Babylon Posted 1 March 2013 Share Posted 1 March 2013 I read somewhere a while ago that the repayments were £6 million a year in the Premier League and £3 million a year in the Championship. Not paying these amounts will help us achieve FFP I would think, as the cost of the stadium won't be included as it is an infrastructure improvement. ? More like £3m and £1m I think. Link to comment Share on other sites More sharing options...
MC Prussian Posted 1 March 2013 Share Posted 1 March 2013 They have also just announce record loses 20 odd million quid for the financial year. Just watch your ticket prices next year folks. What, are they going down then? Link to comment Share on other sites More sharing options...
Ric Flair Posted 1 March 2013 Share Posted 1 March 2013 More like £3m and £1m I think. The £1 million whilst not in the Prem was just to cover the interest I believe? I'm surprised we'd paid off £19 million of it before it all went tits up and we went in to admin. I could have sworn we owed nearly £30 million on it at that time. Did we screw over the builders and investors when we went bust and negotiated a smaller re-payment? Link to comment Share on other sites More sharing options...
Jaspa Posted 1 March 2013 Share Posted 1 March 2013 Best news Ive heard in a while, never comfortable with the mysterious Teachers group owning our ground. The only imaginable negative would be if King Power somehow turn nasty, they have us completely bent over the barrell. Link to comment Share on other sites More sharing options...
Deucalion Posted 1 March 2013 Share Posted 1 March 2013 The £1 million whilst not in the Prem was just to cover the interest I believe? I'm surprised we'd paid off £19 million of it before it all went tits up and we went in to admin. I could have sworn we owed nearly £30 million on it at that time. Did we screw over the builders and investors when we went bust and negotiated a smaller re-payment? Didn't the builders (McAlpine) say they would never work with a football club again after losing out on the Walker's Stadium? Link to comment Share on other sites More sharing options...
Ric Flair Posted 1 March 2013 Share Posted 1 March 2013 Didn't the builders (McAlpine) say they would never work with a football club again after losing out on the Walker's Stadium? That rings a bell. Either way, whether the thai's have bought it at a knockdown price from teachers or not it's positive news and i'm sure it's no coincidence with the publishing of 2011/12's accounts. The owners want to give the fans and external interest assurances of their commitment and plans. Link to comment Share on other sites More sharing options...
Simmo86 Posted 1 March 2013 Share Posted 1 March 2013 Didn't the builders (McAlpine) say they would never work with a football club again after losing out on the Walker's Stadium? Think the company was Birse and we did screw them out of a whole load of cash! Link to comment Share on other sites More sharing options...
Corky Posted 1 March 2013 Share Posted 1 March 2013 Very good news. Link to comment Share on other sites More sharing options...
Deucalion Posted 1 March 2013 Share Posted 1 March 2013 Think the company was Birse and we did screw them out of a whole load of cash! Yeah, I meant to put a question mark behind 'McAlpine' because I wasn't sure. Didn't McAlpine do the Carling Stand? So much more is possible now the club owns the ground. And also, a Coventry-esque situation isn't possible unless we really fall out with King Power. We used to sing songs to Mandaric, I think the Thai owners deserve it so much more. Link to comment Share on other sites More sharing options...
beemeroo Posted 1 March 2013 Share Posted 1 March 2013 Fantastic news. Finally our owners actually own our stadium as well, just as it should be. If they think it makes fiscal sense, I have much more faith in them than the naysayers. Yeah, I meant to put a question mark behind 'McAlpine' because I wasn't sure. Didn't McAlpine do the Carling Stand? So much more is possible now the club owns the ground. And also, a Coventry-esque situation isn't possible unless we really fall out with King Power. We used to sing songs to Mandaric, I think the Thai owners deserve it so much more. If they stopped changing their name we could get down to some serious writing! Link to comment Share on other sites More sharing options...
Babylon Posted 1 March 2013 Share Posted 1 March 2013 The £1 million whilst not in the Prem was just to cover the interest I believe? I think so yes. I'm surprised we'd paid off £19 million of it before it all went tits up and we went in to admin. I could have sworn we owed nearly £30 million on it at that time. Did we screw over the builders and investors when we went bust and negotiated a smaller re-payment? Not 100% sure how we ended up where we did to be honest. Link to comment Share on other sites More sharing options...
Chap84 Posted 1 March 2013 Share Posted 1 March 2013 Great news! I think the owners deserve a 'massive thankyou' in response to this as it definatly shows a commitment to me. We all should come up with something to show are appreciation? Link to comment Share on other sites More sharing options...
Deucalion Posted 1 March 2013 Share Posted 1 March 2013 Great news! I think the owners deserve a 'massive thankyou' in response to this as it definatly shows a commitment to me. We all should come up with something to show are appreciation? As has been said, their names don't lend themselves to song. Thank you placards? Link to comment Share on other sites More sharing options...
Chap84 Posted 1 March 2013 Share Posted 1 March 2013 As has been said, their names don't lend themselves to song. Thank you placards? Yeah there names ain't the best to work with that's for sure but I think thank you placards are probably the best idea Link to comment Share on other sites More sharing options...
Bettsj2 Posted 1 March 2013 Share Posted 1 March 2013 Up until the sacking of Sven, I was a little worried about the kid in a sweet shop approach the owners had. Since sacking Sven, they really have been superb. This is really good news. I cant think of anything they could have done that would be a bigger commitment to our future than this. Link to comment Share on other sites More sharing options...
Bettsj2 Posted 1 March 2013 Share Posted 1 March 2013 Great news! I think the owners deserve a 'massive thankyou' in response to this as it definatly shows a commitment to me. We all should come up with something to show are appreciation? Big Thai Flag with 'Thank you' at Ipswich? Link to comment Share on other sites More sharing options...
Chap84 Posted 1 March 2013 Share Posted 1 March 2013 Big Thai Flag with 'Thank you' at Ipswich? At home against Leeds would be better I think? Link to comment Share on other sites More sharing options...
darko2k7 Posted 1 March 2013 Share Posted 1 March 2013 First off great news but i have a couple of questions and i'm not moaning btw . 1 . The article as a quote saying the staidium is now under the ownership of a " Group of company's " thought we were solely owned by KP and not AFI any more ? 2 . Do Leicester City now own the stadium or King power and therefore using it like a loan back to us for another 8% profit say ? 3 . Or am i look at it to deeply ? Once again I'm not moaning, just some questions ! Link to comment Share on other sites More sharing options...
davieG Posted 1 March 2013 Share Posted 1 March 2013 First off great news but i have a couple of questions and i'm not moaning btw . 1 . The article as a quote saying the staidium is now under the ownership of a " Group of company's " thought we were solely owned by KP and not AFI any more ? 2 . Do Leicester City now own the stadium or King power and therefore using it like a loan back to us for another 8% profit say ? 3 . Or am i look at it to deeply ? Once again I'm not moaning, just some questions ! There's certainly been instances of 'owners' buying stadiums and then leasing them to the FC and cases further than that when the 'owner's have sold the football club they still own the ground and the football club has had to continue to pay to use it and in severe cases had the ground sold or the threat of it being from under them. I can't remember who the clubs were and the eventual outcome. Link to comment Share on other sites More sharing options...
davieG Posted 1 March 2013 Share Posted 1 March 2013 http://foxblogger.wordpress.com/2013/03/01/what-the-stadium-deal-means-for-leicester-citys-finances/? Link to comment Share on other sites More sharing options...
Deucalion Posted 1 March 2013 Share Posted 1 March 2013 Just read through the official statement again and it only mentions K Power Holdings, which is the holding company we already knew about. If anyone wants to get paranoid about anything, then try this. Vishai says that 'eliminating third party debt' allows flexibility and a platform for growth. You could read that as debt still exists but not to a third party. Link to comment Share on other sites More sharing options...
Bayfox Posted 1 March 2013 Share Posted 1 March 2013 Just said on the news the the purchase was in the region of £17million. Great add that to the debts and 8% interest rate.I'm not being negative on purpose and I can see the positives, but this blue tinted outlook our fans have is a reason for concern, all it means is for those who doubt the owners intentions, IF they did decide to walk away, they now own a decent bit of land.Hope this isn't the case. Link to comment Share on other sites More sharing options...
Deucalion Posted 1 March 2013 Share Posted 1 March 2013 http://foxblogger.wo...itys-finances/? We won't find out whether the stadium purchase is included as debt to the owners until the accounts are released next year, will we? Link to comment Share on other sites More sharing options...
Harry - LCFC Posted 1 March 2013 Share Posted 1 March 2013 I don't think this won't have any effect on how we're doing with FFP either as any money spent on the stadium isn't considered in the club's outgoings for FFP. Link to comment Share on other sites More sharing options...
igorman Posted 1 March 2013 Share Posted 1 March 2013 @davieG - Crystal palace prolly being the most famous ..Ron Noades was it ? Brightons got sold from underneath them i think Link to comment Share on other sites More sharing options...
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