Fans have reacted to the news that Leicester City have posted a financial loss for the sixth season in a row, following the publication of their most recent accounts.
The accounts for the 2023/24 season have been published, showing yet another loss for the Foxes, which is nothing new in the current era of football.
Leicester posted a deficit of £19.4 million in relation to their campaign in the Championship that ended in automatic promotion for then-manager Enzo Maresca.
The club now expect a continuation of discussions with the EFL and Premier League, with a potential sanction on the line, following on from historical problems regarding the rules between the two divisions.
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Leicester City publish accounts for 2023/24
A statement read that the club posted a £19.4 million pre-tax loss, which is a brighter figure than the £89.5 million loss posted the year prior.
Notable deals eased the losses, including compensation from Enzo Maresca’s exit, along with several exits to help raise funds.
Despite cutting down expenditure and increasing revenue, a loss was still unavoidable, which only adds to the pressure Leicester face in the future, with a clean-up operation needed both on the pitch and behind the scenes.
Upon the publishing of the accounts for 2023/24, fans reacted to the news, sharing mixed views on the state of the club’s finances.
Fans share mixed reaction to Leicester £19.4m loss
“I suppose a £19m loss isn’t too bad,” a supporter said, a feeling of optimism that was shared by another.
“So a near £20m loss seems more normal losses before all the covid stuff hit. Hopefully the club can start focusing on the big clear out on the summer because we need it”
The opinion from fans then took a turn, as one supporter took aim at some choice signings, painting a worrying picture for the future.
“Buying Skipp for 20 mill what a waste. Wanting to go back to 1 big sale a year however we don’t have the same quality as we once did. 20 mill loss better than previous however this was due to large selling big players. It’s not sustainable as our squad isn’t good enough.”
“Not looking good,” another said, commenting on the ‘mess’ that currently adorns the club.
Another supporter described the situation as a ‘joke’.
“101% of turnover spent on wages. probably 40% of that spent on past it 31+ year olds on 3 year contracts. Joke.”
Focus then turned to the club’s hierarchy, as a fan sparked a debate over the split opinion on Aiyawatt Srivaddhanaprabha, quoting the chairman’s overall investment.
“Aiyawatt Srivaddhanaprabha, whose overall investment in the Club since 2010 now exceeds £420M, Yet, people think he’s the problem.”
There are countless hurdles for Leicester to overcome in the near future, starting with the clash against Manchester City on Wednesday night.