Leicester (5 Viewers)

[dongonzalos]

Went into admin

Now splashed the cash to get promotion.

Will they clear this debt via promotion

Is this what we should have done or not?

 

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[Grendel]

Or splashed the cash like QPR and will be virtually wiped out if they don't get promotion - or Forest - assuming they are still losing one million every month.

 

[SkyBlueUkeman]

Its probably not as easy as that. When we almost went into Admin last time about when Sisu "Saved us" (Oh god, we were so naive), we still had absolutely NO ASSETS to our name. It wpuldn't have been so open and shut in the case of Leicester or Southampton.

 

[RoboCCFC90]

It's so easy to say well this could of been us or what if, be the truth is it wasn't, we flipped the coin and ended up on the wrong side.


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[dongonzalos]

Or splashed the cash like QPR and will be virtually wiped out if they don't get promotion - or Forest - assuming they are still losing one million every month.

Only a million we are losing more than 1/2 a million a month a division below only spending on wages

 

[Skybluefaz]

Comparing apples and oranges is what they say init?

 

[stupot07]

Only because King Power had written off £103m. They will throw money at trying to survive next season, it won't clear any debt.

http://www.leicestermercury.co.uk/F...s-huge-debts/story-20352762-detail/story.html

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[chiefdave]

Hasn't a lot of the money put into Leicester gone in as equity rather than a loan, or at least been covered to equity? Spending millions and not having to pay it back would be a nice position for anyone to be in.

 

[stupot07]

Yep that's right dave.


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[dongonzalos]

Hasn't a lot of the money put into Leicester gone in as equity rather than a loan, or at least been covered to equity? Spending millions and not having to pay it back would be a nice position for anyone to be in.

Who did that
Owners who wanted success?

 

[mds]

Is this what we should have done or not?

Too late to ask, we should have done lots of things but didnt.
If SISU decide now they have 20m to spend getting us promoted then yes of course but they dont wont n didnt we seem to be fked and fked good n proper i just hope the next mansion they build gets completed before it burns down!

 

[Astute]

Too late to ask, we should have done lots of things but didnt.
If SISU decide now they have 20m to spend getting us promoted then yes of course but they dont wont n didnt we seem to be fked and fked good n proper i just hope the next mansion they build gets completed before it burns down!

Sounds like they are talking a risk building in the Coventry area.

 

[NortonSkyBlue]

Or splashed the cash like QPR and will be virtually wiped out if they don't get promotion - or Forest - assuming they are still losing one million every month.

well according to ransom, we were debt free at the start of the decade and are now shit loads in debt, my maths tell me we are losing far more than a million a month to accumulate our debt.

Anyway congratulations to Leicester, a great season, and enjoy your season in the premiership.

 

[chiefdave]

well according to ransom, we were debt free at the start of the decade and are now shit loads in debt, my maths tell me we are losing far more than a million a month to accumulate our debt.

Fisher stated at a fans forum less than 2 years ago that every penny put in by SISU had been converted to equity and therefore there's no debt. On that basis we're losing about £30m a year!

 

[olderskyblue]

They walked this division, now they're walking the championship. Fair play to them. What was that thread on bentleys roof when they dropped to this league? Think they deserve a similar thread by way of congratulation when promotion is clinched. (Today?)

 

[Brighton Sky Blue]

Or splashed the cash like QPR and will be virtually wiped out if they don't get promotion - or Forest - assuming they are still losing one million every month.

Forest have their lawyers on standby if they get sanctioned for breaching FFP. Pretty sure the League will back down like the spineless organisation it is.

 

[Brighton Sky Blue]

They walked this division, now they're walking the championship. Fair play to them. What was that thread on bentleys roof when they dropped to this league? Think they deserve a similar thread by way of congratulation when promotion is clinched. (Today?)

Congratulations for finding Thais to bankroll losses of £10m+ a year?

 

[RoboCCFC90]

Hasn't a lot of the money put into Leicester gone in as equity rather than a loan, or at least been covered to equity? Spending millions and not having to pay it back would be a nice position for anyone to be in.

Begs the question of why Sisu never did this when they took the Club over?

But we all know why Sisu didn't because the people Sisu did use to front their purchase of the Club were incompetent.


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[stupot07]

Begs the question of why Sisu never did this when they took the Club over?

But we all know why Sisu didn't because the people Sisu did use to front their purchase of the Club were incompetent.


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The big difference it Leicester's owner is a billionaire who has enough business interests to keep his net worth rising while pissing money he'll never get back on running a football club.

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[dongonzalos]

The big difference it Leicester's owner is a billionaire who has enough business interests to keep his net worth rising while pissing money he'll never get back on running a football club.

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Will he never get it back?

 

[stupot07]

Will he never get it back?

Probably not. I expect him to inject more cash next season to try and survive. They'll eventually get relegated with a wage budget larger than their turnover so he'll loan or inject more equity, and the cycle continues....




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[SlowerThanPlatt]

Going up as it stands

 

[SlowerThanPlatt]

The bastards are up.

 

[idris65]

For fucks sake. This season just gets better and better.

 

[Hobo]

The bastards are up.

Yeah but best team in that division this season. So well done Leicester (still can't stand you though).

 

[hill83]

Fair play to them. I wish this wasn't even a thread though.

 

[Covstu]

by far the best team in that league, they fucked it up season after season but they finally got it right. Hats off to anyone who can top the league.

 

[letsallsingtogether]

Well with our debt we must have been similar to forest will be interesting to see what we lose next season with a mini squad loan players and kids?
So yes will need to spend more or we will be fucked next season......

Then again Sisu have said they will fund us indefinitely.

Or splashed the cash like QPR and will be virtually wiped out if they don't get promotion - or Forest - assuming they are still losing one million every month.

 

[RoboCCFC90]

The big difference it Leicester's owner is a billionaire who has enough business interests to keep his net worth rising while pissing money he'll never get back on running a football club.

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I see the point that you're making but what would have promotion to the Premier League been worth to Sisu at that time? £60M? Did they pay a penny for the Club? Even if they had sold the Club off straight it or continued as owners they would have profited.


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[stupot07]

I see the point that you're making but what would have promotion to the Premier League been worth to Sisu at that time? £60M? Did they pay a penny for the Club? Even if they had sold the Club off straight it or continued as owners they would have profited.


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Problem is without assets there's a limit to what the is worth. Took Leicester's owner 4 seasons to get promotion spending over £100m+, like you said what is it worth? You get more money but that's spent onr transfers and trying to stay up - look at the accounts of the the majority of PL clubs, debt, expenditure greater than income, etc.

http://www.theguardian.com/news/datablog/2013/apr/18/premier-league-club-accounts-debt

The season we went down with a turnover of c£10.5m leicester were spending £27.7m on wages (annual losses £29.7m). Again that's fine if you have a billionaire owner who sees us as a plaything.

How long should sisu gambled? how long should they have gambled for? At which point does it no longer pay to gamble?

You get between £34-39 million (bottom to midtable) extra being in the PL, so that effective swallows up Leicester's losses and gives them £5-10m extra for signings and wage bill before they start making losses, and actually given that the existing players will be getting an automatic pay rise that could swallow that up before you've strengthened the squad.




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[Sky Blue Pete]

Part of the reason football is fucked!

£100m plus losses!!!

Crazy

 

[RoboCCFC90]

Part of the reason football is fucked!

£100m plus losses!!!

Crazy

Didn't that Leicester Troll say that they had converted that debt to Equity recently?


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[stupot07]

Didn't that Leicester Troll say that they had converted that debt to Equity recently?


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Yep, thats correct. Again, he's a billionaire who's net worth is on the rise despite pissing money away on football.

We need to ignore that way of running a club and look to more sensibly run clubs like Swansea and WBA.

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[RoboCCFC90]

Yep, thats correct. Again, he's a billionaire who's net worth is on the rise despite pissing money away on football.


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Yeah I understand that Stupot, but when looking at Sisu it's obvious they don't have the financial power of Leicester's owner, yet they picked up the Club with X amount of debt, why not convert it and have a go? That was my point, yet instead what they did was write it off, makes no sense to me why they did that.


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[stupot07]

Yeah I understand that Stupot, but when looking at Sisu it's obvious they don't have the financial power of Leicester's owner, yet they picked up the Club with X amount of debt, why not convert it and have a go? That was my point, yet instead what they did was write it off, makes no sense to me why they did that.


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There was no FFP rules back then, the only reason Leicester's owners have converted to equity is the FFP rules mean that championship are no longer allowed to lose more than £8m per annum.

In fact here it says that leicester opposed ffp:

http://www.theguardian.com/football/2014/mar/05/wage-bills-leicester-city-nottingham-forest-losses

Sisu had a mini go, splashing cash on the like of Eastwood, etc.

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