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

[edge]

I wouldn't say they're revelations, the info has been available before and published in dribs and drabs. They do underline though that right from the very off 15 years ago Kenwright and his cohorts were determined to sweat Everton itself in order to create the continuing conditions for their own ownership to remain in place.

They've been spinning plates whilst periodically trying to cajole the public and private sector to fund a stadium for them. That's the old strategy, btw. They dont need that so much now because they can hang on for a while longer given that the massive tv deal is in place and getting bigger each renewal. It'll allow the conditions (they hope) to finally unearth new owners prepared to meet their astronomical valuation (relative to their investment - which is zero). All they require is a team that stays reasonably safe in the table each season.

We're basically in a secular version of purgatory. Neither damned nor in a place we want to be. For the foreseeable.

good on the lad, interesting reading at least should get @the esk , @Steve Wigan to run there eyes over it and give a review on here in the interest of balance.
bet the club try to shut him down sharpish,

 

[The Esk]

good on the lad, interesting reading at least should get @the esk , @Steve Wigan to run there eyes over it and give a review on here in the interest of balance.
bet the club try to shut him down sharpish,

As has been said all this information has been in the public domain since the charges/mortgages were granted.

The conditions do not appear to be too unusual given the nature of the lending, the quality of the assets and the perilous state of Everton financially at the time.

The documents serve the point that the club has been enormously under capitalised since the current incumbents took control and despite record revenues now, still desperately need capital, no longer to survive (as was the case in the 2000's and early this decade) but to compete.

 

[Azza]

Praise to Vibrac for saving Everton.


lollollol

 

[Gwladys St. Glory]

I'd throw out "tipping point" but I've seen this all before...maybe enough have got the stomach for it now, we'll see.

 

[gaino92]

Do we actually have any assets that we own outright?

 

[edge]

As has been said all this information has been in the public domain since the charges/mortgages were granted.

The conditions do not appear to be too unusual given the nature of the lending, the quality of the assets and the perilous state of Everton financially at the time.

The documents serve the point that the club has been enormously under capitalised since the current incumbents took control and despite record revenues now, still desperately need capital, no longer to survive (as was the case in the 2000's and early this decade) but to compete.

I was hoping you could give it in lay mans terms to the posters on here who might be new to it or don't do twitter.
I know its old news to yourself and others on here but it seems shocking news to a lot of posters on here.
It might give them a better understanding of what you have been saying very successfully on the radio of late.

 

[davek]

good on the lad, interesting reading at least should get @the esk , @Steve Wigan to run there eyes over it and give a review on here in the interest of balance.
bet the club try to shut him down sharpish,

Defo. All power to him. The more people who know about the parasitism going on at this club the better.

 

[The Esk]

I was hoping you could give it in lay mans terms to the posters on here who might be new to it or don't do twitter.
I know its old news to yourself and others on here but it seems shocking news to a lot of posters on here.
It might give them a better understanding of what you have been saying very successfully on the radio of late.

Fair enough. ...

In simple terms we have had to mortgage everything, the stadium, other properties, training ground, and future income to survive. In addition we had for a period to buy players effectively using HP. (Early 2000's until early this decade)

In the meantime we have sold many assets and outsourced all commercial activites

Slightly different now, we still have 1 long term loan and a shorter annual loan which are repayable from the increase in revenues from future broadcasting deals/season ticket revenues.

However we have no spare capital and our income is growing at a slower rate than our competitors so we are effectively going backwards.

I have written an article which @GrandOldTeam will publish later today which covers the need for capital.

 

[gaino92]

Fair enough. ...

In simple terms we have had to mortgage everything, the stadium, other properties, training ground, and future income to survive. In addition we had for a period to buy players using effectively HP. (Early 2000's until early this decade)

Slightly different now, we still have 1 long term loan and a shorter annual loan which are repayable from the increase in revenues from future broadcasting deals/season ticket revenues.

However we have no spare capital and our income is growing at a slower rate than our competitors so we are effectively going backwards.

I have written an article which @GrandOldTeam will publish later today which covers the need for capital.

Thanks, makes things a little easier to understand

 

[edge]

f

Fair enough. ...

In simple terms we have had to mortgage everything, the stadium, other properties, training ground, and future income to survive. In addition we had for a period to buy players using effectively HP.

Slightly different now, we still have 1 long term loan and a shorter annual loan which are repayable from the increase in revenues from future broadcasting deals.

However we have no spare capital and our income is growing at a slower rate than our competitors so we are effectively going backwards.

I have written an article which @GrandOldTeam will publish later today which covers the need for capital.

thanks mate sorry to put work onto you, just puts it into a nutshell for people.
will read the article with interest and a nice cuppa later.

 

[Tchnique]

Fair enough. ...

In simple terms we have had to mortgage everything, the stadium, other properties, training ground, and future income to survive. In addition we had for a period to buy players using effectively HP. (Early 2000's until early this decade)

In the meantime we have sold many assets and outsourced all commercial activites

Slightly different now, we still have 1 long term loan and a shorter annual loan which are repayable from the increase in revenues from future broadcasting deals/season ticket revenues.

However we have no spare capital and our income is growing at a slower rate than our competitors so we are effectively going backwards.

I have written an article which @GrandOldTeam will publish later today which covers the need for capital.

Thanks for all this info Esk.

As a Toffee in the States I wouldn't know a ton about the board/ownership.

Thanks to all the posters who've done their homework on this. In the states, ownership finances are relatively secretive and you only hear about a sports franchise finances when they're in real dire straits.

 

[Dithering Dougie]

@the esk do you know how many, if any, of these multiple loans have been paid up in full now?

 

[jazzy]

Fair enough. ...

In simple terms we have had to mortgage everything, the stadium, other properties, training ground, and future income to survive. In addition we had for a period to buy players using effectively HP. (Early 2000's until early this decade)

In the meantime we have sold many assets and outsourced all commercial activites

Slightly different now, we still have 1 long term loan and a shorter annual loan which are repayable from the increase in revenues from future broadcasting deals/season ticket revenues.

However we have no spare capital and our income is growing at a slower rate than our competitors so we are effectively going backwards.

I have written an article which @GrandOldTeam will publish later today which covers the need for capital.

Paul thanks for information and insight.

I thought you spoke well on this subject when I heard you on the radio.

However whilst you have highlighted all our problems and stressed the need for change I would be very interested to see your views on how change can be effected or perhaps better ( though more bluntly ) put how the board can be forced to sell.

As far as I can see in reality there is precious little pressure that can be brought to bear upon the individuals to force their hands .

A mass boycott ? Highly unlikely to happen.

sadly I cannot see anything altering the status quo.

 

[Pienaar's gloves]

Does anyone know if we are still involved with Vibrac? I read about their meddling at Reading when they were unable to meet an interest payment.

 

[The Esk]

@the esk do you know how many, if any, of these multiple loans have been paid up in full now?

According to the accounts (from memory I do not have them in front of me) we have the 25 year loan signed in 2003 - approx 19m outstanding, last year's Vibrac which was settled in summer 2014 but a new one taken out in September - unknown outstanding until this year's accounts, small overdraft with Barclays (from memory) about £4 m which should have been repaid now.