Leicester (1 Viewer)

RoboCCFC90 · Apr 5, 2014

stupot07 said:
There was no FFP rules back then, the only reason Leicester's owners have converted to equity is the FFP rules mean that championship are no longer allowed to lose more than £8m per annum.

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That's fair enough, but unless I am being dim I can't see a reason why that would impact how Sisu went about running our Club..

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stupot07 · Apr 5, 2014

RoboCCFC90 said:
That's fair enough, but unless I am being dim I can't see a reason why that would impact how Sisu went about running our Club..

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I'm not sure what you're trying to get at?

Are you trying to say, why didn't sisu come in and splash the cash and gamble like Leicester's owners?

Sisu have funded losses albeit through loans not by injecting equity.

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RoboCCFC90 · Apr 5, 2014

stupot07 said:
I'm not sure what you're trying to get at?

Are you trying to say, why didn't sisu come in and splash the cash and gamble like Leicester's owners?

Sisu have funded losses albeit through loans not by injecting equity.

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Basically when Sisu took over the Club, the Club was saddled with £25m+ of debt, so instead of a couple of years down the line Ray Ranson insisting that the Club is debt free, why didn't they convert the debt to equity and use it to have a proper go?

Like I said before Sisu don't have the spending power of Leicester's owners which is a great example of a Club that has spunked money to insist success.

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jas365 · Apr 5, 2014

RoboCCFC90 said:
Didn't that Leicester Troll say that they had converted that debt to Equity recently?

Yep, back in December I believe. Fisher said back in (I think) October 2012 at a CWR forum that SISU had converted our debt into equity. Funny how that wasn't reflected in the accounts published recently?????

Also, the big difference between their owner and ours, is that their "investment" actually went into buying the stadium and building a squad capable of challenging. Our "investment" has purely been used to cover losses, there hasn't actually been any spending on assets to get equity onto the balance sheet.

If their owner decided to sell up now, he has something of value to offer for his £, we have bugger all.

RoboCCFC90 · Apr 5, 2014

jas365 said:
Yep, back in December I believe. Fisher said back in (I think) October 2012 at a CWR forum that SISU had converted our debt into equity. Funny how that wasn't reflected in the accounts published recently?????

I don't remember that but I don't doubt you for a second. It's all a bit of a mess with what's been said by CCFC.

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stupot07 · Apr 5, 2014

RoboCCFC90 said:
Basically when Sisu took over the Club, the Club was saddled with £25m+ of debt, so instead of a couple of years down the line Ray Ranson insisting that the Club is debt free, why didn't they convert the debt to equity and use it to have a proper go?

Like I said before Sisu don't have the spending power of Leicester's owners which is a great example of a Club that has spunked money to insist success.

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But from what I understand that initial £25m was basically IOU's to Robinson and more of a paper exercise, the money they injected was paying off loans, paying off transfer fees (e.g best and borrowdale) and funding losses and the few transfers we had.

If they converted the current debt to equity it wouldn't generate anymore finance it would just be equity and no longer A loan/debt.

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Sky Blue Pete · Apr 5, 2014

They certainly paid about £8m or so tax

dongonzalos · Apr 6, 2014

Home » Football »
Blackpool v West Ham: play-off final is worth £90m to the winner but financial storm clouds continue to gather

dongonzalos · Apr 6, 2014

stupot07 said:
Probably not. I expect him to inject more cash next season to try and survive. They'll eventually get relegated with a wage budget larger than their turnover so he'll loan or inject more equity, and the cycle continues....

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West brom?

covpete · Apr 6, 2014

The sad truth is joy seppalla is worth 1.6 billion apparently which happens to be the exact sum Leicesters owner is now worth! Seppalla made 17 million last year, she could have put us in Leicesters position but all its about for her is getting property and land on the cheap, also disguising it as somebody else's investment incase it fucks up!

stupot07 · Apr 6, 2014

covpete said:
The sad truth is joy seppalla is worth 1.6 billion apparently which happens to be the exact sum Leicesters owner is now worth! Seppalla made 17 million last year, she could have put us in Leicesters position but all its about for her is getting property and land on the cheap, also disguising it as somebody else's investment incase it fucks up!

I may be wrong but I think you're getting a little confused.

The article on here said she is friends with John Huntsman Snr who has a net worth of $1.6m.

And seppala didn't make £17m last year, the article was from August 2008 saying sisu capital made £17m pre tax profits.

http://www.telegraph.co.uk/finance/...te-companies-Finance-at-its-very-highest.html

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skybluetony176 · Apr 6, 2014

stupot07 said:
I may be wrong but I think you're getting a little confused.

The article on here said she is friends with John Huntsman Snr who has a net worth of $1.6m.

And seppala didn't make £17m last year, the article was from August 2008 saying sisu capital made £17m pre tax profits.

http://www.telegraph.co.uk/finance/...te-companies-Finance-at-its-very-highest.html

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I would doubt that pre tax profit relates to what Joy is worth and what she takes out. Surely the profit is what's left after everyone has taken their cut.

Not that it's going to make much difference anyway. She ain't interested in the club, just the leverage it offers.

dongonzalos · Apr 6, 2014

stupot07 said:
I may be wrong but I think you're getting a little confused.

The article on here said she is friends with John Huntsman Snr who has a net worth of $1.6m.

And seppala didn't make £17m last year, the article was from August 2008 saying sisu capital made £17m pre tax profits.

http://www.telegraph.co.uk/finance/...te-companies-Finance-at-its-very-highest.html

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I. Have seen an article with huntsman at the top of a tree and JS as one of the branches far lower down

Nick · Apr 6, 2014

dongonzalos said:
I. Have seen an article with huntsman at the top of a tree and JS as one of the branches far lower down

Can you Post it up?

hackneyfox · Apr 7, 2014

stupot07 said:
You get between £34-39 million (bottom to midtable) extra being in the PL, so that effective swallows up Leicester's losses and gives them £5-10m extra for signings and wage bill before they start making losses, and actually given that the existing players will be getting an automatic pay rise that could swallow that up before you've strengthened the squad.

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You've been away from the PL too long.
You get a minimum 63m for finishing bottom.
Apparently we will hit FFP for this season (by including a loan of 8m from the owners) so that means 55m to spend next season.

Hobo · Apr 7, 2014

hackneyfox said:
You've been away from the PL too long.
You get a minimum 63m for finishing bottom.
Apparently we will hit FFP for this season (by including a loan of 8m from the owners) so that means 55m to spend next season.

With that amount of money washing around, I would trust a loan from Leicester more than one from SISU!

Astute · Apr 7, 2014

hackneyfox said:
You've been away from the PL too long.
You get a minimum 63m for finishing bottom.
Apparently we will hit FFP for this season (by including a loan of 8m from the owners) so that means 55m to spend next season.

So not much more than the 55 quid we have to spend then Hackers.

olderskyblue · Apr 7, 2014

hackneyfox said:
You've been away from the PL too long.
You get a minimum 63m for finishing bottom.
Apparently we will hit FFP for this season (by including a loan of 8m from the owners) so that means 55m to spend next season.

All the Pearson hater's on the roof gone quiet now hackers?

hackneyfox · Apr 7, 2014

olderskyblue said:
All the Pearson hater's on the roof gone quiet now hackers?

I have, but a few reckon he's not actually running things.
He deserves a go at PL as do most of the squad but come Christmas ..........

covcity4life · Apr 8, 2014

i don't think Leicesters council are trying to kill their club.

that always helps.

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