What's going on?

[webmaster]

Forest is a good example their chairman has been covering their losses for the past few years, ge probably say had choice of selling players to raise few mill or take out pocket he did the latter.

He's put a fortune into the trees in recent years, he's appointed a series of crap managers, and given them money to spend. Most of their fickle bonehead fans seem to hate him though. Despite all his investment they blame him for what's happened on the pitch. They seem to think that if they get rid of him another multi millionaire will appear like magic to pour more money into their bottomless pit.

 

[Redditch Fox]

Forest is a good example their chairman has been covering their losses for the past few years, ge probably say had choice of selling players to raise few mill or take out pocket he did the latter.

I think MG has a better chance of doing that then the current regime.

Cuts are been made for next season.

I fail to see how its attractive to invest when the max you can invest is 500k and as such probably have little impact.

I think the club would benefit a great deal if someone came along invested some millions and took the club by the scruff of its neck and makes it a force again, right now the emphasis is on the business side of the club and that isnt something I like.

I think the current set-up was a reaction to the trauma that arose when the club nearly went down the pan.

However, its not the right set up for an ambitious football club and there are too many people posturing rather than having any serious money to invest/ buy kudos for themselves.

On the footballing side, it took an awful long time for the penny to drop that Levein was a complete no-hoper - or was the delay because the club's set up inhibited sharp decision making?

As you say, because of the end of parachoute monies - cuts are going to be made and harping back to football it's interesting to note that it appears inevitable that Joey, our player of the season, will be on his way.

Of course, the reality is that even if the constitution allowed a major investor to get involved there is no guarantee that one would come along...but, on the otherhand, having rules that prevent such a possibility just seems daft.

 

[PFKAKTF FOX]

I think the current set-up was a reaction to the trauma that arose when the club nearly went down the pan.

However, its not the right set up for an ambitious football club and there are too many people posturing rather than having any serious money to invest/ buy kudos for themselves.

On the footballing side, it took an awful long time for the penny to drop that Levein was a complete no-hoper - or was the delay because the club's set up inhibited sharp decision making?

As you say, because of the end of parachoute monies - cuts are going to be made and harping back to football it's interesting to note that it appears inevitable that Joey, our player of the season, will be on his way.

Of course, the reality is that even if the constitution allowed a major investor to get involved there is no guarantee that one would come along...but, on the otherhand, having rules that prevent such a possibility just seems daft.

I think the Daily Mail story may well carry some weight, Birch goes at the end of the season, contracts typically run until May 31st, therefore we have just entered March which would equate to 3 months notice, and if my memory serves me correct the equivalent of serving the required 90 day notice for redundancy. What that says IMO is that there is more than likely going to be more than the 3 named, going.

Also the best time to rid the club of the Birch would be in the summer, no matches to protest at and it provides the club with a 2/3 month cooling off period, by the start of the new season most fans anger will have been passified by the general excitement and positivity a new season brings.

 

[Redditch Fox]

I think the Daily Mail story may well carry some weight, Birch goes at the end of the season, contracts typically run until May 31st, therefore we have just entered March which would equate to 3 months notice, and if my memory serves me correct the equivalent of serving the required 90 day notice for redundancy. What that says IMO is that there is more than likely going to be more than the 3 named, going.

Also the best time to rid the club of the Birch would be in the summer, no matches to protest at and it provides the club with a 2/3 month cooling off period, by the start of the new season most fans anger will have been passified by the general excitement and positivity a new season brings.

I'm afraid we differ on our views of the Birchenall situation. IMO he's had (to turn a phrase) good money for his run at the club. I enjoyed watching him as a player - boundless enthusiasm and energy, limited ability, an unreliable striker but surprisingly effective in midfield - but i find his humour leaden.

My concern is what happens on the pitch and taking a cold view of the situation the prospects don't look good. I don't buy the view that we should be enthused by the building of a talented young side. The track record indicates that anyone showing any real talent will be sold at the first smell of a bit of cash.

 

[PFKAKTF FOX]

I'm afraid we differ on our views of the Birchenall situation. IMO he's had (to turn a phrase) good money for his run at the club. I enjoyed watching him as a player - boundless enthusiasm and energy, limited ability, an unreliable striker but surprisingly effective in midfield - but i find his humour leaden.

My concern is what happens on the pitch and taking a cold view of the situation the prospects don't look good. I don't buy the view that we should be enthused by the building of a talented young side. The track record indicates that anyone showing any real talent will be sold at the first smell of a bit of cash.

I agree with your second paragraph of the post, and fair do's on your views of the Birchenall situation, but I still believe that, and based on the general reaction of the posts on the subject, if the redundencies were to happen before the end of the season then it would create unwanted and unneeded pressure on the board, so the best time to release bad news is when there is little opportunity for the fans to react /revolt ie the close season.

 

[Redditch Fox]

I agree with your second paragraph of the post, and fair do's on your views of the Birchenall situation, but I still believe that, and based on the general reaction of the posts on the subject, if the redundencies were to happen before the end of the season then it would create unwanted and unneeded pressure on the board, so the best time to release bad news is when there is little opportunity for the fans to react /revolt ie the close season.

Of course - I understand that. It's timed to minimise upsetting the troops. However, I don't think there would have been much hassle either way. The underlying financial issues look more interesting to me.

 

[PFKAKTF FOX]

Of course - I understand that. It's timed to minimise upsetting the troops. However, I don't think there would have been much hassle either way. The underlying financial issues look more interesting to me.

Again agree, but again the question of redundancies obviously then heightens the speculation as to the current financial position of the club, which pressurises the board to make a statement, if the financial position is worse than expected, and I have no doubt that it is, then again it would be prudent for the board to wait and announce it in the summer, IMO this is all about certain individuals self preservation.

 

[Redditch Fox]

Again agree, but again the question of redundancies obviously then heightens the speculation as to the current financial position of the club, which pressurises the board to make a statement, if the financial position is worse than expected, and I have no doubt that it is, then again it would be prudent for the board to wait and announce it in the summer, IMO this is all about certain individuals self preservation.

I don't follow the financial position closely enough to know, but: it appeared at the time that LCFC came out of administration with barely enough money to meet the requirements of the administrator and with a somewhat complex arrangement for tenancy of the stadium; as far as I am aware there has been no further major investor(s); gates have slipped reflecting overall poorer than anticipated results; the parachoute monies are finishing; the prospects for selling the current level of STs for next season do not look brilliant and at the same time match day customers are put off by the differential prices , needed for marketing purposes to favour ST holders

It's hardly rocket science to assume that the position is not too healthy.

 

[Boy Genius]

I think that you will be in a small minority then.

I don't think that there is much joy in seeing Leicester City as having about the same aspirations as Crewe, Port Vale and swindon Town.

Basically I think the more discerning supporters have sussed the current position of the club .....we are really, really struggling & yet again, I'm afraid, it needs a fresh impetus.

PFK is right. The present lot have done a good job in getting the club afloat - but as he implies with the end of the parachoute monies, they are coming to the end of the line and I just hope that things can be moved forward.

Did I say that? dont think I did. All I said was that doing a few years in the Championship might not be a bad thing.
Let the club gain confidence on and off the field.
The last time I looked Port Vale and Swindon were in lower divisions than us and it looks like Crewe are joining them. I would never say we had the same "aspirations" as them. We might be struggling but I bet there are other clubs in this division who would love to be in our shoes.

 

[Redditch Fox]

Did I say that? dont think I did. All I said was that doing a few years in the Championship might not be a bad thing.
Let the club gain confidence on and off the field.
{QUOTE]

I wish it was like that, but the financial realities because of the chasm that has opened up between the first tier (Premiership) and the second tier (so called 'Championship') means that we need to get out of this division asap.

I realise how good it would be to 'build' a team over a few years in the 'Championship' , but that would not be possible unless we had a lot more financial resources than we have under the present regime. Promising players will simply be picked off by bigger clubs.

This is not a very healthy situation for soccer - let alone for LCFC, but I think it's the reality that faces the club.

 

[Chrysalis]

Redditch is right regarding the players look at what happened to ipswich they had their strikeforce ripped apart.

 

[Foxes_Trust]

I don't follow the financial position closely enough to know, but: it appeared at the time that LCFC came out of administration with barely enough money to meet the requirements of the administrator and with a somewhat complex arrangement for tenancy of the stadium; as far as I am aware there has been no further major investor(s); gates have slipped reflecting overall poorer than anticipated results; the parachoute monies are finishing; the prospects for selling the current level of STs for next season do not look brilliant and at the same time match day customers are put off by the differential prices , needed for marketing purposes to favour ST holders

It's hardly rocket science to assume that the position is not too healthy.

In terms of financial security the club are ok, have an agreed overdraft facility with their bank which hasn't been breached.

However Tim Davies revealed at our AGM that the £1 million coming our way as Wigan will stay up is already swallowed up covering the shortfall in match ticket sales this season.

Given the parachute payment will now be ended, this cuts a further £2 million off the revenue for next season. The original plan for the Tigers ground share would have easily offset this in a mixture of shared costs saved & revised payment terms for the stadium finance arrangement.

With the majority of the remaining players contracts having 2 years+ to run, it does indicate very limited transfer activity in the summer & the increased liklihood of selling a player(s) which would attract a good fee.

Bringing in a new manager still under contract would also further dent finances.

 

[Brauny Blue]

In terms of financial security the club are ok, have an agreed overdraft facility with their bank which hasn't been breached.

However Tim Davies revealed at our AGM that the £1 million coming our way as Wigan will stay up is already swallowed up covering the shortfall in match ticket sales this season.

Given the parachute payment will now be ended, this cuts a further £2 million off the revenue for next season. The original plan for the Tigers ground share would have easily offset this in a mixture of shared costs saved & revised payment terms for the stadium finance arrangement.

With the majority of the remaining players contracts having 2 years+ to run, it does indicate very limited transfer activity in the summer & the increased liklihood of selling a player(s) which would attract a good fee.

Bringing in a new manager still under contract would also further dent finances.

So how does the club intend to improve fianances given that we are now a selling club with next to no prospects for the immediate future. Why should 15000 or so season ticket holders part company of their hard earned cash knowing that on the basis of your comments that next season will be as dire as this season. If the club are so desperate then why not slash the price of season tickets,and lets fill the ground. 10000 empty seats every week in our lovely modern ground is criminal imo. Even if the club does not make any money through the reduction of ticket prices, at least theres a chance that more merchandice( programs, food and drink, football kits and others) will be sold if more fans are attracted to the ground.

 

[PFKAKTF FOX]

In terms of financial security the club are ok, have an agreed overdraft facility with their bank which hasn't been breached.

However Tim Davies revealed at our AGM that the £1 million coming our way as Wigan will stay up is already swallowed up covering the shortfall in match ticket sales this season.

Given the parachute payment will now be ended, this cuts a further £2 million off the revenue for next season. The original plan for the Tigers ground share would have easily offset this in a mixture of shared costs saved & revised payment terms for the stadium finance arrangement.

With the majority of the remaining players contracts having 2 years+ to run, it does indicate very limited transfer activity in the summer & the increased liklihood of selling a player(s) which would attract a good fee.

Bringing in a new manager still under contract would also further dent finances.

Why do I get the impression we are being softened up for the sale of one of our better players, possibly Stearman or McCarthy. I think the best we can hope for is that some of the fringe players can be moved on in the summer, players such as Williams, Sylla, Hamill and MDV, they would no doubt attract a fee and also are likely to be decent earners, except Hamill.

I wonder at the timing of this post, seems to tie in nicely with the potential redundancy situation, could this be the clubs way of engineering fans approval for drastic cost cutting. The likes of Birch and Andrew Neville, may have escaped for npw, but I fear come the summer that will be some ruthless decisions made.

 

[Steven]

Why do I get the impression we are being softened up for the sale of one of our better players, possibly Stearman or McCarthy. I think the best we can hope for is that some of the fringe players can be moved on in the summer, players such as Williams, Sylla, Hamill and MDV, they would no doubt attract a fee and also are likely to be decent earners, except Hamill.

I wonder at the timing of this post, seems to tie in nicely with the potential redundancy situation, could this be the clubs way of engineering fans approval for drastic cost cutting. The likes of Birch and Andrew Neville, may have escaped for npw, but I fear come the summer that will be some ruthless decisions made.

True. I think we all understand now where the FT loyalties lie. :icon_conf

 

[Real Sharapova]

True. I think we all understand now where the FT loyalties lie. :icon_conf

To be fair, I think their loyalties correspond with most of the fans - we cannot go bust again, and we cannot spend money we haven't got. If a benefactor came along riding a white charger with loads of dosh, I'm sure the board would seriously consider it, but all this talk of Martin George did make me think - where was he when the club went into admin? As I have also mentioned in an earlier post, he didn't do too badly when the club floated on the Stock Exchage and he cashed in a fair proportion of his shareholding.

 

[Dunc]

To be fair, I think their loyalties correspond with most of the fans - we cannot go bust again, and we cannot spend money we haven't got. If a benefactor came along riding a white charger with loads of dosh, I'm sure the board would seriously consider it, but all this talk of Martin George did make me think - where was he when the club went into admin? As I have also mentioned in an earlier post, he didn't do too badly when the club floated on the Stock Exchage and he cashed in a fair proportion of his shareholding.

He hadn't made his £160million at the time of admin and put in what I imagine he could afford at the time, which was a lot more than you or I.

 

[Real Sharapova]

He hadn't made his £160million at the time of admin and put in what I imagine he could afford at the time, which was a lot more than you or I.

Somehow, I do not think he was short of the odd bob or two, epecially bearing in mind the money he had effectively made out of the club at floatation. Remember, he had his not inconsiderable shareholding in Weetabix as well. The shareholding he subscribed for at admin would have been nothing more than spare change for him. It's an old addage ( confirmed to me by years of working for a Chartered Accountancy practice ), that the more money people have got, the tighter they are.

 

[PFKAKTF FOX]

He hadn't made his £160million at the time of admin and put in what I imagine he could afford at the time, which was a lot more than you or I.

I dont see why all of a sudden Martin George is being criticised for his actions at the time we were in administration. As Dunc has stated his personal circumstances have changed since that time, if he is prepared to make significant investment then surely he should be encouraged and welcomed with open arms, after all we are hardly an attractive proposition, so if he does invest it certainly wouldnt be for his own personal gain, it would be with the best intentions of Leicester City at heart.

 

[Real Sharapova]

I dont see why all of a sudden Martin George is being criticised for his actions at the time we were in administration. As Dunc has stated his personal circumstances have changed since that time, if he is prepared to make significant investment then surely he should be encouraged and welcomed with open arms, after all we are hardly an attractive proposition, so if he does invest it certainly wouldnt be for his own personal gain, it would be with the best intentions of Leicester City at heart.

But who says he wants to invest? And he was hardly poor at the time of us going into admin. He could have at least put in the profits he made when he sold his shares at floatation. It seems to me he is happy at carping from the sidelines ( if Bruin is to be believed ) without putting his money where his not inconsiderably large mouth is.