Leicester lose £92m

Revenue at Leicester City in 2021/22 down 5% to £215m, reports Kieran Maguire. Wages down 5% to £182m.   Day to day losses up 20% to £79m Interest costs up 68% to £19m Player purchases £67m Player sales £13m. Borrowings £343m but over half written off recently.

As a result of fall in income and overheads not falling as fast day to day operating losses increased from £66m to £79m. Total losses in the last five seasons were £368m.

One way to reduce losses it to sell players, Leicester made a profit of £9m in 21/22, lowest since 2015.  Player purchases modest by recent year standards, player sales low.

Leicester have borrowed money from banks and so interest cost up sharply to £363k a week, taking overall pre tax losses to £92m.

Broadcast income down £33m due to fewer matches played. UEFA prize/tv money exceeded matchday.   Commercial income at record level, includes merchandise sales, hospitality etc.

Biggest cost for club is wages, Leicester paying £85 for every £100 of income. Down on previous season but still £100m more than when won Premier League. Average wage was £84k a week.

Leicester borrowed £115m in the year and made repayments of £68m. Since the year end owners have written off £194m of loans into shares but still has £80m of bank debt.

Leicester City’s chief executive Susan Whelan has admitted that the club may have to sell players.   The only asset who could attract a substantial fee is James Madison who is entering the last year of his contract.