debt as well, and arent they coping better? please bear with me if this is a topic that has been repeatedly talked about....
Ric Flair Posted 29 September 2006 Posted 29 September 2006 Thing is from the tiny island of malta, i m not really in the most ideal situation to be a leceister fan...except fervent website following and the odd game on tv...what i do want to know is why and how the club is so much in debt (eg stadium wise) and more importantly what does the club say its dng about it. Plus what is the total debt. Dont other clubs like ipswich have debt as well, and arent they coping better? please bear with me if this is a topic that has been repeatedly talked about.... £18 million for the stadium, but it's a like a mortgage. However we are only paying the interest on what we owe so the debt is going up every year we are out of the premiership.
Daggers Posted 29 September 2006 Posted 29 September 2006 £18 million for the stadium, but it's a like a mortgage. However we are only paying the interest on what we owe so the debt is going up every year we are out of the premiership. I'm confused Ric, if we're paying the interest - how is the debt getting larger?
MBK Posted 29 September 2006 Author Posted 29 September 2006 I'm confused Ric, if we're paying the interest - how is the debt getting larger? suppose its part compound interest...means that Lm18 million interest is too much for the club to pay with limited resources in the championship. Point being LM 18 million debt is much less than Lm 50 million ipswich had recently. yet they have more money for players available
The People's Hero Posted 29 September 2006 Posted 29 September 2006 Thing is from the tiny island of malta, i m not really in the most ideal situation to be a leceister fan...except fervent website following and the odd game on tv...what i do want to know is why and how the club is so much in debt (eg stadium wise) and more importantly what does the club say its dng about it. Plus what is the total debt. Dont other clubs like ipswich have debt as well, and arent they coping better? please bear with me if this is a topic that has been repeatedly talked about.... You have to stop to consider the fact that our board is an incompetent, complacent set of buffoons. Ambition, progress and forward thinking are horribly absent whilst stagnation and excuses are all the rage... but the 'spectre of administration' they cry.
Ric Flair Posted 29 September 2006 Posted 29 September 2006 I'm confused Ric, if we're paying the interest - how is the debt getting larger? Because I think we're not paying all of it, just the minimum or something like that. I might be wrong.
bigneville Posted 29 September 2006 Posted 29 September 2006 I found it hard to take this thread seriously when the topic couldnt spell Leicester right....
Suffolk_fox Posted 29 September 2006 Posted 29 September 2006 Maybe its Mandaric.... (Can be sung to the time of 'Maybe its Maybeline')
ithuriel Posted 29 September 2006 Posted 29 September 2006 I found it hard to take this thread seriously when the topic couldnt spell Leicester right.... i havent seen a topic in years , do they still make them?
stez Posted 29 September 2006 Posted 29 September 2006 i havent seen a topic in years , do they still make them? they do indeed! i had one last saturday pre-match from the shop on the corner of filbert street
Hullfox Posted 29 September 2006 Posted 29 September 2006 I found it hard to take this thread seriously when the topic couldnt spell Leicester right.... Oops - pot, kettle and all that.
eaststandtom Posted 30 September 2006 Posted 30 September 2006 did anyone read the fox summer special interview with the chairman????? hits home!!!! i think the debt is £20 million now
bigneville Posted 30 September 2006 Posted 30 September 2006 Oops - pot, kettle and all that. Oh my god, I missed out one little bit of punctuation and i'm compared to someone who can't even spell the name of our football club right.
stez Posted 30 September 2006 Posted 30 September 2006 Oh my god, I missed out one little bit of punctuation and i'm compared to someone who can't even spell the name of our football club right. and all he did was put an 'i' in the wrong place.
bigneville Posted 30 September 2006 Posted 30 September 2006 and all he did was put an 'i' in the wrong place. I think that the letter "I" is of far greater importance than the apostrophe in the word couldn't.
stez Posted 30 September 2006 Posted 30 September 2006 I think that the letter "I" is of far greater importance than the apostrophe in the word couldn't. i never knew the 'word' couldn't had an 'i' in it?
MBK Posted 30 September 2006 Author Posted 30 September 2006 I think that the letter "I" is of far greater importance than the apostrophe in the word couldn't. Kind of its true i m probably an ignorant savage...Beg my pardon. Doesnt change the fact i do follow leicester seriously plus aim to be seeing games live next year when i ll be doing my phd in medicine hopefully at your university.
bigneville Posted 30 September 2006 Posted 30 September 2006 i never knew the 'word' couldn't had an 'i' in it? AAARRRGGGHHHH I hate mornings..... Never do i make sense in the mornings....
DanTheFoxBhoy Posted 30 September 2006 Posted 30 September 2006 Oh my god, I missed out one little bit of punctuation and i'm compared to someone who can't even spell the name of our football club right. I think that the letter "I" is of far greater importance than the apostrophe in the word couldn't. Well then, technically you should have used "I" in "I'm"
bigneville Posted 30 September 2006 Posted 30 September 2006 Well then, technically you should have used "I" in "I'm" Not another one Dan....
step Posted 30 September 2006 Posted 30 September 2006 Like all the better clubs in the UK, we probably do have debt but because of administration our slate was wiped clean so have no fear we are better of than most clubs. If we owe anything it will only be normal unpaid invoices that are waiting to be cleared. But dont expect the club to start spending loads, because I am sure that since we went into administration there are regulations and laws governing how the club performs financialy.
Thracian Posted 30 September 2006 Posted 30 September 2006 did anyone read the fox summer special interview with the chairman????? hits home!!!! i think the debt is £20 million now In which case it seems to have gone up £3m in under a month from the figure I saw being quoted on here by the FT (apologies to the FT if I've misquoted them). If that's the case then the club is leaking like a doomed ship but if not and if we are maintaining our payments on the ground then it might be worth remembering - especially as owners of Belvoir Drive - that the value of prime building land is escalating at a rate of knots and there's no logic in thinking that will change Furthermore despite all the knockers who plead for more "outside" signings which are virtually bound to be non-assets considering we have nothing to spend, our young players are getting more valuable with every day's experience. How much more is Kisnorbo worth than nine months ago...most of £2m? Sunderland have already offered £1m plus extras for Stearman so that's £3m plus. If Weso keeps getting games in instead of getting injured his price will only advance, Porter is worth something where two months ago he was worth nothing, Logan the same and so it goes on really... Take that £17m debt but consider first that Belvoir Drive's worth £8m at least now and secondly that the team is worth £10m at the very least. That means we've effctively got the Walkers as an appreciating state-of-the-art tangible asset plus anything the team's worth over £10m. What we need more than anything is not an opportunistic investor, it is for our manager to rid us of dead wood and to show the charisma and imagination needed to get the best out of our players and present them in the most appropriate way considering their abilities - as an exciting attacking unit. Logan; Stearman, McCarthy, Kisnorbo, Sheehan; Hammond/Gradel, Hume, Weso, Porter; Fryatt, O'Grady, Dodds, King, Odhiambo, Kenton, Williams, McAuley, Henderson, Low, plus the likes of Smedley, Tejan-Sie, Magunda represents 23 players a lot of clubs would envy - especially those with youth teams can only hope for the sort of side we've got staring down at them from the top of the Academy League. Apart from our style of play I think that represents a far better position than we were in 12 months ago.
Daggers Posted 30 September 2006 Posted 30 September 2006 ... when i ll be doing my phd in medicine hopefully at your university. Um, I know I'm being pedantic, but you can not do a PhD in Medicine. The Doctor of Philosophy award is for research whereas medicine carries the award of MD, Doctor of Medicine.
MBK Posted 30 September 2006 Author Posted 30 September 2006 Um, I know I'm being pedantic, but you can not do a PhD in Medicine. The Doctor of Philosophy award is for research whereas medicine carries the award of MD, Doctor of Medicine. Dnt know how your pedantic method works. Back in europe its kind of what we do to make sure that we earn double pay for doing half the work...Kind of ask the linguists to settle that out...anyways thanks for all those who posted...It was good help.
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