Everton FC - Finances

[Heathcliff]

I'm an educated man, with a good grasp on the understandings of the synergies between economics and football - this thread however has left me baffled. Loads of good posts with great content but still left wondering what the hell is going on with our club and money.

Its going to the players and there agents. Do you think Mirallas and McCarthy recently signed up on less money than they were on? Reckon Lukaku signed over to us on not similar money than is spunked hourly at Chelsea. The PL gravy train rumbles on - theres no money made for the owners unless the club generates the kind of sums Man Utd do. Maybe Arsenal. We are neither.

 

[Bluesnapper]

Everton don't show enough capital on the books and a quick glance at recent reports make me question whether Everton Football Club are a going concern

There you go @ijjysmith

Which is why nobody will by the club for £150 million plus.

The club is badly run.

 

[Steve Wigan]

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.

It would never have happened. The myth that has been perpetuated about the Kings Dock money is a result of Bills enthusiastic bad choice of words, and the word ringfenced will be haunting him if he ever reads any of the guff about himself on the internet forums. I have news for some people..Bill was not carrying the Everton share of the Kings Dock money around in his back pocket waiting to hand it over...by 'ringfenced' he meant , but put it very badly...forever trying to sell the idea....that the banks /financial institutions had told him that the money would be available subject to the terms from Gregg being acceptable to them. Plainly Greggs terms were not acceptable to the banks so Everton did not get their money/loan. If anyone really thinks that Everton had that amount of money just sitting there waiting to be used, they need to have a good look at themselves.

 

[Chang Elephant]

It would never have happened. The myth that has been perpetuated about the Kings Dock money is a result of Bills enthusiastic bad choice of words, and the word ringfenced will be haunting him if he ever reads any of the guff about himself on the internet forums. I have news for some people..Bill was not carrying the Everton share of the Kings Dock money around in his back pocket waiting to hand it over...by 'ringfenced' he meant , but put it very badly...forever trying to sell the idea....that the banks /financial institutions had told him that the money would be available subject to the terms from Gregg being acceptable to them. Plainly Greggs terms were not acceptable to the banks so Everton did not get their money/loan. If anyone really thinks that Everton had that amount of money just sitting there waiting to be used, they need to have a good look at themselves.

Great post Steve, You've met Bill once at a theatre and asked him if his play would "make London". How have you come about the information that Kings Dock was never to be funded by the club, just by Gregg ?

 

[Bluesnapper]

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.

It would never have happened. The myth that has been perpetuated about the Kings Dock money is a result of Bills enthusiastic bad choice of words, and the word ringfenced will be haunting him if he ever reads any of the guff about himself on the internet forums. I have news for some people..Bill was not carrying the Everton share of the Kings Dock money around in his back pocket waiting to hand it over...by 'ringfenced' he meant , but put it very badly...forever trying to sell the idea....that the banks /financial institutions had told him that the money would be available subject to the terms from Gregg being acceptable to them. Plainly Greggs terms were not acceptable to the banks so Everton did not get their money/loan. If anyone really thinks that Everton had that amount of money just sitting there waiting to be used, they need to have a good look at themselves.

Aaww come on you two Bill wont allow his disciples to split ranks, play nicely now.

 

[Steve Wigan]

Great post Steve, You've met Bill once at a theatre and asked him if his play would "make London". How have you come about the information that Kings Dock was never to be funded by the club, just by Gregg ?

Were did I say it was just to be funded by Gregg? Everton had approached the banks/financial institutions and had been assured that the money would be available subject the approval of Greggs terms offered to Everton. Bills enthusiasm translated this into 'the money is ringfenced'. The banks didn't approve of the terms and so wouldn't give Everton/Bill the money. Thats what I said above so I don't know were you got the idea that I said Gregg was funding the project alone. Even Greggs money was borrowed..he didn't have the kind of capital to pay for a project that size from his own resources. He had made his 'fortune' by refurbishing old and delapidated theatres and making them profitable largely on the back of Bills budget versions of West End hit shows. That is public knowledge,at least in the theatre business, and that is why they were 'friends' or 'business buddies' It was Bill, the Dream Maker, who sold the idea of the KD to Gregg, in the same way that he sold the idea of DK to Earl a few years later.

 

[zirc]

I didn't pick Newcastle due to the stadium. They have one fit for purpose. But yeah everything else.

It's also a one-club city. They don't run the risk of losing an entire generation of young fans to a local rival.

 

[Bluesnapper]

It's also a one-club city. They don't run the risk of losing an entire generation of young fans to a local rival.

So logically you would expect those clubs in a two-team city to try that much harder.

 

[zirc]

So logically you would expect those clubs in a two-team city to try that much harder.

yes, you would expect that, wouldn't you?

 

[Chang Elephant]

Were did I say it was just to be funded by Gregg?

Everton had approached the banks/financial institutions and had been assured that the money would be available subject the approval of Greggs terms offered to Everton

What was Gregg offering terms to Everton about, if this was to be financed by the club ? If the money was available to the club via the banks/financial institutions why did Everton need terms with Gregg ?

Both rhetorical questions given no indication you have inside information as to how the KD was to be financed

 

[Steve Wigan]

What was Gregg offering terms to Everton about, if this was to be financed by the club ? If the money was available to the club via the banks/financial institutions why did Everton need terms with Gregg ?

Both rhetorical questions given no indication you have inside information as to how the KD was to be financed

Didn't Gregg offer a reverse mortgage to Everton ? I have never said I have inside information. Its all in the public domain.-

 

[MrGrumpy]

The only way Everton can increase their revenue is to sell more merchandise to the supporters, and to do that they need to increase their fan base. Also helps to have all shirts in stock all the time

 

[hallamblue]

Didn't Gregg offer a reverse mortgage to Everton ? I have never said I have inside information. Its all in the public domain.-

Gregg sold Apollo Leisure to the Americans for £130 million, so he had the money. He never had any interest in football, but he does like making money, so he offered to lend the money to the club. However, it's all smoke and mirrors, as Liverpool City Council had no intention of letting Everton have the Kings Dock site. And considering how well the arena and conference centre have done it has worked much better for the city this way.

Meanwhile, Everton need a new Managing Director, a new Commercial Director, and a new Director of Communications. They would be much better spending millions on these 3 positions than on buying a new player or two.

 

[Steve Wigan]

Gregg sold Apollo Leisure to the Americans for £130 million, so he had the money. He never had any interest in football, but he does like making money, so he offered to lend the money to the club. However, it's all smoke and mirrors, as Liverpool City Council had no intention of letting Everton have the Kings Dock site. And considering how well the arena and conference centre have done it has worked much better for the city this way.

Meanwhile, Everton need a new Managing Director, a new Commercial Director, and a new Director of Communications. They would be much better spending millions on these 3 positions than on buying a new player or two.

TRue, and a large part of the success of Greggs company , enabling Gregg to sell to the Americans, was down to Bill Kenwrights highly successful budget shows which put bums on seats and kept Greggs refurbished old theatres open. Gregg owed Bill a lot. As a top executive of One Nation said to me once . Bill Kenwright is the toughest negotiator you'lll ever meet...but he almost single handed kept provincial theatre in this country alive.'

 

[mightymoyes]

The only way Everton can increase their revenue is to sell more merchandise to the supporters, and to do that they need to increase their fan base. Also helps to have all shirts in stock all the time

wouldnt matter if they sold a million shirts due to the kitbag deal i think.