The Esk
Player Valuation: £70m
The final payment for season 2013/14 was received post 31 May 2014. We know that because the Vibrac debt was still in place at the end of the accounting period. It is usually paid in early June.
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The final payment for season 2013/14 was received post 31 May 2014. We know that because the Vibrac debt was still in place at the end of the accounting period. It is usually paid in early June.
The Esk
Player Valuation: £70m
It's not a different world though, the basics of business still exist. You have to earn more than you spend and you need sufficient capital to build an asset of sufficient size to meet your earning requirements and keep up with your peers.
ijjysmith
Calm
Agreed but it goes a bit deeper.
In the extreme, by not investing in the playing squad this summer we are risking going down as our rival companies (teams) strengthen. Obviously relegation is extreme to say the least, but we could well be falling way behind from being quite a way ahead.
Sometimes in business you have to take a risk. 'Speculate to accumulate' is over used but something I very much believe in. By spending big you can earn big. I feel Everton would never risk this though.
Should the very worst happen you only have to look at the likes of Leeds, Sheffield Wednesday and so on to see how hard it can be to recover.
Having said all that. We probably won't go down.
The Esk
Player Valuation: £70m
I agree totally. If our owners do not have the capital, then they should invite others to invest alongside or they should sell the club.
Don't disagree with any of this, just that good football is buying young talent from Barnsley for £3M before anyone has heard of him and bad football is buying a Bayern/Inter failure for £12M because it's the best idea you've got. No doubt Everton should be spending more on transfers, but simply buying what people think you should buy because other clubs are buying is not good business. Good leaders don't follow the crowd, they cut their own path. (Whether Everton have good leaders is a different thought for another thread).
ijjysmith
Calm
The buying youth things is a bit different. It makes great sense buying young lads relatively cheap in the hope that in some years they they either improve your team enough to earn more capital of be sold off for way more. But it's hard and is the long game with equal risks. Imagine what we'd sell Mustafi for right now. But how could we know this?
The long game sadly doesn't help right now. Well maybe helps a little as Galloway and Browning come in and could well save us a load of cash as it looks like we only need one senior CB in deposits losing 2 in the summer.
ijjysmith
Calm
Yep. You'd hope they try and do this. But we don't really see much evidence of it!
Heathcliff
Banned at own request
It was a series of risks that didnt pay off taken a long time ago that took us to the wall blindfolded us and offered us a cigarette whilst the firing squad took aim. Sensible management not just for the playing staff but throughout the club and conducting itself according to what it can afford is the only way to steady the ship. If it means a couple of summers of no galacticos signings then thats fine as its not like weve been spoilt with smorgasbord after smorgasbord of signings year on year anyway.
If the club earned even half of what man utd do wed have had new owners by now - because our earning potential is limited the opportunity for investors to swoop and make a killing off the back of the club is rather unlikely.
One side of the arguement goes that we cant sell enough tickets to get bums on seats and increase revenues that way (limited stadium also means very few corporate facilities) we also have long term debts and own very little to show for it besides a going concern that is on the PL gravy train.
Spurs and West ham are not taking risks and both are on for brand new stadia - all singing all dancing pack them in and sell to the companies as well as. Were in Liverpool not London - ask Alexis Sanchez about his decision to sign for Arsenal.
The days of a Jack Walker type ploughing (tens then) hundreds of millions into a club and looking for very little in return are over. Its a fantasy to expect this type of fairytale. Besides spectacular player recruitment and sales as well as hoping the academy keeps laying golden eggs what other option is there for actual tangible progress.
Chang Elephant
Forum God
So which is abnormal ?
1) Our chairman
2) His statement that he has no idea what OOC's are - any possibility this may be misleading ?
3) Everton FC circumstances - what is so unusual about our other operating costs that our board cannot specify what they are ?
The Esk
Player Valuation: £70m
I think you are mis-understanding my comment. I was agreeing with you.
Chang Elephant
Forum God
I know you were mate, was just seeking to push on to look at why our chairman was out of step with normal expected business behaviours etc
The Esk
Player Valuation: £70m
I know you were mate, was just seeking to push on to look at why our chairman was out of step with normal expected business behaviours etc
Three comments (i) this should be in the Board thread (ii) time to look forward not backwards (iii) all directors of a company should be able to give a decent account of the company's financials.
bourneblue
Player Valuation: £10m
I dread to think where this club would be now if Paul Greggs plans for a reverse mortgage were implemented,the burden of debt would have seen us bankrupt.
Toffeelover
Player Valuation: £80m
Can anyone put up the a/cs for the last two years held giving Trading a/c, P&L a/c and Balance Sheet?
The Esk
Player Valuation: £70m
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