Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers....

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

You understand that yearly losses become debts they just don't magically disappear you know. You continue to buy players you can't afford with money you don't have and can't afford for example Danny Drinkwater. You and teams like Bolton, QPR and Forest are destroying the soul of football.

As for FFP based on your last accounts a fine of £26 million will be forthcoming it's why you're shitting yourself and threatening legal action. Cheats want to carry on cheating.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

So what are losses if they are not some form of debt to someone? Money doesn't magically appear down the back of the sofa to aloow you to spend more than you have/earn.

Also, Drinkwater, James, De Laet, Phillips, Wood... all ex-Premier League players who I daresay are on more than the average Championship wage by a considerable amount.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

If you have 200 million and make a yearly loss of 30 million you are not in debt are you.

Only Phillips of the players mentioned has ever been a Premiership regular on a big wage and I doubt he will be on a big wage at this stage of his career.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

What is surprising here, is that we appear to know more about the financial history/workings of Leicester City than it's own supporters. At least the ones posting here. I bet they'll be ten times more again looking at this and sheepishly nodding in agreement.

You're all very welcome on the board lads, but let's tell it how it is. That wasn't a football match last night, it was a clash of financial ideologies.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

At the end of the day, the gamble is working for Leicester (and their owners) - the Prem's coming with its big money rewards - now will that all go on wages etc, or will they take some out to properly make Leicester debt free ?

the problems may come if they get relegated....

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

You don't have £200 million. Unless you are saying that stadium you stole holds about 90,000 and you fill it every week?

Face it, you are up to your eyeballs in debt which is only sustainable whilst ever the bloke who you owe the money to is interested or doesn't need the money.

Personally I hope there is a retail park or housing over the Walkers Stadium within the next 10 years.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

But who 'has' the £200m? Leicester City FC or the owners of the company? If it's the latter, the football club is in debt to them. Our point is that you are in effect spending other peoples' money, and you're going to be in a hell of a pickle if they walk away. Can't understand why this doesn't concern you.

I'd imagine the money you had to spend to secure those players in the face of competition of other clubs will have seem them increase the wage they were payed at their Premier League clubs.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

I just don't get this. We had 2 players plucked from the French lower divisions. 3 players from our academy. Players from Man Utd reserves team and players bought from other Championship/League teams. You make it sound like we have bought lots of top Premiership stars. Maybe your scouting system isn't what it should be.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

So Leicester City have 200 million in the bank do they...some bloke who has no link to you and May or may not be around in 10 years time has that money. You as in Leicester City are in debt to him to hundred a of millions. Let's keep it simple I bank with HSBC they have millions, they let me have an overdraft. I spend that overdraft am I in debt to them? Course I chuffing am.

You probably pay 3 of your players more than we pay our entire starting 11.

Time to wake up and smell the coffee before there is a supermarket where you used to be.

You represent all that is wrong with football.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

How did you make a £34mill loss last season if you're being so prudent ?

Look, at the end of the day you lads are going up, and good luck, enjoy it. If for no other reason than Danny Drinkwater's a decent sort. (Vardy can boil his head) - the worry for me would be if you get relegated - how long will the owners stay loyal to the Prem level contracts you'll sign players on ? Where does the money come from then ?

Being at the behest of a 'benefactor(s)' is fine whilst things are going well.....

Nowt personal pal, its just that football's getting skewed due to money.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

You have spent over 100 million quid to get promoted live in the real world.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

http://www.onenewspage.co.uk/n/Sports/750cn10fs/Wage-bills-result-in-big-losses-at-Leicester.htm

Please note the title of the article...you spend more on wages than your entire turnover. Absolute madness.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

I take home £2500 per month. My mortgage is £3000 per month. I've got a nicer house than most.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

You are a very good side mate, not to be argued with. You've certainly not gone the same way as QPR have but let's be reight, you're not exactly scouting the lower leagues to turn players into gems are you?

Jamie Vardy - £1 million
Danny Drinkwater - £1 million
Chris Woods - £1 million

You are paying very good money for players. Don't kid yourself that you're not.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

Well it has been fun debating with you but I've got to go and have my crisps for lunch! We will agree to disagree and if we end up where Portsmouth are I will remember the comments on here.Personally I think the team that will do a Portsmouth is QPR.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

Harry Redknapp ******* a club up ? Get away with you.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

Aye and each individual costing more than our entire squad because we live with our means.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

Then where has all the money gone? Have you not asked yourselves that? Read that Guardian article posted above, your wage bill is higher than your turnover and the long term security of your club is being ebbed away. You are trying to alter FFP laws for your own benefit and to avoid a fine when you are promoted that will be equivalent to your annual loss.

As for our scouting system, we grow our own players - we have to and we invested heavily in our academy some years ago, to do just that. The latest product was sold to Everton for a massively under-valued £3m. He is now establishing himself in the first team and is widely tipped for England.

We sell players to balance the books and last year we showed a profit of almost 2 million. Ironically we played this team off the park at Oakwell, who themselves had posted a loss of £34m for the same financial year.

It is very difficult to have any sympathy with Leicester. Maybe a little on the first occasion when the Lineker consortium bailed you out. But then to let all that happen again and accrue such ridiculous debt demonstrates that no lessons have been learned and as was pointed out, a serious - almost offensive lack of humility. I thought your supporters were quite funny last night, but really it was a vulgar and enormously deluded display of false bravado.

QPR fans are now just waking up to the reality of their situation and what the consequences might be. Leicester simply won't learn until their football club disappears completely.

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

Your goal scorers and other strikers from last night will have the combined weekly wage of our entire squads monthly wage bill, add to that the goalkeepers weekly wage and that would pay our monthly wage bill for the entire club, it don't matter where you get the players from it's the money your paying them to get them in the first place that's the biggest piss take because you're doing with money that's not been generated by the club, last year you paid more for one non league player then what we've spent on in transfer fees for the last 4 seasons combined that's not fair play because you're not earning it money to do it your having it given and by doing it that way your destroying clubs

 

Re: Solvent, debt free, well ran club : 0 - 3 : £100m Debt ridden, baled out chancers

In other words you can't dispute what people are saying.