The publication of the LCFC financial accounts for the year ending 31st May 2011 and the details of the level of loans injected into the club by our owners since, has led to much discussion in the media.
The Guardian took the opportunity to drag up our time in administration with the following piece:
How football works
2002: Leicester clear a £50m debt by going into administration, avoiding £6m in tax and £4,415 owed to St John Ambulance.
2012: Leicester declare a debt of £46m for 2011, built on a record £15.2m loss, up from 2010's £7.5m loss; a staff costs to turnover ratio of 95.5%; and £28m owed to parent company Asia Football Investments – on whom the club "relies and continues to rely" to remain a "going concern".
(£25.6m: Additional loan provided by AFI in the new financial year.)
The Foxes Trust Chairman, Ian Bason was asked on Radio Leicester’s Drive Time show for the Trust’s initial reaction a few hours after publication, the feature piece starts around 7 minutes in on the following link, with Ian speaking from 10 mins 45 secs http://www.bbc.co.uk/iplayer/console/p00nwh90
Ian Bason then discussed with Radio Leicester’s Ian Stringer & Charles Dagnall in more detail aspects of the figures during the build-up to the Coventry game, however this is not available on I Player.
Today, Ian recorded the latest edition of the Foxblogger, discussing initially the Coventry game and then focusing on the figures, this can be heard via the following link http://foxblogger.wordpress.com/2012/03/04/podcast-leicester-city-2-coventry-city-0/