stourbridgefox Posted 17 April 2012 Posted 17 April 2012 I go and start a thread about my insecurities about the ownership of the club. But...in the absence of any real information, we are left to pick up on little comments which may or may not give us a clue to what is going on. So here is where my paranoia is taking me today. Listening to the radio after the game, Alan Young said of the Thai owners, "if they stick around." Nigel Pearson, when talking about player transfers in the Summer on the radio, said "we will have to see what business we CAN do." The emphasis was on the 'can' and I suppose there are different ways to interpret this, but I chose to interpret it as 'we may not be in a position to do much business.' Some other strange things are, the Player of the Year Awards is delayed. Previously on the radio Stringer has said this is because of a problem with sponsorship. The season tickets are very delayed. Is this because it is not yet clear who the sponsors of the club are, and therefore the attendant literature cannot be printed? Also, the shirt sponsorship deal with King Power was for two years. We are due a new shirt next season. I wonder who the sponsors will be? Does anyone know how long the ground sponsorship deal was for, and does anyone know when a member of the Raksriaksorn family last attended a game? They were very keen previously, even turning up unexpectedly to pre-season friendlies. Now I know many people are going to stand up and tell me that the Raksriaksorns have made a long term commitment to the club, that they have invested in TV screens and in the training ground and linked the name of their company with to Leicester City. And I sincerely hope that they are right. But...there is no doubt that there are some strange goings on around the club at the moment, and one way to interpret them is that there are going to be 'some big changes at the club this Summer.' Someone please prove me wrong. ps - a member of staff in the club shop said there will be an announcement on season tickets early next week.
stourbridgefox Posted 17 April 2012 Author Posted 17 April 2012 Well I wish I could be a happy fox like yourself, but instead I am swinging between being an optimistic fox and a anxious fox about adding 2+2+2+2+2 together and getting 10.
THEFATBASTARD Posted 17 April 2012 Posted 17 April 2012 By the end of the summer the club will not exist , there will be an empty hole where the stadium used to be...and we will still finish second in the best pitch competion..
jonlcfc1990 Posted 17 April 2012 Posted 17 April 2012 There are going to be big changes in the summer why would i want to prove you wrong? We need to evaluate a whole new team old players, New players and youth players. I would imagine improvements to the Stadia, Training facilities and megastore were made in a budget that invisioned us being in the premier league by now...This hasn't happened so again money from our revenue streams such as Shirt sponsers Ground sponsers Team transfers Will all be evaluated and made to cut or spread costs accordingly. Change doesn't have to be a bad thing look at the bigger picture and stop worrying. We have a man in Pearson who can look at what we need and most certainly see what we don't not to mention his winter business was sheer class and if it wasn't for Billy "more money please" Sharp and Cameron "back off Nige he's a tiger" Stewart he would have made more quality signings in addition to Drinky Marshy and Morgy . In closing this whole Forum has been about change and how much it's needed so why think it's bad if the owners think this too? any critisisms feel free to pick up on them i might have made some gramatical errors but i hope you get the jist. Peace Keep the faith In Nige we trust.
stourbridgefox Posted 17 April 2012 Author Posted 17 April 2012 Part of my job as a history teacher is now to pick up on literacy errors (thanks offsted) but don't worry...I'm off duty. I believe we have the perfect manager to trim player budgets and restructure if that is what is needed, and to find hidden gems too. What is really worrying me is if the Thai owners underestimated the difficulties and complexities of getting a Championship side into the Premier League and decide to cut their losses and toddle back to Thailand. I think we would struggle to find a buyer for the club when it is in debt beyond what it is worth. I worry the club might cease to exist in this situation.
Happy Fox Posted 17 April 2012 Posted 17 April 2012 Part of my job as a history teacher is now to pick up on literacy errors (thanks offsted) but don't worry...I'm off duty. I believe we have the perfect manager to trim player budgets and restructure if that is what is needed, and to find hidden gems too. What is really worrying me is if the Thai owners underestimated the difficulties and complexities of getting a Championship side into the Premier League and decide to cut their losses and toddle back to Thailand. I think we would struggle to find a buyer for the club when it is in debt beyond what it is worth. I worry the club might cease to exist in this situation. We are 53 million pound in debt atm.
jonlcfc1990 Posted 17 April 2012 Posted 17 April 2012 We are 53 million pound in debt atm. Source Now
Freeman's Wharfer Posted 17 April 2012 Posted 17 April 2012 It is a little concerning, wouldn't do any harm for them to release a statement re-affirming their commitment to the club. Afterall there would be no harm in doing so if that were the case... The season tickets issue, player awards stuff and lack of new shirt, all doesn't bode well.
Happy Fox Posted 17 April 2012 Posted 17 April 2012 Source Now Well the money loaned to us amounts to that amount, we have to pay it back with an 8% interest so yeah we do need to get promotion asap, this money isn't the Thais hard earned cash it is a loan.
MC Prussian Posted 17 April 2012 Posted 17 April 2012 Well the money loaned to us amounts to that amount, we have to pay it back with an 8% interest so yeah we do need to get promotion asap, this money isn't the Thais hard earned cash it is a loan. You still haven't come up with the sauce.
Happy Fox Posted 17 April 2012 Posted 17 April 2012 You still haven't come up with the sauce. http://www.guardian.co.uk/football/2012/mar/16/leicester-city-fa-cup-chelsea Their also threads looking at the Financial accounts.
Leicesterpool Posted 17 April 2012 Posted 17 April 2012 The owners weren't there tonight! Put it this way if the owners are at the West Ham game we're safe and there going to be next season, if there aren't at the West Ham game then panic!
stourbridgefox Posted 17 April 2012 Author Posted 17 April 2012 The club, unless it is in the Premier League, is not worth £53 million. Who would buy the club knowing they would have to pay the Raksriaksorns £53 million before they start paying wages and buying players? It does not make business sense, and if we had any Leicester fans with the kind of ready cash necessary to do it for love, then where were they before Mandaric turned up?
stourbridgefox Posted 17 April 2012 Author Posted 17 April 2012 The £53 million debt with interest at 8% was in the club's financial statement released at the beginning of April. As was the terms of the debt that it becomes due in 12 months time.
jonlcfc1990 Posted 17 April 2012 Posted 17 April 2012 The owners weren't there tonight! Alas my dear friends the battle is lost i'll start finding a park ground for AFC leicester to play on in the morning. Till then i'm going to have a beer and play some fallout without paranoid worrying about the Thais Peace.
MC Prussian Posted 17 April 2012 Posted 17 April 2012 http://www.guardian....-fa-cup-chelsea Their also threads looking at the Financial accounts. I do acknowledge that the Raksiaksorns and the rest of the consortium have invested quite a lot of money over the past year or so. But... I take those numbers with a pinch of salt. What is communicated to the outside world and what the real numbers are, well... we all know the story. (It means were even worse off )
MC Prussian Posted 17 April 2012 Posted 17 April 2012 Oh, I'm totally aware of the fact that we're doomed.
flowwolf Posted 18 April 2012 Posted 18 April 2012 I seen a bailiff van outside the ground I saw a little ginger haired bloke who used to play for INSIDE the ground beat that !
Guest MattP Posted 18 April 2012 Posted 18 April 2012 I'm astonished how casual some of our fans are over the debt we have accumulated under the Thai's. If we were in the German league we would struggle to get a license off the football authorities. Like someone said earlier, the debt is 57 million ish, to people who our fans aren't even allowed to know who they are, 27million of this was scheduled to be paid back next season and we ran at a loss of 15million last year in accounts filed before the arrivals of Mills, Beckford etc. I'm glad some can laugh about it. You might be looking pretty damn stupid come the end of next season.
Mack Posted 18 April 2012 Posted 18 April 2012 I think it's around half of the 57 million that was loaned @8% and the rest was invested. The only way for the Thais to see a return on their investment is to get the club promoted. In fact the only way to get their money back and break even is to get the club promoted. If they walked it would cost them a lot of money. Whilst I agree their perceived change in attitude toward the club could be painted as a concern, maybe they were just trying to take some pressure off the manager and players by taking a back seat for a while? Who knows? Either way I am pretty sure they will have another tilt at the big time next season.
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