Leicester City Is Having a Financial Crisis, Is It Really Happening ..?

Leicester City Is Having a Financial Crisis, Is It Really Happening ..?

The Foxes, Leicester City are reportedly not doing well, they can only be silent in the hustle and bustle of the luxurious transfer rotation, even Leicester City has been named the only club in the Premier League that hasn't signed a single player at all.

Let alone bringing in players, what they are after has not been widely disclosed in the media, when the current situation is even chaotic, they are also required to clean up the players' warehouse. What's the real problem at Leicester City?

Talking about finances, please note that Leicester City is owned by the Srivaddhanaprabha family from Thailand, through King Power International Group. Aiyawatt Srivaddhanaprabha acts as the owner, he is the son of the late Vichai Srivaddhanaprabha who died in a helicopter crash in 2018.

Under the crown prince, Leicester City is currently struggling in terms of finances, especially the club's bookkeeping, it is undeniable that during the last pandemic their balance sheet was minus and their expenses turned out to be bloated, let alone the transfer of Leicester City last season was not too significant.

In terms of revenue they last earned significant revenue when selling Harry Maguire and Ben Chilwell, last season's spending of approximately £50 million on Patson Daka, Boubakary Soumaré and Jannik Vestergaard also contributed to Leicester City's balance sheet. In addition they are also working hard through their owners to invest heavily in infrastructure development, a new training ground as well as the rejuvenation of the King Power stadium.

These are some of the things that are the basis why Leicester City can only stay silent in the transfer market this season, now a new problem arises when financial fair play begins to stalk the Leicester City stronghold. Therefore they inevitably have to balance the balance sheet as soon as possible and selling players is the only way they can go, so that later they can bring in new players this summer.

That's exactly what their coach Brandon Rogers said, Rogers was aware of the current state of their club. Rodgers, who although desperately needs an injection of new players to compete next season, tends not to strongly oppose the management to take immediate action.

Obviously we have to make some sales before we can get players in. We are not in the same position now as some other clubs. Rodgers further said that he will work with the existing players, he will try to maximize their abilities. As for if the club does something in the transfer market, for Rodgers it will be very encouraging, what Rodgers is reporting is the situation that is actually happening now at Leicester City.

He also realized that in addition to the swelling of the balance sheet, they were also experiencing problems with the swelling of the squad from the quota of 25 players for the League and European competitions. Leicester City actually had a surplus, they were forced to not register several players including Nampalys Mendy who could not be registered in the Europa League before finally being included when Filip Benkovi left in January 2020.

That kind of situation is a dilemma for Rogers if he wants to bring in players, the former Liverpool manager must sell a few players first, seeing Leicester City who will not participate in European competition do the laundry without a problem. Moreover, the fox needs to do that to balance finances while at the same time streamlining the squad, of course the move to clean the warehouse can be said to be effective.

Unfortunately, when Leicester City had to make an overhaul of their head of recruitment squad Lee Congerton had not been there since March 2022, losing a head of recruitment like Lee Congerton to Atalanta was a loss for Leicester City.

Moreover, Lee Congerton is the figure who managed to bring in great talent at an affordable price such as Wesley Fofana, Justin and Castagne. In fact Leicester City have already found a replacement for Martin Glover, whose head of recruitment at Southampton will be appointed as the new Head of Recruitment.

But unfortunately Glover is still unable to work at Leicester City, because Glover's former club Southampton still want Glover to complete his last summer transfer at Southampton, before moving to Leicester City.

Therefore, the position of Leicester City's head of recruitment is now vacant, which is what makes Leicester City difficult in the transfer market. Although business director John Rudkind, assisted by Brendan Rodgers, has taken up the vacant role for a while.

In terms of selling good players from the time of Head of recruitment Steve Walsh, Eduardo Macia to Lee Congerton, Leicester City is one of the champions in the English League. After winning the Premier League they always getWith a significant income in terms of player sales, Leicester City has so far collected at least a total of 257 million Pounds for six star players such as Kante, Drink Water, Riyad Mahrez, Harry Maguire to Ben Chilwell.

It's true that the laundry system is the only thing to balance the financial and squad swelling, but when that happens with their stars Rodgers can't stop some of the star players from leaving. In order not to swell the finances of selling players whose contracts are running out is a better solution than releasing them for free next season, there are several Leicester City players who are being targeted by the top teams in the Premier League.

Rodgers should start thinking about which players will be released and which players will be retained, the decision will be very decisive, in addition to guiding Leicester City out of financial problems Rodgers can also assemble the squad as soon as possible considering the transfer market is almost closed. There is no time for him other than to prepare the squad, if he does not immediately decide he will be forced to play with the squad as it is, with the squad that was tried during pre-season, that is the squad that Rodgers inevitably has to use in the early Premier League matches.

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