I see that the Kirchner bid to buy the sheep-shaggers has collapsed...again...
Who we know was a prize knob but thankfully sold to the Thais. Whenever these football club ownership situations arise I pinch myself as to why OUR club got the Golden ticket.Well we did have Mandaric once.
And yet the last balance sheet filed with companies house shows that Leicester City Football Club Limited have tangible assets of £187,028,000 including a stadium valued at £41,532,000 & a training facility valued at £112,097,000. Actually as laid out in the accounts the ground is subject to a hire purchase contract with K Power Holdings (the company that bought the ground) with repayment terms contingent on which league we are in but, whatever the ins-and-outs of that, it is there on the club's [limited company] balance sheet, something Derby specifically ensured wasn't the case because they needed to see the cash in their P&L to ensure compliance with Profitability & Sustainability rules (which must feel like a sick joke to them now).Yes I think so, we don’t own very much.
That’s all well and good but it can only be done once and if it fails then the club is in a right pickle.In relation to DCFC's gamble with the stadium (as opposed to amortisation of player valuations that got them into trouble with the EFL), here it is in black & white. And it was a gamble that they nearly won. Not the only club to do this of course. It makes you wonder about the nature of the restrictions included in the transaction relating to the protection of the club's interests & the impact of them on the current situation.
There's an entertaining section in the same annual accounts lauding the impact of Frank Lampard's appointment (including social media statistics to back it up) & the greater opportunity it provides the club to "increase and further monetise commercial opportunities and assets across a wide range of areas". The sound of straws being grasped.
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