conLAD logan Posted 21 December 2013 Posted 21 December 2013 as i can remember the owner of man city effectively sponsored man city himself a huge figure just so they could continue to spend, if i remember correctly. and it is clearly a similar situation with us, this may not sound to logical, but surely we might have done something similar?
Ric Flair Posted 21 December 2013 Posted 21 December 2013 The way around it is to buy shit hot youngsters for our U21's and then promote them to the 1st team squad straight the way. Jokes, god.
conLAD logan Posted 21 December 2013 Posted 21 December 2013 I'm not even sure what any of that means to correct you, with that in mind you probably are.
Babylon Posted 21 December 2013 Posted 21 December 2013 will next season be easier now??Yes and no. We can still only make losses set by FFP.What this and the stadium purchase would mean, is that we aren't having to service both of those debts. The Stadium was costing £1m-£1.5m, and the debt could potentially have cost us 6/8% of £100m as that was the interest they charged on the loan. We still need to cut back, but not as much as we would if we were still servicing the debts. Not many clubs will have our strength (other than teams with parachute payments). As they all mostly have large debts to service. as i can remember the owner of man city effectively sponsored man city himself a huge figure just so they could continue to spend, if i remember correctly. and it is clearly a similar situation with us, this may not sound to logical, but surely we might have done something similar?No that's not what any of this means.
KFS Posted 21 December 2013 Posted 21 December 2013 They've cleared all our debt, They've cleared all out deeeeebt,, Top and Vichai, They've cleared all our debt
Devonfox1884 Posted 21 December 2013 Posted 21 December 2013 Yes and no. We can still only make losses set by FFP. What this and the stadium purchase would mean, is that we aren't having to service both of those debts. The Stadium was costing £1m-£1.5m, and the debt could potentially have cost us 6/8% of £100m as that was the interest they charged on the loan. So, basically it means we will be saving a few million a year then?! This will make FFP easier to achieve surely!!
Guest ttfn Posted 21 December 2013 Posted 21 December 2013 I'm trying to be sceptical about this but this really is great news. In reality we could never have afforded to pay off the debt anyway on our own but the fact that they now can't go mental and call it in is brilliant
Babylon Posted 21 December 2013 Posted 21 December 2013 Yes and no. We can still only make losses set by FFP. What this and the stadium purchase would mean, is that we aren't having to service both of those debts. The Stadium was costing £1m-£1.5m, and the debt could potentially have cost us 6/8% of £100m as that was the interest they charged on the loan. So, basically it means we will be saving a few million a year then?! This will make FFP easier to achieve surely!! Exactly!
foxfanazer Posted 21 December 2013 Posted 21 December 2013 Just waiting for somebody to come in and put a negative spin on it. It's the Leicester way!
cambridgefox Posted 21 December 2013 Posted 21 December 2013 We should be grateful we have owners like this,it could be so much worse.Love them.it seems like a dream,they tend to keep doing the right things,which is odd and a little unnerving as I'm waiting for the catch!
Happy Fox Posted 21 December 2013 Posted 21 December 2013 Promotion isn't so much a burden now however should we go up we will make a huge amount of profit and will become very competitive prem team
Devonfox1884 Posted 21 December 2013 Posted 21 December 2013 Thanks for the insight babylon, this is absolutely tremendous news!! Calm down guys, everything's gunna be alright!!
dog_4 Posted 21 December 2013 Posted 21 December 2013 Just before January is well! Zaha,Guidetti,Wickham all on loan and Cameron Stewart please if this means we're rich again. or if not Chris Burke,Vicente and Guidetti on loan please
OriginalRobboFOX Posted 21 December 2013 Posted 21 December 2013 What a superb Christmas present. Would imagine this is financial decision 1 in a 3 point plan. 2 being securing contracts for the players NP wants to retain and NP himself and 3 being strengthening in Jan if required. I've made it sound incredibly simple but I imagine there's lots of number crunching, forecasting, and reforecasting involved.
Lobsterboyuk Posted 21 December 2013 Posted 21 December 2013 Big step forward, love our owners for doing this. It's all on them now and the club won't be saddled with that impossible liability. Love it!
Mark_w Posted 21 December 2013 Posted 21 December 2013 Woah, if this is true then I take back everything negative I've said about the owners. I was very skeptical about their motives but it's impossible to argue with that. Incredible news.
Jon the Hat Posted 21 December 2013 Posted 21 December 2013 Wow. That is a huge statement of their commitment.
dog_4 Posted 21 December 2013 Posted 21 December 2013 forget awarding new contracts apart from Pearson,Schmeichel,Morgan and Dyer! The rest are average to league 1 standard. This is our chance to be brutal and let the dead wood that havent been able to get us up since they've been here. Awarding a new contract to players that have been here 3-4 years and haven't done anything doesn't make sence.
Larry_LCFC Posted 21 December 2013 Posted 21 December 2013 We'll be the King Power Foxes by January you watch.
Lobsterboyuk Posted 21 December 2013 Posted 21 December 2013 This season is no longer win or bust, don't reward the old guard for failing to get us up, keep looking for those young hungry players and build for the next 3 years
Babylon Posted 21 December 2013 Posted 21 December 2013 This season is no longer win or bust, don't reward the old guard for failing to get us up, keep looking for those young hungry players and build for the next 3 years It never was win or bust.
Lobsterboyuk Posted 21 December 2013 Posted 21 December 2013 We'll be the King Power Foxes by January you watch. I'd give 'em that seeing as they overpaid by 40milluon at least
Bettsj2 Posted 21 December 2013 Posted 21 December 2013 Not too clued up with the financial side of football but this seems like fantastic news on face value. Could have egg on my face with this comment but our owners do seem legit Too legit to quit.
Crinklyfox Posted 21 December 2013 Posted 21 December 2013 Fantastic. I've been worried about our debt for a long time - the potential for the club to go into decline seemed huge. This looks like our best result of the season.
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