Babylon Posted 12 October 2006 Posted 12 October 2006 http://www.thebluearmy.co.uk/details.asp?k...102006363610531 Leicester City today revealed they made a profit of £1.6million last season. It marks a turnaround in fortunes for the club after they reported a £3.5m loss for the 2004/05 campaign. Chief executive Tim Davies said most of the profit came from the £3m sale of David Connolly to Wigan and that it had already been spent on strengthening the squad. "We have always said that any profits made by the club will be invested back into the team," said Davies. However, a fall in match attendance saw gate receipts slump by almost a quarter to £4.82m, while money from TV and radio and retail and merchandise, such as replica shirts, also fell. This resulted in a 10 per cent drop in turnover to £20.15m in the year to May 31. But revenue from the Alliance & Leicester shirt sponsorship deal, match-day advertising, executive suites and other sources increased slightly. And to help deliver the profit, wages for the club's 202 staff were slashed by a third to £10.36m, more than half of which went to the 27 players. The same number of players had been paid £11m in 2004/05. Davies, the club's highest-paid administrative employee, saw his total pay package, including pension contributions, reduced by 18 per cent to £161,000. He said the results included compensation paid to Craig Levein following his sacking. "Our balance sheets on the face of it are relatively healthy," said Davies. "I'm pleased, but disappointed at the same time because we finished 16th in the Championship, which wasn't good enough for a club like Leicester. Our aim is for promotion this season." Connolly was sold in September last year and the money used to buy strikers Elvis Hammond, Matty Fryatt and Iain Hume. Some of it was also spent on bringing Ryan Smith on loan from Arsenal. City received their last £7m Premiership parachute payment last season. Davies hopes to offset the loss of this as much as possible from other sources. "Clearly, the performance of the club will continue to underpin the activities of the company, but we need all elements of the business to make a positive contribution to results," he said. Income from conferences and banquets was £3.32m, down from £3.34m last season, but they made up a slightly larger proportion of turnover. Davies said December's rugby match between South Africa and the Rest of the World was a prime example of the non-football events they were looking to attract to the stadium. He also said the club was still looking to host large concerts at the venue. So we made a profit last year. BUT... we don't have the £7m parachute payment, we haven't sold a player for £3m and gate receipts will be down even more. Where exactly are we going to make up £10m +. We are fooked.
Manwell Pablo Posted 12 October 2006 Posted 12 October 2006 http://www.thebluearmy.co.uk/details.asp?k...102006363610531 Leicester City today revealed they made a profit of £1.6million last season. It marks a turnaround in fortunes for the club after they reported a £3.5m loss for the 2004/05 campaign. Chief executive Tim Davies said most of the profit came from the £3m sale of David Connolly to Wigan and that it had already been spent on strengthening the squad. "We have always said that any profits made by the club will be invested back into the team," said Davies. However, a fall in match attendance saw gate receipts slump by almost a quarter to £4.82m, while money from TV and radio and retail and merchandise, such as replica shirts, also fell. This resulted in a 10 per cent drop in turnover to £20.15m in the year to May 31. But revenue from the Alliance & Leicester shirt sponsorship deal, match-day advertising, executive suites and other sources increased slightly. And to help deliver the profit, wages for the club's 202 staff were slashed by a third to £10.36m, more than half of which went to the 27 players. The same number of players had been paid £11m in 2004/05. Davies, the club's highest-paid administrative employee, saw his total pay package, including pension contributions, reduced by 18 per cent to £161,000. He said the results included compensation paid to Craig Levein following his sacking. "Our balance sheets on the face of it are relatively healthy," said Davies. "I'm pleased, but disappointed at the same time because we finished 16th in the Championship, which wasn't good enough for a club like Leicester. Our aim is for promotion this season." Connolly was sold in September last year and the money used to buy strikers Elvis Hammond, Matty Fryatt and Iain Hume. Some of it was also spent on bringing Ryan Smith on loan from Arsenal. City received their last £7m Premiership parachute payment last season. Davies hopes to offset the loss of this as much as possible from other sources. "Clearly, the performance of the club will continue to underpin the activities of the company, but we need all elements of the business to make a positive contribution to results," he said. Income from conferences and banquets was £3.32m, down from £3.34m last season, but they made up a slightly larger proportion of turnover. Davies said December's rugby match between South Africa and the Rest of the World was a prime example of the non-football events they were looking to attract to the stadium. He also said the club was still looking to host large concerts at the venue. So we made a profit last year. BUT... we don't have the £7m parachute payment, we haven't sold a player for £3m and gate receipts will be down even more. Where exactly are we going to make up £10m +. We are fooked. My heart bleeds for him
Janx Posted 12 October 2006 Posted 12 October 2006 Hes only getting the going rate for a man with his position and responsibilities, its not the money thats the issue, if we were doing better and were charging up the league, frankly you, me and anyone else would not give a flying fucH!
The People's Hero Posted 12 October 2006 Posted 12 October 2006 I could do with a slice of that cashamoneydough.
Manwell Pablo Posted 12 October 2006 Posted 12 October 2006 Hes only getting the going rate for a man with his position and responsibilities, its not the money thats the issue, if we were doing better and were charging up the league, frankly you, me and anyone else would not give a flying fucH! I'm not saying he isn't it's the way it's written. "and poor Tim Davis will struggle to feed Mrs Tim and Tiny Tim after taking a massive 18 per cent wage drop, theres going to be no Bentleys this Christmas kids" Faks sake.
Babylon Posted 12 October 2006 Author Posted 12 October 2006 I'm not saying he isn't it's the way it's written. "and poor Tim Davis will struggle to feed Mrs Tim and Tiny Tim after taking a massive 18 per cent wage drop, theres going to be no Bentleys this Christmas kids" Faks sake. I'd be amazed if there was a Mrs.
eaststandtom Posted 12 October 2006 Posted 12 October 2006 i think the guy has done a good job!!! fair play to him. big business's pay big money.
Fox in a Box Posted 12 October 2006 Posted 12 October 2006 Thats a positive then..... put the cash in the bank and use it prudently for paying off the stadiums 1 million a year mortgage, sooner or later we will start turning these draws into wins and the review of pricing is starting to happen accross all fottball clubs so things aint looking to bad. We need to Budget correctly and TD is doing this, hes being paid according to his poisition and hopefully we can surge higher that should bring in the crowds. Having 26,000 + for villa would help too... Well done but KEEP it going... A healthy balance would attract MILAN!~
Fox in a Box Posted 12 October 2006 Posted 12 October 2006 I'm not saying he isn't it's the way it's written. "and poor Tim Davis will struggle to feed Mrs Tim and Tiny Tim after taking a massive 18 per cent wage drop, theres going to be no Bentleys this Christmas kids" Faks sake. Would you take a pay cut? of 18% FAIR PLAY TIM....................
Manwell Pablo Posted 12 October 2006 Posted 12 October 2006 I'd be amazed if there was a Mrs. Not a massive shock that, I must admit.
Master Fox Posted 12 October 2006 Posted 12 October 2006 Any football club that manages to make a profit is pretty good going in my view! I think this will attract Milan Manadric to Leicester even more. If club can still make a profit while struggling in a relegation battle in the championship, then think what the potential there could be if they were in the premier league!
Manwell Pablo Posted 12 October 2006 Posted 12 October 2006 Would you take a pay cut? of 18% FAIR PLAY TIM.................... Id take double that if I was earning £200,000....
Foxello Posted 12 October 2006 Posted 12 October 2006 The only reason we made a profit was because we got rid of our best players(Gudjonsson, Walker, etc) and bought in crap ( Johnson, Hammond, etc)
Babylon Posted 12 October 2006 Author Posted 12 October 2006 Thats a positive then..... put the cash in the bank and use it prudently for paying off the stadiums 1 million a year mortgage, sooner or later we will start turning these draws into wins and the review of pricing is starting to happen accross all fottball clubs so things aint looking to bad. We need to Budget correctly and TD is doing this, hes being paid according to his poisition and hopefully we can surge higher that should bring in the crowds. Having 26,000 + for villa would help too... Well done but KEEP it going... A healthy balance would attract MILAN!~ It's positive that we need to scrape £10m+ back this year??????? £5m probably came off player wages, where is the other £5m+ coming from? I'm sure it would be pretty evident to milan that he would have to pump in vast amounts of money each year to keep us on an even Keel.
Fox in a Box Posted 12 October 2006 Posted 12 October 2006 Id take double that if I was earning £200,000.... that would be 160,000 the same as TIM Numpty
Manwell Pablo Posted 12 October 2006 Posted 12 October 2006 It's positive that we need to scrape £10m+ back this year??????? £5m probably came off player wages, where is the other £5m+ coming from? I'm sure it would be pretty evident to milan that he would have to pump in vast amounts of money each year to keep us on an even Keel. But were getting 26,000 at Villa and Super Tim has taken a 40 grand pay cut.
Babylon Posted 12 October 2006 Author Posted 12 October 2006 But were getting 26,000 at Villa and Super Tim has taken a 40 grand pay cut. That's ok then.... <_< He may have taken a pay cut, but I bet they give it back to him one way or another.
Manwell Pablo Posted 12 October 2006 Posted 12 October 2006 that would be 160,000 the same as TIM Numpty you dick. I meant I'd take a 36% cut on the 200,000 which Tim was earning.
Fox in a Box Posted 12 October 2006 Posted 12 October 2006 Profit is Profit As the bank manager.. We wouldnt be pushing the boat out to buy players for sure but I'd rather have a club than none at all... Players like Sylla, deVries, Taittio who wont be playing again really are costing this club the money now.... they should realise this and p*ss off
Fox in a Box Posted 12 October 2006 Posted 12 October 2006 you dick. I meant I'd take a 36% cut on the 200,000 which Tim was earning. Say that to my face and youd end up in hospital young boy.
Foxello Posted 12 October 2006 Posted 12 October 2006 Profit is Profit As the bank manager.. We wouldnt be pushing the boat out to buy players for sure but I'd rather have a club than none at all... Players like Sylla, deVries, Taittio who wont be playing again really are costing this club the money now.... they should realise this and p*ss off Wish they would! And take some other shit with them( AJ, Hughes, Nissa,etc)
Manwell Pablo Posted 12 October 2006 Posted 12 October 2006 Say that to my face and youd end up in hospital young boy. If it means you end up in nick for a few months and I don't have to read the drivle you post on here all the better.
Babylon Posted 12 October 2006 Author Posted 12 October 2006 Profit is Profit As the bank manager.. We wouldnt be pushing the boat out to buy players for sure but I'd rather have a club than none at all... Players like Sylla, deVries, Taittio who wont be playing again really are costing this club the money now.... they should realise this and p*ss off Yes, Profit is profit. Funnily enough I know that. Using the same thought process. Loss is also loss, this year and every year from now on we are going to make a frigging big one!!!! No parachute payment. No £3m for Connolly = BIG FAT LOSS.
Manwell Pablo Posted 12 October 2006 Posted 12 October 2006 Yes, Profit is profit. Funnily enough I know that. Using the same thought process. Loss is also loss, this year and every year from now on we are going to make a frigging big one!!!! No parachute payment. No £3m for Connolly = BIG FAT LOSS. We did spend a fair bit on players that season
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