89.7 m losses

Whuru said:
I reiterate if Top says the club is on a strong financial footing why doubt the bloke
We are a trading loss within the Kingpower company set up
FFP is set up to ensure another club like Leicester does not break the glass ceiling
Ask the Geordies that, they have hundreds of millions to spend and can’t open the wallet
Keep cool and focus on getting promoted 😀
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That's twice you've reiterated that 😀
 
I don't understand the nitty gritty of how the finances work, but shouldn't the pain be relevantly short term rather than the longer term doom and gloom scenario's ?
We are totally fucked for the 3 years before the debts that are crushing us drop off the scale.
Points deductions, possible/probable relegation and a playing side with youths and championship/league 1 players looks inevitable.

When we have served our punishment we will be effectively back to the late 2000's situation.
We will probably still be the wealthiest club outside the Prem and hopefully that's when the fightback starts.

The problem is and always will be that the regulations restricting wealthy clubs from competing. I'm probably wrong but I just see a restriction of trade for the vast majority and a complete monopoly being allowed for the BCC's.
It needs challenging in the law courts.
 
Dont shoot the messenger but

Perhaps the FFP breach is not as bad as we think🤔
Sky said this morning the accounts with a loss of £89million is over 13 months, so one 12th of our monthly expenditure is added in that figure ( around £5/6 million)
A large amount of expenditure is related to LCFC women and payments on Seagrave.
We apparently budgeted for a 8th place finish and finished 18th, its approximately £3 million per place,
So Sky say we may be in breach by around £30 million, hence the reason we are putting up a fight 🤔
 
Thorney said:
Dont shoot the messenger but

Perhaps the FFP breach is not as bad as we think🤔
Sky said this morning the accounts with a loss of £89million is over 13 months, so one 12th of our monthly expenditure is added in that figure ( around £5/6 million)
A large amount of expenditure is related to LCFC women and payments on Seagrave.
We apparently budgeted for a 8th place finish and finished 18th, its approximately £3 million per place,
So Sky say we may be in breach by around £30 million, hence the reason we are putting up a fight 🤔
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Also don't the 2020/21 accounts have a Covid safety net and the 2021/22 figures would also include offsets for LCFC Women and Seagrave, as well as increased costs due to the knock-on effect of Covid. I think it's too early for all this pant-wetting...
 
Thorney said:
Dont shoot the messenger but

Perhaps the FFP breach is not as bad as we think🤔
Sky said this morning the accounts with a loss of £89million is over 13 months, so one 12th of our monthly expenditure is added in that figure ( around £5/6 million)
A large amount of expenditure is related to LCFC women and payments on Seagrave.
We apparently budgeted for a 8th place finish and finished 18th, its approximately £3 million per place,
So Sky say we may be in breach by around £30 million, hence the reason we are putting up a fight 🤔
Click to expand...
I was thinking it might be between £30m-£40m after deductions (the weird COVID year which was averaged over 2, depreciation, women, youth & community). I think Forest's was c£34m and Everton for 3 years to 2021/22 (the first one they got charged with) somewhere in the teens.
 
buz You have obviously spent many a happy hour in Bangkok. No Money, No Honey. :)

Susan is bringin a book out for Christmas "Don't blame me" now where have I heard that before? :)
 
So we are looking, potentially at an Everton sized punishment, but only if our lawyer fails on the other arguments we might be able to make.
 
Thorney said:
Dont shoot the messenger but

Perhaps the FFP breach is not as bad as we think🤔
Sky said this morning the accounts with a loss of £89million is over 13 months, so one 12th of our monthly expenditure is added in that figure ( around £5/6 million)
A large amount of expenditure is related to LCFC women and payments on Seagrave.
We apparently budgeted for a 8th place finish and finished 18th, its approximately £3 million per place,
So Sky say we may be in breach by around £30 million, hence the reason we are putting up a fight 🤔
Click to expand...
The headline figures are frightening and I can't see how we could argue out if them. However, your post makes more sense and gives us a bit of hope we can get out of it. Heads still need to roll among those who have been running the club though.
 
sixthswan said:
So we are looking, potentially at an Everton sized punishment, but only if our lawyer fails on the other arguments we might be able to make.
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I think we'll get something similar to Everton, albeit with the possibility of a deduction for co-operating with the independent commission, as Forest did.
 
Correct bit they did owe their owner 403 mill on loans.
They've just paid back 20 mill of it on these results
 
Two things, given that its approx £3m per Prem League place, it seems to make even less sense that we didnt get rid of Rodgers earlier. We would have more than recouped the alleged 10m with just 3 places higher, and I think we could have achieved that.

The rumored points deduction is 1 point per £10m breach. Lets hope we can offset 40-50m and then be hit with 4/5 points deduction. But, of course, this is just last year. What about the previous years??
 
wints said:
What about the previous years??
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Sorry, what about them? We were compliant with P&S. It was last year that saw us sailing past the threshold. It's this season's figures that are likely to be a problem (potentially also impacting next season or season after depending on the division we are in) and, if we do not go up, potentially next year's as our threshold drops again.
 
buz_not_buzz said:
Sorry, what about them? We were compliant with P&S. It was last year that saw us sailing past the threshold. It's this season's figures that are likely to be a problem (potentially also impacting next season or season after depending on the division we are in) and, if we do not go up, potentially next year's as our threshold drops again.
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Isn't it a three year rolling average? If we were compliant in the two years before last, doesn't that mean that there may be a surplus/balance from the previous 2 years that will also offset against some of last years deficit? Or were we compliant in '22 because of balances from the previous years.
 
wints said:
Isn't it a three year rolling average? If we were compliant in the two years before last, doesn't that mean that there may be a surplus/balance from the previous 2 years that will also offset against some of last years deficit? Or were we compliant in '22 because of balances from the previous years.
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It is total adjusted losses over each 3 year cycle not an average over the 3 years (well, apart from the 2 COVID years which were averaged to give the loss for each season but each season is added to the total for the respective 3 year cycle).
 
buz_not_buzz said:
Sure, I read that and the club's statement and the figures in the accounts themselves as well as a lot but not all of the text but I, like the BBC, don't see the actual figure. I would have thought that as it appears to have been such a significant figure as to mention it as partly attributing the increase in cost of sales to it & as an exceptional accounting item it should be called out as Everton did but no idea what non-disclosure agreements were in place with Rodgers and I assume no statutory requirement to detail as long as it is included in the overall cost of sales (as it is).
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What was he on, a reported £10m per year? How long did he have left on his contract, two, three years?

Any pay off would have been nearer to £20m than £10m in my opinion. Plus others in his back room staff.

I’d have rather put him on gardening leave and left him to rot while slowly paying off his contract.
 
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