New Everton Owners: The Friedkin Group

[Neiler]

Yeah, and I forgot they also have a separate interest/taxation line on 5 of 9m, so it comes out to almost exactly 1m per week.

Yep I was thinking a month mate but wrote a week!

 

[PeregrineT]

Simms’ sale was July 2023 so would fall in these accounts released today.

You would think, right? But it says "The prior period included the disposals of players such as Anthony Gordon, Nathan Broadhead and Ellis Simms"

Which then makes sense why profit on player trading was 7-10m less than expected

 

[EFC_FRANCIS]

So Chelsea are just blatantly cheating then

 

[summerisle]

So Chelsea are just blatantly cheating then

*Still.

 

[Hinchcliffe's Corner]

#ThanksBigKev

 

[matty1878]

Now yes.

we will spend more then we have for a while!

 

[stretford blue]

So Chelsea are just blatantly cheating then

Creative accounting
They have definitely researched the loopholes in the system and used it to the maximum and £150m + valuation on there women's team

 

[MikeH72]

So Chelsea are just blatantly cheating then

Remember when we got warned about selling Dobbin to Villa for £10m

 

[dockroad]

Unbelievable how they get away with it. First the hotel now the women's team
GUARDIAN << Chelsea appear to have complied with the Premier League’s profitability and sustainability rules (PSR) through player sales and by selling the women’s team to the club’s parent company. Chelsea announced they had turned last year’s pre-tax loss of £90.1m into a pre-tax profit of £128.4m for the financial year ending 30 June 2024.
The results were filed at Companies House by Chelsea FC Holdings Limited and represent a significant shift after heavy losses under the ownership of Clearlake Capital and Todd Boehly in previous years. >>

 

[Marius57]

Interesting read...a few surprises, I think first of which for me is why wages stayed almost the same. Maybe theres something Im not understanding about that, but player amortizations dropped drastically from our player sales, so I assumed all those wages were off the books and we had cheaper contracts coming in...It was also interesting to see Simms sale was somehow on last years accounts, even though it was announced and listed by everyone as July 7th.

We removed 130m of amortizations and only added half that so seems that would be more drastic than just a 3m drop in wages. The 10.5m special charge for restructure and fighting PSR charges I find funny, league hits you for PSR and then hits you if you spend money to defend yourself against the league. The 24/25 books will be radical looking with all the upcoming changes to interest as well. Now Im curious to find out the delayed PSR change means we still get the option to operate under the 85% of revenue rule or they changed that.

Wasn’t a few mill of the fighting psr charges actually paying the PLs legal fees for them as they are deemed to have won?

They did drop the delayed psr charge though which I’m taking as an admission that they were wrong so we should be fine.

 

[EFC_FRANCIS]

Creative accounting
They have definitely researched the loopholes in the system and used it to the maximum and £150m + valuation on there women's team

If you're rich and at the top of the table it's creative accounting. If you're Everton or Nottingham Forest it's cheating and gaining a sporting advantage unfairly. First the hotel and now the women's team, on top of ridiculous 30 year contracts. It's laughable that us and forest got done when this is going on.

 

[EFC_FRANCIS]

Anyway now the precedents been set TFG should simply sell the women's team to LaFriedkinGroup for 100 million. Sell Goodison to them whilst we're at it for 300 million.

 

[Bez2k2k]

This whole woman team stuff isn’t new news.

 

[Frenk]

Unbelievable how they get away with it. First the hotel now the women's team
GUARDIAN << Chelsea appear to have complied with the Premier League’s profitability and sustainability rules (PSR) through player sales and by selling the women’s team to the club’s parent company. Chelsea announced they had turned last year’s pre-tax loss of £90.1m into a pre-tax profit of £128.4m for the financial year ending 30 June 2024.
The results were filed at Companies House by Chelsea FC Holdings Limited and represent a significant shift after heavy losses under the ownership of Clearlake Capital and Todd Boehly in previous years. >>

Absolutely scandalous! Corrupt!

 

[pfim]

Anyway now the precedents been set TFG should simply sell the women's team to LaFriedkinGroup for 100 million. Sell Goodison to them whilst we're at it for 300 million.

C'est chic.