Everton and zero money - Updated 17/11/23

Alpherah said:
Difference being, we have options .. we'l be fine without ground share. So thanks but no thanks.

Everton on the other hand, without ground share (Which we'l have to pay pretty much everything towards it seems) they seem to be a bit buggered.
Thats not a good enough reason for us to give up half a stadium we'll have to pay for to save a rival.

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I should also add, whilst i might seem a bit bitter, its nothing most Everton fans don't deserve for their attitude towards us during the H&G fiasco. Revelling in the fact we'r "going down" and our owners having drained all the cash from the club.

It's sweet, bitter sweet, that they now appear to be begging on their knees to the council and us for a ground share to save themselves from the real problems they've faced over the last 10 years, which a few fans are finally waking up to the truth that its not Liverpool which are/have crippled them but their idiot board
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begging really? Where did you read this, we would rather stay at goodison to be honest with you... I'm good friends with a few reds and I have no bitterness towards them at all... there is banter of course but nothing more then that...

Stelly
 
dannyjo22 said:
Most clubs pay wages, spend beyond their means. It's a ridiculous scenario that has to be stopped completely no matter what club it is. It will force prices down and wages.

Kenwright isn't the only one looking though is he, wasn't a team assembled to find a buyer. I'm pretty sure in another season or two we will go bust. Someone will either pick up a bargain or we will dissapear.

I have to say now it takes 50-100 million in the transfer market without wages to try to catch up and compete and a billionaire to have as a trainset I really don't care any longer.

Clubs like Arsenal Liverpool etc should not even be spending beyond their means. The whole wages and transfer format needs a whole new set of rules to make these clubs run as a profitable business, won't happen though.
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I don't know the finer details of any search for a buyer but I've heard many Evertonian's doubt whether Kenwright et al are (or at least were) actively trying to find a buyer. I also got the impression that the guys that met with Kenwright weren't impressed with Kenwrights efforts to sell the club either.

And I agree that something needs to change in regards to the amount of money spent on wages and transfer fees. However (as I said in my other post) while the situation is like it is then Everton have 2 choices, cut back on what they're spending or accept that they have to develop and sell on a player of the likes of Baines every season.
 
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Something has to be done to boost the club’s revenue, as the profit and loss account looks simply awful. Last year, even when the club reported record turnover of £79.7m (an increase of £4.0m on the previous year) on the back of a pretty successful season, they still suffered a loss of £6.9m. This is nothing new under the sun, as Everton have only managed to record a profit once in the last seven years – and that was only due to Wayne Rooney’s big money transfer to Manchester United in 2005. Since “Wazza” was sacrificed, there have been £27.1m of cumulative losses (2006 - £10.8m, 2007 - £9.4m, 2008 break-even, 2009 - £6.9m). Although revenue has significantly increased over the years, thanks to the arrival of Sky television money, this has been matched by spiralling costs. In 1999 Everton reported a loss of £10.7m on turnover of just £25.6m, so in the last ten years revenue has risen by a remarkable £54.1m, but less impressively this has only produced a slightly smaller loss.

"From Hair to Eternity"

The main reason for the cost growth is player wages, which rose by 10.3% last year alone from £44.5m to £49.1m. This “significant investment in the playing squad” gave rise to a higher wages to turnover ratio of 62%, which is nowhere near the worst in the Premier League, but is far from comfortable, even if the club considers it “appropriate”. On top of the salary levels, headcount is also increasing from 210 to 226 with “players, training and management” rising from 80 to 86. As a small compensation, at least the director’s remuneration, presumably Kenwright’s, has reduced from the £450k average of the last three years to “only” 244k in 2009. However, costs have not been helped by wasting nearly £3m on fees incurred for the design and planning of the failed stadium bid (£1.5m in 2008 plus £1.3m in 2009).

The losses over the years would have been even higher if the club had not been selling players. Over the last five years. £40m has been contributed by what accountants call “profit on disposal of players’ registrations”. The impact was most obvious in 2005 when Rooney’s sale resulted in a net profit of £23.5m, but you can also see its importance in the last two years. The club just broke-even in 2008, thanks to £9.2m profit from player sales, but reported an overall loss of £6.9m in 2009, when the profit from player sales was much lower at £3.8m (principally from the sale of Andrew Johnson to Fulham). This bodes well for next year’s results, which will include the £22m sale of Joleon Lescott to Manchester City.
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http://swissramble.blogspot.com/search/label/Everton
 
Alpherah said:
-edit-
I should also add, whilst i might seem a bit bitter, its nothing most Everton fans don't deserve for their attitude towards us during the H&G fiasco. Revelling in the fact we'r "going down" and our owners having drained all the cash from the club.

It's sweet, bitter sweet, that they now appear to be begging on their knees to the council and us for a ground share to save themselves from the real problems they've faced over the last 10 years, which a few fans are finally waking up to the truth that its not Liverpool which are/have crippled them but their idiot board
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Fair enough, but you will find not everyone is like that, just a view select more vocal idiots. I was as disgusted how badly run Liverpool was at the time and in all honesty had you gone bust took zero pleasure from it.

Even in the relative good times I'd have been pro ground share and preffered to invest the money in other areas :)
 
Stelly said:
begging really? Where did you read this, we would rather stay at goodison to be honest with you... I'm good friends with a few reds and I have no bitterness towards them at all... there is banter of course but nothing more then that...

Stelly
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There's a reason why ground share keeps coming to light, even after LFC's officially said a million times its not an option.

Your right about fans, i know some sound blues' as well! :)
Vast majority are complete urban-word-for-female-genitalia from my experience of away days to your place.

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There's a reason all the teams currently ground sharing are looking for options to separate. Non financial reasons are often as important as financial ones



Stelly said:
Full transcript of meeting if you want a read:

http://www.evertoniansforchange.com/?p=224

Stelly
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Thats the one! I especially like the comment that LFC fans won't shop in topshop if their owner associated with EFC heh. Sounds like a convenient excuse to me.
 
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Didn't beckford actually produce results when Moyes finally played him? He's one of those players who doesn't look particularly brilliant but with a run of games, produces. Sometimes a manager just has to play a player and see what happens.

He got 8 goals and only had 14 starts, 14 sub appearances. I can't stand that Wenger won't give Vela, or Bendtner, even Theo a chance upfront with a run of games.

Some players will look crap in training, put in no effort but they produce results on the pitch, considering they have him and he managed to get 8 goals in the league and some cup goals I think they'd be mad to be letting him go/loan as rumoured. He's certainly better than some of the premiership strikers around and you can't rely on guys like Saha even if they can be great when they are fit.

Hell Beckford only got one less than Cahill with more starts, and one more than Saha who had the same amount of starts, he had more sub appearances than both though.

Assuming Cahill plays more this season and you don't waste so much space on Anichebe 8 starts, 8 subs, no goals, and actually stick with Beckford I think Everton have enough goals in them to do alright.

Didn't Everton give Anichebe a new contract, its that kind of madness that is screwing them with wages. They only need to save a few million to go from an increasing debt to a decreasing debt, its a very fine line they are on.

I think Yakubu and Pienaar being gone will help in that respect and neither did anything for the team anyway.
 
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Independent reports that the bank have called in another loan, meaning Everton have to find some £20m before the end of the window.
Who's off?
 
Yakubu hasn't gone any where, we still have him.

There's a rumour going around, from a guy who probably knows more about what's going on at Everton than ****ing BK himself, that we've already taken out a loan through a bank based in the British Virgin Islands against revenues from the 2012/2013 season! We haven't even kicked off this season yet!!! :mad:
 
Alpherah said:
Who's off?
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Moyes, especially when Fergie dies or is forced to retire.

drunkenmaster said:
Hell Beckford only got one less than Cahill with more starts, and one more than Saha who had the same amount of starts, he had more sub appearances than both though.
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Cahill isn't a striker. God he may be but he's not a striker. :D It's the amount Beckford wastes that got on moyes nerves. When you consider the number of chances we will get in comparison to a better club it stands out.

The problem with Everton forwards and the same is true of Anichebe is they normally end up a lone man up front. Moyes seems to do that when we are up against it and we get nowhere. Anichebe looked good for a while with support and games. We don't have the quality or pace to leave a man isolated up top but that doesn't stop moyes trying it season after season.
 
This site sums up their plight quite succinctly

http://evertontime.com/

Personally I think it's about time Everton fans had to put up with a bit of relegation and yo-yoing like all us other proper supporters. 108 seasons in the top flight is just downright greedy IMO. Even Man Utd, Chelsea, and Liverpool have had the good grace to get relegated occassionally
 
Really feel for Everton, always liked them as a club in their own right - and imo Moyes is a great manager for that kind of level.

I do however find some of the stuff Kenwright says a little suspicious though (ie not able to find a buyer)
 
jonneymendoza said:
Arsenal dont have money either
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Yes they do but wenger(in whom we trust lol) refuses to spend it and he clearly knows best as evidenced by getting beaten by Pool and a **** draw against my **** club.

He's had money for years but clearly feels he doesn't need it. This season will more than likely prove him wrong, but at the end of the season he will probably "not see" the league table along with his players all legging it out the exit door like rats from a sinking ship.
 
A new loan taken out at the start of the month. I wonder if they've tried getting one of them pay day loans through Wonga.com yet? :( :(


http://www.scribd.com/doc/62701660/Vibrac-Charge-190811

In plain English, we have we've borrowed £13m (Premier League Basic Award Fund value) for a year at a cost of £1.3m from a company called Vibrac Corporation based in the British Virgin Islands. This was taken out on the 5th of August. It's not for new signings, it is for cashflow. Without it, we'd be in serious trouble. I think this is the "document to the bank which says you can’t stop the football club from trading" that Kenwright spoke of.

It's also a better price than the previous arrangements although borrowing from a BVI-based company may be an indication to some that Everton couldn't get another one from Barclays, South African bank Investec or another reputable bank as Kenwright's comments may have you believe. The mysterious company Vibrac Corporation, registered at Tortola seems to be an entity established by http://www.icazalaw.com based on the postal address.

It is also the same address as Robert Earl's BCR Sports which owns 8,146 shares in Everton:

Venterpool Plaza, Wickhams Cay 1, Road Town, Tortola, Virgin Islands (British)

It is feasible that Robert Earl has enabled Everton to continue trading, albeit at a cost of £1.3m.

It is a renewal of an existing loan from 2011/12 season, which in turn is also a renewal of a renewal (vicious circle):

August 2010 - Borrowed against 2011/12 Basic Award Fund - Cost of arrangement £1.6m - Bank: Investec

December 2010 - Borrowed against 2010/11 "Central Funds" - Cost of arrangement £1.6m - Bank: Barclays

August 2009 Borrowed against 2009/10 Basic Award Fund and FAPL Merit Payments Fund - Cost of arrangement - £1.8m - Bank: Barclays

So it's cost almost £6.5m since August 2009 to borrow against future income.

I may have posted this elsewhere but Everton made £49m from Premier League in 2010/11. This figure was £42m the season before. In other words, despite record turnover, we still can't afford to sign new players because existing funds are soaked up by player wages.
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