In among all the angst about how it's all going wrong and we're only 8th in the Premier League with all our dire players some good News coming out of the Club today.
Massive profits and some good soundbites from Susan Whelan, another Club stalwart who's a disaster when we're going backwards and ignored when we win the League.
Leicester's target is sustainable success, says chief executive
(Reuters) - Leicester City will look to build a lasting legacy that involves growth and sustainability after the most successful period in their 134-year history, the Premier League club’s chief executive Susan Whelan said on Friday.
Whelan was speaking after Leicester announced their latest financial results which showed that the club had yielded record pre-tax profits of 92.5 million pounds for the year ending May 31, up from 16.4 million in 2016.
Leicester’s progress to the quarter-finals of last season’s Champions League — where they eventually lost to Spain’s Atletico Madrid 2-1 on aggregate — saw their turnover increase to 233 million pounds, over 104.3 million pounds more than in the previous year.
“Securing a legacy for the club’s recent achievements is among our greatest responsibilities, as it will be the platform from which Leicester City can grow and achieve further, sustainable success," Whelan said.
“Fundamental to that legacy is the commercial consolidation of the opportunities success has afforded the club," she added.
Leicester, Premier League champions in 2015-16, progressed further than any other English side in Europe’s elite club competition last season and as a result, ticket revenues were boosted by 42 percent despite a third straight year of frozen season ticket prices.
“This allows us to make further long-term investments in outstanding players and key personnel, infrastructure to strengthen our operations and services," Whelan added.
Leicester, owned by the Srivaddhanaprabha family and its King Power Group of Companies, recently revealed plans for a new training facility in Charnwood.
Transfer fees and improved deals for players saw a 59 percent rise in operating costs to 65.5 million pounds.
Leicester are eighth in the league with 36 points from 28 games.
Sustainable Growth
posted on 2/3/18
I still love our owners. So much.
posted on 3/3/18
Bright future for sure
posted on 3/3/18
Rudkin doing a great job this sustainable growth is only sustainalbe when you win the premeier league and qualify for the Champions league.
That being said good job all round
UTF's
posted on 3/3/18
I don't think winning the Premier League and qualifying for the Champions League is part of the sustainable growth Nev.
These figures were for the 2016-17 season so include the returns for a mid table finish. Also I heard that we got £70M for progressing in the Champions League, so if that's taken off the profits it is still indicating a healthy £20M surplus. That looks like reasonable financial management in the crazy world of football.
Where it isn't sustainable would be the massive drop in incoming revenue caused by being relegated into the Championship. That's not part of the plan at all (although I'd hope that contracts reflect that possibility), hence the rapid action and axe for Claudio and Shakey the instant we look like struggling. Also something that Claude will be acutely aware of.
posted on 3/3/18
Most of the profit is from the Claudio effect getting us into the Champions league, seeded and performing well earning £67m and the £37m from the Premier league.
Sales profits from Kante etc made up the rest.
My disappointment is the owners are only top half finishes i think we should be more ambitious than that.
Nice of the owners to place on record their dept to the most successful LCFC manager.
posted on 3/3/18
Nev, I didn't see that, where was Nige mentioned?