Oadby Fox Posted 20 August 2012 Share Posted 20 August 2012 Leicester City chairman Vichai Raksriaksorn has reaffirmed his commitment to getting Leicester City into the Premier League. Vichai said, in his annual address, that he and son, Aiyawatt, who is the City vice-chairman, were determined to take City to the top flight as quickly as possible. http://www.thisisleicestershire.co.uk/story-16734278-detail/story.html Link to comment Share on other sites More sharing options...
Jace Posted 20 August 2012 Share Posted 20 August 2012 I bet they are with the new Premiership television rights deal starting from next season increasing clubs revenue by upto 70% These guys got far too much stick last season we would be a right mess without investors like them Link to comment Share on other sites More sharing options...
Captain... Posted 20 August 2012 Share Posted 20 August 2012 I don't think it needed saying, but I'm glad he did. Link to comment Share on other sites More sharing options...
dmayne7 Posted 20 August 2012 Share Posted 20 August 2012 I don't think it needed saying, but I'm glad he did. This, although I think the last bit showed that they actually do care and understand football Link to comment Share on other sites More sharing options...
Richard Posted 20 August 2012 Share Posted 20 August 2012 So far spot on as a set of owners, let's hope it stays that way Link to comment Share on other sites More sharing options...
cc_star Posted 20 August 2012 Share Posted 20 August 2012 I bet they are with the new Premiership television rights deal starting from next season increasing clubs revenue by upto 70% These guys got far too much stick last season we would be a right mess without investors like them What are you talking about? They haven't invested anything... The club owes them something like £50m+ If there ever is a 'right mess' they'll be the reason for it, with their badly misjudged attempt to buy the division over 2 dire seasons. Anyway, they appear to have learned their lessons so all will be well as long as we get promoted over next season or two... beyond that & the debt will be a huge drag on fincances. Link to comment Share on other sites More sharing options...
MattyFromLE Posted 20 August 2012 Share Posted 20 August 2012 What are you talking about? They haven't invested anything... The club owes them something like £50m+ If there ever is a 'right mess' they'll be the reason for it, with their badly misjudged attempt to buy the division over 2 dire seasons. Sorry, that would have been Sven, throwing our money at mediocre players? I don't think Top or his dad made these signings, they merely trusted a manager with their money. Link to comment Share on other sites More sharing options...
Captain... Posted 20 August 2012 Share Posted 20 August 2012 What are you talking about? They haven't invested anything... The club owes them something like £50m+ If there ever is a 'right mess' they'll be the reason for it, with their badly misjudged attempt to buy the division over 2 dire seasons. Anyway, they appear to have learned their lessons so all will be well as long as we get promoted over next season or two... beyond that & the debt will be a huge drag on fincances. They have invested a lot and the club owes them money, not sure if £50m is the right amount, but those loans have been on top of substantial investment. Link to comment Share on other sites More sharing options...
cc_star Posted 20 August 2012 Share Posted 20 August 2012 They have invested a lot and the club owes them money, not sure if £50m is the right amount, but those loans have been on top of substantial investment. It was all published, it's around there This investment everyone talks about is simply the clubs future earnings, so ticket sales & TV revenues etc It's not some kind of free lunch everyone acts like it is The bright note is that they seem to have their head screwed on now & they're happy to keep under-writing their 2 season error means there's no cause for concern The only feasible way of paying it off though is promotion to the Prem, but people should realise there's a chance they've bet the future of our club on doing so... (as indeed most debt ridden clubs have) Link to comment Share on other sites More sharing options...
Jace Posted 20 August 2012 Share Posted 20 August 2012 What are you talking about? They haven't invested anything... The club owes them something like £50m+ If there ever is a 'right mess' they'll be the reason for it, with their badly misjudged attempt to buy the division over 2 dire seasons. Anyway, they appear to have learned their lessons so all will be well as long as we get promoted over next season or two... beyond that & the debt will be a huge drag on fincances. And how much would the club have owed to HMRC in capital gains tax if they had transfered the capital from their own pockets into the club accounts instead of loaning the money legitimately? Link to comment Share on other sites More sharing options...
Aeropars Posted 20 August 2012 Share Posted 20 August 2012 For christs sake.. I wish people would stop talking about stuff that they don't know full details of. In a nutshell, the owners cannot take money out of their own pocket and just give it to the club. For legal and tax purposes it has to be offset somehow and in this instance, its done in the form of a loan. Stop worrying about the parent "loans" and just enjoy the football. Link to comment Share on other sites More sharing options...
Jace Posted 20 August 2012 Share Posted 20 August 2012 For christs sake.. I wish people would stop talking about stuff that they don't know full details of. In a nutshell, the owners cannot take money out of their own pocket and just give it to the club. For legal and tax purposes it has to be offset somehow and in this instance, its done in the form of a loan. Stop worrying about the parent "loans" and just enjoy the football. Can we be mates? Link to comment Share on other sites More sharing options...
Happy Fox Posted 20 August 2012 Share Posted 20 August 2012 For christs sake.. I wish people would stop talking about stuff that they don't know full details of. In a nutshell, the owners cannot take money out of their own pocket and just give it to the club. For legal and tax purposes it has to be offset somehow and in this instance, its done in the form of a loan. Stop worrying about the parent "loans" and just enjoy the football. What is the reason for this just curious? Link to comment Share on other sites More sharing options...
Jace Posted 20 August 2012 Share Posted 20 August 2012 What is the reason for this just curious? Because the club can't just recieve a massive lump sum ammount of money without it being subject to tax Link to comment Share on other sites More sharing options...
foxesfan1989 Posted 20 August 2012 Share Posted 20 August 2012 He wants a good atmosphere. We should start a chant in his honour...give me an R...give me an A....give me a K.... Link to comment Share on other sites More sharing options...
Captain... Posted 20 August 2012 Share Posted 20 August 2012 Because the club can't just recieve a massive lump sum ammount of money without it being subject to tax And by offsetting the loan against profit we are probably paying very little in tax, certainly much less than we would if it was counted as a club asset. Not that I agree with this sort of thing (unless it benefits me obviously). Also it is against the rules to just dump money into a club from nowhere, I think this came in before FFP to stop clubs like Man City just buying the league, well delay them by a couple of seasons anyway. I am sure I read that they do invest a certain amount each year, on top of loans and sponsorship deals, but in line with what they are permitted to do. Link to comment Share on other sites More sharing options...
Daggers Posted 20 August 2012 Share Posted 20 August 2012 Stop worrying about the parent "loans" and just enjoy the football. Link to comment Share on other sites More sharing options...
Jace Posted 20 August 2012 Share Posted 20 August 2012 And by offsetting the loan against profit we are probably paying very little in tax, certainly much less than we would if it was counted as a club asset. Not that I agree with this sort of thing (unless it benefits me obviously). Also it is against the rules to just dump money into a club from nowhere, I think this came in before FFP to stop clubs like Man City just buying the league, well delay them by a couple of seasons anyway. I am sure I read that they do invest a certain amount each year, on top of loans and sponsorship deals, but in line with what they are permitted to do. Exactly shame some of the others jump to conclusions Link to comment Share on other sites More sharing options...
Mack Posted 20 August 2012 Share Posted 20 August 2012 Lifted straight from the Programme on Saturday pretty much. Link to comment Share on other sites More sharing options...
Out Foxed Posted 20 August 2012 Share Posted 20 August 2012 i heard this from another person last week. they volunteered the information up without any interrogation and out of the blue. my paranoia soon kicked in. Link to comment Share on other sites More sharing options...
Libertine Dream Posted 20 August 2012 Share Posted 20 August 2012 It was all published, it's around there This investment everyone talks about is simply the clubs future earnings, so ticket sales & TV revenues etc It's not some kind of free lunch everyone acts like it is The bright note is that they seem to have their head screwed on now & they're happy to keep under-writing their 2 season error means there's no cause for concern The only feasible way of paying it off though is promotion to the Prem, but people should realise there's a chance they've bet the future of our club on doing so... (as indeed most debt ridden clubs have) You seem to think they can just ask for the 50 million back. If they do, we go into admin, then they get next to nothing. Simon Jordan had 23 million loaned to Palace, they went into admin( he didnt choose to pu them into it) and got 175k back. Link to comment Share on other sites More sharing options...
Hack Posted 20 August 2012 Share Posted 20 August 2012 For christs sake.. I wish people would stop talking about stuff that they don't know full details of. In a nutshell, the owners cannot take money out of their own pocket and just give it to the club. For legal and tax purposes it has to be offset somehow and in this instance, its done in the form of a loan. Stop worrying about the parent "loans" and just enjoy the football. Well said. Also, what would it have cost the Thai's to buy a Premier league team instead of buying Leicester City. Yes there is a risk we may not go up, but putting in the initial purchase price plus the loans to buy players and improve the club in a number of ways is still a lot cheaper than going all in and buying an exsisting PL team. The pay off going up and hopefully staying up, is big. Link to comment Share on other sites More sharing options...
leicesterseddon Posted 21 August 2012 Share Posted 21 August 2012 Lifted straight from the Programme on Saturday pretty much. Speaking of which, did anyone else notice the number of photos of Father & Son in last Saturday's programme? Had to get to about page 6/7 (can't remember) before seeing a photo of a player or the manager. If I didn't know any better I'd say they were trying to create a personality cult... Link to comment Share on other sites More sharing options...
MooseBreath Posted 21 August 2012 Share Posted 21 August 2012 It was all published, it's around there This investment everyone talks about is simply the clubs future earnings, so ticket sales & TV revenues etc It's not some kind of free lunch everyone acts like it is That's the whole idea of investment. You put some money in now in the hope of getting a good return later. I don't think anyone has ever been under any other impression. The point is that to make a worthwhile return on their investment they will need the club to remain or at least look capable of remaining in the prem for a few years, which is also what most fans want (probably not daggers) so everybody is happy Link to comment Share on other sites More sharing options...
Chairman of the Bored Posted 21 August 2012 Share Posted 21 August 2012 So, no chance of a return for Martin George then? Link to comment Share on other sites More sharing options...
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