Financial Results 2016/17

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I thought I'd wait until the full accounts were published before commenting. Just reading them now.

For those that wonder what our owners aspirations for the club are, here are some telling comments from Susan Whelan:

The Champions League experience has 'strengthened the resolve of all involved with the Club to qualify for European Football again'

'The Club's on pitch performance in the Premier League is currently satisfactory'

'The directors monitor the performance of both management and players and have a proven record of making changes where required'

Net spend on players in year ending 31/05/17 was £57.7m

We made £120.7m from UK TV, £70m from Champions League, and gate receipts only accounted for 7% of our income.

Staff costs were up to just over £111.5m per year (up from £80.3m). Looks like Susan Whelan's salary hiked up from £158k per year to £325k.

They valued our squad at £305m.

King Power do have a mortgage on the stadium. It isn't a club asset. There is £16.6m outstanding on this.
 
Brown Nose said:
I thought I'd wait until the full accounts were published before commenting. Just reading them now.

For those that wonder what our owners aspirations for the club are, here are some telling comments from Susan Whelan:

The Champions League experience has 'strengthened the resolve of all involved with the Club to qualify for European Football again'

'The Club's on pitch performance in the Premier League is currently satisfactory'

'The directors monitor the performance of both management and players and have a proven record of making changes where required'

Net spend on players in year ending 31/05/17 was £57.7m

We made £120.7m from UK TV, £70m from Champions League, and gate receipts only accounted for 7% of our income.

Staff costs were up to just over £111.5m per year (up from £80.3m). Looks like Susan Whelan's salary hiked up from £158k per year to £325k.

They valued our squad at £305m.

King Power do have a mortgage on the stadium. It isn't a club asset. There is £16.6m outstanding on this.
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Being an accountant, and a king-sized pedant, one small correction, BN. The stadium and freehold land is owned by the club, it's in the accounts at a value of £39 million. You are right, there is a loan owed to a group company of £16.6 million secured on the property. There are other group borrowings, so the total amount owed by LCFC to group companies is £28.9 million.
 
If the owners wiped out the debt, why would they take a loan on a paid-for stadium?

Is it a tax dodge or something. They do not appear to need to borrow money with over £200million of income last year.
 
Mike - True Blue Tinter said:
If the owners wiped out the debt, why would they take a loan on a paid-for stadium?

Is it a tax dodge or something. They do not appear to need to borrow money with over £200million of income last year.
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I would imagine it was taken out before last year?
 
I thought there were some 'free' community teams mascots places, as well as premium kids of rich parents places?
 
Real Sharapova said:
Being an accountant, and a king-sized pedant, one small correction, BN. The stadium and freehold land is owned by the club, it's in the accounts at a value of £39 million. You are right, there is a loan owed to a group company of £16.6 million secured on the property. There are other group borrowings, so the total amount owed by LCFC to group companies is £28.9 million.
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Interesting thanks. So what is the logic of this move for someone that wealthy? Why bother to have loans accruing interest and a debt owed by their company to themselves?
 
Brown Nose said:
Interesting thanks. So what is the logic of this move for someone that wealthy? Why bother to have loans accruing interest and a debt owed by their company to themselves?
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Possibly to shift a bit of income to Thailand, but in the overall scheme of things it's not a great deal. The stadium loan is being repaid, I suppose they might have thought that the interest being charged on that does show a commercial reality. Other than that, I haven't a clue!
 
All looks rosey as long as we stop paying over the odds on players we are only going to be charitable and send out on loan.

Satisfactory performances Susan? yes in terms of safety but not pushing for European football. We maybe only a few points off seventh, had we shown a bit more hunger and consistency then the Europa league spot would have been rightfully ours.

I'm not convinced at this stage we will finish in seventh. Perhaps thumping BHA might alter my mood.
 
Billyjof said:
Satisfactory performances Susan? yes in terms of safety but not pushing for European football. We maybe only a few points off seventh, had we shown a bit more hunger and consistency then the Europa league spot would have been rightfully ours.
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Of course it’s satisfactory, what would you describe 8th as?

We are pushing for Europe aren’t we?

Change of manager, change of some personnel, change of playing style to boot, what would you have expected us to achieve in those circumstances?
 
camberwell fox said:
Of course it’s satisfactory,
We are pushing for Europe aren’t we?
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I dunno you tell me?

camberwell fox said:
what would you describe 8th as?
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A missed opportunity. We are 20 points off the bottom and a staggering 21 points off 4th.

Unrealistic expectations? A year ago we had a fantastic run in the Champions League and were only narrowly beaten by a much more experienced team.
 
Billyjof said:
I dunno you tell me?



A missed opportunity. We are 20 points off the bottom and a staggering 21 points off 4th.

Unrealistic expectations? A year ago we had a fantastic run in the Champions League and were only narrowly beaten by a much more experienced team.
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But we finished 12th in the league. So 8th is/would be an improvement on that.

And of course 8th is pushing for Europe. How can you consider it not to be? We're 3 points off the last European place, so yes of course we're pushing for Europe - regardless of what you make of our performances or results.

And yes, expecting us to make the top 4 this season was incredibly unrealistic expectations. If that was what you were expecting this season, no wonder you're disappointed.
 
Billyjof said:
Unrealistic expectations? A year ago we had a fantastic run in the Champions League and were only narrowly beaten by a much more experienced team.
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Of course it’s unrealistic. We won the league - once and as much as it pains me to say so - the chances of a repeat are at best slim. Champions League inclusion was a fairytale ending to a fairytale season and again fairytales are rare.

The natural order has resumed and we are by definition closer to the big six in every way than we were before THAT season, but to expect us to be higher than we are (bar one place) is setting yourself up for disappointment.

It will take a number of seasons continual improvement for us to enter and maintain a top 6 let alone a top 4 position. We are though much closer to them due in no small part to THAT season.
 
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