Keith Wyness!!!

BigBurger · August 18, 2009

Basil Fawlty said:
But if the debts were to be sold, according to Wyness, then Kenwright would have to take on Greens loan repayments personally, as green won't let it be a part of any sale

And so thats why it cannot be sold. Two things though...Firstly that sounds illegal. Secondly if its not and this has to happen the only way around that I would think is someone literally giving Kenwright cash to pay off these loans. Either that or BK will just have to come up with the money himself (not likely).

Mutzo Nutzo · August 18, 2009

Bruce Wayne said:
What exactly does that article prove? They imply that the company Earl used to buy his stake in the club has Green behind it somehow, yet havn't even bothered to explore that any futher. It's hardly going to win the Pulitzer is it?

If we're dealing in purely facts and what we know, the we do know that BCR Sports own 23% of Everton FC, basically Greggs original holding.

BCR Sports is a private investment vehicle (Think Private Equity Company) fronted by Robert Earl...Now within the financial legal world, A Private Scheme and its holdings/financial backers does not have to be publically quotable, as in its nature it is "private" so it may well be the case that Green sits behind this fence as a private investor in Everton, but does not have to quote his ownership/shares holding for the sake of financial reporting.

Again its common practice to do this within Private Equity held companies

Bruce Wayne · August 18, 2009

BigBurger said:
I have not read the AR so this is purely a guess but...

If he is simply lending the cash with no returns besides the interest being paid by BK and co then its not ownership. However if the owners fail in their repayments ownership is transferred to Green depending on how much coin hes lended to Everton and BK in particular. Much like owning a house I would have thought? I can see how Wyness came to this conclusion as the financial pressures being faced by the club would mean this is always hanging over their heads. That said if this is the case then he is wrong in his statement that Everton can't be sold but with that large debt it doesn't make for an attractive proposition. Also through creative accounting and whatnot it is easy to show that the business is in a better position than it actually is.

Sure, that is certainly a possibility but a bugger to prove isn't it? There's a distinct danger of 2+2=5 here because people are assuming a truth based upon their predisposition towards the board. Those that don't like BK et al assume Green has his hand up their toosh, whereas those that are ok with the board don't. Neither has any evidence to support their point of view so it seems a pretty futile debate.

Whitebootman · August 18, 2009

Bruce Wayne said:
Ah ok, so because its not written down we have cart blanche to make up all manner of outlandish rumours.

I think BK is being backed by Lord Lucan myself.