cc_star Posted 28 February 2013 Share Posted 28 February 2013 @StringerSport#lcfc financial results for 2011 (Sven's summer trolley-dash) and 2012 expected imminently. Losses likely to be £20m+ https://twitter.com/StringerSport/status/307218833062637568 Will be feeling the effects for years... Link to comment Share on other sites More sharing options...
Guest MattP Posted 28 February 2013 Share Posted 28 February 2013 I predicted our debts to be at around 80million. See how close I get. Stringer has got some front (Sven's summer trolley dash) - He's was one of the ones wanking over it and broadcasting how great it was for the football club. Link to comment Share on other sites More sharing options...
FrankieADZ Posted 28 February 2013 Share Posted 28 February 2013 https://twitter.com/...218833062637568 Will be feeling the effects for years... hate to see where we'd be if Sven was still in charge.. money wise I mean Link to comment Share on other sites More sharing options...
Col city fan Posted 28 February 2013 Share Posted 28 February 2013 https://twitter.com/StringerSport/status/307218833062637568 Will be feeling the effects for years... God knows how so many had so much affection for Sven for so long. And the Board let him do it!! Link to comment Share on other sites More sharing options...
cc_star Posted 28 February 2013 Author Share Posted 28 February 2013 God knows how so many had so much affection for Sven for so long. And the Board let him do it!! Imagine what he'd have done in the January if he wasn't sacked & when Pearson ended up signing Drinkwater & Marshall laying the foundations for this season. We'd probably have had 80 players in total costing god knows how much including a few £1m loan fee + £40k week loan deals in. Link to comment Share on other sites More sharing options...
marko Posted 28 February 2013 Share Posted 28 February 2013 Eye watering figures. Link to comment Share on other sites More sharing options...
Happy Fox Posted 28 February 2013 Share Posted 28 February 2013 That is why it is imperative we go up this season financially speaking otherwise I imagine the likes of Kasper, Nugent, Konchesky etc will leave and it will take a longer time to go up if you get what I mean. Link to comment Share on other sites More sharing options...
Tommy G Posted 28 February 2013 Share Posted 28 February 2013 Cue mass panic like last year, this is a journalists dream. Lets spout off the headline figures before even looking at them in detail. Forget about the accounts, no one can really comment on them unless they have a handle on the financials and I very much doubt Ian Stringer does. Shame because there were people last year who thought we were going bust . If the audit report is qualified then we should worry, or if there is a ceiling to which the owners are financially going to lend us. Will they put it in the accounts in any of the notes? Not a chance but it will be in their head. Will be massive losses no doubt but I'm not worried in the slightest Link to comment Share on other sites More sharing options...
Jaspa Posted 28 February 2013 Share Posted 28 February 2013 Imagine what he'd have done in the January if he wasn't sacked & when Pearson ended up signing Drinkwater & Marshall laying the foundations for this season. We'd probably have had 80 players in total costing god knows how much including a few £1m loan fee + £40k week loan deals in. Dont forget Westley Morgan either! Link to comment Share on other sites More sharing options...
Guest MattP Posted 28 February 2013 Share Posted 28 February 2013 Cue mass panic like last year, this is a journalists dream. Lets spout off the headline figures before even looking at them in detail. Forget about the accounts, no one can really comment on them unless they have a handle on the financials and I very much doubt Ian Stringer does. Shame because there were people last year who thought we were going bust . If the audit report is qualified then we should worry, or if there is a ceiling to which the owners are financially going to lend us. Will they put it in the accounts in any of the notes? Not a chance but it will be in their head. Will be massive losses no doubt but I'm not worried in the slightest You sound like a Portsmouth fan from 2008 laughing at everyone who dared question their financial situation after the FA Cup win. Link to comment Share on other sites More sharing options...
Libertine Dream Posted 28 February 2013 Share Posted 28 February 2013 Ouch but not really worried. No doubt some will scare monger Link to comment Share on other sites More sharing options...
Tommy G Posted 28 February 2013 Share Posted 28 February 2013 You should like a Portsmouth fan from 2008 laughing at everyone who dared question their financial situation after the FA Cup win. Complete bollocks, have a look at the sky revenue compared to then and now. Secondly no football club is identical to the other. Look at the state of Portsmouth and their ground, it was never ever sustainable. Plus did their owners have the same wealth profile as ours? Too many questions and a lot of bullshit Link to comment Share on other sites More sharing options...
Lineker's Left Foot Posted 28 February 2013 Share Posted 28 February 2013 Gaydamak was minted but didn't give two hoots about Pompey Link to comment Share on other sites More sharing options...
Guest MattP Posted 28 February 2013 Share Posted 28 February 2013 Complete bollocks, have a look at the sky revenue compared to then and now. Secondly no football club is identical to the other. Look at the state of Portsmouth and their ground, it was never ever sustainable. Plus did their owners have the same wealth profile as ours? Too many questions and a lot of bullshit Yes they were bringing in far more than we were in terms of revenue (I suppose I've forgot it's our divine right to pay this off by gaining our Premiership place soon) Pompey's ground had nothing to do with it, their gate receipts would have been higher than ours being in a higher division with a few less thousand. I'm glad you have trust in the owners, but no one can argue in a million years that the debt that has been racked up here should ever have been allowed to happen. No football club should run the risk of extinction should the Sugar Daddy in charge run away. Link to comment Share on other sites More sharing options...
Babylon Posted 28 February 2013 Share Posted 28 February 2013 God knows how so many had so much affection for Sven for so long. Probably because he was doing fine until the Bruma signing. Link to comment Share on other sites More sharing options...
cc_star Posted 28 February 2013 Author Share Posted 28 February 2013 Complete bollocks, have a look at the sky revenue compared to then and now. Secondly no football club is identical to the other. Look at the state of Portsmouth and their ground, it was never ever sustainable. Plus did their owners have the same wealth profile as ours? Too many questions and a lot of bullshit Our owners aren't particularly wealthy, certainly not compared to some owners in the Championship... they just seem to have naively thrown it around. Questions will be answered imminently, but in answer to your earlier question... FFP sets limits to what owners can loan it's just whether dubious sponsorship deals with King Power enable us to be loaned more money by them increasing our income through increasing their sponsorship. Because of that era are we in danger of FFP sanctions? Is the only salient point. We can't do anything about anything else and we shouldn't be too concerned either, the Thai's will be happy earning their 8% & as long as there's improvement on the pitch they'll keep repeating their mantra of "wanting to be in the Premier League, but no pressure" and the future looks better than this extravagant, wasteful & poor value past too, especially as we've got a football manager rather than a charlatan in charge now. That is... As long as the fans don't let the moronic part of their brains speak for them should we not make it. Link to comment Share on other sites More sharing options...
Tommy G Posted 28 February 2013 Share Posted 28 February 2013 Yes they were bringing in far more than we were in terms of revenue (I suppose I've forgot it's our divine right to pay this off by gaining our Premiership place soon) Pompey's ground had nothing to do with it, their gate receipts would have been higher than ours being in a higher division with a few less thousand. I'm glad you have trust in the owners, but no one can argue in a million years that the debt that has been racked up here should ever have been allowed to happen. No football club should run the risk of extinction should the Sugar Daddy in charge run away. Any evidence the Thai's are going to run away? It would be financial nonse to do so. It's like investing in something then turning round and saying actually stick it. We're not talking about a few hundred quid here. The after effects on the king power brand should they get shy? Massive Their only way out is to sell up to someone else if they wanted out and take a decent hit on their investment. There is existence of acquisitions and mergers in this country and I don't think I've ever seen anyone walk away from a business without moving it on and squeezing every last bean out of it. These guys ain't stupid, all this panic that will be on here tomorrow will be so OTT and cringy I can picture it now. Link to comment Share on other sites More sharing options...
sbfox Posted 28 February 2013 Share Posted 28 February 2013 Yes they were bringing in far more than we were in terms of revenue (I suppose I've forgot it's our divine right to pay this off by gaining our Premiership place soon) Pompey's ground had nothing to do with it, their gate receipts would have been higher than ours being in a higher division with a few less thousand. I'm glad you have trust in the owners, but no one can argue in a million years that the debt that has been racked up here should ever have been allowed to happen. No football club should run the risk of extinction should the Sugar Daddy in charge run away. Difference being was that we actually HAD a sugar-daddy. Pompey had bull*hit, lies and nothing that ever actually materialised. Let's not lose our heads quite yet... Link to comment Share on other sites More sharing options...
Guest MattP Posted 28 February 2013 Share Posted 28 February 2013 Any evidence the Thai's are going to run away? It would be financial nonse to do so. It's like investing in something then turning round and saying actually stick it. We're not talking about a few hundred quid here. The after effects on the king power brand should they get shy? Massive Their only way out is to sell up to someone else if they wanted out and take a decent hit on their investment. There is existence of acquisitions and mergers in this country and I don't think I've ever seen anyone walk away from a business without moving it on and squeezing every last bean out of it. These guys ain't stupid, all this panic that will be on here tomorrow will be so OTT and cringy I can picture it now. Are you really saying Championship football clubs should be allowed to run up substantial debts based on the fact 'the owners might not run away'? What after-effects on the King Power brand? Are you being obtuse? They have a monopoly on duty free at Bangkok airport, you really think people flying through there from all across the World will refuse to buy something on the basis a 2nd division football club in England went bust because of them? Link to comment Share on other sites More sharing options...
DorsetFox9 Posted 28 February 2013 Share Posted 28 February 2013 just for our financials to be published they will have had to prove its sustainable for the next 12 months. the years when we start getting towards the summer without our figures published is when we need to worry Link to comment Share on other sites More sharing options...
Tommy G Posted 28 February 2013 Share Posted 28 February 2013 Are you really saying Championship football clubs should be allowed to run up substantial debts based on the fact 'the owners might not run away'? What after-effects on the King Power brand? Are you being obtuse? They have a monopoly on duty free at Bangkok airport, you really think people flying through there from all across the World will refuse to buy something on the basis a 2nd division football club in England went bust because of them? Ok you can spend time worrying yourself. I'm not saying they should be "allowed" but unless I'm mistake the owners are running up debt on themselves considering they are shareholders, and I'm also not naive enough to think they couldn't get the administrators in and also walk away without personally bankrupting themselves. Everyine does thinks they are allowed to do but that's the way the world is mate, it is a unique industry where pretty much Everton are one of the last big clubs without a sugar daddy. Not saying its right but no need for people to almost hang themselves like they were last year. Link to comment Share on other sites More sharing options...
Guest MattP Posted 28 February 2013 Share Posted 28 February 2013 Ok you can spend time worrying yourself. I'm not saying they should be "allowed" but unless I'm mistake the owners are running up debt on themselves considering they are shareholders, and I'm also not naive enough to think they couldn't get the administrators in and also walk away without personally bankrupting themselves. Everyine does thinks they are allowed to do but that's the way the world is mate, it is a unique industry where pretty much Everton are one of the last big clubs without a sugar daddy. Not saying its right but no need for people to almost hang themselves like they were last year. It's the accountant in me, when you see stuff like I did last year you do worry. They could walk away without bankrupting themselves yes, that's why the company loaning the money is ASI or whatever the other they have involved is, completely separate entity to whatever King Power Group would fall under. Same as the Glazers did with Red Football Inc. (though in reality they took a huge gamble and it paid off) Everton, Arsenal, Swansea, Stoke, Tottenham, Man Utd (now) Aston Villa, West Brom, Reading, Wigan, Norwich all run there football clubs with a balance of spending budget to resources that won't endanger themselves. It's not as rare as people think. Link to comment Share on other sites More sharing options...
Dan LCFC Posted 28 February 2013 Share Posted 28 February 2013 This will finish off any arguments for keeping Sven. Link to comment Share on other sites More sharing options...
Tommy G Posted 28 February 2013 Share Posted 28 February 2013 It's the accountant in me, when you see stuff like I did last year you do worry. They could walk away without bankrupting themselves yes, that's why the company loaning the money is ASI or whatever the other they have involved is, completely separate entity to whatever King Power Group would fall under. Same as the Glazers did with Red Football Inc. (though in reality they took a huge gamble and it paid off) Everton, Arsenal, Swansea, Stoke, Tottenham, Man Utd (now) Aston Villa, West Brom, Reading, Wigan, Norwich all run there football clubs with a balance of spending budget to resources that won't endanger themselves. It's not as rare as people think. But unless they qualify the audit report then they must have got some serious plans to back the clubs for the foreseeable future I.e next 12 months. I know qualification isn't the be all and end all but it's a good indicator. I'm an accountant aswell but don't work in audit anymore hence a bit out of touch with the qualification side of things Link to comment Share on other sites More sharing options...
KingPowerLCFC1884 Posted 28 February 2013 Share Posted 28 February 2013 not too bad. Link to comment Share on other sites More sharing options...
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