New Everton Owners: The Friedkin Group

[davek]

Might be more than ironic if TFGs tactical withdrawal from purchase negotiations with Moshiri in July ncomes back to cost them the time needed to respond now to an escalating situation.

I read yesterday that the absence of a permanent CEO may also have a bearing on any decision regarding Dyche though surely it wouldn't block them in the final analysis.

I can understand them wanting the right deal for TFG and ensuring Moshiri walked away with less - they can argue that is money which they can ultimately reinvest in the club.

But things are coming to a head on the pitch now and for the January window. We don't yet have a new CEO - I can understand them waiting on someone working out their notice.

They may have thought they could get through January and beyond largely as things are but I hope they realise now that that's not the case.

Assuming Marc Watts is overseeing things day to day, the other parts of the jigsaw need to fall in place soon. The next couple of weeks are absolutely critical. The decision makers need to be hands on and very much engaged.

As if they couldn't have also been lining a CEO regardless of the stalling.

 

[MikeH72]

Not this time they won't, they are expected to get the book thrown at them this time, sounds like they could be in a fair bit of trouble.

Let’s see. I think there’ll be a technicality/loophole that they’ll get off with.

 

[hoppy]

Everton projected to announce £46m financial deficit
Everton’s ability to spend in the transfer market is contingent on keeping their losses within the Premier League’s £105m threshold over three years, with certain costs exempt from the calculation.

In 2022-23, which is the only financial year relevant for the current PSR assessment window for which data is publicly available, Everton lost £89m.

 

[hoppy]

However, as relayed by renowned finance writer Swiss Ramble, allowable deductions will likely have seen the loss for PSR purposes fall to around £63m.

In his latest blog post, Swiss Ramble forecasts that Everton will soon officially announce a £46m loss for 2023-24, although that too will be cut around £23m for PSR purposes after allowable deductions.

 

[brieverton]

As if they couldn't have also been lining a CEO regardless of the stalling.

I agree. I was surprised on takeover day that they didn't announce an appointment.

 

[hoppy]

In theory, that means Everton can post a £30m PSR loss (i.e. with PSR-exempt costs factored in) and remain compliant this season.

Swiss Ramble’s projection is that they can post a £42m loss in real terms and stay within the Premier League’s parameters, giving them a little flexibility this January.

 

[catcherintherye]

Let’s see. I think there’ll be a technicality/loophole that they’ll get off with.

I highly doubt that mate. They will get a big deduction, as will City.

But you are right, our approach should be looking to push up the table, irrespective of what happens below us.

 

[catcherintherye]

In theory, that means Everton can post a £30m PSR loss (i.e. with PSR-exempt costs factored in) and remain compliant this season.

Swiss Ramble’s projection is that they can post a £42m loss in real terms and stay within the Premier League’s parameters, giving them a little flexibility this January.

The business is quite loss making though, albeit less so now, especially with the interest costs on debt substantially reduced (by circa 50m a year, potentially more).

 

[RomanReigns]

The business is quite loss making though, albeit less so now, especially with the interest costs on debt substantially reduced (by circa 50m a year, potentially more).

a lot of wages being saved in the summer though

so many players out of contract

 

[catcherintherye]

a lot of wages being saved in the summer though

so many players out of contract

Yes we have lowered our costs a lot. Both on wages and amortization. I did a calculation and I think I came at cautious 20-25m a season.

I think we are fine this season and there is some wriggle room.

We have announced a bigger shirt sponsorship and some stadium stuff too which will be another 15m (and maybe more to come).

It doesn't sound a lot, but you add say 15m to 25m to 50m on lack of debt and you are close to 100m turnaround. Which is more than the club was previously losing pre player trading

 

[brieverton]

Some speculation that the refinancing facility through JP Morgan for the stadium is at ca. 3% lower than that for R&MF and longer-term.

Given R&MF interest was supposedly 10% pa, it seems rather high still.

 

[jimmythenut]

Some speculation that the refinancing facility through JP Morgan for the stadium is at ca. 3% lower than that for R&MF and longer-term.

Given R&MF interest was supposedly 10% pa, it seems rather high still.

Might be where we free up funds for transfers and a new manager.

 

[Bluelenny1984]

If Leicester are certs despite being only 3 points behind us, then I’d be extremely concerned. There’s nothing to suggest Ipswich will fall away as well, as they actually appear to be improving rather than getting worse.

We are extremely concerned, I’m simply saying that there position coupled with a likely points deduction could see them cut adrift, and I’m not saying we aren’t bang in trouble in fact my post says as much. I don’t think the owners are looking at us as a calculated risk, history suggests Dyche will get the results he needs.

Don’t get me wrong I want him gone, but I don’t get to make the decision so all we are left to do is speculate.

 

[Bluelenny1984]

There is no way they wont replace him if we are in the relegation zone with say 5-10 games to go. And we will be with him in charge.

I think if he doesn’t get a win very soon he’s gone, truth is I think if there wasn’t a wider issue of PSR and cost he would already be gone. The only reason is still here is the financial issues and the logic that a complete reset in the summer makes the most financial sense.

 

[Evertonthat]

In theory, that means Everton can post a £30m PSR loss (i.e. with PSR-exempt costs factored in) and remain compliant this season.

Swiss Ramble’s projection is that they can post a £42m loss in real terms and stay within the Premier League’s parameters, giving them a little flexibility this January.

Surely now that we arn't paying of loans (with ridiculous interest), and with the increased stadium revenue and naming rights deal on the horizon, we will have more leeway to spend this calendar year... so we should have scope to buy in January.