Why Leicester City owner would spend more money but can’t
By Nathan Wong
Like most non-top-six clubs, it seems like Leicester City are always fighting an uphill financial battle against wealthier Premier League sides. Despite competing with the very best over the last few years, the Foxes have always faced an uphill struggle to consolidate their progress. Whilst LCFC have traditionally been a selling club, the abandonment of that model recently led to a restricted transfer window, due to the looming fear of financial fair play.
Furthermore, with City’s wages recently at a record 105 per cent of revenue, this led to the club being placed on UEFA’s watchlist last summer. Fortunately, the situation is likely to be ameliorated in future accounts due to the departure and upcoming departures of several high-earners.
FFP is without a doubt, a controversial rule in the world of football. In short, Premier League rules limit club losses to £105m over a three-year period. Designed to ensure that clubs remained sustainable and didn’t spend beyond their means, many have seen it as another way of preserving the footballing elite. The fact that clubs such as Manchester City have breached FFP multiple times without much punishment has severely damaged its credibility.
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Why the Leicester City owner would spend more money but cannot
When asked about the topic, Brendan Rodgers was hardly convinced about FFP’s merits, as reported by the Leicester Mercury. In fact, he stated bluntly that “I don’t think FFP has worked.” Rodgers then went on to say that Leicester are being held back by their comparatively low levels of commercial revenue and that this has prevented Khun Top from spending any more money.
The gaffer also stressed that Leicester’s owner would spend more money if he was allowed to. This helps explain the reasoning behind the slow-moving stadium expansion which will hopefully help bridge the financial gap.
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In light of this admittance, it is likely that LCFC will have to maintain their buy-low, sell-high policy if they are to continue to compete. This will mean selling star assets such as James Maddison and reinvesting the fee received. Whatever happens, this summer will be a pivotal moment that will decide the upcoming ambitions of Leicester City football club.