Donet know how a EPL club can make losses?
How much r the playetrs paid?
99P - you've missed out a significant issue - the management believing the hype around the Rodgers project and putting complete faith in a manager who, based on results, is not up to the task.
Very true Nuneaton - of course that’s another major reason we are where we are now. It’s compounding the situation by presenting us with the very real prospect of championship football rather than continuing PL money which could help the club rebuild.
Part of this also comes down to dreadful mismanagement of player contracts and wages by Rudkin. The average player salary is £84k and last season we had the 8th highest wage bill. When you look at some of the players on the books that’s a head scratcher
We’re paying Vardy an eye-watering £160k a week to mostly sit on the bench. That’s absolutely criminal given his age and a club our size just can’t afford to do that.
And by the way because we stupidly gave a 35 year old a 2 year contract last year - we’re stuck paying him £160k a week when we’re in the championship next season. Absolutely unbelievable the way this club has been run under Top in the last 2 years
Surely there are some decent players on the books that could be sold to recoup some money?
Is it this year that Tielemans’ contract ends of next?
comment by Boy F7-0m The South (U3979)
posted 56 minutes ago
Surely there are some decent players on the books that could be sold to recoup some money?
Is it this year that Tielemans’ contract ends of next?
----------------------------------------------------------------------
This year so we'll get nothing for him. Zero. Zilch. That's how poor a DoF Rudkin is. We'll also have to sell Maddison in the summer to get a decent return otherwise he'll be off next year on a free.
Another day, another bad news story for Leicester City. Why would Rob Tanner keep doing such a thing?
These tweets caught my eye:
"#lcfc announce record losses of £92.5m for 2021/22. Key factor: they didn’t sell a big player - Fofana to #cfc will be in next year’s accounts."
"#lcfc bought Daka, Soumare and Vestergaard for almost £60m combined in this period, and significantly increased wage bill for whole squad. Deliberate attempt to follow up FA Cup win and 2nd season in Europe, but losses cannot be sustained at this level."
Blows a pretty big hole in the "I haven't been backed" narrative. £60m spent and not a single signing during that window has improved us:
Vestergaard - Utter disaster. BTW he has confirmed recently that Rodgers had been tracking him for 18 months, so not one that can be written off as a recruitment error.
Bertrand - Utter disaster No.2. Permanent crock. Knew Rodgers from the Chelsea academy and Reading loan. Only thing that would make this signing worse would be if he came with £20bn worth of unusable PPI. £80k a week
Daka - Good prospect, been Rodgered by poor tactics, a system that limits him and not having a partner to work with. Will probably end up being sold.
Soumare - Beyond useless. One good game so far. Soumare is what you get when you order Papy Mendy on Wish.
Brendan, you weren't backed last summer because you helped oversee a recruitment drive that practically bankrupted us 12 months earlier and left us on the brink of FFP punishments. Get lost you fraud.
Anyway, all is well here. Nothing to see. Please disperse, otherwise James Maddison will have a strongly worded tweet for us.
Foxello highlights the issue. We backed Rodgers’ project and it failed. We managed contracts badly and we’re left to clean up the mess.
However we then sold Fofana and started to balance the books. Problem was Rodgers’ project was already failing.
I’m not alarmed by the figure - we knew it was coming. I’m worried the plan we have in place to fix it involves Rodgers.
Grim.
It’s a bit of a revisionist assessment. Yes Rodgers was backed in the summer of 2021. Remember there is a recruitment team in place - he doesn’t individually go and sign players. If you remember the club rather stupidly appointed Lee Congerton who was in charge for this period (and yes that’s on Rodgers recommendation) but it’s a club appointment
All contracts are negotiated by the club. The decision not to sell a major asset (bonkers given FFP) is a club decision.
Rodgers has never stated he wasn’t backed last season - he’s only harped on about this season. He hasn’t been backed this season because the club have spent money they didn’t really have to take a gamble on getting europe.
No question it’s the Rodgers project, but he doesn’t balance the books - the board have that responsibility and they have well and truly failed the fans
I mean did Rodgers negotiate Vardys two year at extension at £160 a week? Did he let Tielemans contract run down when the right time to sell him was after the FA cup? Did he let Soyuncus contract run down? Or Amartey?
He’s totally responsible for results on the pitch - but he’s not the custodian of Leicester City. He’s been enabled at every turn and is STILL backed by our useless owner, even now
From a business perspective, you can see why Top would look at the net spend of £60m in 2021 and think "well actually, I'd quite like to see some ROI on that before I give him more money to spend". The problem is that the net result of 2021 and 2022 is that we went two summers without strengthening the team - which, at this level, will see you fall from European challengers to relegation strugglers.
I won't defend Top as he has made a lot of mistakes and we are paying the price for them now, both on and off the pitch. But it is the Rodgers Project that has, primarily, put us in this position. Top continuing with this project just shows me that he lacks the judgement needed for a chairman and owner.
What's even worse is that far from defending the club and setting a counter-narrative to Rodgers' PR operation, he seems to agree with it! If the fans do turn on the ownership, it is his insistence on sticking with and supporting Rodgers that will be the catalyst.
It’s the £60m net spend decision that was the big gamble as well the wages these players were signed on. You just don’t do that when your previous loss was nearly £70m I believe.
The smart strategy is to sell Tielemans and re-invest that way. Ok we’d have still made mistakes on recruitment but we’d have been in a position to rectify that the following season instead of compounding it by signing 1 player in 18 months
Absolutely rubbish way to run a club - just look at how well Brighton are it right now and where we are headed
comment by Foxello (U6985)
posted 1 hour, 54 minutes ago
From a business perspective, you can see why Top would look at the net spend of £60m in 2021 and think "well actually, I'd quite like to see some ROI on that before I give him more money to spend". The problem is that the net result of 2021 and 2022 is that we went two summers without strengthening the team - which, at this level, will see you fall from European challengers to relegation strugglers.
I won't defend Top as he has made a lot of mistakes and we are paying the price for them now, both on and off the pitch. But it is the Rodgers Project that has, primarily, put us in this position. Top continuing with this project just shows me that he lacks the judgement needed for a chairman and owner.
What's even worse is that far from defending the club and setting a counter-narrative to Rodgers' PR operation, he seems to agree with it!If the fans do turn on the ownership, it is his insistence on sticking with and supporting Rodgers that will be the catalyst.
----------------------------------------------------------------------
100% aligned with this
You’re 100% aligned with the statement that Top lacks the judgement needed for a chairman or owner Mesey?
comment by 99 Problems (Top - invest in the squad and sack Rodgers) (U12353)
posted 2 hours, 8 minutes ago
You’re 100% aligned with the statement that Top lacks the judgement needed for a chairman or owner Mesey?
----------------------------------------------------------------------
In that the biggest lack of judgement Top has made is sticking with Rodgers and this could ultimately be his downfall!
comment by Merseysidefox (U4842)
posted 20 minutes ago
comment by 99 Problems (Top - invest in the squad and sack Rodgers) (U12353)
posted 2 hours, 8 minutes ago
You’re 100% aligned with the statement that Top lacks the judgement needed for a chairman or owner Mesey?
----------------------------------------------------------------------
In that the biggest lack of judgement Top has made is sticking with Rodgers and this could ultimately be his downfall!
----------------------------------------------------------------------
And the second biggest lack of judgement was to take a financial gamble when we’d just recorded a significant loss, chasing Europe when we were clearly going to be in trouble if it didn’t come off
The third biggest lack of judgement has been to stay virtually silent during the most turbulent season the club has had since being promoted and to stop engaging with the fans
His 4th was arguably keeping Rudkin in post. A man who has single-handedly failed one of the fundamentals of his job - over and again, managing player contracts
You see how all these lack of judgements start adding up to someone who really hasn’t got the foggiest how to take the club forward?
I don’t disagree with any of that 99 but it’s one sided.
You haven’t talked about the training ground investment, ground extension and plans to increase commercial revenue to reinvest in the club.
Yes mistakes have been made as you articulate, but to say he hasn’t got a clue isn’t right for me.
comment by Merseysidefox (U4842)
posted 26 minutes ago
I don’t disagree with any of that 99 but it’s one sided.
You haven’t talked about the training ground investment, ground extension and plans to increase commercial revenue to reinvest in the club.
Yes mistakes have been made as you articulate, but to say he hasn’t got a clue isn’t right for me.
----------------------------------------------------------------------
Remember Foxellos point about not viewing the King Power tenure as one continuous period? That’s exactly what you’re doing and you do it all the time!
The new training complex was planned and initiated under Vichai not Top. The extension of the stadium was initiated with Vichai as chairman - not Top. These projects were well under way with planning permission submitted and funding arranged before Vichai passed away. Top has inherited them. Just because he hasn’t binned them off, it doesn’t mean they are his ideas, his projects and his initiatives
Look at when the mistakes started to happen. Were they under Vichai or have they been under Tops tenure? It’s absolutely staggering to me that you just can’t separate Vichai and Tops tenure and you can’t seem to identify where the cracks have started to appear
Page 1 of 1
First
Previous
1
Next
Latest
Sign in if you want to comment
Leicester announce record losses of £92m
Page 1 of 1
posted on 8/3/23
Donet know how a EPL club can make losses?
How much r the playetrs paid?
posted on 8/3/23
99P - you've missed out a significant issue - the management believing the hype around the Rodgers project and putting complete faith in a manager who, based on results, is not up to the task.
posted on 8/3/23
Very true Nuneaton - of course that’s another major reason we are where we are now. It’s compounding the situation by presenting us with the very real prospect of championship football rather than continuing PL money which could help the club rebuild.
Part of this also comes down to dreadful mismanagement of player contracts and wages by Rudkin. The average player salary is £84k and last season we had the 8th highest wage bill. When you look at some of the players on the books that’s a head scratcher
We’re paying Vardy an eye-watering £160k a week to mostly sit on the bench. That’s absolutely criminal given his age and a club our size just can’t afford to do that.
posted on 8/3/23
And by the way because we stupidly gave a 35 year old a 2 year contract last year - we’re stuck paying him £160k a week when we’re in the championship next season. Absolutely unbelievable the way this club has been run under Top in the last 2 years
posted on 8/3/23
Surely there are some decent players on the books that could be sold to recoup some money?
Is it this year that Tielemans’ contract ends of next?
posted on 8/3/23
comment by Boy F7-0m The South (U3979)
posted 56 minutes ago
Surely there are some decent players on the books that could be sold to recoup some money?
Is it this year that Tielemans’ contract ends of next?
----------------------------------------------------------------------
This year so we'll get nothing for him. Zero. Zilch. That's how poor a DoF Rudkin is. We'll also have to sell Maddison in the summer to get a decent return otherwise he'll be off next year on a free.
posted on 8/3/23
Another day, another bad news story for Leicester City. Why would Rob Tanner keep doing such a thing?
These tweets caught my eye:
"#lcfc announce record losses of £92.5m for 2021/22. Key factor: they didn’t sell a big player - Fofana to #cfc will be in next year’s accounts."
"#lcfc bought Daka, Soumare and Vestergaard for almost £60m combined in this period, and significantly increased wage bill for whole squad. Deliberate attempt to follow up FA Cup win and 2nd season in Europe, but losses cannot be sustained at this level."
Blows a pretty big hole in the "I haven't been backed" narrative. £60m spent and not a single signing during that window has improved us:
Vestergaard - Utter disaster. BTW he has confirmed recently that Rodgers had been tracking him for 18 months, so not one that can be written off as a recruitment error.
Bertrand - Utter disaster No.2. Permanent crock. Knew Rodgers from the Chelsea academy and Reading loan. Only thing that would make this signing worse would be if he came with £20bn worth of unusable PPI. £80k a week
Daka - Good prospect, been Rodgered by poor tactics, a system that limits him and not having a partner to work with. Will probably end up being sold.
Soumare - Beyond useless. One good game so far. Soumare is what you get when you order Papy Mendy on Wish.
Brendan, you weren't backed last summer because you helped oversee a recruitment drive that practically bankrupted us 12 months earlier and left us on the brink of FFP punishments. Get lost you fraud.
Anyway, all is well here. Nothing to see. Please disperse, otherwise James Maddison will have a strongly worded tweet for us.
posted on 8/3/23
Foxello highlights the issue. We backed Rodgers’ project and it failed. We managed contracts badly and we’re left to clean up the mess.
However we then sold Fofana and started to balance the books. Problem was Rodgers’ project was already failing.
I’m not alarmed by the figure - we knew it was coming. I’m worried the plan we have in place to fix it involves Rodgers.
Grim.
posted on 8/3/23
It’s a bit of a revisionist assessment. Yes Rodgers was backed in the summer of 2021. Remember there is a recruitment team in place - he doesn’t individually go and sign players. If you remember the club rather stupidly appointed Lee Congerton who was in charge for this period (and yes that’s on Rodgers recommendation) but it’s a club appointment
All contracts are negotiated by the club. The decision not to sell a major asset (bonkers given FFP) is a club decision.
Rodgers has never stated he wasn’t backed last season - he’s only harped on about this season. He hasn’t been backed this season because the club have spent money they didn’t really have to take a gamble on getting europe.
No question it’s the Rodgers project, but he doesn’t balance the books - the board have that responsibility and they have well and truly failed the fans
posted on 8/3/23
I mean did Rodgers negotiate Vardys two year at extension at £160 a week? Did he let Tielemans contract run down when the right time to sell him was after the FA cup? Did he let Soyuncus contract run down? Or Amartey?
He’s totally responsible for results on the pitch - but he’s not the custodian of Leicester City. He’s been enabled at every turn and is STILL backed by our useless owner, even now
posted on 8/3/23
From a business perspective, you can see why Top would look at the net spend of £60m in 2021 and think "well actually, I'd quite like to see some ROI on that before I give him more money to spend". The problem is that the net result of 2021 and 2022 is that we went two summers without strengthening the team - which, at this level, will see you fall from European challengers to relegation strugglers.
I won't defend Top as he has made a lot of mistakes and we are paying the price for them now, both on and off the pitch. But it is the Rodgers Project that has, primarily, put us in this position. Top continuing with this project just shows me that he lacks the judgement needed for a chairman and owner.
What's even worse is that far from defending the club and setting a counter-narrative to Rodgers' PR operation, he seems to agree with it! If the fans do turn on the ownership, it is his insistence on sticking with and supporting Rodgers that will be the catalyst.
posted on 8/3/23
It’s the £60m net spend decision that was the big gamble as well the wages these players were signed on. You just don’t do that when your previous loss was nearly £70m I believe.
The smart strategy is to sell Tielemans and re-invest that way. Ok we’d have still made mistakes on recruitment but we’d have been in a position to rectify that the following season instead of compounding it by signing 1 player in 18 months
Absolutely rubbish way to run a club - just look at how well Brighton are it right now and where we are headed
posted on 8/3/23
comment by Foxello (U6985)
posted 1 hour, 54 minutes ago
From a business perspective, you can see why Top would look at the net spend of £60m in 2021 and think "well actually, I'd quite like to see some ROI on that before I give him more money to spend". The problem is that the net result of 2021 and 2022 is that we went two summers without strengthening the team - which, at this level, will see you fall from European challengers to relegation strugglers.
I won't defend Top as he has made a lot of mistakes and we are paying the price for them now, both on and off the pitch. But it is the Rodgers Project that has, primarily, put us in this position. Top continuing with this project just shows me that he lacks the judgement needed for a chairman and owner.
What's even worse is that far from defending the club and setting a counter-narrative to Rodgers' PR operation, he seems to agree with it!If the fans do turn on the ownership, it is his insistence on sticking with and supporting Rodgers that will be the catalyst.
----------------------------------------------------------------------
100% aligned with this
posted on 8/3/23
You’re 100% aligned with the statement that Top lacks the judgement needed for a chairman or owner Mesey?
posted on 8/3/23
comment by 99 Problems (Top - invest in the squad and sack Rodgers) (U12353)
posted 2 hours, 8 minutes ago
You’re 100% aligned with the statement that Top lacks the judgement needed for a chairman or owner Mesey?
----------------------------------------------------------------------
In that the biggest lack of judgement Top has made is sticking with Rodgers and this could ultimately be his downfall!
posted on 8/3/23
comment by Merseysidefox (U4842)
posted 20 minutes ago
comment by 99 Problems (Top - invest in the squad and sack Rodgers) (U12353)
posted 2 hours, 8 minutes ago
You’re 100% aligned with the statement that Top lacks the judgement needed for a chairman or owner Mesey?
----------------------------------------------------------------------
In that the biggest lack of judgement Top has made is sticking with Rodgers and this could ultimately be his downfall!
----------------------------------------------------------------------
And the second biggest lack of judgement was to take a financial gamble when we’d just recorded a significant loss, chasing Europe when we were clearly going to be in trouble if it didn’t come off
The third biggest lack of judgement has been to stay virtually silent during the most turbulent season the club has had since being promoted and to stop engaging with the fans
His 4th was arguably keeping Rudkin in post. A man who has single-handedly failed one of the fundamentals of his job - over and again, managing player contracts
You see how all these lack of judgements start adding up to someone who really hasn’t got the foggiest how to take the club forward?
posted on 9/3/23
I don’t disagree with any of that 99 but it’s one sided.
You haven’t talked about the training ground investment, ground extension and plans to increase commercial revenue to reinvest in the club.
Yes mistakes have been made as you articulate, but to say he hasn’t got a clue isn’t right for me.
posted on 9/3/23
comment by Merseysidefox (U4842)
posted 26 minutes ago
I don’t disagree with any of that 99 but it’s one sided.
You haven’t talked about the training ground investment, ground extension and plans to increase commercial revenue to reinvest in the club.
Yes mistakes have been made as you articulate, but to say he hasn’t got a clue isn’t right for me.
----------------------------------------------------------------------
Remember Foxellos point about not viewing the King Power tenure as one continuous period? That’s exactly what you’re doing and you do it all the time!
The new training complex was planned and initiated under Vichai not Top. The extension of the stadium was initiated with Vichai as chairman - not Top. These projects were well under way with planning permission submitted and funding arranged before Vichai passed away. Top has inherited them. Just because he hasn’t binned them off, it doesn’t mean they are his ideas, his projects and his initiatives
Look at when the mistakes started to happen. Were they under Vichai or have they been under Tops tenure? It’s absolutely staggering to me that you just can’t separate Vichai and Tops tenure and you can’t seem to identify where the cracks have started to appear
Page 1 of 1