So, are we actually in financial trouble or is this all a bit of a media run? I don't pretend to understand FFP, but never thought that was a problem as the FA and Premier League clearly don't either. I thought we just had far too many players for the 25 man squad and rightly wanted to cut down the numbers before adding further
I've been wittering on about our finances on here for some time. I just don't understand how the numbers are supposed to add up. Maybe they don't.
Our model of selling a player every summer and having a modest net spend on players of around £20m seemed very sensible and did us fine.
Then we decided to spend over £100m on a training ground and vomit our highest ever net spend of over >£50m last year, largely on rubbish. Whilst all the time handing out new and lucrative contracts to anybody who asked for one. All while Covid happened and our finances were hammered once again.
The result is a bloated squad with too many overpaid non-performing players in it which has been funded by loans from an Australian bank which require us to give them loads of TV money each year.
And our owner is in a business which has been obliterated by Covid and his wealth is estimated to be one third of what it was beforehand. He's a relatively inexperienced chap who has had to take huge decisions without his father around and is still grieving and dealing with all that. The trouble is that he's not Vichai and so he doesn't have the same influence or reputation in Thailand. King Power are quite vulnerable now.
As if this wasn't enough, we then announce plans to spend >£300m developing the stadium and building a mini complex of all sorts of shit. Nobody has the first clue where the money is supposed to come from for this.
All this leads me to suspect that King Power either want out, or, more likely, want a major investor to come in alongside. I can't fathom how the stadium plans were realistic without it being funded externally. The brakes are now firmly on which suggests that the money isn't there without 'someone' new coming in.
My final point is on the total silence from anyone but BR about anything to do with how the club operates. If Top, Whelan or Rudkin had the guts to do the sort of interview that BR did this week, we might be better placed as fans to see what's going on. However, none of them have said anything of interest in years. All we get from 'the club' is idiotic marketing and fluff pieces.