Financial Fair Play investigation

[Eggsyblueskin]

I'd like to agree, but with football finance regulations, it's as much about expedience as fact. It was a fact - clear to the dogs on the street - that the Saudi Arabian dictatorship was buying Newcastle United. But Boris Johnson himself was keen to push that deal for his own nefarious reasons, so human rights abusers were allowed to take over that club despite the "facts".

If it is convenient to the powers-that-be to scapegoat Everton, that will be done. In all of this, I have learned to separate fairness and fact on one side from expedience and politics on the other. Have we broken the FFP rules? I suspect we are certainly in very choppy waters with our accounting. But the question then is: are these rules fair, justified, and transparent, or are they imposed on clubs like us for mendacious reasons while the British government itself welcomes a takeover by Mohammed Bin Salman? Is the "crime" that these FFP rules are ostensibly designed to prevent more heinous than six of our clubs, essentially, conspiring to destroy the Premier League and open competition?

So, whatever about our, no doubt, tremendously creative accounting, I smell an expedient, mendacious sham. Our board is incompetent and nefarious, but I will not throw stones as an Evertonian outside this kangaroo court.

Whatever judgement is reached the details will be published and the reasons for the judgement will be open to examination and any possible challenge.

 

[davek]

The club have attempted to stifle this fella from telling the truth and some people seem to want to back them for it. You're essentially shooting the messenger. It's no journalist's or any other commentator's fault that the club is a complete basketcase. It's there for all to see. A carcrash set of accounts, Still no AGMs, No board members attending FAB meeting, FFP, independent commisions.... and 20+ years of form of this chairman. The club is hanging by a thread and some people are more concerned about people mentioning it.

Stifle his views because that's all they are? In any case, they have no ability to stifle them that I'm aware of.

I think he should be stifled though, because this now looks personal and he's clearly lost the plot on what his role is in all this...if, in fact, he has any role at all to play.

You also need to separate the wheat from the chaff here. I think we're all in agreement that the board of Everton and its owner are abhorent and need to get out ASAP. But there's an order that has to take place in for the best interests of this club, and aiding and abetting a media pile on designed to eliminate us from the PL does some people no credit whatsoever.

 

[davek]

Everton will be judged on the facts as they exist and not on the opinions of observers aired on here or anywhere else.
As you well know.

That's just as well, because there's no one outside of the club and the PL executive who are anywhere near being fully aware of the 'facts'.

Perhaps people should remember that when they lionise some nobhead with a PhD and a podcast seeking attention...

 

[Drico]

Whatever judgement is reached the details will be published and the reasons for the judgement will be open to examination and any possible challenge.

Indeed. But the context of the rules that we are alleged to have broken must also be questioned. What and who are they designed to protect - and from what? Are they being fairly and transparently applied? Or is all of this just expedient window-dressing?

I'm not here to defend our incompetent, mendacious, shambolic board. But I won't do the bidding of the enemies of the game, either: human rights abusers, bent politicians, and those who want a closed-shop "super league" because they spent sums of money in quantities that would make even Moshiri's eyes water.

I mean, the idea that we can be pilloried for buying too many Alex Iwobis is hilarious when Barcelona have sold off their entire future, have allegedly bought referees, and have conspired to destroy the open nature of the football pyramid by creating a closed shop league by invitation only simply because they have fantastically mismanaged their finances is utterly farcical and deeply hilarious.

We're being done for stealing a loaf of bread by people who ran the flour mill into the ground.

 

[Goat]

That's just as well, because there's no one outside of the club and the PL executive who are anywhere near being fully aware of the 'facts'.

Perhaps people should remember that when they lionise some nobhead with a PhD and a podcast seeking attention...

Yes Dave, we should ignore experts and listen to you.

xD

 

[davek]

Yes Dave, we should ignore experts and listen to you.

xD

Why are they experts? If they possess all the information to pass judgement then that would make them experts. They dont.

I'm not overly impressed by a bean counter who's clearly more motivated in boosting his media profile and probably his income than getting at any 'truth'.

 

[Goat]

Why are they experts? If they possess all the information to pass judgement then that would make them experts. They dont.

I'm not overly impressed by a bean counter who's clearly more motivated in boosting his media profile and probably his income than getting at any 'truth'.

He knows vastly more than you and me.

 

[kenada_blue]

Personally believe anyone and everyone outside the club rather than anyone in it since headlock gate.

 

[Tom Hughes]

Stifle his views because that's all they are? In any case, they have no ability to stifle them that I'm aware of.

I think he should be stifled though, because this now looks personal and he's clearly lost the plot on what his role is in all this...if, in fact, he has any role at all to play.

You also need to separate the wheat from the chaff here. I think we're all in agreement that the board of Everton and its owner are abhorent and need to get out ASAP. But there's an order that has to take place in for the best interests of this club, and aiding and abetting a media pile on designed to eliminate us from the PL does some people no credit whatsoever.

The club has tried to control and manipulate the narrative for years. This is all happening against a backdrop of cancelled AGMs, refusal to attend FAB meetings or Shareholder association quarterlies of any board members.... because they knew this was all coming. They phoned him up at midnight to complain. 3 auditors in 4 years tells the story and reference to our future status as a "going concern" is shocking.... These are the real issues! Not whether or not ANYONE has a right to question the club.... let's face it, they're all lining up for a reason. The level of incompetence and failure has come to a head and we've made ourselves a sitting target. That's the club's fault, no-one else's!

 

[davek]

He knows vastly more than you and me.

...so what? This isn't about accountancy skills, it's about exercising good judgment...and he's shown none of that.

 

[HalfTimeSayers]

Any expert would know that outgoing auditors have specific legal requirements relating to the cessation of their office. Different requirements for public interest/non-public interest companies but simplest explanation is that they must makes members and creditors aware of any reasons for the cessation that should reasonably be brought to their attention. Failure to comply with these responsibilities is an OFFENCE.

You can’t just shop around for auditors until you find one willing to accept your shady accounting treatments. All firms in that chain of events would suffer the consequences, the exiting firm for not notifying, and/or the audit firm found to have turned a blind eye.

100% things look to be a mess, the fact that we never hear anything from Ingles I’ve always found a little off given it’s his area being investigated, and the auditor thing does sound abnormal, but it’s all about context. Framing the change of auditors slap bang in the middle of an article about the club being a financial mess and guaranteed to be burned to the ground with sanctions gives it a very specific context. That’s what winds people up, not the experts right to quote facts.

 

[davek]

The club has tried to control and manipulate the narrative for years. This is all happening against a backdrop of cancelled AGMs, refusal to attend FAB meetings or Shareholder association quarterlies of any board members.... because they knew this was all coming. They phoned him up at midnight to complain. 3 auditors in 4 years tells the story and reference to our future status as a "going concern" is shocking.... These are the real issues! Not whether or not ANYONE has a right to question the club.... let's face it, they're all lining up for a reason. The level of incompetence and failure has come to a head and we've made ourselves a sitting target. That's the club's fault, no-one else's!

As I've said - you'll get very little argument from the vast majority of supporters of this club that we have an inept board and owner who need to be swept out.

99.9% are singing from the same hymn sheet on that.

That's not the case when it comes to this issue of Everton being referred to the PL commission. Whether there's a major case that requires severe punishment is unproven. No one can determine that because only a few people are in full possession of the facts and the specific reason behind Everton's referral, so any outside analysis is guesswork - whether its from 'experts' or laymen. The running of the club is incidental to all that. Most clubs in the PL are misgoverned. The big question here is whether Everton's governance was so out of whack that its contravened any advice handed to them by the PL over the last year. Because that, presumambly, is why we are where we are. That'll be for an independent commission to determine.

Boardoom critics amongst the fan base on social media are running the risk of being judged on the wrong side of history over their interventions concerning this referral, and they do that because they've muddied the waters.

 

[Moderatelywarmwater]

There’s a whole load of stupidity in this thread.
People aren’t attacking Everton the football club, the institution…
They are attacking the people who risk destroying the club, the great institution of workd football.
If people can’t see that, they aren’t worth reading a word of.

 

[Blue peter]

The club have attempted to stifle this fella from telling the truth and some people seem to want to back them for it. You're essentially shooting the messenger. It's no journalist's or any other commentator's fault that the club is a complete basketcase. It's there for all to see. A carcrash set of accounts, Still no AGMs, No board members attending FAB meeting, FFP, independent commisions.... and 20+ years of form of this chairman. The club is hanging by a thread and some people are more concerned about people mentioning it.

I don’t have an issue with someone with no connection to the club articulating a position as an observer, he is a footballing finance ‘expert’ after all, if so they seek a rise in their stock off the back of our poor financial management so be it. They are footballing industry commentators. Regardless of where their allegiances may or may not lie, the club should not put itself in a position to be shot at.

I do however have an issue with so called evertonians drawing attention to it…..we all know it’s been a sh1t show so what is the objective beyond stating the obvious and illustrating with hypothetical numbers (because we don’t currently know what the exact allegations are) other than to draw a wider audience and build an audience base?

It certainly can’t be in the club‘s interest to keep pushing the same narrative. It’s those people whose motives I question who profess to love the club. Let due process unfold….the club is big enough to defend itself without self indulgent fans pouring fuel to the flames.

 

[davek]

Any expert would know that outgoing auditors have specific legal requirements relating to the cessation of their office. Different requirements for public interest/non-public interest companies but simplest explanation is that they must makes members and creditors aware of any reasons for the cessation that should reasonably be brought to their attention. Failure to comply with these responsibilities is an OFFENCE.

You can’t just shop around for auditors until you find one willing to accept your shady accounting treatments. All firms in that chain of events would suffer the consequences, the exiting firm for not notifying, and/or the audit firm found to have turned a blind eye.

100% things look to be a mess, the fact that we never hear anything from Ingles I’ve always found a little off given it’s his area being investigated, and the auditor thing does sound abnormal, but it’s all about context. Framing the change of auditors slap bang in the middle of an article about the club being a financial mess and guaranteed to be burned to the ground with sanctions gives it a very specific context. That’s what winds people up, not the experts right to quote facts.

100% this.