Leicester City: Nigel Pearson believes future is looking bright for club
Leicester City boss Nigel Pearson believes Leicester City are in a better financial position than the recent financial report suggests.
City's financial report for the season 2011-12 revealed record losses of £29.7 million.
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Leicester City boss Nigel Pearson
A major cause for the increase in losses of £14.5m on the previous season was a direct consequence of the significant investment made in the playing squad with salary costs for the period rising to £27.7m from £16.6 m the previous season.
Pearson said the club had since undertaken measures to address the financial losses and that he had personally worked hard to shape his squad so it was competitive, but had a reduced wage expenditure and a greater sell-on value.
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"The club is working exceptionally hard to put the club in a long-term financially stable position," said Pearson.
"There are of course issues we need to address and we are working very hard at that. The figures that come out are things that influence that but we are working very hard as a club to make sure our long-term future is stable.
"We have owners who are fully committed to the club and an infrastructure which is very professional.
"We have to try to cut our cloth accordingly. It doesn't happen overnight.
"There are going to be slight anomalies in terms of how the figures appear but I can assure everyone there is a commitment to put ourselves in a financial situation which ensures the club has a stable future."
Pearson said the cost and value of the squad now was much different to the one he inherited in November, 2011.
"I am happy to work the way I work," he said. "We have to try to get a squad that is competitive and I think we are.
"We have a squad which is good and I think we have a squad that is actually worth something now.
"We have a number of young players who have a value, which is a completely different scenario to the squad I inherited.
"The value of that squad in terms of resale ability, we didn't have many what you would call assets.
"It is always difficult to get the balance right. We expect ourselves to be successful on the pitch and we will work hard to do that, but the job is bigger than just going out there trying to win football matches.
"Although on the surface, whenever you see financial figures, there is a tendency to look at just the negative side, but I do know we are in a much better position.
"We have a squad with value and we are working hard to bring the wage structure into a realistic zone.
That is something we will always try to do to make sure the business is a sound one."
8 Comments
by TheGeofflane
Sunday, March 10 2013, 10:38AM
“In case you didn't notice, Foxfan1, Obama won. And he won despite the huge debt and stupid wars he was left by Bush. Intelligent East and West Coast 1-0 Vast Redneck right-wing, gun-toting interior. And he won despite a hostile (Fox News) press. Like him, Nigel's been successful everywhere he's gone, and one bad run of results certainly won't panic him. Unlike you. Life is not a bed of roses all the time. Yesterday we signed another youngster, on a free, from Chelsea. We have to balance the books. A bit like Obama after Bush's trillionaire disasters. In our case it's your hero, Sven.”
by squirril33
Saturday, March 09 2013, 5:10PM
“To almost quote the two Ronnies."It's goodbye from me and goodbye TO him"”
by foxfan1
Friday, March 08 2013, 11:11PM
“Take no notice whatsoever of the "idiot" theGeoffLane....typical of the looney liberal left here in the States who think Obama is the best thing since sliced bread!...yet reality shows he has put the nation onto unsustainable debt, grew the jobless stats, has no intention of stopping his out of control spending...yet, we have millions of morons who say "I like him...I voted for him"...
The FACTS are that Pearson has let two of his most gifted youngsters out on loan, fully aware of St. Ledgers long term injury & the fact that he signed a total "crock" in Whitbread...leaving him with an unbalanced bench on Tuesday night, hence an attacking wide player in Dyer being asked to play at full back & getting totally exposed there...
Squirrill's spot on...total bull & some people swallow it hook line & sinker..
They need Jack Nicholson yelling in their ear..." You want the truth?....you can't handle the truth"...”
by squirril33
Friday, March 08 2013, 4:42PM
“just utter bull .... But some folks swallow it. Methinks verily Noone will have to listen to it very much longer.”
by TheGeofflane
Friday, March 08 2013, 4:12PM
“Some of our regular moaners should read this article - if they can.”
by TheGeofflane
Friday, March 08 2013, 4:08PM
“I think NP handles 'ego players' superbly, he sends 'em on loan to experience the post-Sven real world, or gets rid of 'em entirely. Name ONE who's doing well. One has retired, one is in court in Ghana, several can't stay fit and only Danns is doing well. NP's been 'out-thought' so often he's 5th out of 24. And Schluppie's been played 'out-of-position' all the way to Man.Utd. What idiot thought he could play at full-back? Anything else fairbanksh? You really don't get it at all.”
by fairbanksh
Friday, March 08 2013, 3:17PM
“I really dont get this.
NP cant handle ego players he has been out thought far too often this season tactically. He has no plan B and several players are played out of position . The bench has no impact (full of has been favourites).
Must do much better NP. Ps try communicating with supporters a little more”
by Surrey_Fox
Friday, March 08 2013, 1:12PM
“For me you are doing a great job NP. All fans with any sense can see that the squad has a youthful feel to it but underpinned by some real quality. I hope we get the promotion we are looking for this year but if not I am fully convinced the club will achieve it next year. I think the club is in a more positive position now than it has ever been in since 2000.”