Whistlin' Dixie
Player Valuation: £50m
No, you're right......It couldn't possibly be Malaysian........
Their planes go down quickly in Ukraine - our deals don't.........
(I'm here all week
)
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
- Status
No, you're right......It couldn't possibly be Malaysian........
Their planes go down quickly in Ukraine - our deals don't.........
(I'm here all week
)
marty mcfly
Player Valuation: £40m
I think when it come to the finances the club won't be able to explain away the extra TV money. We will need to see where it is spent. Either on the team or on the stadium. Ultimately where is not our decision since that's for the board to decide but we have to see clearly the fact that it has been spent on these two areas. I honestly don't care about the financials of the club. They're the only two issues I really care about and if it appears that the board can't continue running Everton without having to borrow to survive until a new TV deal saves them then they need to go. The TV money won't continue to increase and where will that then leave us.
MickA
Player Valuation: £10m
Mate, the summer of 2015 is far from the first time that such questions have been asked. This Board have swept all under the carpet before and they will do so again. Other operating costs, academy, wages, re-signs, lawnmowers etc
It's the reason why more direct and militant action is currently on the agenda as they will simply continue as before.
Foot Long Hot Dog
Player Valuation: A packet of pork scratchings
So fraud then?
orchard
Player Valuation: £60m
Not necessarily is it ? Loaning from one company to another, like Lerner (with interest) to Villa for example.
Woolly Blue
Player Valuation: £80m
Once you've got into a cycle of borrowing against future revenue, it may well take a while to break that cycle.
Hopefully, given the clubs finances are better than they were a few years ago then we'll :-
- Be borrowing at a lower interest rate and
- Be reducing the amount borrowed with a view to totally knocking it on the head in ( say ) 3 or 4 years.
Foot Long Hot Dog
Player Valuation: A packet of pork scratchings
If one company is loaning the other cash it doesn't need and is sitting in its bank, whilst paying commercial interest rates on it, with the inference being that the sole purpose being to leverage some profit out of the company loaned the cash, then I'd say that's not in the best interests of the shareholders.
It's a nonsense suggestion, they've obviously loaned the cash in order to spend it, we'll find out in the coming days on what...
marty mcfly
Player Valuation: £40m
The extra TV money and still no net spend has made a difference to me.
marty mcfly
Player Valuation: £40m
That is still fraud if it is not at market rates or in the interest of the club. There are minority share holders in Everton and they still have rights. The board under corporate law can't do what you are suggesting. Whether they are doing it or not I have no idea but if they are it is illegal.
Whistlin' Dixie
Player Valuation: £50m
Maybe not. Maybe they'd
orchard
Player Valuation: £60m
Thanks, but it's not fraudulent then, strictly speaking ? Also, when only the shareholders that seem to matter, yanno, the ones with the controlling stake and the only one's who can find out what's going on (if they want), only have a duty towards themselves. Besides, 'cash in the bank', in football, is there for contingencies, which could quite easily be justified if required, no ?
It basically seems (from what I can see) to be a roll over of the current factoring agreement. They may have increased or decreased the amount, you can't tell from that. The WatchedToffee crew seem to be confused by the 16/17 reference, but if you actually read the document it refers to amount payable by Premier league in May and June 2016. Basically the Basic Award Fund is seemingly paid out at the start of the season (Rule book is here http://mobile.premierleague.com/staticFiles/85/d/0,,12306~134533,00.pdf), sections C34-35, not explicit but where its paid at the end they seem to state that). so the charge is against the Basic Award Fund for 16/17 and various payments from the 15/16 season (page 14 of the linked filing).
That WatchedToffee twitter account has made some pretty sweeping assumptions tbh. They may turn out to be correct for all I know but their method of linking events is pretty weak. They make a big detailed analysis of Vibrac and a couple of other companies, and sum it up at the end with "And that investor? Philip Green." without providing any linkage between the two.
They go through some apparently shady dealings with a Uruguayan football club, and then say it makes the Mori and Rodreges (can't find his name offhand for the spelling!) "very smelly". One is unconnected to that club, the other is unconnected with Uruguay altogether.
The whole account is a little odd, although pretty in keeping with the three or four guys I think are behind it in phraseology.
orchard
Player Valuation: £60m
Market rates ??? Is this even a thing ? The minority shareholder's have some rights, I believe, not a lot though, I think @the esk mentioned them a while ago.
I'm not suggesting it's the case, but it's possible I reckon, and like I said, Lerner did it with Villa (although he's waived interest a couple of times), and it's probably fairly common.
Foot Long Hot Dog
Player Valuation: A packet of pork scratchings
No business goes to a bank or commercial lender and goes through the painful process of arranging a multi million pound loan, with no plan as to what they're going to do with the cash. It simply doesn't happen and it's not the case here either.
- Status