The Accounts...

[AndyC]

Here's the link to the official accounts that make for some grim reading... if you have the time and appreciation of how a set of accounts are compiled (not a smartass comment, there are many on this forum perfectly capable of reading accounts)...

https://resources.evertonfc.com/evertonfc/document/2022/03/29/7e521047-6d5d-4d2a-af97-1ac4b40137fd/Report-and-Accounts-RGB-A4-v27-SPREADS-.pdf

Following the release of arguably these, the worst set of accounts in the history of Everton Football Club, Esk - who has been consistently correct in predicting the financial plight the club finds itself in - has penned this brief summary of where we're at and how completely dependent upon Moshiri the club currently is.

Everton Report & Accounts for year ending June 2021 – wholly dependent on Moshiri’s financial support

First things first, delaying the publication of reports signed off on 29th October 2021 for a full five months is totally unacceptable from a transparency and accountability perspective. I am aware…

theesk.org

 

[Daveysgingerlovechild]

Here's the link to the official accounts that make for some grim reading... if you have the time and appreciation of how a set of accounts are compiled (not a smartass comment, there are many on this forum perfectly capable of reading accounts)...

https://resources.evertonfc.com/evertonfc/document/2022/03/29/7e521047-6d5d-4d2a-af97-1ac4b40137fd/Report-and-Accounts-RGB-A4-v27-SPREADS-.pdf

Following the release of arguably these, the worst set of accounts in the history of Everton Football Club, Esk - who has been consistently correct in predicting the financial plight the club finds itself in - has penned this brief summary of where we're at and how completely dependent upon Moshiri the club currently is.

Everton Report & Accounts for year ending June 2021 – wholly dependent on Moshiri’s financial support

First things first, delaying the publication of reports signed off on 29th October 2021 for a full five months is totally unacceptable from a transparency and accountability perspective. I am aware…

theesk.org

From the Esk's summary:

"The question remains, why does he persist with this appalling management team having committed so much money to see a hugely loss making club on the cusp of falling out of the Premier League whilst building a brand new stadium?"

Quite.

 

[AsiaAsia82]

Because he used to let BK sit on his shoulders when they were both in the boys pen.
Before BK was in Corrie and Mosh was Vic Reeves

 

[GlosBlue]

It is grim. But aren't most modern Premier League teams essentially reliant on the owners? ?Most of them can't possibly pay the transfer fees and wages they do purely on tickets, shirts and tv money? Look at Chelsea now Abramovich has been sanctioned.

 

[Bohemian Toffee]

How much longer can this go on?

Truly appalling state of affairs.

 

[4737carlin]

How much longer can this go on?

Truly appalling state of affairs.

I would say not long, not a chance can we spend much in the summer, serious eyes will be on us, were allready treading a fine line.

 

[Thomasc]

As badly as the club is run, the one thing that cannot be questioned is Moshiri’s financial commitment.

Obviously we’d all much prefer to see a club run well though and not reliant on his cash injections.

 

[blue to the bone]

Remember when we were bidding crazy money on players and people saying they don't care it's not my money. Crazy that people couldn't see that reckless spending would eventually cause massive problems.

 

[tommye]

 

[EverTheOptimist]

It is grim. But aren't most modern Premier League teams essentially reliant on the owners? ?Most of them can't possibly pay the transfer fees and wages they do purely on tickets, shirts and tv money? Look at Chelsea now Abramovich has been sanctioned.

Abramovich just gifted them £30 million last week to tide them over till the new ownership proceedings have finished, they were once again like last season struggling to pay wages for the coming month like they were in April and May.

 

[Mr K.Dilkington]

Abramovich just gifted them £30 million last week to tide them over till the new ownership proceedings have finished, they were once again like last season struggling to pay wages for the coming month like they were in April and May.

Yuck, you're still here

 

[Martin Alvito]

The financials tell me what I would expect to see: by any reasonable standard, the club is bankrupt. It's only being kept afloat because its largest creditor apparently thinks he can eventually recover enough of his outlay and continued cash injections to make doing so worthwhile.

It is grim. But aren't most modern Premier League teams essentially reliant on the owners? ?Most of them can't possibly pay the transfer fees and wages they do purely on tickets, shirts and tv money? Look at Chelsea now Abramovich has been sanctioned.

Post-COVID, most clubs are in a bad spot. Ours is worse than most due to the magnitude of the cash bleed, relative to the value of assets. Look at it this way: suppose you had the choice of buying West Ham or Everton. West Ham's operating loss and cash bleed are about a quarter of ours, in both cases. If West Ham is worth around 600 million pounds (based on the sale price of a 27% stake a few months ago), we're not.

I can't see why he's still throwing good money after bad. It implies that he cares, which is a good thing. I also fail to see how doing so is anything other than sunk cost fallacy, viewed rationally.

 

[Goat]

I think its unlikely we will ever find the Arteta money at this point.

 

[Goat]

It is grim. But aren't most modern Premier League teams essentially reliant on the owners? ?Most of them can't possibly pay the transfer fees and wages they do purely on tickets, shirts and tv money? Look at Chelsea now Abramovich has been sanctioned.

I think us and Chelsea were the only teams, bar Newcastle now probably that was mostly funded by their owners.

The fellas at City do it a "different way".

 

[BNJ1878]

Moshiris financial commitment? 10/10

His judgement in allowing an executive leadership team to remain in place after a quarter century of steady decline? 1/10.

A truely baffling arrangement going on in L4.