Time for the owners to sell up

[Lcfc098]

On 14/01/2023 at 11:53, BKLFox said:

Jordan Blackwall’s answer to the question 
Q: Is it time for the owners to sell up?
A: That’s a tricky one to answer, because it depends what you want from the club you support. If you want an owner who is going to funnel loads of their own money into a club's transfer kitty, then yes, I suppose there would be an argument for City to at least source extra finances by bringing in more investors. But if you want an owner who simply cares about the club and the people who support it, then I don't think a change would be a great idea. Having owners that are likeable is not a given in modern-day football.
Anyway, the priority for City right now is redressing the balance of their wages, and getting players off the books who are earning too much and clogging up the budget there. And then it's about improving their commercial revenue, as that's where they are really lacking compared to their rivals.

 

Sums up how I’d answer, what is it you want from your owner?
They know where they are lacking to compete and are addressing it, we’d be in the same situation if a sugar daddy state took us over after they had dripped through any loopholes they could exploit.

Me personally I’d like an owner who cared about the community and understood what the communities football team means to them, our current owners get that.

 

We all know what the big 6 stand for and add Newcastle into that now, they haven’t brought Newcastle to better the area they have brought Newcastle as a play thing just like the other 6 have and to add it to the portfolio of Sports Teams they own just like putting stickers in a Panini book, Baseball team check, American Football team check, Ice Hockey team check, Football Team check, that is the mind of the mega rich, they see someone has a yacht 150m long so they want 1 160m long not because they are thinking of how it will keep a boatyard afloat or bring jobs to an area but because it’s a sticker for the book and probably somewhere to filter money through let’s be honest.

 

I know the KP group have an interest in horses but how many owners have sat in the stands with their kids as fans, 13 years before going onto buy that club regardless of their league standing at the time.
 

The aim of football is to win games and win trophies. Everyone has gone so far away from that objective now. I want an owner who will invest into the squad to give us the best chance to win. That is all

[StanSP]

Listening to the @BSLBPod with Kieran Maguire on it, it explained quite a lot. Two things they mentioned in regards to the owner stood out:

 

- Sustainability - owners are making cuts to ensure we continue with ensuring our high levels of sustainability. This makes sense, and is the 'calm' approach in amongst the current panic we're all feeling about what's going on now and what could happen in the near future i.e. relegation.

 

- Owner issues - Top & co really do have financial problems and aren't plowing money into the club like previously, which is then having a domino effect across the club. This also makes sense, but is also indicative of the stark reality we find ourselves in, in having to make cutbacks. This is having a devastating effect on what Rodgers can do with transfers, but also inability to extend contracts/offer what other clubs can for valuable assets.

 

The sting in the tail, if you can call it that, is the FFP confusion. Last year we were concerned about FFP causing limitations on what we could do in summer. According to Maguire, FFP isn't actually that much of a hindrance and we're covered or not affected/impacted by it as first feared, and it shouldn't cause us inability to do any business. When you strip back what doesn't get taken into account for some FFP figures, we're actually quite well below the threshold where we should begin to worry about sanctions.

 

Taking that into account, it makes me think the latter of the 2 things above is more likely to be true and affecting us more, compared to the first reason of sustainability.

 

And all the more reason why we need some kind of statement or reassurance, and just honesty, from the owners. For it to have gone so quiet makes it more concerning. The fact it's taken a journalist, an extremely articulate one at that to his credit, to clear some things up is not how it should be. We need some clarity, some honesty, something to show us that the owners still have some resonance of respect for us as fans - after all, we'll be the ones that are here long after they're gone, and we were here before they rocked up anyway.

[filbertway]

On 11/01/2023 at 08:50, Walkerfox said:

It would, but remember, Top has told us all that  we’re supposed to be a “sustainable” club, that’s the goal. 
 

Im not sure how the fans have been tricked into thinking a sustainable club is a good one. It’s an excuse for Top to put no money into the club so he can get free King Power advertising and maybe a little bit of a bail out for them every now and then.
 

Sustainability for us fans means complete mediocrity. We’ll never compete without investment, it’s as simple as that. He needs to sell or invest, neither of which he seems interested in doing. 

 

That's funny coming from a Leicester fan. I can only assume you weren't around during the admin period.

[Guest]

Sustainability is not at all a bad thing to be aiming for, but what we are currently doing is not that. Sustainability means ensuring the club is run sensibly by people who know what they're doing. Our current plan seems to be to sit in the corner with our hands over our eyes and hope that when we remove them in the summer we've not been relegated.

[roblcfc84]

Thinks it’s pretty obvious the ownership are unable or unwilling to put in major investment. Sustainability is the dream, but it’s dependent on getting transfers right and producing young talent, ultimately developing saleable assets. When needed though, you’ve go to be to put some in. 

[alanf0x]

16 minutes ago, StanSP said:

Listening to the @BSLBPod with Kieran Maguire on it, it explained quite a lot. Two things they mentioned in regards to the owner stood out:

 

- Sustainability - owners are making cuts to ensure we continue with ensuring our high levels of sustainability. This makes sense, and is the 'calm' approach in amongst the current panic we're all feeling about what's going on now and what could happen in the near future i.e. relegation.

 

- Owner issues - Top & co really do have financial problems and aren't plowing money into the club like previously, which is then having a domino effect across the club. This also makes sense, but is also indicative of the stark reality we find ourselves in, in having to make cutbacks. This is having a devastating effect on what Rodgers can do with transfers, but also inability to extend contracts/offer what other clubs can for valuable assets.

 

The sting in the tail, if you can call it that, is the FFP confusion. Last year we were concerned about FFP causing limitations on what we could do in summer. According to Maguire, FFP isn't actually that much of a hindrance and we're covered or not affected/impacted by it as first feared, and it shouldn't cause us inability to do any business. When you strip back what doesn't get taken into account for some FFP figures, we're actually quite well below the threshold where we should begin to worry about sanctions.

 

Taking that into account, it makes me think the latter of the 2 things above is more likely to be true and affecting us more, compared to the first reason of sustainability.

 

And all the more reason why we need some kind of statement or reassurance, and just honesty, from the owners. For it to have gone so quiet makes it more concerning. The fact it's taken a journalist, an extremely articulate one at that to his credit, to clear some things up is not how it should be. We need some clarity, some honesty, something to show us that the owners still have some resonance of respect for us as fans - after all, we'll be the ones that are here long after they're gone, and we were here before they rocked up anyway.

My biggest concern was that the AVERAGE weekly salary from this squad of jokers is £96,000 a week!!!!!

[Lcfc098]

King Power have tried to make us King power FC for a long time but people did not realise/care as we were winning the Premier league/Fa cup which is fair enough. They may have contributed to us winning the premier league but i dont see anything extraordinary they did before we won the league. The getting buddhist monks to "bless" our players and hanging buddhist flags around our stadium would be met with absolute outrage had it happened at Newcastle now with the Saudis and would be called sportswashing. Add to the fact that they renamed the stadium King Power and have decided to abolish all history of the club apart from when King power have been here pre match on the screens. Also, the idea that they are amazing owners as they make the club sustainable is ridiculous. If anything, our scouts and transfer team have been doing that for them by scouting and signing players for a cheap price to sell on for 10x their value. Because they give out free beers here and there which may i add is a sponsored beer which they more than likely get it for free or at a huge cut price people think they deserve to be treated like Kings. King power has definitelt not been bad owners and have been better than many but they have are, like everyone  looking out for themselves which is fair enough but it is time to sell now as the "sustainability" concept he wanted has clearly failed. If he really cared, he would put his hand in his pocket now and if he can't do that then look at way of either selling the club or bringing a minority investor in because at this rate we'll be in the championship  soon enough, he'll sell the club and would still make a profit from what they bought it for and us as fans would stil be here facing the consequences.

[StanSP]

4 minutes ago, alanf0x said:

My biggest concern was that the AVERAGE weekly salary from this squad of jokers is £96,000 a week!!!!!

On the face of it, a huge figure, but if I remember correctly that may have included achievement/performance-based bonuses for FA Cup and qualifying for Europe. 

[Glorious Leicester Fan]

To whom? I don’t think we’ll attract the attention of an oil State. That possibly leaves only a consortium/hedge fund, a potentially worrying proposition (see Coventry). 
 

Like most of us, I’m exasperated by the current situation. But the grass is…..

[Leicester_Loyal]

We're getting nothing from Top or the board, face it.

 

I don't know whether he should sell but as each day passes I think more and more that he's not the right bloke to be running a football club.

[Sol thewall Bamba]

34 minutes ago, StanSP said:

Listening to the @BSLBPod with Kieran Maguire on it, it explained quite a lot. Two things they mentioned in regards to the owner stood out:

 

- Sustainability - owners are making cuts to ensure we continue with ensuring our high levels of sustainability. This makes sense, and is the 'calm' approach in amongst the current panic we're all feeling about what's going on now and what could happen in the near future i.e. relegation.

 

- Owner issues - Top & co really do have financial problems and aren't plowing money into the club like previously, which is then having a domino effect across the club. This also makes sense, but is also indicative of the stark reality we find ourselves in, in having to make cutbacks. This is having a devastating effect on what Rodgers can do with transfers, but also inability to extend contracts/offer what other clubs can for valuable assets.

 

The sting in the tail, if you can call it that, is the FFP confusion. Last year we were concerned about FFP causing limitations on what we could do in summer. According to Maguire, FFP isn't actually that much of a hindrance and we're covered or not affected/impacted by it as first feared, and it shouldn't cause us inability to do any business. When you strip back what doesn't get taken into account for some FFP figures, we're actually quite well below the threshold where we should begin to worry about sanctions.

 

Taking that into account, it makes me think the latter of the 2 things above is more likely to be true and affecting us more, compared to the first reason of sustainability.

 

And all the more reason why we need some kind of statement or reassurance, and just honesty, from the owners. For it to have gone so quiet makes it more concerning. The fact it's taken a journalist, an extremely articulate one at that to his credit, to clear some things up is not how it should be. We need some clarity, some honesty, something to show us that the owners still have some resonance of respect for us as fans - after all, we'll be the ones that are here long after they're gone, and we were here before they rocked up anyway.

Sorry, during what period were King Power "plowing money in"

[Walkerfox]

27 minutes ago, filbertway said:

 

That's funny coming from a Leicester fan. I can only assume you weren't around during the admin period.

I was, but far too young to understand it all!
 

In my post, I was more meaning Tops definition of “sustainability” which seems to just mean that he doesn’t have to do anything. No money, no investment, let the board run the club whilst he sits back and takes the credit for what was realistically his dads work.
 

It feels incredibly harsh to say that, but given the state of the club at the minute, it isn’t really untrue. 

[filbertway]

17 minutes ago, Walkerfox said:

I was, but far too young to understand it all!
 

In my post, I was more meaning Tops definition of “sustainability” which seems to just mean that he doesn’t have to do anything. No money, no investment, let the board run the club whilst he sits back and takes the credit for what was realistically his dads work.
 

It feels incredibly harsh to say that, but given the state of the club at the minute, it isn’t really untrue. 

I fully back the ideal of being sustainable. The main thing you want is a football club, the next thing you want is your club to perform at their highest possible level with the resources available. At no point do we as a club want to be relying on someone to pay for our transfers or wages. If they decide to pull out then all of a sudden the club is liable for the costs and quickly is in a lot of trouble.

 

On to the ownership.Vichai made a lot of mistakes, but I always had faith that he'd never make the same mistake again and he would look to rectify it. At the minute, it feels like the club is very much at the back of Top's mind, he's barely around and the communication between club and fans is non-existent. The leadership should be addressing fans and giving us updates on the current predicament and our future plans. I honestly don't think he has the time or desire to be in charge of the club at the moment. We're in a real mess till we get some proper hands on leadership.

[StanSP]

27 minutes ago, Sol thewall Bamba said:

Sorry, during what period were King Power "plowing money in"

[Steve Earle]

The silence from our club is defeaning...

[shiv]

54 minutes ago, Sol thewall Bamba said:

Sorry, during what period were King Power "plowing money in"

They bought the stadium for £17m, they converted £103m of debt into shares in 2013 (which essentially wrote off all money owed to them at that time) and gave us £16m per year in revenue through that dodgy commercial deal. I’m sure they’ve pumped more money in but those are the 3 things I remember off the top of my head. 

Edited 17 January 2023 by shiv

[mazarron fox]

1 hour ago, Lcfc098 said:

King Power have tried to make us King power FC for a long time but people did not realise/care as we were winning the Premier league/Fa cup which is fair enough. They may have contributed to us winning the premier league but i dont see anything extraordinary they did before we won the league. The getting buddhist monks to "bless" our players and hanging buddhist flags around our stadium would be met with absolute outrage had it happened at Newcastle now with the Saudis and would be called sportswashing. Add to the fact that they renamed the stadium King Power and have decided to abolish all history of the club apart from when King power have been here pre match on the screens. Also, the idea that they are amazing owners as they make the club sustainable is ridiculous. If anything, our scouts and transfer team have been doing that for them by scouting and signing players for a cheap price to sell on for 10x their value. Because they give out free beers here and there which may i add is a sponsored beer which they more than likely get it for free or at a huge cut price people think they deserve to be treated like Kings. King power has definitelt not been bad owners and have been better than many but they have are, like everyone  looking out for themselves which is fair enough but it is time to sell now as the "sustainability" concept he wanted has clearly failed. If he really cared, he would put his hand in his pocket now and if he can't do that then look at way of either selling the club or bringing a minority investor in because at this rate we'll be in the championship  soon enough, he'll sell the club and would still make a profit from what they bought it for and us as fans would stil be here facing the consequences.

Very harsh! If you are a fan of nearly 60 years like me these guys gave us the ultimate dream and made it reality. Don’t ever forget what we were. If the only way to win stuff now is to be bought by a gulf state then I’m happy our bit in legend is secure

[STUHILL]

If Top doesn't spend significantly in this window to gives us every chance of staying up, then he does need to sell or look for outside investment. 

No shame in owning up to the fact King Power can no longer secure the future for Leicester as a Premier League team. 

Just act now, either spend or seek investment or a buyer. Time is not on our side now. 

[Blanchflower78]

The club clearly behaving in a way that suggests they want to sell. No investment, key contracts being drawn down, replacing a club legend GK with a far inferior understudy etc..

 

Time will tell what their intentions are but it certainly doesn't feel like a strong intent to move forward. 

[Lcfc098]

19 minutes ago, mazarron fox said:

Very harsh! If you are a fan of nearly 60 years like me these guys gave us the ultimate dream and made it reality. Don’t ever forget what we were. If the only way to win stuff now is to be bought by a gulf state then I’m happy our bit in legend is secure

This is what I’m saying. They didn’t “give us” the ultimate dream. They were a part of it. I find the constant worshipping of them really strange.

[STUHILL]

9 minutes ago, Blanchflower78 said:

The club clearly behaving in a way that suggests they want to sell. No investment, key contracts being drawn down, replacing a club legend GK with a far inferior understudy etc..

 

Time will tell what their intentions are but it certainly doesn't feel like a strong intent to move forward. 

On the flipside, they are pushing ahead with a huge stadium upgrade, and at the start of the season, Top wrote to the fans to reassure them of his commitment and long-term future etc. 

 

Lots of things are not adding up. 

 

I think Top doesn't want to sell, but also can't afford to invest in the playing squad anymore. 

 

I could be wrong, but that seems the most logical assumption at the moment. If true, he needs to sell or seek investment quickly. 

 

 

[PAPA LAZAROU]

Lets see how " sustainable" we are back in the championship without the prem money. This secrecy is insulting to the fans who can see the blinding obvious trajectory the club is heading towards. Remember we were here before the present owners and will be here when they are gone. Yes a big thank you to them for being at the helm during the clubs most successful period in it's history, But if Top and co can't bankroll the club in the Pemier league then it's time to sell to someone who can. Not one fan I know wants to go back to the doldrums of the lower leagues and unfortunately thats where we are heading.

Edited 17 January 2023 by PAPA LAZAROU

[Lambert09]

I do find it funny when you see man u fans or gary neville absolutely fuming at the glazers but they are throwing so much dosh at it but any man u fan would say we are so ungrateful for complaining about our owners 

 

Fwiw I will always be grateful for them but something changed this summer, for whatever reason the interest in our club seems to have faded. We might survive this year but if we dont get the summer absolutely perfect, we will be back in the fight again. 

 

Next year we might have no star quality players left... weve not had that in a very long time ... but genuinely, if Maddison leaves... where is the hero in the team?  I really dont think Barnes can flourish without strength around him, he doesnt take the mantle on by himself.  Barnes is a talented player but he benefits so much from being lucky enough to have maddison around him.  I think maddison will be harder to replace than mahrez ... and we still havent achieved this. 

[Gamble92]

46 minutes ago, shiv said:

They bought the stadium for £17m, they converted £103m of debt into shares in 2013 (which essentially wrote off all money owed to them at that time) and gave us £16m per year in revenue through that dodgy commercial deal. I’m sure they’ve pumped more money in but those are the 3 things I remember off the top of my head. 

Sorry but this doesn't cut it at all for me. The decisions made before promotion were all about the 100m+ a year you get for Premier League football. Since we secured that we have funded everything through loans and player sales. It's easy to go along with that narrative that they have done everything from the good of their hearts but they haven't. This is the first time we didn't have a big sale and we didn't get anyone. The model suddenly got found out, and we realised all the loans against TV money have caught up with us. We have loans against TV Money until 2025.

 

I'd like some evidence behind that graph shared too as to where that money was pumped in in 20-21. I think you'll find that's all from sales. That isn't a net spend. 

[StanSP]

2 minutes ago, Gamble92 said:

I'd like some evidence behind that graph shared too as to where that money was pumped in in 20-21

It's a 10-year sum. £383m owner funding across 10 years, not just 1 year. 

 

No one is on about net spend or sales.