Foot Long Hot Dog
Player Valuation: A packet of pork scratchings
This was historically not a very solvable problem as the fanbase was directly drawn from Liverpool and the surrounding areas. This is no longer true, however, thanks to television and internet. Everton's fanbase can grow into areas that do buy loads of merchandise - it may never help with attendance figures, but attendance income is becoming less and less important when compared to sponsorship, merchandising, and television incomes.
If the board were to focus heavily on growing the clubs overseas, in America, Asia, and Africa, then merchandising and sponsorship deals would begin to bring in far more income than we currently do. The failure on the part of the board to attempt to break into those markets beyond the superficial is a catastrophe that could haunt the club for a very long time if a few things don't go our way.
We are brilliantly poised for these sorts of inroads right now - if the results turn we'll find it much more difficult in the future, not to mention that America in particular is just waking up to the Premier League and hasn't picked its teams yet, if we wait a decade that may no longer be true - we simply must strike while the iron is hot.
The club needs to expand it's sponsorship portfolio on a Worldwide basis. The current team don't appear to have the ability to do so effectively, so why not look to outsource the entire function to a specialist organisation?