Leicester in bother? Non whu

Does exactly what it says on the tin - the forum for football-related discussion.

Moderators: bristolhammerfc, sicknote, -DL-, Rio, Gnome, chalks, the pink palermo

Leicester in bother? Non whu

Postby fester on Wed Jul 12, 2017 7:42 pm

fester
Eats sh*t
 
Posts: 775
Joined: Thu Aug 17, 2006 11:56 am
Location: CHIPPENHAM

Re: Leicester in bother? Non whu

Postby fmgod on Wed Jul 12, 2017 7:57 pm

It's massive news really, Asia dodgy money, what a shock, shades of Thaksin Shinawatra with this.
fmgod
 
Posts: 11950
Joined: Sun Oct 22, 2006 12:54 pm

Re: Leicester in bother? Non whu

Postby hamagram on Wed Jul 12, 2017 8:07 pm

Upon reflection..Sadly that news sounds so familiar
User avatar
hamagram
 
Posts: 1163
Joined: Tue May 29, 2007 5:24 pm
Location: Bloody Hell mate, youve got your old boy out..!

Re: Leicester in bother? Non whu

Postby Claret&Blue,Thru& on Wed Jul 12, 2017 10:29 pm

Bloody hell, Thai morals in question?
Claret&Blue,Thru&
 
Posts: 813
Joined: Wed Aug 06, 2003 12:17 pm

Re: Leicester in bother? Non whu

Postby Thekorean on Wed Jul 12, 2017 11:07 pm

Doesn't seem like much of a big deal. Leicester won't go bust over this.

Maybe a budget cut.
Thekorean
 
Posts: 264
Joined: Tue Jun 21, 2016 10:36 am
Location: Brooklyn

Re: Leicester in bother? Non whu

Postby Kialos on Wed Jul 12, 2017 11:12 pm

No more free beer and pies for the fans then.....
Kialos
 
Posts: 6407
Joined: Mon Jan 09, 2006 7:11 pm

Re: Leicester in bother? Non whu

Postby Colours never run on Thu Jul 13, 2017 1:46 am

Does make you think, even if there wasn't an allegation of corruption (which sounds very serious), they were bankrolled from the Championship and bought they way back into the big time and gave themselves a platform to be go on to win the League. Sure by comparison to the top teams in the League there was still a gulf but it weren't all done on a shoe string etc the way they'd like everyone to believe. Southampton is another one which was heavily bankrolled back into the big time yet all anyone wants to talk about is how well their academy does and so on.
User avatar
Colours never run
 
Posts: 8185
Joined: Wed Feb 18, 2015 2:46 am
Location: "Be in no doubt, we are part of the most successful stadium migration in history"

Re: Leicester in bother? Non whu

Postby the pink palermo on Thu Jul 13, 2017 7:19 am

CNR, the 2 clubs you mention both took the thieves way out , went into administration and did a phoenix .

Just imagine if we had done that , we'd probably still be at the Boleyn .
User avatar
the pink palermo
Huge noggin
 
Posts: 36367
Joined: Thu Sep 03, 2009 12:00 pm
Location: Whining is what we are here for

Re: Leicester in bother? Non whu

Postby dave_l on Thu Jul 13, 2017 8:41 am

the pink palermo wrote:CNR, the 2 clubs you mention both took the thieves way out , went into administration and did a phoenix .

Just imagine if we had done that , we'd probably still be at the Boleyn .


We'd also probably never hear the end of our being in administration from the press. It'd always be "West Ham United, who were in administration only x years ago.... (continues with actual story)"

Probably a fairly limited impact on Leicester, I don't think any of their finances are way out of control vs income there as far as I know.
User avatar
dave_l
 
Posts: 2089
Joined: Mon May 31, 2004 2:38 pm
Location: Bromley

Re: Leicester in bother? Non whu

Postby kayahammer on Thu Jul 13, 2017 9:13 am

I've lived in Thailand since '97 and show me someone who isn't corrupt. It's usual in pretty much every country in the world. But now the military have been in power for a bit they are putting on a show of battling corruption, and trying to do the right thing.

The old boss of Man City, the vile Taksin (who's been on the run on his diplomatic passport for years), is way worse than these King Power guys. They'll apologize, grease some palms somewhere and the story will most likely vanish.

If you've got plenty of money over here, you're fine, whatever you do (just ask the heir to the Red Bull fortune who ran over a copper in his Ferrari, dragged him 100 yards up the road, left him dead, and still hasn't been bought to justice all these years later).

Love living here though :D
User avatar
kayahammer
 
Posts: 5339
Joined: Wed Feb 16, 2011 6:59 am
Location: East of Eden

Re: Leicester in bother? Non whu

Postby kayahammer on Thu Jul 13, 2017 9:22 am

User avatar
kayahammer
 
Posts: 5339
Joined: Wed Feb 16, 2011 6:59 am
Location: East of Eden

Re: Leicester in bother? Non whu

Postby Crossd_Hammrs on Thu Jul 13, 2017 2:21 pm

Weren't they exposed as having broken Football League financial regulations in their promotion season?
User avatar
Crossd_Hammrs
 
Posts: 1706
Joined: Mon Oct 12, 2009 11:28 pm

Re: Leicester in bother? Non whu

Postby Kialos on Thu Jul 13, 2017 7:35 pm

It was the Leicester administration and then rising from the ashes that led to the introduction of the points deduction. From memory I think it was connected to building the new stadium. Apparently thieves never prosper but I think that might be a flawed saying
Kialos
 
Posts: 6407
Joined: Mon Jan 09, 2006 7:11 pm

Re: Leicester in bother? Non whu

Postby Crossd_Hammrs on Fri Jul 14, 2017 3:03 pm

Yeah, but I was referring to something specifically in their promotion season.
Loosely, I think the situation was that they had blatantly overspent Football League FFP allowances but got away with it because they were promoted to the Premier League meaning the FL can't punish them until they get relegated. By being promoted they increased their turnover to such an amount that they could argue their over-investment was justified and thus, retrospectively, within the regulations.
I'm not clear on whether the investigation was concluded or if the FL dropped it as Leicester are out of their jurisdiction.
But there were other allegations of financial foul play in the manner in which investments were made - even after promotion - chiefly by sponsorship deals by King Power. That the owners' company was sponsoring the club wasn't the issue, but it seems there were a series of deals that improved each time beyond what was deemed "fair value" for a Championship club and then relegation battlers.
There were allegations of offshore shell companies utilized in various deals too.
User avatar
Crossd_Hammrs
 
Posts: 1706
Joined: Mon Oct 12, 2009 11:28 pm

Re: Leicester in bother? Non whu

Postby Wembley1966 on Fri Jul 14, 2017 3:28 pm

kayahammer wrote:Love living here though

Careful of the strippers!
http://sundayinquirer.com/2017/06/08/man-turns-blind-after-stripper-urinates-on-him/
Wembley1966
 
Posts: 4800
Joined: Tue Jan 20, 2009 1:48 pm

Re: Leicester in bother? Non whu

Postby sanchoz on Fri Jul 14, 2017 4:21 pm

https://www.theguardian.com/football/20 ... estigation

Leicester City and the strange finances behind their rise to the Premier League pinnacle

Leicester City’s dash to an unlikely Premier League title is billed as football’s most romantic story in a generation but the Football League is still investigating the club’s 2013-14 promotion season amid strong concerns from other clubs they may have cheated financial fair play rules.

The club’s owner, the billionaire Thai businessman Vichai Srivaddhanaprabha, who owns his country’s duty-free company King Power, bankrolled Leicester’s rise from the Championship with more than £100m after he took over the club in 2010.

The investigation centres on a deal Leicester say they did in January 2014 with a company called Trestellar Ltd, to market the club in the UK and south-east Asia. That deal immediately produced an apparent £11m increase in Leicester’s sponsorship and commercial income, reducing the club’s loss from £34m the previous year. In the club’s most recent accounts, for 2014-15, Leicester say Trestellar sold the club’s main sponsorships – the name on the players’ shirts and the stadium – to King Power, the club’s owners.

The Thai owners were already sponsoring the shirt and stadium before the Trestellar deal; in 2012-13 Leicester’s sponsorship and other commercial income was £5.2m. After the Trestellar deal, with King Power still holding the same main sponsorships, the income immediately jumped to £16m.

That substantially reduced Leicester’s loss, which was otherwise likely to have resulted in a large fine under the Football League’s then new financial fair play rules by which all clubs agreed to cap losses at £8m to try to reduce excessive spending on players’ wages. Losses under FFP rules are not reduced by a club owner paying money to the club, or by doing so via sponsorship, if the amount paid is clearly inflated beyond market value.

Leicester still say Trestellar paid the club for the rights to market their brand, then sold the sponsorships to the owners. The resulting smaller loss – £21m in 2013-14, including expenses clubs are allowed to offset – meant Leicester argue they complied with FFP rules and no sanction should be applied. Some other clubs are furious, arguing they reduced spending on players to comply with the rules while Leicester overspent on players’ wages, achieved promotion and have since resisted any sanctions.

Leicester’s 2013-14 accounts state they spent £36m on players’ wages, £5m more than the club’s entire income – the goalkeeper Kasper Schmeichel, the captain Wes Morgan, the prolific striker Jamie Vardy and other core players were already on the payroll then – although Leicester said £9.4m comprised bonuses paid on promotion. During the season, in January 2014, Leicester signed Riyad Mahrez from Le Havre for a reported £560,000, and the Algeria midfielder has since been instrumental in Leicester’s promotion and remarkable Premier League turnaround.

Trestellar, the company which produced this immediate increase in sponsorship and commercial income – vast for a Championship club – was a newly formed company. It was set up on a Sheffield trading estate by the son and daughter of Sir Dave Richards, a former Premier League chairman. Richards had close links to Leicester’s Thai owners (his Thai football contacts also include having become acquainted with the country’s ousted prime minister, Thaksin Shinawatra, who became Manchester City’s owner in 2007).

In June 2013, Richards was reported to be advising Leicester about how to comply with FFP, although his son, David Jr, rejected as “paper talk” reports his father would become Leicester’s chairman.

Trestellar, then and still, has no website nor telephone number. At the registered address – 6 Shepcote Office Village, on a main road in Sheffield – there is no Trestellar presence or sign. Asked by the Guardian why the company has no telephone number or website, Richards Jr, who runs a print, design and marketing company, Glue, from the same address, replied: “Why would we need one? We are very busy, we are relatively well known and in the networks in which we move, we are known to the people we wish to be known to.”

Leicester said last year they agreed their “exciting international marketing and licensing partnership with Trestellar Limited … following an extensive tender process to identify a party best-suited to extending its commercial reach worldwide”. The club declined to answer any questions about the Trestellar deal or this tender process, and what considerations resulted in the new company in Sheffield set up by Sir Dave Richards’ family members winning the rights to market the club in south-east Asia.

Richards Jr told the Guardian he could not discuss the deal, how and why King Power remain the club’s sponsor, or what other income Trestellar has brought in, saying he was bound by client confidentiality.
However, he said Leicester’s accounts and those of Trestellar – which showed £808,000 profit and £4m cash in the bank last year – demonstrated the “positive impact” Trestellar has had. Asked if his father had been influential in securing the deal from Leicester, Richards Jr said: “It is fair to say my dad is and continues to be on the world sporting stage.”

Richards Jr confirmed the name Trestellar echoes his father’s former engineering company, Three Star Engineering, which went into administrative receivership in 2001. Shortly before that, Richards resigned as the chairman of Sheffield Wednesday, who were facing relegation from the Premier League, and was appointed the Premier League chairman on an initial salary of £176,667. He stepped down in 2013 and now does consultancy for contacts, his son said.

The Football League has stated for more than a year that it has not cleared Leicester’s 2013-14 finances and told the Guardian that Leicester remains an “ongoing matter”.

Senior figures at Championship clubs say shirt sponsorships in the division earn between £250,000and £500,000, and it is difficult to sell stadium naming rights at all. Leicester’s nearby rival Derby County, who have a bigger stadium capacity, recently sold their naming rights to iPro, a sports-drink company, for £700,000 a year.

One owner of a club in the Championship in the 2013-14 season, who did not want to be named because he said the league investigation has to run its course, said: “What Leicester did looks like financial doping by the owners, while other clubs were complying with the rules we all agreed.” A senior director of another 2013-14 Championship club, who also did not want to be named for the same reason, said he believes the Trestellar deal looks like a means of cheating the FFP rules.

Damian Collins, the Conservative MP on the House of Commons culture, media and sport committee, said: “Leicester should answer the questions publicly, to explain this arrangement, which looks unusual to say the least, to reassure people it was not an attempt to evade the FFP rules.”

Leicester did not answer any of the Guardian’s specific questions about the deal. A spokesman said: “The club submitted a compliant FFP return to the Football League in relation to the 2013-14 season. The Football League has subsequently requested certain clarifications, which have been provided. The club is confident that it has complied with the Football League FFP regulations during that season and no material liability will arise from this process.”
User avatar
sanchoz
 
Posts: 10027
Joined: Wed May 18, 2005 3:41 am
Location: Founder of the Carlton Cole Fan Club - Rainham & Guildford Branch

Re: Leicester in bother? Non whu

Postby Chrissieboy on Sat Jul 15, 2017 4:05 am

****ing hilarious to see some of you take the moral high ground with Thailand. Look at how our owners made their money. How many of you have been sucked off by ladyboys? Our owners and probably most of our fans would love to see the club sold to an oil baron, the Church of Scientology or Donald Trump if it meant signing Mahrez and Aubameyang, a coach who knew his arse from his elbow and a wee bit of silverware :D
User avatar
Chrissieboy
Rates Garth Crooks
 
Posts: 3456
Joined: Fri Sep 26, 2003 5:52 am
Location: Tokyo

Re: Leicester in bother? Non whu

Postby wigwig on Sun Jul 16, 2017 8:43 am

Honestly I have never been sucked off by a Ladyboy. Yourself?
wigwig
 
Posts: 547
Joined: Fri Sep 01, 2006 5:31 pm

Re: Leicester in bother? Non whu

Postby e17 on Sun Jul 16, 2017 9:55 am

the pink palermo wrote:CNR, the 2 clubs you mention both took the thieves way out , went into administration and did a phoenix .

Just imagine if we had done that , we'd probably still be at the Boleyn .

We're West Ham United fella

We'd have done a Portsmouth, not a Southampton
User avatar
e17
 
Posts: 7831
Joined: Thu Sep 04, 2008 9:52 pm
Location: Deep deep down

Re: Leicester in bother? Non whu

Postby trevshead10may1980 on Sun Jul 16, 2017 3:10 pm

wigwig wrote:Honestly I have never been sucked off by a Ladyboy. Yourself?


I lived in Thailand for 7 years, and thankfully it never happened to me. As for the previous poster who, I know in jest, mentioned selling the club to Trump, that would be the day I end my 55 year support of West Ham if we had anything to do with that evil Nazi.
User avatar
trevshead10may1980
 
Posts: 109
Joined: Mon Jan 02, 2017 5:27 pm
Location: Milwaukee USA, Essex born and bred

Next

Return to General Discussion

Who is online

Users browsing this forum: Barking Boy, bowltorious, brothernero, Colours never run, deanoo, Google [Bot], Harry Hound, HermanTheTosser, hessa, horsham_hammer, Johnny Byrne's Boots, OFT, spod, stouffer, WestHamByTheSea and 75 guests