Guest MattP Posted 30 August 2012 Share Posted 30 August 2012 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? Link to comment Share on other sites More sharing options...
Bob Farley Posted 30 August 2012 Share Posted 30 August 2012 duno. Link to comment Share on other sites More sharing options...
Tom17LCFC Posted 30 August 2012 Share Posted 30 August 2012 Yep, without doubt. Back on a sound financial footing and take it from there. I'm genuinely worried at the minute because if we don't go up this season, we're gonna come into a fair amount of trouble. Link to comment Share on other sites More sharing options...
EnderbyFox Posted 30 August 2012 Share Posted 30 August 2012 I would. Financial stability has to be one of our main priorities, especially after seeing what has happened recently with Pompey/Rangers Link to comment Share on other sites More sharing options...
21st Century Fox Posted 30 August 2012 Share Posted 30 August 2012 Yes, we attempted a short-term gamble with the Sven era it didn't work out, time to balance the books and build a solid, younger squad who can forge themselves through consistency. Link to comment Share on other sites More sharing options...
Believe! Posted 30 August 2012 Share Posted 30 August 2012 Not worth the risk, rather be guaranteed that our club will still be in the championship in 10 years than not exist. Link to comment Share on other sites More sharing options...
Captain... Posted 30 August 2012 Share Posted 30 August 2012 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. Link to comment Share on other sites More sharing options...
MattyFromLE Posted 30 August 2012 Share Posted 30 August 2012 Do I want my club to still be here in 10 years time without going into financial meltdown? Of course. I'd much rather us earn it - than pay for it. Link to comment Share on other sites More sharing options...
Mark_w Posted 30 August 2012 Share Posted 30 August 2012 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. Link to comment Share on other sites More sharing options...
cc_star Posted 30 August 2012 Share Posted 30 August 2012 It will take a lot longer than a year to pay £57,000,000 back (and that figure was some time ago, before people contracts were paid off & new signings arrived as well as the already existing running costs continuing to add to it Link to comment Share on other sites More sharing options...
cc_star Posted 30 August 2012 Share Posted 30 August 2012 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. Link to comment Share on other sites More sharing options...
Guest MattP Posted 31 August 2012 Share Posted 31 August 2012 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. Link to comment Share on other sites More sharing options...
theboxman1986 Posted 31 August 2012 Share Posted 31 August 2012 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 Link to comment Share on other sites More sharing options...
z-layrex Posted 31 August 2012 Share Posted 31 August 2012 I find it hard to give a ****. So demoralised with our club right now... Link to comment Share on other sites More sharing options...
Gubbins Posted 31 August 2012 Share Posted 31 August 2012 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! Link to comment Share on other sites More sharing options...
MattyFromLE Posted 31 August 2012 Share Posted 31 August 2012 I find it hard to give a ****. So demoralised with our club right now... Then sod off and support Man Utd/Man City? Link to comment Share on other sites More sharing options...
Mack Posted 31 August 2012 Share Posted 31 August 2012 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. Link to comment Share on other sites More sharing options...
ozleicester Posted 31 August 2012 Share Posted 31 August 2012 I'm a Leicester fan... i take what im given, year after year. Hope.. expectation, dreams.... but i still get city Link to comment Share on other sites More sharing options...
Happy Fox Posted 31 August 2012 Share Posted 31 August 2012 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. Link to comment Share on other sites More sharing options...
ibbosuk Posted 31 August 2012 Share Posted 31 August 2012 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 ? Link to comment Share on other sites More sharing options...
blueblood88 Posted 31 August 2012 Share Posted 31 August 2012 Then sod off and support Man Utd/Man City? Shut up, you have to admit, that year after year of the same shite, it's getting more difficult to actually give a fvck about this club. Link to comment Share on other sites More sharing options...
Col city fan Posted 31 August 2012 Share Posted 31 August 2012 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... Link to comment Share on other sites More sharing options...
cc_star Posted 31 August 2012 Share Posted 31 August 2012 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. Link to comment Share on other sites More sharing options...
purpleronnie Posted 31 August 2012 Share Posted 31 August 2012 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... Link to comment Share on other sites More sharing options...
foxesfan1989 Posted 31 August 2012 Share Posted 31 August 2012 Who says our finances are in a mess? We have millionaire owners. You people are mental, let the club worry about the finances (which i'm sure they are doing) and let us concentrate on getting behind the club to win promotion. Mid-table? Eff off. Link to comment Share on other sites More sharing options...
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