Sports
Leicester City’s £194m debt written off by King Power | ‘Shows commitment after criticism’ | Football News
In layman’s terms, Leicester’s owners have written off £194m that they’d loaned to the football club, in various sized chunks, over the last 10 years, and said “we don’t expect you to pay that back, LCFC”.
It’s a big statement of commitment from the Srivaddhanaprabha family.
Many football clubs in England have significant debt that is owed to the club owners, and that debt tends to get paid off when the club is sold on.
Here, in Leicester’s case, there is now no debt to the owners.
It would be wrong to say that Leicester is now “debt free” because it does have various loans with banks elsewhere in the business, I understand.
But I have been told those debts are tiny, compared with the £194m of cash that Khun Top has now gifted the club.
Also, because the sum has been drip-fed into the club over the past decade, for accounting purposes and under Premier League rules, I’ve been told it is not deemed as an outside cash injection that could be in contradiction with Financial Fair Play.
Aiyawatt’s father, Vichai, did a similar thing in 2013, before Leicester won the Premier League title in 2016, and then Khun Vichai tragically died in a helicopter crash outside the stadium two years later.
Crucially, after a difficult time where Leicester’s board have faced criticism from some fans for a lack of investment in the playing squad, this is a huge show of commitment for the future.
If King Power were planning to sell the club at any point in the medium term, it would not make financial sense to do this.
Aiyawatt’s father, VVichai Srivaddhanaprabha, tragically died in a helicopter crash outside the King Power in 2018
While fans shouldn’t expect a huge splurge on new players now, the gift does help with Leicester’s Financial Fair Play situation, because there are no interest payments to be paid on the debt.
It doesn’t mean Brendan Rodgers suddenly has £200m to spend on players.
Leicester and King Power have always been adamant they would have a stable, well-run club. That doesn’t mean a lack of ambition – they’ve won the Premier League and FA Cup in the last seven years.
But there are some who’ve questioned the Leicester model – how can a club thrive on the pitch, if it is selling the likes of Riyad Mahrez, Harry Maguire, N’golo Kante, Wesley Fofana – world-class players that Leicester have let go to bigger clubs?
Leicester’s owners are pragmatic – they know they can’t compete with Manchester United, Manchester City, Liverpool and Chelsea off the pitch.
Their commercial power is unparalleled in the vast majority of global club football.
Brendan Rodgers with Leicester owner Aiyawatt Srivaddhanaprabha after the club’s FA Cup triumph in 2021
But Leicester have a plan to grow the club commercially, to increase revenues as much as possible, so that more and more money can be invested in the playing squad in the future, without breaking FFP rules.
A prime example is the £100m new training ground at Seagrave, which many feel is unrivalled in the Premier League.
There are also plans for a new hotel, entertainment venue, for expanding the capacity at King Power stadium – all with the goal of increasing commercial revenue, so that Leicester might be better able to compete with the big boys in the future.
This £194m gift is a really significant indicator of that long-term plan at Leicester.
The Srivaddhanaprabha family saying, “We don’t expect you to pay back this £200m loan that we’ve given you” is a huge show of commitment.
It shows King Power are in it at Leicester for the long haul, and it shows the club is, financially, in very rude health.
Jenson Button was making his NASCAR debut at the Circuit of Americas in Texas and said he was afraid he would faint during the race as he suffered from heat exhaustion; former F1 world champion finished in 18th place
Last Updated: 27/03/23 10:40am
Jenson Button made his NASCAR debut on Sunday
Jenson Button suffered from heat exhaustion and nearly retired on his NASCAR debut, before finishing 18th.
The former F1 world champion, 43, said he feared fainting while driving his Ford Mustang during the 68-lap race at the Circuit of Americas in Texas on Sunday.
“Finished 18th after almost stopping because I had heat exhaustion. It was so hot. I don’t have a fan in my seat, which really didn’t help me too much,” Button said.
The former F1 driver finished in 18th place in Texas
“I stopped twice for a minute. They put ice on me, gave me loads of water, and I went back out.
“I was so close to getting out of the car because I thought I was going to faint. I must have drank eight (or) nine bottles of water during the race.
“The team kept me calm, and it’s the reason why we got a good result in the end. So, I was happy.”
Button will next compete in the inaugural Chicago Street Race on July 2 before racing at the Indianapolis Motor Speedway road course on August 13.
require.config({“shim”:{“facebook-sdk”:{“exports”:”FB”}},”baseUrl”:”
require([‘skysports_digrev’, ‘sdc-site-pub-sub’], function (appController, pubsub) {
window.sdc = window.sdc || {};
pubsub.init(window.sdc);
appController.init();
});
Four Warrington Wolves players make our latest Betfred Super League team of the week after they stayed unbeaten so far in 2023, with three each from Leigh Leopards and Leeds Rhinos included as well; Wigan Warriors and St Helens are also represented
Last Updated: 27/03/23 10:22am
Josh Charnley’s hat-trick for Leigh earned him a place in our team of the week
We go through the statistics and put together our combined XIII of the standout performers from the latest round of matches in the Betfred Super League…
1. Matt Dufty (Warrington Wolves)
The full-back was heavily involved as the Wolves maintained their unbeaten start to the Super League season with a 38-0 win away to Castleford Tigers.
Dufty scored a try, assisted another, broke four tackles and assisted a linebreak. He gained 128 metres with the ball in hand as well.
2. Bevan French (Wigan Warriors)
Please use Chrome browser for a more accessible video player
Highlights of the Super League match between Wigan Warriors and Salford Red Devils
Two tries from the 2022 Super League Dream Team selection helped Wigan overcome Salford Red Devils in a thrilling 20-16 win on Friday.
French’s tries came on the back of him gaining 185 metres and making 58 post-contact metres. He broke the line three times and bust 11 tackles as well.
3. Tom Opacic (Hull Kingston Rovers)
The Australian led the way for the Robins as they got back to winning ways and inflicted more misery on Wakefield Trinity in a 34-6 triumph at Be Well Support Stadium.
Please use Chrome browser for a more accessible video player
Highlights from the Super League match between Wakefield Trinity and Hull KR
Opacic provided an assist for a try and a linebreak too, along with breaking the line twice himself and busting seven tackles. He gained 52 metres with the ball in hand as well.
4. Harry Newman (Leeds Rhinos)
The centre atoned for his second-half sin-binning by completing Leeds Rhinos’ comeback win over Catalans Dragons as the hosts triumphed 32-22 on Saturday.
That was Newman’s second try of the game, having assisted a linebreak, broken the line twice and bust one tackle. He gained 104 metres with 42 post-contact metres as well.
5. Josh Charnley (Leigh Leopards)
Please use Chrome browser for a more accessible video player
Highlights of the Super League match between Hull FC and Leigh Leopards
A hat-trick from the winger helped set Leigh on their way to an impressive 24-16 win away to Hull FC in Saturday’s Super League match.
Charnley’s treble came in a game where he gained 116 metres and made 47 post-contact metres, breaking the line three times and busting six tackles.
6. Blake Austin (Leeds Rhinos)
The former Great Britain international was at the heart of the Rhinos’ comeback win against Catalans at Headingley.
Please use Chrome browser for a more accessible video player
Highlights of the Super League match between Leeds Rhinos and Catalans Dragons
Austin assisted two tries and two linebreaks, along with breaking the line twice and busting four tackles. He was a strong running threat too, gaining 129 metres and gaining 46 post-contact metres.
7. Lachlan Lam (Leigh Leopards)
The scrum-half earned the praises of his father and Leigh head coach Adrian Lam for his role in helping the Leopards to victory away at Hull FC.
Lam assisted a try and a linebreak and was a constant running threat. He gained 66 metres, breaking the line once and busting five tackles, along with controlling things with his in-play kicking.
8. Paul Vaughan (Warrington Wolves)
Please use Chrome browser for a more accessible video player
Highlights of the Super League match between Castleford Tigers and Warrington Wolves
The former Australia international again showed why Warrington brought him over from the NRL by laying the groundwork for their victory over Castleford.
Vaughan gained 171 metres and made 101 post-contact metres with the ball in hand, breaking the line once and busting six tackles. He came up with 23 tackles in defence too.
9. Danny Walker (Warrington Wolves)
The hooker made his presence felt off the interchange bench after Daryl Clarke played just 15 minutes due to injury in Friday’s win for Warrington at Castleford.
Walker provided an assist for a try and assisted two linebreaks as well, along with gaining 117 metres and busting two tackles. He made 21 tackles in defence too.
10. Matty Lees (St Helens)
The prop was named player of the match in St Helens’ 14-12 win away to Huddersfield Giants for his defensive effort which saw him make 58 tackles in a full 80-minute stint in the front row.
England international Lees gained 58 metres with the ball in hand too, with one tackle break.
Please use Chrome browser for a more accessible video player
Highlights of the Super League match between Huddersfield Giants and St Helens
11. Ben Currie (Warrington Wolves)
Another strong showing in the back row from the Wolves’ testimonial man proved key as they made it six wins from six in Super League in 2023.
Currie gained 85 metres with 43 post-contact metres, assisting a try and assisting a line break too. In defence, he came up with 29 tackles.
12. Kai O’Donnell (Leigh Leopards)
The former Canberra Raiders second row put in a fine display on both sides of the ball to help the Leopards triumph at the MKM Stadium.
O’Donnell scored a try on the back of gaining 120 metres with 62 post-contact metres, making one linebreak and busting five tackles. He made 33 tackles with a 100 per cent completion rate too.
13. Cameron Smith (Leeds Rhinos)
The loose forward put in another impressive performance in both attack and defence to help Leeds hand Catalans their first defeat of the year in Super League.
Smith assisted one try and one linebreak, along with gaining 60 metres, making 41 post-contact metres, and busting five tackles. He came up with 42 tackles in defence as well.
require.config({“shim”:{“facebook-sdk”:{“exports”:”FB”}},”baseUrl”:”
require([‘skysports_digrev’, ‘sdc-site-pub-sub’], function (appController, pubsub) {
window.sdc = window.sdc || {};
pubsub.init(window.sdc);
appController.init();
});
Sports
Aintree Grand National meeting: Clan Des Obeaux ruled out of return after fresh setback in build-up | Racing News
Paul Nicholls has lost a race against time to get Clan Des Obeaux ready for Aintree.
The dual King George VI Chase winner had been making good progress from a suspensory injury ahead of a planned return to action at the Grand National meeting, where he was set to defend his Aintree Bowl title.
The 11-year-old, owned by Paul Barber, Ged Mason and Sir Alex Ferguson, was last seen finishing second to Allaho in the Punchestown Gold Cup last April.
Clan Des Obeaux had been making strides in his rehabilitation, but Nicholls has decided he will not attempt a hat-trick in the race he won in 2021 and 2022 and wait until next term with the five-times Grade One winner instead.
He said: “We have run out of time to get him ready, so we will just have to wait until next season.
“He had a little bit of a suspensory problem and has been doing everything and coming along well.
“He did a strong piece of work last week away and it has just flared up again.
“The warning light is flashing and we’ve just not had enough time to get him right, so we’ve had to pull stumps for the season.
“Unfortunately, much as we and everyone has tried to get him ready, we’re not going to get there.”
-
Entertainment2 months agoRita Ora On Tessa Thompson Taika Waititi Throuple Rumor
-
Social Media2 months agoMeet the actor Shanu Bhutto
-
Social Media2 months agoHow to start Career in Graphics Design with Canva?
-
Social Media2 months agoMeet Devam Divecha is a Young Successful Musical artist, Rapper and Famous Singer in India
-
Social Media2 months agoMeet the digital influencer and marketer; Alex Chungath
-
Cryptocurrency3 months agoAn ace professional taking over the world of Forex and Trading
-
Social Media2 months agoYoung Entrepreneur Pratik Virkhare bringing latest trends in Digital Marketing
-
Entrepreneurship2 months ago3 Ways to Create a Hybrid Work Environment That Works for All Generations