Speculating on our finances & future

[DJ Barry Hammond]

As long as their is a club, does it matter who owns it?

I can imagine many investors into football could have been put of by the crazy things going on's at first Chelsea and now Manchester City as to get sucess at the top you have to compete on a whole different financal level now.

Where it was once a local businessmans dream to take his club into the Premiership (and still is in some senses) to stay there is taking more and more.

I think this will see more and more clubs being taken over by wealthy 'fans of the club' a bit like what went on at Luton, and they will be run to stay alive which should be a good thing in general for football.

Clubs like West Brom, which have used promotion to the Premiership as a ground to help increase revenue and make a formidable Championship squad could prove the best long term strategy.

As for Mandy - well he's still with us, I feel he has an affinity for the club, and wants the club to do well, and not just to make a quick buck for himself - but even if he does that has to mean some short term sucess.

[Finnegan]

While I think there's still a lot of cynicism playing around about Mandaric and our financial state that isn't warranted, I think people are exceptionally naive if they believe we're now "debt free." There's probably some fair truth in the belief that we're being funded by loans in our name in Mandaric's trust and without him we probably would be left particularly screwed.

I have to say though - and you can call me gullible all you like - I do buy into his stuff about wanting to leave the club in a manageable position and taking pride in his work. He is ruthless, he is a mercenary but I also think he's a businessman and a professional and not just some complete pirate / cowboy.

I'm not saying he'll take us to the Prem and, like Portsmouth, see us settled and stable before moving on - but nor do I think he's especially twofaced and I'll sincerely be surprised if he goes before we're a stable, solid, mid-table Championship side at the very least. It's for that reason that I'm thinkin Daggers may be performing fellatio next March, really, I don't think he'll be cutting and running yet unless he gets a really good offer - and I juts don't see one coming.

[Bert]

I know for a fact the club isn't in as good a financial position as many expect us to be.

[Ultra]

Given the fall in attendances and hence revenue, our poor financial health is hardly a secret.

Why else do you think we're being asked to renew season tickets so early?

Mandaric is having to bail us out a lot more than he planned.

If his three-year plan doesn't work, and right now the signs are not too promising, he may decide to pull the plug... :eek:

[surrifox]

The finances of football are those of the madhouse and it is amazing that wealthy self made men continue to put their finances at stake in what can only ever be an illusion of further wealth. MM said he made around £38mill when he sold Portsmouth , could not remit most of it back to the States for tax reasons (?) and that he would use it for making LCFC a force in the Premiership well that is on the way to disappearing in 2 years wallowing in the lower reaches of the CCC and upper reaches of Div 3.

Promotion to the prem has brought ruin to many clubs when they return to earth; all parachute payments help with is paying up the ruinous player contracts for those who got you relegated in the first place, it has made the already fabulously wealthy clubs even more fabulously wealthy but I can cannot call to mind any club that has been able to utilise the enormous amounts of TV dosh (which must be in excess of a a few billion) to build a stable and successful club

[Daggers]

While I think there's still a lot of cynicism playing around about Mandaric and our financial state that isn't warranted, I think people are exceptionally naive if they believe we're now "debt free." There's probably some fair truth in the belief that we're being funded by loans in our name in Mandaric's trust and without him we probably would be left particularly screwed.

I have to say though - and you can call me gullible all you like - I do buy into his stuff about wanting to leave the club in a manageable position and taking pride in his work. He is ruthless, he is a mercenary but I also think he's a businessman and a professional and not just some complete pirate / cowboy.

I'm not saying he'll take us to the Prem and, like Portsmouth, see us settled and stable before moving on - but nor do I think he's especially twofaced and I'll sincerely be surprised if he goes before we're a stable, solid, mid-table Championship side at the very least. It's for that reason that I'm thinkin Daggers may be performing fellatio next March, really, I don't think he'll be cutting and running yet unless he gets a really good offer - and I juts don't see one coming.

Am I shit as like going to be performing fellatio - auto-fellatio only thanks

[Jon the Hat]

he has had offers to buy leicester as finacially we are attractive to purspective buyers.

he has now bought back our stadium as far as I know,

we don`t hold much debt and when we get back into the championship and attendences start to raise again then we will start to make profit once again.

If he is serious about us getting promoted from the championship how much money do we all think it`s going to take.

We are attractive becuase the think they can get us cheap, and Mandy will not sell cheap, so this is irrelevant.

We do not own the stadium unless I missed something.

We hold a shed load of debt. We are a long long way from making a profit. Might never happen.

It will take time to get promoted, not just money, and he doesn't have the patience. I am with Daggers on this one.

[Daggers]

Mandy will not sell cheap, so this is irrelevant.

You do not have one iota of fact to back-up that statement, so this too is irrelevant

If he does not think we can construct a table-topping side on the cheap then he will be off before anyone can spell relegation. He was on the way out at the tail-end of last season and we wouldn't have seen him for dust had we stayed up, there is nothing to suggest these plans are not being dusted off as I type

[davieG]

Financially we are in the shit, probably worse than when he took over, certainly a much bigger debt.

He'll be on his way as soon as an opportunity arises. As for his promise to leave us better than he found us well that can easily be over come by sleight of hand, he's good at that or by insisting whoever takes over has the ability to take us further than he could.

[Shrenchel]

If the debt is larger than we he arrived I just don't see who would be willing to buy us in the current financial situation. There's clubs in much better shape that can be shifted at the moment.

[davieG]

If the debt is larger than we he arrived I just don't see who would be willing to buy us in the current financial situation. There's clubs in much better shape that can be shifted at the moment.

Like who? and are you sure their finances are so much better or are you speculating in the this speculating thread

[Shrenchel]

Like who? and are you sure their finances are so much better or are you speculating in the this speculating thread

Yeh the latter. Sorry, know I shouldnt repeat hearsay on here.

[davieG]

Yeh the latter. Sorry, know I shouldnt repeat hearsay on here.

Not a problem in this thread as it's all guesswork, hearsay and bollocks

[Shrenchel]

Mandaric is going to sell the club to fund Levi Porter's bugle habit.

[lefox]

I'm going to sound old here.. what the f... is a bugle habit. I get the general gist, but why a bugle? You never know he might have a cleveland steamer habit and just smells the dressing room out...

[jimmer]

All this hearsay you lot are repeating in text.......

[DanTheFox07]

We are attractive becuase the think they can get us cheap, and Mandy will not sell cheap, so this is irrelevant.

We do not own the stadium unless I missed something.

We hold a shed load of debt. We are a long long way from making a profit. Might never happen.

It will take time to get promoted, not just money, and he doesn't have the patience. I am with Daggers on this one.

Ok so when mandaric bought us he bought back the stadium so we are no longer leasing it! hence we now own the walkers. How do u Know we hold a lot of debt??? of course it will take time to get promoted i merley stated that we as supporters wouldnt say no to getting back to back promotions.

[Jon the Hat]

Ok so when mandaric bought us he bought back the stadium so we are no longer leasing it! hence we now own the walkers.

Source? I don't recall Mandaric buying the Walkers. As far as I am aware it still belongs to Teachers Insurance who lent us the cash to build it, and we are leasing it from them.

[renards]

Ok so when mandaric bought us he bought back the stadium so we are no longer leasing it! hence we now own the walkers. How do u Know we hold a lot of debt??? of course it will take time to get promoted i merley stated that we as supporters wouldnt say no to getting back to back promotions.

I can't believe that people still think this?

The club pays out more than it brings in....it's fairly obvious, MM has to contantly put his own money in to pay the wage etc

We do not own the stadium, I understand Teachers reduced the debt to 16M during the admin, seemed like that or nothing.

Mandy has taken a massive gamble to gets us to the promised land, the money he has put in is a loan not a gift he will take his money and run if it happens..if not it has been an expensive hobby