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Bill Kenwright

Should Kenwright step down as chairman?

  • yes

    Votes: 734 90.0%
  • no

    Votes: 82 10.0%

  • Total voters
    816
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I am 100 percent sure that Bill found a way to be kept on as part of an undisclosed agreement that the stadium is finished. The reality is he has used that leverage to keep his fingers in the inner workings of the club and facilitate the old boys network in the club and media as business as usual for himself.
 


I am 100 percent sure that Bill found a way to be kept on as part of an undisclosed agreement that the stadium is finished. The reality is he has used that leverage to keep his fingers in the inner workings of the club and facilitate the old boys network in the club and media as business as usual for himself.
At the end of the day, Kenwright pulled a leveraged buy out of the club.

A leveraged buy out, for those who don't know, is when you borrow the money to buy a business....and then use that businesses assets and cashflow as scrip to repay the debt. You gut the company, but at the end of it, you own it and it cost you nowt.

When you perform an LBO, the only thing that matters is repaying the debt and keeping control. Investment in the future, your standing versus your competitors, acquiring or developing assets - none of those things are able to occur because the resources are being used elsewhere.

Kenwright is no saviour. He's a smart opportunist - *** ******* ** * Everton *** - that has made out like a bandit. He deserves no more or less praise than that.
 
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At the end of the day, Kenwright pulled a leveraged buy out of the club.

A leveraged buy out, for those who don't know, is when you borrow the money to buy a business....and then use that businesses assets and cashflow as scrip to repay the debt. You gut the company, but at the end of it, you own it and it cost you nowt.

When you perform an LBO, the only thing that matters is repaying the debt and keeping control. Investment in the future, your standing versus your competitors, acquiring or developing assets - none of those things are able to occur because the resources are being used elsewhere.

Kenwright is no saviour. He's a smart opportunist - who happens to be an Everton fan - that has made out like a bandit. He deserves no more or less praise than that.
I disagree with the bold part.
 

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