Foxes Financial Results

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Nottingham Fox

Nottingham Fox

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From the OS

Leicester City Football Club have today announced their financial results for the year ending May 31 2008.

The club have posted a £14.2m loss for the period concerned - which coincided with the club's relegation to the third tier of English football for the first time in their history.

Leicester currently sit at the top of the League One table and are well positioned to make an instant return to the Championship at the first attempt.

Chief Executive Lee Hoos said: "As the club announced in March last year, these losses were expected for the 2007-08 season. This is as a result of significant spending in the playing squad during a period in which our income levels remained fairly stable.

"Since our relegation to League One the club has significantly reduced its cost base in line with the associated reductions in income.

"Our aim for this season was to gain promotion back to the Championship and we are currently in an excellent position to achieve that goal."
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I can guess where most of that £14.2m went - on a bunch of useless, overpaid, waste of space players that Martin Allen brought in.
 
Mandaric, Allen, Holloway, that c*nt who scouted for us under Allen - all guilty of terrible, awful and era defining mismanagement. About 30 players went in and out of the door in that twelve months June 2007 - May 2008. Umpteen contracts were paid off. Millions paid for poor, poor players for whom the money hasn't yet been recouped (Campbell, Clemence, Howard, Oakley, Kishishev + 14 rejects who never got a game for the club under Allen such as Kaebi, Hellings, Neilsen, Djeziri).

Decent, necessary sales over the close season (outside of the financial year) of Hume (1.2m), Stearman (2m?), McAuley (1.1m) brought in a large amount of initial capital to cushion our fall. Attendances have remained steady since then, and the squad average wage will now be much, much lower than it was, with a lot of young loanees and youth team products on not much money currently plying their trade in the squad

I would imagine that June 08 - May 09 will still see us operating at a loss of several million. But nowhere near 14million.

Promotion to the championship + the potentail sale of either Kisnorbo or Mattock will see us in not bad waters come end of May this year.

If the club does the right thing - sticks with the sensible approach of Pearson and operates cannily in signing these younger players who are carrying us up - and keeps season ticket prices frozen for one more year as a reward, we will be nigh on filling the stadium next year.

Up the foxes.
 
sparky79 said:
Mandaric, Allen, Holloway, that c*nt who scouted for us under Allen - all guilty of terrible, awful and era defining mismanagement. About 30 players went in and out of the door in that twelve months June 2007 - May 2008. Umpteen contracts were paid off. Millions paid for poor, poor players for whom the money hasn't yet been recouped (Campbell, Clemence, Howard, Oakley, Kishishev + 14 rejects who never got a game for the club under Allen such as Kaebi, Hellings, Neilsen, Djeziri).

Decent, necessary sales over the close season (outside of the financial year) of Hume (1.2m), Stearman (2m?), McAuley (1.1m) brought in a large amount of initial capital to cushion our fall. Attendances have remained steady since then, and the squad average wage will now be much, much lower than it was, with a lot of young loanees and youth team products on not much money currently plying their trade in the squad

I would imagine that June 08 - May 09 will still see us operating at a loss of several million. But nowhere near 14million.

Promotion to the championship + the potentail sale of either Kisnorbo or Mattock will see us in not bad waters come end of May this year.

If the club does the right thing - sticks with the sensible approach of Pearson and operates cannily in signing these younger players who are carrying us up - and keeps season ticket prices frozen for one more year as a reward, we will be nigh on filling the stadium next year.

Up the foxes.
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Great post, bar the highlit part - I think Howard and Oakley have been stunning this season and are major factors of us being able to realise promotion, which is worth a tidy sum.
 
Appalling mismanagement by all concerned. I genuinely feel sorry for Mandaric even though he contributed to his own loss.

I'm just glad he has taken it on the chin and has got someone with a bit of football sense now.
 
Redditch Fox said:
Appalling mismanagement by all concerned. I genuinely feel sorry for Mandaric even though he contributed to his own loss.

I'm just glad he has taken it on the chin and has got someone with a bit of football sense now.
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contributed to his own loss??. I know it was his fault. I cant post on here as there is no exact proof but having spent time talking to one of our managers last season(in the last 10 days its all his fault. i have a list as long as your arm that you would not belive if i said.
 
newtonfox said:
go on post the list :icon_wink
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a few snippets.

fact. out of the 15 summer signings. 3 were down to allen.

fact 2 players were signed who were never going to play, both through the same agent.Both from overseas clubs. read into this what you will.

Fact 3 .mr n' gotty never turned up to training on time. not once.

Fact 4. Certain players did not have eveen a basic fitness test when joining the club. After running for 5 minutes carl corts knees sweled up like cricket balls.

Fact 5. At christmas our manager asked for 6 players (2 of which were oakley and hayles). others were morgan of sheff u, sinclair from chelsea, and eagles who was at man u and someone from plymouth. all players wanted to come but there was no money. Suddenly we sign howard for £500000 more than he had already been offered at!! (same agent!
 
theyorkshirefox said:
a few snippets.

fact. out of the 15 summer signings. 3 were down to allen.

fact 2 players were signed who were never going to play, both through the same agent.Both from overseas clubs. read into this what you will.

Fact 3 .mr n' gotty never turned up to training on time. not once.

Fact 4. Certain players did not have eveen a basic fitness test when joining the club. After running for 5 minutes carl corts knees sweled up like cricket balls.

Fact 5. At christmas our manager asked for 6 players (2 of which were oakley and hayles). others were morgan of sheff u, sinclair from chelsea, and eagles who was at man u and someone from plymouth. all players wanted to come but there was no money. Suddenly we sign howard for £500000 more than he had already been offered at!! (same agent!
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Oh dear .............
 
Apparently Alliance + Leicester have withdrawn their sponsorship for next season.
 
SJN-Fox said:
Apparently Alliance + Leicester have withdrawn their sponsorship for next season.
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With the current state of the economy I don't think it's appropriate for any financial institution to give up money for sponsorship.





They should keep it all for directors bonuses instead. Hey ho, trebles all round, hic.
 
Redditch Fox said:
Appalling mismanagement by all concerned. I genuinely feel sorry for Mandaric even though he contributed to his own loss.

I'm just glad he has taken it on the chin and has got someone with a bit of football sense now.
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You have baffled me there.

Mandaric runs the club so surely it is his appalling mismanagement & therefore while feel sorry for him:102:
 
Si Nick said:
You have baffled me there.

Mandaric runs the club so surely it is his appalling mismanagement & therefore while feel sorry for him:102:
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I read these figures today and shuddered thinking of the complete lunatic who is in charge of our club.

In just two painful years he has managed to reduce the club to it's lowest ever position and add £20m in debt. That is actually incredibly difficult to do. He's had to make really bad decisions constantly.

His remarkable gift, for which I have the upmost admiration, is how he has managed to do this whilst most fans lovingly tongue his arsehole. Pure genius.
 
We the fans will bare the blunt of this as sponsors take flight!

I'm sure if we really seen what was going on behind closed doors our heads would turn....
 
shocking figures and yes mandaric is ultimately to blame.

Those claims (not facts tho without proof) by theyorkshirefox would indicate xxxxxxx xx xxxxxx xxxxxxx xxxxxxxx xxxx xx xxxxx.
 
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artic fox said:
We the fans will bare the blunt of this as sponsors take flight!
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It would have been bad enough to have had to bear the brunt of it, but your news really leafs me fealing scarred.
 
artic fox said:
We the fans will bear the brunt of this as sponsors take flight!

I'm sure if we really seen what was going on behind closed doors our heads would turn....
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Bare the Brunt:icon_redf:icon_redf:icon_redf


Point taken bocadillo :icon_wink

Trying to mulitask at work....failing badly as you have seen
 
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