Staying in the Prem or Liquidation: Your view

[SussexToffee1980]

Better question, what would you do with your free time if Everton ceased to exist?

No phoenix club either

Something that I can actually enjoy, like go to tons of gigs, holidays with the other half and watch football I actually enjoy, as right now it's not much fun to watch even when its not Everton.

 

[Neiler]

Excuse my ignorance. But does liquidation mean no more Everton football club? Or does it mean points deduction and a fine? Leeds United in 2000’s or Bury fc.

It depends liquidation is the end of the company our company is the Everton football club company. If we went into liquidation Everton Football Club Company would be gone and couldn’t trade etc and likely leave behind a load of creditors. Liquidation generally happens after administration were a professional administrator is appointed to try and find a solution to a company that doesn’t have the revenue to pay its debts and contractual obligations.

An administrator has three options: restructure the business and reach an agreement with indebted creditors to mend the company’s reputation, pay the creditors by realising the company’s assets, or sell the business to new owners as a going concern to yield greater returns than if the company was liquidated.

So if an administrator liquidated the club Everton football club company would end. But in Rangers case they liquidated Rangers football club as a company. But started a new business called Sevco. So Rangers are essentially a new club.

That’s the financial leagal peice. From a sporting perspective I think there are rules and penalties for going into administration and liquidation.

In Rangers case with their liquidation they had to start again at the bottom of the footballing pyramid as a brand new club, a hairy process as others clubs got to vote to give them a licence and a share n the league.