The Leicester City Diary examines the loans made with Macquarie, an Australian bank, and speculates on when the King Power Stadium expansion may begin.
According to the most recent documents filed with Companies House, three distinct loans have been negotiated, one of which is being used to advance Chelsea’s debt to City for the acquisition of Kiernan Dewsbury-Hall. The summer transfer of the academy product cost £30 million, although City did not get paid in full upfront.
Rather, the £10 million deal was divided into three installments. Although the first installment was paid in full, Chelsea must pay the second and third installments on July 14, 2025, and July 14, 2026. Rather than waiting for those payments, City have taken out a loan with Macquarie to collect them up front.
At City, this has long been the standard procedure. Additionally, they borrowed money on an installment basis in order to pay for the transfers of Timothy Castagne, Harvey Barnes, James Maddison, Wesley Fofana, and Riyad Mahrez.
One of the two remaining loans is backed by Premier League revenue that will be received by the team between September 2024 and June 2028. This implies that in the event that City drops out of the division during that time frame, the loan is also secured against any potential parachute payments due by the Premier League.
Once more, this is a common practice at City. They have been doing this regularly for the previous few years to assist the club’s cash flow.
Date set for New King Power Stadium expansion
Since the Section 106 deal was finalised in December of last year, there has been virtually little progress or information on the King Power Stadium expansion. It appears that there won’t be any movement for some time.
When fans asked a question about the stadium expansion at the club’s most recent Your 90 Minutes meeting with supporter relations officer Jim Donnelly, he responded that it was doubtful that work would start until 2026. The club received a five-year permit from Leicester City Council, so construction must begin by the end of 2028.
It will have been a long wait by the time the construction is finished, as the King Power Stadium expansion and renovation plans were initially made public in October 2021. With the addition of a new East Stand, the stadium can accommodate over 40,000 people.
City assistance for an odd, undesired record
All six of the teams that began the weekend without a win are still without a win: Wolves gave up a one-goal lead to lose to Aston Villa; City overcame a deficit to earn a 1-1 draw with Everton; Sam Morsy scored an equaliser for Ipswich at Southampton; and Crystal Palace played out a goalless draw with Manchester United. They’ve helped establish a new record by doing this.
For the first time in the English premier league’s history, five games in a row without a win has happened to as many as six teams. Though City still has some work to do before their longest winless streak ends.
They lost all seven of their games when they were demoted from the Premier League two years ago. They failed to win any of their first ten games in 1983–84.
CLICK HERE FOR MORE
