leicester 28 million loss

you thought we were bad




" Leicester City Football Club reports £29.7m loss "


Leicester City made a loss of nearly £30m in the last financial year, according to figures released by the football club.

The club's losses increased by £14.5m during the year ending 31 May 2012, compared to the previous 12 months.

It said increases in wages, lower ticket sales and restructuring costs all contributed to the loss.

A significant investment had been made as part of efforts to get the club back into the Premier League.

Season ticket sales for the current 2012-13 campaign remained stable in comparison with recent seasons, it added.

The club's owners, the Srivaddhanaprabha family, completed the purchase of the King Power Stadium for £17m on Friday.

Chairman Vichai Srivaddhanaprabha said: "My vision for Leicester City Football Club remains unchanged since purchasing the Club in August 2010.

"My commitment to Leicester City has been gratifyingly reciprocated by the club's loyal fans and partners, whose support continues to be valuable in helping the (it) achieve its long-term objectives."


http://www.bbc.co.uk/news/uk-england-le ... e-21640370

Nothing suprising. They spent over 1 million on a Non league striker. Idiots.

Their loss includes a one off purchase of the stadium for £17 million. If you remove that, its a million quid a month they are loosing, which is the same VT says he's putting into you lot. In fact they have a thousand a game less, through the gates, than you do, so their running costs must be very close to yours.

Xajax. Debts were upto 31-5-2012. Stadium was not purchased til very recently so will not show on this years debts. Next years it would seem are gonna be huge.

Their loss includes a one off purchase of the stadium for £17 million. If you remove that, its a million quid a month they are loosing, which is the same VT says he's putting into you lot. In fact they have a thousand a game less, through the gates, than you do, so their running costs must be very close to yours.

The stadium purchase isn't included the 2012 figures.

Their loss includes a one off purchase of the stadium for £17 million. If you remove that, its a million quid a month they are loosing, which is the same VT says he's putting into you lot. In fact they have a thousand a game less, through the gates, than you do, so their running costs must be very close to yours.

The stadium purchase isn't included the 2012 figures.

You are indeed right. Without seeing the accounts, they must have spent like drunken sailors last season, what the hell did they spend it on? And if they are spending at the same rate this year, you can add at least another £17 million to that, for this season. At that rate, they'll end up like Portsmouth or Rangers.

jeez n they probably aren't even gonna go up.

If they don't go up they are screwed, kind of like us tbh

To be honest who thought Portsmouth were spending poorly when they won the fa cup. Leicester have a decent average attendance, unlike Watford. The benefits of getting in the premiership this year are bigger than ever. The foreign owners know that.

To be honest who thought Portsmouth were spending poorly when they won the fa cup. Leicester have a decent average attendance, unlike Watford. The benefits of getting in the premiership this year are bigger than ever. The foreign owners know that.

Its not a problem if the foreign owners are in for the long haul. If they are only in to make a quick buck, and rape the club, then its a problem. I think Sam was an enthusiastic owner but he let his heart rule his head, and spent more than he should have. I've still not made my mind up about VT, but after seeing him on last weeks BBC Wales program, I don't think I'd buy a secondhand car off him!

Their loss includes a one off purchase of the stadium for £17 million. If you remove that, its a million quid a month they are loosing, which is the same VT says he's putting into you lot. In fact they have a thousand a game less, through the gates, than you do, so their running costs must be very close to yours.

1) as already pointed out , the stadium purchase hadn`t even taken place by May 2012

2) the stadium purchase which has recently been completed has not even been made by the football club as I understand reports, but by one of the other companies owned by the club`s owners - it will be rented to the club
.
3) even if purchased by the club , a £17m purchase price would not have much of an impact on annual profits as the profit and loss accounts would only show each year`s depreciation , probably over 50 years like CCFC does. So annual impact on profit would be a charge of 2% of £17m which is £340,000.

we [leeds got them on tues] it'll make or break both teams if one loses ie top 6 spot etc watch this space lol..