Financial Fair Play investigation

[Simon Buttle]

It’s a coincidence that another club that deals a lot with Kia Joorabchian, Reading, is also in hot water with financial irregularities. Probably nothing in it but it is a coincidence.

Every club he has been involved with has had some sort of financial issue/problem, I have been saying for ages he is bad news and we possibly should have done more to raise concerns about his involvement.

 

[Bkk Andy]

Well the financial year won’t end until the 31st of June mate but we can reasonably assume given 40 mill for Gordon and 24 mill for Kean, 64 mill hitting the books and a loss this year of Say 50 mill we are in profit.

Wouldn't the 50m loss include the Richarlison money which essentially cancels out the Gordon money?

 

[ForeverEverton]

Yeah and meanwhile Chelsea spend the same amount in 7 months than we get lambasted for spending in 7 years.

Financial Fair Play?

Don't make me laugh.

This is a common theme I keep seeing...

Everton Turnover is c£193m based on 2021 accounts, so to fall foul of FFP over 3 years we would need to have spent £684m plus....

Chelsea Turnover is £568.3m based on 2022 accounts, they can spend in excess of £1.8 Billion before they fall foul of FFP, their yearly turnover is nearly 3 times ours....

I hope this clarifies this for you.

The person (Yes one single person) to blame is Bill Kenwright, whilst Man Utd, Arsenal, Spurs and Liverpool (Who we formed the PL with) were taking advantage of the Premier League boom and setting structure to improve revenue we stood still and were being run like a club from the 80s..... we are so far behind we are never likely to catch the now big 6, ever!

Look at the Deloitte money league, look at how the big 6 revenue dwarves us and is nearly 3 times the size, even West ham, Leeds and Leicester getting above us with Newcastle on a course to overtake... Commercially we are catastrophic which has led us to the point we are now. Any new owners need to focus on balancing books and growth of revenue streams which hopefully the stadium will unlock.

 

[4737carlin]

It’s a coincidence that another club that deals a lot with Kia Joorabchian, Reading, is also in hot water with financial irregularities. Probably nothing in it but it is a coincidence.

You are wasting your time, ive name droped him dozens of times but nobody cares that Moshiri got him involved.... its all on Kenwright

 

[Kever10]

This is a common theme I keep seeing...

Everton Turnover is c£193m based on 2021 accounts, so to fall foul of FFP over 3 years we would need to have spent £684m plus....

Chelsea Turnover is £568.3m based on 2022 accounts, they can spend in excess of £1.8 Billion before they fall foul of FFP, their yearly turnover is nearly 3 times ours....

I hope this clarifies this for you.

The person (Yes one single person) to blame is Bill Kenwright, whilst Man Utd, Arsenal, Spurs and Liverpool (Who we formed the PL with) were taking advantage of the Premier League boom and setting structure to improve revenue we stood still and were being run like a club from the 80s..... we are so far behind we are never likely to catch the now big 6, ever!

Look at the Deloitte money league, look at how the big 6 revenue dwarves us and is nearly 3 times the size, even West ham, Leeds and Leicester getting above us with Newcastle on a course to overtake... Commercially we are catastrophic which has led us to the point we are now. Any new owners need to focus on balancing books and growth of revenue streams which hopefully the stadium will unlock.

View attachment 207435

Thats all wel in good, and i understand the difference in turnover.

But how exactly are supposed to achieve greater turnover without investment? Speculate to accumulate comes to mind.

The rules are totally unfair, regardless of zen you think you are being about it.

P. S. Before you say it, I understand we have still blown a large proportion of money. The fsct is though, that these rules arrived after a number of other teams did similar.

 

[catcherintherye]

But they have to be legitimate and based on fact not fabricated.
It would appear that someone has raised questions over the validity of the league’s original judgment of our case causing it to be referred to an independent body to be reviewed.
In most situations in which judgements are passed down there is recourse to having those adjudications reviewed and tested for veracity.
It’s a normal procedure which helps ensure that those tasked with making the decisions are acting in a fair and honest way and have correctly applied any rules and regulations.
If we have acted honestly and within the rules that we agreed to adhere to we have nothing to fear.
If it is found that we breached the rules and the league was unduly lenient in dealing with us we will be punished.
No conspiracy’s, no vendettas, just normal procedure.

But with respect you are arguing a separate point here.

The key point is, write downs are allowed.

Now the subsequent point you raise, about them justified is perfectly reasonable. All I can say, is last year, when presented with the write downs, and indeed the year before that, when presented with the write downs, the regulator determined not only that they were valid, but that they were wholly consistent with their processes.

So I have to take that as my starting point. I am not a legal or accounting expert, nor a regulator overseeing the rules, so I am not in any position to question that judgement, which was the club had fully complied with all rules as per the Regulator's expectations. That indicates strongly to me, the write downs were valid, or the only other conclusion I can draw is the regulator is inept, in which case they are in no position to be bringing punitive measures.

 

[catcherintherye]

Wouldn't the 50m loss include the Richarlison money which essentially cancels out the Gordon money?

We are projected to be in profit for that year.

 

[catcherintherye]

I'm not generally for these rules or controls in football but it's because of people like Moshiri that they're required. He's the big time equivalent of the type of people who destroyed Bury or Peter Ridsdale at Leeds.

Football clubs are institutions and sometimes need protecting from themselves.

But they haven't protected us. They welcomed him in. Turned a blind eye to spending, then buffeted his board by working with them and refusing to sanction them. They then contributed to worsening our financial situation, by forcing us to fire sale assets for below their market price, meaning we had less money than if they had not intervened.

At best you can say they have contributed to the perilous financial position. At worst you can say they have proactively engaged in making it worse.

Its hard to think of one thing along the way that they have done, to limit the role of Moshiri and his board.

 

[catcherintherye]

My fear is that the politics of the situation takes over. More especially national politics and the need for the game to send out a message to government that they dont require heavy regulation and that they can act decisively themselves.

The worry I have is the Tories are utterly useless, and incapable of scoring this own goal, which for any rational person would be to suspend the PLs license to govern, and immediately end all flawed investigations the corrupt organisation are undertaking on bizarre rules.

That's what a reasonable government does. They wont though, as they are cowardly scum.

 

[catcherintherye]

Up until the point the money runs out, yes. Then you're screwed. We'd be another Portsmouth or Leeds. If Moshiri just carried on running mad losses we'd be in genuine danger of going under.

We'd be up to our necks in debt right now if not for these rules (because of Moshiri's incompetence) and could probably forget the new stadium now the money has run out. Moshiri has been begging for investors for the last year. Everton are a textbook case of why the rules were brought in and why a majority of PL clubs voted for them to come in.

It'll do us a favour in the long run once we're settled on BMD and breaking even. The problem is going to be paying for the stadium to be completed.

The club has quite low debt.

 

[MIKE85]

How is putting sanctions on clubs, and forcing them to sell assets under their market value helping prevent teams go under? I would say that puts us in a worse financial situation.

I like your Trumpian style way to debate things. It takes some kind of a person to master the art of mudding the water without adding anything with a value

 

[catcherintherye]

I like your Trumpian style way to debate things. It takes some kind of a person to master the art of mudding the water without adding anything with a value

I'm trying to clear the water mate.

If I'm wrong, I'm happy to debate the point, and try to do so in a measured and civil way (unlike Trump).

If I'm wrong that the PL allowing Moshiri to pass a fit and persons test and pressuring the club to sell assets at a lower value then we could have achieved, please do explain how they helped the club? (Or indeed on the other points I've raised).

I appreciate you may disagree, it's a forum, there will be a range of views, and I'm open to hearing an alternative interpretation if you have one to offer.

 

[Rollo Tomassi]

This is a common theme I keep seeing...

Everton Turnover is c£193m based on 2021 accounts, so to fall foul of FFP over 3 years we would need to have spent £684m plus....

Chelsea Turnover is £568.3m based on 2022 accounts, they can spend in excess of £1.8 Billion before they fall foul of FFP, their yearly turnover is nearly 3 times ours....

I hope this clarifies this for you.

The person (Yes one single person) to blame is Bill Kenwright, whilst Man Utd, Arsenal, Spurs and Liverpool (Who we formed the PL with) were taking advantage of the Premier League boom and setting structure to improve revenue we stood still and were being run like a club from the 80s..... we are so far behind we are never likely to catch the now big 6, ever!

Look at the Deloitte money league, look at how the big 6 revenue dwarves us and is nearly 3 times the size, even West ham, Leeds and Leicester getting above us with Newcastle on a course to overtake... Commercially we are catastrophic which has led us to the point we are now. Any new owners need to focus on balancing books and growth of revenue streams which hopefully the stadium will unlock.

View attachment 207435

I don't need clarification i know that Chelsea have a higher turnover and can spend more but their turnover will take a dip if they don't qualify for the Champions League so lets see if that makes a difference to their spending this summer, however I suspect it won't. The point I am making is the disparity in the media reporting of both clubs and how both them and us are dealing with the issue of FFP.

We get laughed at sneered at and hauled over the coals for spending the same amount as them in several years that they have done in 2 windows and the media have hardly said a peep. They have previous for breaking the rules and have done so again but have got round it due to a loophole which has seen them sign players on 8 year contracts for gods sake. They are openly laughing at the premier league and taking the mick whilst we are cooperating with the league over our dealings.

So once again how is that financial fair play?

 

[catcherintherye]

Everything you need is here about the club's financial position. No journos twisting the facts but the club's own official reports.

Statement Of Accounts

Everton Football Club

www.evertonfc.com

Every single set of accounts on that list passed P&S rules.

That's not my opinion, that is the view of the regulator encharged with scrutinizing them.

The position may be objectively poor (and I have argued for some time it is) but no rules were broken. It honestly doesnt say a lot for the rules, or the regulator.

 

[Izzy1878]

We'll get done over before City and this is why I hate footy. From top to bottom it's gone to the dogs.