ClaphamFox Posted 29 March Author Share Posted 29 March 19 minutes ago, GingerrrFox said: Strap yourselves in for Tuesday. We are supposed to be announcing our financial results and it’s worse than first feared. Where did you hear this from? Link to comment Share on other sites More sharing options...
GingerrrFox Posted 29 March Share Posted 29 March 1 minute ago, st albans fox said: First feared? by who ? They were given to the efl a month ago together with our management accounts for this season. The reaction of the Pl and EFL this month has shown they must have been pretty grim. I wonder if we’re allowed to change them once we’ve passed them over? I mean we may have decided to go big last season to try and get as much news out there as early as possible. You can amend your accounts right up until you file them. Perhaps we decided that as we’ve been charged by the epl we may as well put a bigger chunk of amortisation into last year. I’ve heard we are in excess of a £200m loss for the past 3 seasons. It’s more than grim. If we get promoted we are looking at a disgusting points deduction. If we don’t go up we are ****ed, well and truly. Link to comment Share on other sites More sharing options...
inckley fox Posted 29 March Share Posted 29 March 1 minute ago, GingerrrFox said: I’ve heard we are in excess of a £200m loss for the past 3 seasons. It’s more than grim. If we get promoted we are looking at a disgusting points deduction. If we don’t go up we are ****ed, well and truly. What level of ****ed would we be if we didn't go up? (It may well be a dumb question, by the way!). Clearly there'd be a fire sale if we could offload players, and probably no incomings, not to mention a deduction. But beyond that might it also be a chance to start from scratch, become equitable(ish) again and avoid legal action from clubs that claim we achieved promotion thanks to an illegal advantage? I doubt there's a scenario where two separate bans are imposed, with the PL one lingering over us in the event of promotion for years to come. So there is an argument that, if we come through this, we might actually be able to start afresh, rather than fighting fires constantly for the next few years. I do wonder, as we stare play-offs in the face, whether the board might at some stage regret not encouraging a faster process, and a deduction this season. For me I'd happily forego automatic promotion, and even promotion all together, in exchange for a chance to face our reality, and rebuild. Or is all of this insanely optimistic? Is the financial situation so grave that the future of the club is at stake? I'd not got that impression, but it could well be the case for all I know. Link to comment Share on other sites More sharing options...
LcFc_Smiv Posted 29 March Share Posted 29 March Was just coming on to post that I feel we need to hit the reset button, owners, manager and players. But sounds like we might be getting the ultimate reset, one of those FM saves where you try and win back to back promotions 7 years in a row to get in the prem 1 Link to comment Share on other sites More sharing options...
LcFc_Smiv Posted 29 March Share Posted 29 March 22 minutes ago, GingerrrFox said: I’ve heard we are in excess of a £200m loss for the past 3 seasons. It’s more than grim. If we get promoted we are looking at a disgusting points deduction. If we don’t go up we are ****ed, well and truly. Would potentially suggest our legal action against the leagues is more of a Hail Mary rather than any well-considered approach? Link to comment Share on other sites More sharing options...
ClaphamFox Posted 29 March Author Share Posted 29 March 26 minutes ago, GingerrrFox said: I’ve heard we are in excess of a £200m loss for the past 3 seasons. It’s more than grim. If we get promoted we are looking at a disgusting points deduction. If we don’t go up we are ****ed, well and truly. Is that the financial loss or the PSR loss? Link to comment Share on other sites More sharing options...
Chelmofox Posted 29 March Share Posted 29 March 30 minutes ago, GingerrrFox said: I’ve heard we are in excess of a £200m loss for the past 3 seasons. It’s more than grim. If we get promoted we are looking at a disgusting points deduction. If we don’t go up we are ****ed, well and truly. Heard from where exactly? 1 Link to comment Share on other sites More sharing options...
cropstonfox Posted 29 March Share Posted 29 March 24 minutes ago, inckley fox said: What level of ****ed would we be if we didn't go up? (It may well be a dumb question, by the way!). Clearly there'd be a fire sale if we could offload players, and probably no incomings, not to mention a deduction. But beyond that might it also be a chance to start from scratch, become equitable(ish) again and avoid legal action from clubs that claim we achieved promotion thanks to an illegal advantage? I doubt there's a scenario where two separate bans are imposed, with the PL one lingering over us in the event of promotion for years to come. So there is an argument that, if we come through this, we might actually be able to start afresh, rather than fighting fires constantly for the next few years. I do wonder, as we stare play-offs in the face, whether the board might at some stage regret not encouraging a faster process, and a deduction this season. For me I'd happily forego automatic promotion, and even promotion all together, in exchange for a chance to face our reality, and rebuild. Or is all of this insanely optimistic? Is the financial situation so grave that the future of the club is at stake? I'd not got that impression, but it could well be the case for all I know. We could be the new Luton,points deducted thrown into the conference national League.Fought back now scrapping in the Premier League.Thats a new exciting journey! Link to comment Share on other sites More sharing options...
Begley Posted 29 March Share Posted 29 March 56 minutes ago, st albans fox said: First feared? by who ? They were given to the efl a month ago together with our management accounts for this season. The reaction of the Pl and EFL this month has shown they must have been pretty grim. I wonder if we’re allowed to change them once we’ve passed them over? I mean we may have decided to go big last season to try and get as much news out there as early as possible. You can amend your accounts right up until you file them. Perhaps we decided that as we’ve been charged by the epl we may as well put a bigger chunk of amortisation into last year. Yes, you are allowed to change them. the accounts that were submitted are estimates and not actual accounts but they are the club's best estimate of what the accounts will be. If the club decided to sell a capital asset for 200m between now and the end of the accounting window that would add 200m to this set of accounts and it is perfectably acceptable to change the accounts to reflect this and the charges would be dropped (assuming the discretion is less than 200m) The accounting period the submitted accounts cover has not yet been completed. Link to comment Share on other sites More sharing options...
Blue ROI Posted 29 March Share Posted 29 March Was there a points deduction beginning February 16th? Link to comment Share on other sites More sharing options...
st albans fox Posted 29 March Share Posted 29 March 16 minutes ago, Begley said: Yes, you are allowed to change them. the accounts that were submitted are estimates and not actual accounts but they are the club's best estimate of what the accounts will be. If the club decided to sell a capital asset for 200m between now and the end of the accounting window that would add 200m to this set of accounts and it is perfectably acceptable to change the accounts to reflect this and the charges would be dropped (assuming the discretion is less than 200m) The accounting period the submitted accounts cover has not yet been completed. I was referring to the accounts to end June 23 rather than end June 24 which don’t need to be filed until end March 25 and advised to the efl by nov 24. 1 Link to comment Share on other sites More sharing options...
Pliskin Posted 29 March Share Posted 29 March Where that shit, they might just take pity on us an not deduct us any points, we can piss them away ourselves! Link to comment Share on other sites More sharing options...
st albans fox Posted 29 March Share Posted 29 March 1 hour ago, GingerrrFox said: I’ve heard we are in excess of a £200m loss for the past 3 seasons. It’s more than grim. If we get promoted we are looking at a disgusting points deduction. If we don’t go up we are ****ed, well and truly. We were about 125m for the previous two seasons so that would mean a loss approx 75m for last season pretty sure that would mean Maddison fee would be in 23/24. those numbers are losses rather than psr numbers Link to comment Share on other sites More sharing options...
Corky Posted 29 March Share Posted 29 March Makes it even more bizarre that we didn't go for Sensi. A few hundred grand would make little difference in the grand scheme of things. Link to comment Share on other sites More sharing options...
Begley Posted 29 March Share Posted 29 March 11 minutes ago, st albans fox said: I was referring to the accounts to end June 23 rather than end June 24 which don’t need to be filed until end March 25 and advised to the efl by nov 24. I get u sorry. Yeah changing those account may be a little trickier Link to comment Share on other sites More sharing options...
Begley Posted 29 March Share Posted 29 March 9 minutes ago, st albans fox said: We were about 125m for the previous two seasons so that would mean a loss approx 75m for last season pretty sure that would mean Maddison fee would be in 23/24. those numbers are losses rather than psr numbers That wouldn't be too bad a number from a PSR perspective. 35m allowable loss per year, add in Covid losses and then allowable non PSR losses and it wouldn't be difficult to see a 125m loss turn into a profit or at least a very small loss Link to comment Share on other sites More sharing options...
Sir Shep Posted 29 March Share Posted 29 March Ah the ITK is back. Link to comment Share on other sites More sharing options...
Ricey Posted 29 March Share Posted 29 March Deduct the points this season, the outcome will be the same. Link to comment Share on other sites More sharing options...
ClaphamFox Posted 29 March Author Share Posted 29 March 10 minutes ago, Ricey said: Deduct the points this season, the outcome will be the same. *Phone rings* ”Hi - is that the EFL? Hey guys, it’s Leicester here. How are you? Anyway, you know we’ve been refusing to cooperate with you at all and trying to sue you and all that? Well we’ve had a think and we realise we were being a bit silly there. And we were just wondering if it’s ok with you that we might just take a six point penalty now….” 1 Link to comment Share on other sites More sharing options...
davieG Posted 30 March Share Posted 30 March https://www.footballinsider247.com/leicester-city-financial-breach-is-biggest-so-far-ex-pl-ceo-suggests-hefty-points-deduction/ Leicester City financial breach is ‘biggest so far’ -ex-PL CEO suggests hefty points deduction Wayne Veysey Wayne Veysey Sat 30 March 2024 7:45, UK Former Everton chief Keith Wyness has insisted Leicester City’s financial rule breach is the “biggest so far”. Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – claimed a penalty of “six points” would be fair and called for leniency from the Premier League. Leicester were charged with breaching the top-flight Profitability and Sustainability Rules (PSR) last week (22 March). The Foxes accounts for the 2022-23 campaign have not yet been made public but are expected to show a loss of more than £105million for the last three full seasons. Enzo Maresca’s side will not face a points deduction for the current season, however, as fast-track for the punishment process was brought in after the club were relegated last year (2023). Leicester City PSR breach is ‘biggest so far’ – 2022-23 accounts ‘won’t be pretty’ Leicester sit second in the Championship and are level on points with leaders Leeds with a game in hand. Wyness told Football Insider‘s Insider Track podcast: “As we’ve seen, every case is heard by a different independent panel who all seem to come to a different conclusion. “I think with the furore that has been unleashed with some of the earlier cases, they may be more lenient in future. Join the Football Insider WhatsApp channel to get all our exclusives and the breaking transfer news FIRST. “You’d hope something like six points would be the penalty, but the numbers behind Leicester’s breach are going to be pretty big. Leicester “With £92million of losses for the 2021-22 season and then their next set of accounts, which aren’t going to be pretty, it’s the biggest breach so far. “But who knows what mitigating factors the lawyers can spin up with this one?” Link to comment Share on other sites More sharing options...
urban.spaceman Posted 30 March Share Posted 30 March https://amp.theguardian.com/football/2024/mar/29/two-fifths-of-premier-league-clubs-yet-to-file-as-accounts-deadline-looms Link to comment Share on other sites More sharing options...
leicesterseddon Posted 30 March Share Posted 30 March Anyone know which of the last three seasons (20/21, 21/22, 22/23) we’d be able to claim Covid deductions for? And how are they calculated? Link to comment Share on other sites More sharing options...
st albans fox Posted 30 March Share Posted 30 March 4 hours ago, urban.spaceman said: https://amp.theguardian.com/football/2024/mar/29/two-fifths-of-premier-league-clubs-yet-to-file-as-accounts-deadline-looms Gonna be a busy week for the financial guys in the media Link to comment Share on other sites More sharing options...
Lad1966 Posted 30 March Share Posted 30 March Will money saved on wages from players that left on free and/or out of contract be in these calculations. At the end of this, players out of contract could potentially save us between 15-20m in wages depending if there’s any relegation clauses included. Link to comment Share on other sites More sharing options...
Chrysalis Posted 30 March Share Posted 30 March 23 hours ago, Corky said: Makes it even more bizarre that we didn't go for Sensi. A few hundred grand would make little difference in the grand scheme of things. Indeed, a breach is a breach. Even if it were to add a couple of points for lets say not trying to mitigate (Forest have shown its worth 2 points), I think its a big claim that not bringing in a key target for the manager is not worth even 2 points. This is what I mean by ruthlessness and decisiveness, a ruthless decision would have brought in the player I think. Link to comment Share on other sites More sharing options...
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