Club Finances - WOW!

[SJN-Fox]

Great news. I thought when they took over they were the Rakriaksorns. I noticed some time ago that their name changed in the programme notes. Often wondered why?

http://www.moodiereport.com/document.php?doc_id=34009

 

[FoxCovert]

http://www.moodiereport.com/document.php?doc_id=34009

Thanks SJN. Obviously very highly thought of in their homeland as well as Leicester. When they get us in the premier league maybe we should bestow them with something fitting!

 

[GazLCFC]

Thanks SJN. Obviously very highly thought of in their homeland as well as Leicester. When they get us in the premier league maybe we should bestow them with something fitting!

A minutes applause would be great.

 

[st albans fox]

i assume this wont affect our problem re FFP. converting the debt into shares will not show on the profit/loss. we are still bound to make a loss greater than 8 million this year.

 

[Matt_B]

i assume this wont affect our problem re FFP. converting the debt into shares will not show on the profit/loss. we are still bound to make a loss greater than 8 million this year.

Maybe not if we were paying £4m interest

 

[Foxes_Trust]

i assume this wont affect our problem re FFP. converting the debt into shares will not show on the profit/loss. we are still bound to make a loss greater than 8 million this year.

Susan Whelan stated at the Fans Consultative Committee at the end of November that we would achieve FFP targets. The conversion from loans to shares will remove interest due from the loans which totalled £3.9m in the 2011/12 accounts, so are estimated to be closer to £6m now.

As we mentioned on the Radio Leicester Football Forum, we also believe clubs will be allowed to rephrase contracts that were signed prior to FPP being announced, so a larger % of costs will go into the 2012/13 accounts, meaning further costs are removed from the current seasons accounts.

 

[Blaarev]

Susan Whelan stated at the Fans Consultative Committee at the end of November that we would achieve FFP targets. The conversion from loans to shares will remove interest due from the loans which totalled £3.9m in the 2011/12 accounts, so are estimated to be closer to £6m now.

As we mentioned on the Radio Leicester Football Forum, we also believe clubs will be allowed to rephrase contracts that were signed prior to FPP being announced, so a larger % of costs will go into the 2012/13 accounts, meaning further costs are removed from the current seasons accounts.

Sounds like more good news. Thank you.

 

[Joe_Fox]

I'm skint.

 

[Motown Fox]

I'm skint.

Well I bet your betting scheme isnt working so well then.

 

[Mawsley]

Now the club can afford to drop ticket prices.

 

[fitz]

Now the club can afford to drop ticket prices.

Lolz

 

[Mawsley]

I can hope

 

[Biffa Bacon]

I can hope

Don't you qualify for senior citizen discount now?

 

[Motown Fox]

Don't you qualify for senior citizen discount now?

But you can collect the "Thread of the Year award." for this thread when you get the chance

 

[drummindefender]

have they removed the debt as a way of making the club more attractive to potential buyers ?

 

[bocadillo]

have they removed the debt as a way of making the club more attractive to potential buyers ?

How would that work? The club is worth more debt-free than debt-ridden.

 

[drummindefender]

How would that work? The club is worth more debt-free than debt-ridden.

I meant in the sense a buyer would be more willing to buy a club that has no debt than one with debt

 

[Matt_B]

I meant in the sense a buyer would be more willing to buy a club that has no debt than one with debt

But the owners will now want to recoup the amount they've written off, surely?

 

[Blaarev]

But the owners will now want to recoup the amount they've written off, surely?

Would guess so if they wanted to sell.

 

[drummindefender]

But the owners will now want to recoup the amount they've written off, surely?

May just be cutting their losses before losing more money if we don't get promoted etc. I don't know I'm just cynical about this move in the long term that's all