Menu
Finance

Leicester City Announces £16.4M Profit With Help From Premier League Title

EPL side Leicester City announced a pre-tax profit of £16.4M for the year ending May 31, 2016, according to the LONDON TIMES. The club’s turnover increased by more than £24M from the previous financial year, "mainly due to the prize money earned from the club’s unlikely Premier League title win" in '15-16. Leicester finished 14th in '14-15. Increased domestic TV revenue and "an upward swing in attendances at the King Power Stadium also contributed to the rise in revenue." The club's profits dropped around £10M from the previous 12 months "despite the title success, mainly due to increased investments in the first-team squad." The club also upped its charitable donations, including £2M toward the "development of a new Leicester children’s hospital," and invested £3.5M into its "fixed asset infrastructure" (LONDON TIMES, 3/2). The BBC's Simon Stone reported Leicester City confirmed it is "legally challenging a Football League charge" of breaching Financial Fair Play rules in '14. Leicester City said that it was "confident the FFP charge would be dropped." The Foxes exceeded the permitted £8M loss "when they won the Championship" in the '13-14 season. The club posted a loss of £20.8M but said £13M of it was "allowable" as it included costs "relating to the club's promotion and academy expenditure" (BBC, 3/2).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2017/03/03/Finance/Leicester-profit.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2017/03/03/Finance/Leicester-profit.aspx

CLOSE