Financial Fair Play

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Foxes_Trust

Foxes_Trust

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Discussion on this topic on the Radio Leicester Monday Night Football Forum

http://foxestrust.co.uk/2434/financial-fair-play-ffp#more-2434

This thread has been created for posters to add any specific aspects of FFP (or football finance in general) that they would like covered during the show

The thread will be reviewed until midnight Sunday night, but cannot promise any posts during Monday will have been seen prior to the show
 
I have a question. Is there a set of regulations governing the financial dealings of supporters' trusts? Oh, I have another. Is there a minimum number of members a group must have to be called a "supporters' trust"?
 
Blue Maniac said:
I have a question. Is there a set of regulations governing the financial dealings of supporters' trusts? Oh, I have another. Is there a minimum number of members a group must have to be called a "supporters' trust"?
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Good to see you are focusing on the topic which will affect the season about to unfold...

All Supporters Trust's are governed by a set of rules which were recently updated, if you follow this link
http://foxestrust.co.uk/documents

Then click on the Rules link you can download a PDF and spend a few hours reading....
 
I'd like to understand how we compare to others when it comes to FFP. As relegated sides have an advantage written into the rules, are we the most totally fecked club?

The equity v loans issue is a key one. As is the interest rate being charged by the Thai's to their loan to us and how that is written onto our balance sheet. Can we state exactly how much we're in debt? If this was recovered by the owners at their reported 8%, then surely we cannot afford any players? Based upon our turnover, what can we afford to spend on wages compared to what we are currently spending?

Also the King Power sponsorship of shirt and stadium - is it a genuine opportunity to take the piss with the rules? More generally, how easy will it be to cook the books to ensure we are not penalised? The key for FFP will be the teeth behind the rules.

If we were to go back a couple of years to us recruiting Sven, paying him a small fortune and bankrolling his recruitment plan, under FFP, is this now something that is effectively banned? Or is it really just about what type of money you use rather than the amount?
 
If the trust gives the club the fan generated funds it is holding onto are these counted as income that can be used by the club to strengthen the team?
 
Biffa Bacon said:
If the trust gives the club the fan generated funds it is holding onto are these counted as income that can be used by the club to strengthen the team?
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Perhaps we could be reminded why the trust is hanging onto money which was never theirs in the first place
 
Hold on, I've just read them there rules what FT posted a link to. Rule 22.2: "A member shall cease to be a member if they die". What kind of craziness is this?
 
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Jeff said:
Boc put some money in a bucket when the FT were collecting money when they first started. This money went towards shares when the consortium took over. When MM bought the club, the FT received some of this money back. Boc doesn't think they should have had it.
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If I was a FT member, I'd pay him back out of my own pocket just to shut the cantankerous old **** up. If it was a large amount, I'd ask the other two to chip in, obviously.
 
Maybe they could start a Boc's trust?
 
We'll need a miracle to get anywhere near the £8m limit surely? Even if the likes of St Ledger, Wellens, Gallagher, Danns and Beckford leave that's maybe what, £5 million off the wage bill? Even then they need to be replaced.

I don't see any of the big earners staying (except maybe Nugent) simply because they absolutely have to go. Even then it looks like a massive uphill task. I'm hugely concerned.
 
Jeff said:
Boc put some money in a bucket when the FT were collecting money when they first started. This money went towards shares when the consortium took over. When MM bought the club, the FT received some of this money back. Boc doesn't think they should have had it.
Click to expand...

It is inarguable that the money that I and many others put into those buckets was to support and hopefully save the football club. It was not in support of or to set up a supporter organisation of any sort.. It is wrong that the FT benefitted from this.
 
bocadillo said:
It is inarguable that the money that I and many others put into those buckets was to support and hopefully save the football club. It was not in support of or to set up a supporter organisation of any sort.. It is wrong that the FT benefitted from this.
Click to expand...

Two points to answer

a) Firstly 90% of the money raised was retained within the club when Milan Mandaric took over the club and paid shareholders 10% of their original investment (or you could say was consumed by the club during the period of ownership)

b) The remaining 10% was paid back to the Trust, and the Trust board took the decision to retain the money (along with an additional funds raised) in case of a future crisis. The board then asked members to back that decision at the Trust AGM and continues to confirm with our membership that is still their wishes at each subsequent AGM
 
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