Brendan Rodgers could feel the Leicester pinch as the club announced a pre-tax loss of nearly £100m for the financial year.
The Foxes have put the figure down to not selling star players, or “retaining primary playing assets” aside from Wesley Fofana’s £80m move to Chelsea, along with an increase in wages in order to persuade their best to remain at the King Power Stadium. This year’s number is almost three times that of last year, which saw a pre-tax loss of £31.2million.
That’s despite raking in £214.6million after finishing eighth in the English Premier League and reaching the semi-finals of the Europa Conference League. That was down on the previous year’s revenue of £226.2million, which is attributed to a “reversal of accounting timing differences.” Premier League revenue was down £6million due to finishing three places lower than in the previous campaign, which saw a second successive fifth place achieved under Rodgers, as well as lifting the FA Cup for the first time in Leicester's history.
Fans grew frustrated with the club’s comparative lack of investment during the summer transfer window. Backup goalkeeper Alex Smithies was the only addition until they paid £15million for Belgian centre back Wout Faes, although that was the sum total of their summer business despite that mammoth Fofana fee.
Harry SOuttar arrived for £15million on transfer deadline day in January .Left back Victor Kristiansen and Brazilian winger Tete were the other winter window signings.
Now former Celtic boss Rodgers faces a fight to keep Leicester in the top flight. They are just two points above the relegation zone and the financial picture could look even bleaker should they not manage to keep their heads above water, and return to the Championship just seven years after winning the top flight title.
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