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Guest MattP

Would you take a mid-table finish this year with our finances back in tact?

By Guest MattP, in Leicester City Forum

  

196 members have voted

  1. 1. Mid-Table and Self-Sufficient?

    • Yes
      100
    • No
      90
    • Pearson Out
      10

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Guest MattP

Guest MattP

Posted
Posted

It appears Nigel's job as much to get us challenging for promotion as it is to get the football club back on a sound financial footing, over the last two years the club has amassed a quite obscene amount of debt for a Championship club (57million at last years accounts and thats before Mills and Beckford deals) that gives genuine fears of a Pompey style collapse should we spend any sort of serious time outside the top flight.

Although we don't have proof I think we all know that we have squad/bench players that would be other teams highest earners in this league and it's clear with our gate reciepts we would be losing a significant amount of money every week.

So I'll lay my cards on the table, I'd quite happily accept a mid-table season this year if it meant we shipped out all the high earners that weren't regular first teamers and got ourselves back onto a level where the income of the football club is somewhere close to the outgoings, if that takes another season and we start next year with Vardy, Morgan, Knockaert, Drinkwater, Moore, Marshall etc then I'd be pretty happy seeing us go for it from there without any lavish earners and increased chances of potential unrest in the squad.

Would you?

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Captain...

Captain...

Posted
Posted

I'm not that concerned with our financial situation at the moment np has got us back on track and the figures you quote don't include the stadium naming rights deal.

If we keep on playing like we did against Blackburn but results don't go our way and we end up mid table and financially sound I will be OK with that. If we play uninspiring hoof ball and end up mid table because we have gone backwards from a footballing point of view then I won't be happy.

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Mark_w

Mark_w

Posted
Posted

Yes. But I still think that we can get financially stable and be competing for a play-off position considering what we had when Nigel was last here and the success he had. But if I had to choose one or the other then obviously ensuring financial stability and making sure that there is still a club to support when I'm an old man is clearly the priority in my opinion, be it in the Premier League, Championship, League One, League Two whatever, being self sufficient is incredibly important and I don't think we should be risking that for a run in the Premier League, it's a risk probably worth taking for the owners considering what they'd gain, but as a fan I don't think it's worth risking the future of the club for a run in the Premier League.

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cc_star

cc_star

Posted
Posted

I'm not that concerned with our financial situation at the moment np has got us back on track and the figures you quote don't include the stadium naming rights deal.

If we keep on playing like we did against Blackburn but results don't go our way and we end up mid table and financially sound I will be OK with that. If we play uninspiring hoof ball and end up mid table because we have gone backwards from a footballing point of view then I won't be happy.

That's probably stuck on the slate along with the rest of money we somehow owe them for them acquiring us. Oh to be a multi-millionaire to be able to make more millions by moving 000's around on a balance sheet.

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Guest MattP

Guest MattP

Posted
Posted

I'm not that concerned with our financial situation at the moment np has got us back on track and the figures you quote don't include the stadium naming rights deal.

If we keep on playing like we did against Blackburn but results don't go our way and we end up mid table and financially sound I will be OK with that. If we play uninspiring hoof ball and end up mid table because we have gone backwards from a footballing point of view then I won't be happy.

It's certainly going to be very very interesting to see how much we got for that, my betting is it will be a blip written off against the current debt to ASI.

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theboxman1986

theboxman1986

Posted
Posted

Hmm it's a tough one to be honest. Obviously I would like us get promotion but not at all costs, if we get some of the high earners off the wage bill Beckford, SSL. and some of the fringe players Gallagher Waghorn etc and replace them with players on a lower wage and build around the likes of Drinkwater, Marshall, Moore and a few youngsters bred through the youth ranks. Given say maybe 1-2 years if we don't get promoted this year we would have a financially stable club capable of promotion which would be a win win

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Gubbins

Gubbins

Posted
Posted

Getting rid of a few of the 'high earners' will probably save us a few million a year which would hardly be enough to get the club self sufficient. Youve also got to bear in mind that around half of any savings would go on wages for the replacement players. The only way to clear any debt and get self-sufficient is to get promoted to the premier league gravy train and even then we'd have to stay their for several years without going overboard on wages and transfer fees which barely seems possible. Are any clubs really self sufficient really? Almost every club in the top two divisions spend far more than they seem to earn. The whole football finance thing makes my head hurt! :/

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Mack

Mack

Posted
Posted

Our finances wont be back intact.

We are in debt to our owners by enough to bankrupt us 10 times over.

This plan by our owners only has one positive outcome.... PROMOTION.

No promotion big man comes in suit with papers and LCFC BIG DO DO.

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Happy Fox

Happy Fox

Posted
Posted

I don't think people realize the severity of the situation imo we have to go up this season and anything less will be catastrophic, their is a new prem rights deal coming into play next season and it is imperative we get promotion to guarantee the stability and progression of the club.

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Col city fan

Col city fan

Posted
Posted

It appears Nigel's job as much to get us challenging for promotion as it is to get the football club back on a sound financial footing, over the last two years the club has amassed a quite obscene amount of debt for a Championship club (57million at last years accounts and thats before Mills and Beckford deals) that gives genuine fears of a Pompey style collapse should we spend any sort of serious time outside the top flight.

Although we don't have proof I think we all know that we have squad/bench players that would be other teams highest earners in this league and it's clear with our gate reciepts we would be losing a significant amount of money every week.

So I'll lay my cards on the table, I'd quite happily accept a mid-table season this year if it meant we shipped out all the high earners that weren't regular first teamers and got ourselves back onto a level where the income of the football club is somewhere close to the outgoings, if that takes another season and we start next year with Vardy, Morgan, Knockaert, Drinkwater, Moore, Marshall etc then I'd be pretty happy seeing us go for it from there without any lavish earners and increased chances of potential unrest in the squad.

Would you?

Yes.

It would have been interesting to see the response pre-season though...

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cc_star

cc_star

Posted
Posted

You cannot, not spend when other teams around you are having a go. Blackburn, Bolton,

£££ 70% increase next year for Premiership clubs, remember.

Thought we were a rich club ?

Why did you think we're rich, any fool can go massively in debt to spend some money?

But even talking about richness, even the Bristol City owner is about 4 times richer than ours, who are worth small change compared to many owners of Championship clubs, Forest, Blackburn, Watford, Brighton, Leeds & many, many others

even not talking about personal wealth but just looking at club fincances, in the last published accounts we were about £60m in debt which will be higher in the next published accounts, probably meaning we're the skintest club in the Championship, where technically even the clubs with no money like P'boro have more money than us. Of course the debt in itself isn't a problem of course as long as you have the money to service it & its interest, but as we know we return a loss every year so the debt will simply be getting bigger.

We've simply got some owners that have spent future year's earnings (as many fans have wanted for a long, long time) so they've put some money in, knowing that they can cream our money for years to come to pay it back... When does this payback period start, this year, next year... 10 years time. Quite simply the longer you leave it the bigger it gets, it makes sense to have a period of getting it under control...

Although it's obvious our fans don't live in the real world and celebrated our owner's spending of (for eg.) 2012/13's season ticket money without thinking about what we're going to do without that money in 2012/13, (perhaps we've spent 2014, 2015, 2020 who knows how long it will take a loss making club to make inroads into that debt. Not that I mean we physically spent that money but that is the effect of having money pushed in and then you later paying it back out of that future earning when you actually need that future earning to exist at the point in the future. Everyone likes spending money, but paying back spending isn't fun... and realistically we're probably not paying back but just reducing the rate we're adding to what we've already blown.

Blackburn & Bolton are making use of either years of Premiership money or the parachute payments, neither of which we have! So it's not really comparable what they do & in any case we spent far more than £8m on players in our squad some of whom aren't good enough to make the first 11.

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purpleronnie

purpleronnie

Posted
Posted

I would.

I'm still baffled by the favourites tag...the bookies are usually correct but this just seems crazy....last season was the same...no differencxe this season either.

Playoffs are always a possibility...but I wouldnt hold my breath, I predicted 8th and I'll stick with that.

As for financial stability it something the majority seem to not care about, spend spend spend and not think about the possible consequences.

Give me a stable club with fan involvement like swansea over the fleetwoods, man city's, crawleys, etc etc...

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