The Everton Board Thread 2015/16 [ Not takeover related ]

[evo1878]

So in layman's terms Philip Green has been profiting off Everton via dodgy loans to the club for many years.

Lovely.

In the traditional sense The loans aren't 'dodgy' mate. It's like borrowing off a wealthy mate than borrowing off the bank. The Interest rates as reported are broadly competitive. What isn't clear because its hidden in 'other operating costs' in the accounts is why we keep needing the loans in the first place.

 

[marty mcfly]

Starting to look a bit dire,transfer widows shutting all over.

It was done weeks ago. The moment we didn't get Shaqiri I knew we weren't serious. Yarmolenko was one of those bids where we knew the owner wouldn't sell and was only made because of the plane. After that we have been hoping on Januzaj or waiting for Lennon. I doubt we even had any targets beyond those two. If we had of sold Stones we would have bought Evans. I'm almost certain of that - Evans didn't move until we made the decision to keep Stones.

 

[davek]

Here's what I have to laugh at though: there's unanimity on the inaction of this board in the transfer market but many will turn on the manager if this season goes to a midtable finish again as he tries to plait sawdust.

Maybe remind yourselves of this if you feel the urge to point fingers in the coming season.

 

[Chang Elephant]

In the traditional sense The loans aren't 'dodgy' mate

They would be if the wealthy mate was a hidden part owner of the limited company taking the loans

 

[Saint Domingo]

If this is true (and that's a big if at the moment) - it is explosive stuff.

I think people will be shocked by it being brought to light but what did people think was happening? We've been paying interest on the Vibrac loans for ages as can be seen in the accounts and is something other teams have been doing as well. It now seems we've taken a loan from a company owned by Philip Green instead of Vibrac, Bill's borrowed from him before and he's got ties with most of the board. I resent the fact Green is making money off EFC but frankly I thought he has been for years. If you resent that we're paying interest on loans well that is the inevitable reality of EFC under this board. There's nothing criminal about it, what's sickening is that the millionaires on the board would rather pay their chum with the profits of the club than invest their own money. Only difference now is Green is getting it directly because he seems to have offered a better rate than Vibrac.

 

[tmgc]

I half expect Barrymore to turn up on Everton documents.

The club is a cesspit.

He might be down as a creditor if they build a new swimming pool.

 

[davek]

I think people will be shocked by it being brought to light but what did people think was happening? We've been paying interest on the Vibrac loans for ages as can be seen in the accounts and is something other teams have been doing as well. It now seems we've taken a loan from a company owned by Philip Green instead of Vibrac, Bill's borrowed from him before and he's got ties with most of the board. I resent the fact Green is making money off EFC but frankly I thought he has been for years. If you resent that we're paying interest on loans well that is the inevitable reality of EFC under this board. There's nothing criminal about it, what's sickening is that the millionaires on the board would rather pay their chum with the profits of the club than invest their own money. Only difference now is Green is getting it directly because he seems to have offered a better rate than Vibrac.

...which is why who owns BCR Sports has ALWAYS been the central issue of this connection. It wont be illegal unless that entity is more than just who Earl says it belongs to....which is why it;s the pressure point to press on and will continue to be.

 

[royalblue66]

Looks like Elstone has gone home. Should be sacked, pronto.

 

[marty mcfly]

Looks like Elstone has gone home. Should be sacked, pronto.

Seriously has someone saw him leave? We really aren't in for anyone. What a joke.

 

[royalblue66]

Seriously has someone saw him leave? We really aren't in for anyone. What a joke.

In darkness mate. Sorry.

 

[marty mcfly]

This sucks missing the fume on the transfer thread.

 

[evo1878]

They would be if the wealthy mate was a hidden part owner of the limited company taking the loans

I agree that the whole ownership and funding structure of Everton is secretive and unnecessarily complex so as to make it look like there is something wrong. To nail my colours to the mast I am anti-Board. But even if Green is a hidden owner which he may well be, it's ok for a shareholder / owner to lend the company money too.

 

[SerenityNigh]

At this point, the US may be won or lost with Roger Bennett. If the club aren't working with him expand the brand in the US, they're a lost cause.

I'll rep myself with this tweet from Jurgen linking a Wall Street Journal story praising the yeoman work of Rog Bennett

 

[magicjuan]

Who'd have thunk that Pip Green would be Everton's own Ragged Trousered Philanthropist?

Quelle surprise....

 

[Chang Elephant]

I agree that the whole ownership and funding structure of Everton is secretive and unnecessarily complex so as to make it look like there is something wrong. To nail my colours to the mast I am anti-Board. But even if Green is a hidden owner which he may well be, it's ok for a shareholder / owner to lend the company money too.

It's not OK if the shareholder/owner utilises his control of the limited company to direct that company to take loans specifically from another company that he owns and benefits from, to the detriment of fellow shareholders (as in whether the loans are necessary, whether the rate is decent) and uses his control of that company and knowledge of it's income streams to ensure that repayment of the loan is prioritised and cast iron guaranteed.

There will be a reason why ownership is hidden.