Trust members raised their concerns to Trust Board members following stories in a couple of Sunday tabloids about the financial status of LCFC which as part of the story indicated the risk of administration and resulting points deduction.
The Trust Board therefore sort re-assurances from Leicester City about it’s current financial state, as it no longer receives regular financial updates from the club, as was the case under previous ownership.
Only recently during an interview on Radio Leicester, Chair of the Football Supporters Federation, Malcolm Clarke, stated the importance of the club keeping the Trust regularly informed of the clubs financial health.
In response to concerns raised about the recent articles, LCFC Chief Executive Officer, Paul Aldridge stated “We have instructed our lawyers to act on our behalf and we will be seeking a retraction and an apology. I can assure you that the talk of administration is both extremely mischievous and potentially very damaging to Milan’s reputation and completely without foundation. I hope this puts at rest the fears of your members.”
It was also indicated to the Trust that it was felt the rumour had been created by an individual who would have no knowledge of the clubs finances.
The Trust Board will be seeking ongoing dialogue with LCFC on the clubs finances, as viewing only the annual published accounts reflects only historic information and is not sufficient in terms of timeliness to monitor the clubs current financial well being.