LCFC Announce 2011/12 Financial Results

[Macky]

I can't change it so I may as well enjoy the ride.

You can change things, just demand a wicker basket. Locally woven as well, none of your Romanian or Bulgarian rubbish. If enough of us stand up to these monsters, they'll start to take notice. It's that simple.

 

[Foxes_Trust]

How people are willingly going along with the idea that spending obscene amounts of money we don't have, like Risdale did at Leeds, is in any way a sensible method of running a club is beyond me.

Shock news - Mawsley & Foxes Trust in agreement on an issue

 

[Mawsley]

Shock news - Mawsley & Foxes Trust in agreement on an issue

Ace. If one more person joins us we can have a rubber of bridge.

 

[Chrysalis]

has anyone here read the announcement?

the debt is planned to be turned into equity, so dont worry too much over the interest rate. With all 3rd party debt paid off we actually will be debt free.

 

[Willlow]

has anyone here read the announcement?

the debt is planned to be turned into equity, so dont worry too much over the interest rate. With all 3rd party debt paid off we actually will be debt free.

Don't be silly!

It is much more fun to read what you want to read and then start scaremongering

 

[Foxes_Trust]

has anyone here read the announcement?

the debt is planned to be turned into equity, so dont worry too much over the interest rate. With all 3rd party debt paid off we actually will be debt free.

That assumes all of the loans are turned into equity, however that still doesn't solve the issue that the owners have already told the Mercury about circa £13m injected this season, whereas they can only invest £5m of equity next season to meet FFP which Susan Whelan has said we will do.

So if we aren't promoted, the wage bill must surely have to be slashed ?

 

[Biffa Bacon]

That assumes all of the loans are turned into equity, however that still doesn't solve the issue that the owners have already told the Mercury about circa £13m injected this season, whereas they can only invest £5m of equity next season to meet FFP which Susan Whelan has said we will do.

So if we aren't promoted, the wage bill must surely have to be slashed ?

I'd guess the club will arrange a preseason tour for the unwanted players and organise a 'tragic accident' on the way

 

[Miles Away]

I'd guess the club will arrange a preseason tour for the unwanted players and organise a 'tragic accident' on the way

We're gonna need a bigger bus.

 

[Han]

That assumes all of the loans are turned into equity, however that still doesn't solve the issue that the owners have already told the Mercury about circa £13m injected this season, whereas they can only invest £5m of equity next season to meet FFP which Susan Whelan has said we will do.

So if we aren't promoted, the wage bill must surely have to be slashed ?

Hasn't it already been slashed?

The salary figure in these accounts would have included the wages, and subsequent pay-offs, for Sven's ridiculously over-paid misfits, and their signing on fees, too.

As pointed out by Hazzman, it has been clear for all to see that NP has had some restraints placed on expenditure. NP himself has also said that he has tried to sign several other players but the finances did not add up so we have looked elsewhere.

It all points, hopefully, to someone actually having a plan for our sustainable future.

 

[SwedeFox]

Sven was given a lot of money and yet failed to bring enough quality players to the clubs - absolutely. But aren't the owners to blame for allowing him to sign more players at too high wages than we could actually afford in the first place?

If he was told that money wasn't a problem - which was pretty much what he said at the time - I would think that making sure the player would sign for us was a bigger priority than how much we were paying him.

I'll admit I don't know all the workings of a football club, but I was under the impression that it's not the manager's job to balance the book - he is merely asking for this or that amount of money, and the economy department will say yes or no?

 

[Biffa Bacon]

Hasn't it already been slashed?

The salary figure in these accounts would have included the wages, and subsequent pay-offs, for Sven's ridiculously over-paid misfits, and their signing on fees, too.

As pointed out by Hazzman, it has been clear for all to see that NP has had some restraints placed on expenditure. NP himself has also said that he has tried to sign several other players but the finances did not add up so we have looked elsewhere.

It all points, hopefully, to someone actually having a plan for our sustainable future.

I'd guess that Nugent, Danns, Beckford, Wellens, Gally, Kasper etc were and still are on massive wages for the division, all have at least another season left, some more big payout to come.

 

[Mawsley]

has anyone here read the announcement?

the debt is planned to be turned into equity, so dont worry too much over the interest rate. With all 3rd party debt paid off we actually will be debt free.

With a sustainable wage bill?

It isn't even slightly close to a ridiculous 60% of turnover let alone a sensible 30-35%. I'm sorry, these figures are just ****ing ridiculous irrespective of what ever constitutes "debt".

 

[FryattFox]

With a sustainable wage bill?

It isn't even slightly close to a ridiculous 60% of turnover let alone a sensible 30-35%. I'm sorry, these figures are just ****ing ridiculous irrespective of what ever constitutes "debt".

Ridiculous for a business, yes.

Not ridiculous for a football club.

Our wages are too high, but I'd expect Wellens, Danns, Beckford, etc, to all be moved on in the summer with little comparative new salaries.

 

[Biffa Bacon]

Ridiculous for a business, yes.

Not ridiculous for a football club.

Our wages are too high, but I'd expect Wellens, Danns, Beckford, etc, to all be moved on in the summer with little comparative new salaries.

How would you move them on without paying out their contracts? Massive costs still to be realised that no other club is likely to match.

 

[FryattFox]

How would you move them on without paying out their contracts? Massive costs still to be realised that no other club is likely to match.

That's probably the answer I'm afraid. But if we do it before the end of the season then it won't impact FFP next year. At the end of the day, if that's what the owners want to do, it's their money.

Ultimately we either take a hit this year, sell everyone, or fail FFP next year. Or get promoted. None of the former are great options.

 

[Matt_B]

If only the owners had some way of injecting money into the club without it being a loan or more equity. Perhaps they could buy the stadium and announce a new sponsorship deal totaling enough to meet their needs? Or if their company sponsored the shirts, they could arrange something that way.

I'm sure some of the people panicking about FFP are some of the same ones who have previously said it is unmanageable and has a lot of easy ways round it.

 

[Mawsley]

Ridiculous for a business, yes.

Not ridiculous for a football club.

I'm lost. Clubs continually refer to themselves as businesses now, and fans as customers, so what's the difference to the sensible running of a business compared to the sensible running of a club?

 

[Matt_B]

I'm lost. Clubs continually refer to themselves as businesses now, and fans as customers, so what's the difference to the sensible running of a business compared to the sensible running of a club?

It's not sensible, you are right, but it's also not unusual. The fans want to see success, the best players and fiscal responsibility. You can't have all 3 unfortunately.

 

[Biffa Bacon]

It's not sensible, you are right, but it's also not unusual. The fans want to see success, the best players and fiscal responsibility. You can't have all 3 unfortunately.

Easy. If fans want to see sucess and the best players there are teams like Barcelona, ManU, Real etc.

 

[Matt_B]

Easy. If fans want to see sucess and the best players there are teams like Barcelona, ManU, Real etc.

I agree, but the fans don't see it that way. Also, Man Utd are only marginally more stable than us, if their backer walks away they are just as much in the shit, same as Chelsea.