New Accounts

[Matt_B]

Is it any worse than the figures under MM?

 

[Mawsley]

Is it any worse than the figures under MM?

Isn't he too old for that kind of thing?

I know there's Viagra and shit but really, at that age and everything? It's just wrong.

 

[Tamworth Fox]

I think its a case of; we are where we are.

 

[Macky]

I think its a case of; we are where we are.

I'd go to the ends of the Earth to avoid crass clichés like that

 

[SaintSteven]

The owner has 'loaned' the club £53 million, with an interest rate of 8%. He will need to loan us a great deal more to finance the current year. In the Premiership we'll need Premiership class players, who cost a lot. Where will the money come from to pay him back? In a year's time we'll owe more than we did when we went into administration.

 

[Mike - True Blue Tinter]

Didn't King Power pay an outrageous sum to sponsor the stadium simply to write off the debt so we did not fall foul of the Fair Play Rules? The Man City stadium did the same thing as well I thought?

 

[Redditch Fox]

The staff costs to turnover ratio of 95.5% is a red alert signal.

The owners will surely want to see that reduced but at the same time they need to get promotion if they are to have any hope of getting their money back.

I would guess that it will be a difficult and fairly long process to get staff costs down and promotion next season looks like being an imperative rather than an ambition.

I think many of us have always thought the current set up will end in tears - just depends on the extent that the owners are prepared to go before they feel that they have to cut their losses.

 

[Isopen]

The staff costs to turnover ratio of 95.5% is a red alert signal.

The owners will surely want to see that reduced but at the same time they need to get promotion if they are to have any hope of getting their money back.

I would guess that it will be a difficult and fairly long process to get staff costs down and promotion next season looks like being an imperative rather than an ambition.

I think many of us have always thought the current set up will end in tears - just depends on the extent that the owners are prepared to go before they feel that they have to cut their losses.

Remembering this is before you add the wages of Mills, Konch and all the rest of the additions over the summer and the more recent ones. Can see this being more wages than turnover in the next set of accounts

 

[Matt_B]

The staff costs to turnover ratio of 95.5% is a red alert signal.

The owners will surely want to see that reduced but at the same time they need to get promotion if they are to have any hope of getting their money back.

I would guess that it will be a difficult and fairly long process to get staff costs down and promotion next season looks like being an imperative rather than an ambition.

I think many of us have always thought the current set up will end in tears - just depends on the extent that the owners are prepared to go before they feel that they have to cut their losses.

As football fans we have a choice where our club is concerned, either demand big signings/instant success at the risk of massively overspending or accept mid table mediocrity and be financially stable. I doubt any of the top 10 in the division are much less in debt than us.

 

[fosseman]

Judging by the posts on this board I don't think folks should bother going down the KP any more. Apparently, the owners are sure to pull out and leave us in the "Portsmouth" situation. So there's no point in carrying on, is there?

 

[Redditch Fox]

As football fans we have a choice where our club is concerned, either demand big signings/instant success at the risk of massively overspending or accept mid table mediocrity and be financially stable. I doubt any of the top 10 in the division are much less in debt than us.

Frankly I don't think any of that is valid. Fans are more or less powerless and gate receipts are nothing like adequate these days to fund this type of expenditure. I would very much doubt if there are any or hardly any clubs in the division with this extent of debt and rising. I've not got the time or motivation to research this point - but it's interesting that a recent feature on the Portsmouth situation in the Daily Telegraph singled out Leicester as a Championship club with an exceptional spending profile....and how dangerous this is.

 

[Mawsley]

Judging by the posts on this board I don't think folks should bother going down the KP any more. Apparently, the owners are sure to pull out and leave us in the "Portsmouth" situation. So there's no point in carrying on, is there?

I agree, if you care about the long-term future of the club it seems to be the only sensible option.

 

[Matt_B]

Frankly I don't think any of that is valid. Fans are more or less powerless and gate receipts are nothing like adequate these days to fund this type of expenditure. I would very much doubt if there are any or hardly any clubs in the division with this extent of debt and rising. I've not got the time or motivation to research this point - but it's interesting that a recent feature on the Portsmouth situation in the Daily Telegraph singled out Leicester as a Championship club with an exceptional spending profile....and how dangerous this is.

I'd be astounded if West Ham, Brum, Reading, Cardiff, Leeds and possibly Middlesbro' aren't in very similar positions. If the reported wages of Lallana, Connelly, Lambert and Sharp are even close, then Southampton are in the same boat as well.

 

[Macky]

Judging by the posts on this board I don't think folks should bother going down the KP any more. Apparently, the owners are sure to pull out and leave us in the "Portsmouth" situation. So there's no point in carrying on, is there?

I've heard these King Powa lads are loaded so I'm sure they'll just keep giving us monies for free with nothing in return. They're lifelong City fans after all

 

[M17TT C]

Top's first ever game he watched was our League Cup triumph over 'boro - he's blates got blue blood blud!!

And re other teams - I'd imagine it would be us & West Ham the big spenders in the league by some distance. WH kind of understandable with them only just coming down from the Premiership. Brum probably next and could be quite high what with them also just being relegated but 'Boro & Reading no chance. Both run very well (Reading may change now though they look good for promotion anyway) & Leeds & Cardiff may have been at one point but they have both cutback heavily recently and Leeds have generated very decent sums selling players & replacing with cheaper options.

We shouldn't be too bad though as since Pearson's arrival we seem to be moving in a more sensible fashion and our playing squad would hold a decent figure should we find ourselves in a tricky position, not quite £46m though. It's just if we don't go up this year and if we were to spend big again in the summer we would be in a very precarious position. Guess it could come down to how dodgey the owners are and the dodgier the better I say!!

 

[RHYDAL]

I'd be astounded if West Ham, Brum, Reading, Cardiff, Leeds and possibly Middlesbro' aren't in very similar positions. If the reported wages of Lallana, Connelly, Lambert and Sharp are even close, then Southampton are in the same boat as well.

We are....lost £12m last year. We're all doomed.

 

[Kettering Pete]

Think we'd better start forming City of Leicester FC

 

[Profondo Rosso]

I agree, if you care about the long-term future of the club it seems to be the only sensible option.

Whenever you say you are concerned about the long-term future at the club on here and the shocking and unsustainable way we are currently being run you get written off as just being a doom monger.

I'd be astounded if West Ham, Brum, Reading, Cardiff, Leeds and possibly Middlesbro' aren't in very similar positions. If the reported wages of Lallana, Connelly, Lambert and Sharp are even close, then Southampton are in the same boat as well.

Even if true, those teams, Brum and West Ham aside, don't have the continual debts we have, they don't have the wage bills we have which we are losing hundreds of thousands every week. Birmingham and West Ham at least have an excuse to be on PL wage structures given they've been there recently, but we don't.

Adding over £25mil worth of debt in 8 months is absolutely ridiculous stuff and is just naive and stupid beyond belief and there certainly won't be another club in the division who've racked up such huge debts in such a short space of time. Having a wage turnover of over 100% of our income is as well.

 

[Mawsley]

Whenever you say you are concerned about the long-term future at the club on here and the shocking and unsustainable way we are currently being run you get written off as just being a doom monger.

I realise he was being sarcastic - but I'm not. I've read this on Twitter, Facebooky or somewhere this morning:

2002 - administration and £50M in debt
2012 - £48M in debt and climbing.

 

[Isopen]

I realise he was being sarcastic - but I'm not. I've read this on Twitter, Facebooky or somewhere this morning:

2002 - administration and £50M in debt
2012 - £48M in debt and climbing.

2002 - administration and £50M in debt - having received some parachute payment & further payment due
2012 - £48M in debt and climbing - no parachute funding in the near future