adminThat’s according to football finance expert Kieran Maguire, who has highlighted the consequences of the Foxes’ demotion to the third tier of English football.
Maguire, who hosts the Price of Football podcast, estimates the average wage bill in League One to be around £9 million, while Leicester’s last season costs were around £150 million.
With television revenues far lower in League One than the Championship never mind the Premier League Maguire believes owners King Power International, led by Aiyawatt ‘Top’ Srivaddhanaprabha, will have to make up the financial shortfall.
He told talkSPORT:
> “I don’t think they’ve got a lot of money coming in, so realistically it’s going to have to be a fire-sale, and the other thing is that the owner is going to have to dig the club out… It really does now come down to the level of commitment from the owner, which has been missing in recent years.”
Maguire added that Leicester cannot simply cancel or escape player contracts after relegation, even twice, due to existing agreements.
He explained:
> “You say the players will walk away, well the average wage at Leicester last season was £67,000 a week and if they’ve got a contract, which has another two or three years remaining, they can say to Leicester ‘You either pay us up or we stick around’ because the players’ first responsibilities are towards their families not the club owner.”
“Aiyawatt doesn’t have any funds to invest in the club don’t be deceived King power are broke and the only option is to sell the club.”
On his commitment to the club, Aiyawatt Srivaddhanaprabha previously told Sky Sports in January:
> “One hundred per cent I commit to support the club and I do it even now.”
However, speaking after relegation was confirmed following the draw with Hull City, he said:
> “I did stay here 15 years and I put in a lot of money.”
When asked if that would continue, he replied: “I will try.”
Abdulhafiz Teslim
admin
