The Everton Board Thread (Inc. Bill Kenwright / Blue Union)

[kenada_blue]

Phils summed it up well and also silenced a few about moyes leaving.

Moyes knows the score, has done for years and hes accepted it...his hands are tied. He wont leave cos nothings suprising him.

But the fact remains...everton need moyes more than he needs us. But which club is bigger than us that would take him? Thats not the point, point is your blackburns, sunderlands etc would take him in a heartbeat...and they wont give him financial constraints everton do.

And with that, for all his tactical downfalls, it would be hard for anyone to replace moyes with our current board and expect us to stay in the prem.

Board needs to but ousted.

Might be a stab in the dark, but tesco terry would smash this current board out and put us on the right track. Shame hes not interested

 

[davek]

Phils summed it up well and also silenced a few about moyes leaving.

Moyes knows the score, has done for years and hes accepted it...his hands are tied. He wont leave cos nothings suprising him.

But the fact remains...everton need moyes more than he needs us. But which club is bigger than us that would take him? Thats not the point, point is your blackburns, sunderlands etc would take him in a heartbeat...and they wont give him financial constraints everton do.

And with that, for all his tactical downfalls, it would be hard for anyone to replace moyes with our current board and expect us to stay in the prem.

Board needs to but ousted.

Might be a stab in the dark, but tesco terry would smash this current board out and put us on the right track. Shame hes not interested

Everton's boardroom 'advisor'? That ball bag was just in it for a MegaTescopolisBowl. He wont be heard of again.

 

[kenada_blue]

Everton's boardroom 'advisor'? That ball bag was just in it for a MegaTescopolisBowl. He wont be heard of again.

Haha well hes not with tescos anymore and her got more money and contacts than kenwrong will ever have.

Hes probably a better version of kenwrong...and would pump money into the club or get the ****ehawkes to so he could have a successful business.

Thats my opinion anyway, hypothetically and it wont happen

 

[BiggyRat]

I worked for Ansett Australia (airline in Oz) for over 17 years & this has all the hallmarks of Ansett.

After a second hostile takeover of the company was successful, NewsCorp & TNT each owned 50% (Murdoch & Abeles). Abeles was the front man & showed all the passion for the airline. Murdoch sat quietly in the background.

Without going into too much detail, the similarities were that Murdoch bought in because Ansett had a major shareholding in one of the local TV networks. That went to NewsCorp. We also saw a surge in new aircraft that came in on Leases, whereas we had previously bought & owned all our aircraft. Ansett had a diverse portfolio of companies for reasons I won't bore you with but, suffice to say, they were all divvied up between News & TNT in some shape or form. We also sold property & leased it back...sound familiar?

In the end, after 66 years, the company went belly up. There was little to salvage as all our assets reverted to the lessors. It's coming up to 10 years this year since Ansett collapsed & a lot of what is being described here bears alarming similarity with Ansett.

I apologise for rambling on but, I always fear silent partners, and so should the Everton fathful!

 

[The Esk]

Agree with that. Kenwright really isn't the fundamental problem, the people he handcuffed the club to are. They're sitting in their luxurious dens barely conscious of the frustration.

As far as new owners looking at coming in and wondering if it's worth the effort if the exisiting board cant be arsed investing: I reckon they'd realise that Earl/Green came in looking for the stadium gravy train and a quick sell off, and that they now just see it as a safe place to park a few million quid in shares...not something they take seriously as a business venture. People with energy and vision and a feel for football would see the value of investing in Everton. The big stumbling block will be what price is being asked per share. That's why Kenwright wont go to an industry specialist and formally hire them to explore a sale: it'd nmean hammering out a clear costing of what the owners are willing to sell for - a damn sight more than the £1000 per share or so they paid I'd wager, and supporters would be ouitraged at the mark up in profit they'd be looking for. Kenwright and the others just want to keep it in house and hope that a buyer falls into their lap - nice and cosy. They'll never seek to professionalise the approach to selling the club and even the Echo are critical of that!

I don't think the issue is that they are worried about the potential profit with a professional seller on board, it is the exact opposite.

Without saying too much part of what I do for a living is valuing unquoted companies - the problem for the current shareholders is that a professional advisor could never justify the price the sellers want for their shares. With the limited financial information available there's no way the cluv is worth what is being asked by the Board. I don't know what the arrangements are between Green and Kenwright and any of the other major shareholders but I doubt Kenwright will sell at the valuation a realistic buyer would offer.

 

[davek]

I don't think the issue is that they are worried about the potential profit with a professional seller on board, it is the exact opposite.

Without saying too much part of what I do for a living is valuing unquoted companies - the problem for the current shareholders is that a professional advisor could never justify the price the sellers want for their shares. With the limited financial information available there's no way the cluv is worth what is being asked by the Board. I don't know what the arrangements are between Green and Kenwright and any of the other major shareholders but I doubt Kenwright will sell at the valuation a realistic buyer would offer.

We have no idea what that figure is, suffice to say it'll be in excess of the price they paid for the shares in 1999 - club valuation then = £30M. Even accounting for debts they're going to want multiples of that figure. My point is that we dont know the scale of the task in selling this club. What are incoming people faced with stumping up on top of getting loaded with tens of millions in debt?

 

[The Esk]

We have no idea what that figure is, suffice to say it'll be in excess of the price they paid for the shares in 1999 - club valuation then = £30M. Even accounting for debts they're going to want multiples of that figure. My point is that we dont know the scale of the task in selling this club. What are incoming people faced with stumping up on top of getting loaded with tens of millions in debt?

I agree, and that's why the club is unlikely to be sold, nor is new investment going to come in anytime soon - just as we have all been saying for years...........

 

[Robert Jarvis]

The national media begining to comment on this mess we have now:

http://www.bbc.co.uk/blogs/philmcnulty/2011/02/what_next_for_moyes_everton.html

Good article, reasoned and balanced.

As to the value of the club surely it is less than what Johnson sold it for, very few assets now.

 

[ijjysmith]

The national media begining to comment on this mess we have now:

http://www.bbc.co.uk/blogs/philmcnulty/2011/02/what_next_for_moyes_everton.html

I don't usually get involved in this type of thread as people on here know far more than me about the Ins and outs of board type activities.
However, this article looks pretty sound to me and it's good that someone has plucked up the courage to write this and get it on the main page of the BBC website.

Matt D, does this Phil McNulty know his stuff or does he have a hint of snide? I'd like to know before I judge the article fully.

 

[kenada_blue]

I don't usually get involved in this type of thread as people on here know far more than me about the Ins and outs of board type activities.
However, this article looks pretty sound to me and it's good that someone has plucked up the courage to write this and get it on the main page of the BBC website.

Matt D, does this Phil McNulty know his stuff or does he have a hint of snide? I'd like to know before I judge the article fully.

I think he's a kopite but he was/is a north west reporter for the BBC. While being slightly sensationalist and misinformed...he's probably one of the better sports reporters out there.

 

[davek]

I think he's a kopite but he was/is a north west reporter for the BBC. While being slightly sensationalist and misinformed...he's probably one of the better sports reporters out there.

He's an Evertonian who worked for the Echo. Cant stand him, tbh. He saw to it that Joe Royle was given zero support in the press and did Johnson's dirty work for him.

 

[EFC NY]

These are the questions that need to be answered. Maybe some of our posters know the answers already:

1) Does EFC turn an operational profit, loss, or break even?
2) If EFC is profitable, is Kenwright using said profits to finance himself/other businesses?
3) If EFC is profitable, but no as to 2, than WTF is happening to the profits?
4) How many EPL clubs have ownership pouring more money into the club than they pull out (i.e., using the club as an expensive hobby) simply because they have the ability to do so, and want to win?
5) Can you win in the EPL w/o an owner inclined to do what is described in 4)?

 

[kenada_blue]

He's an Evertonian who worked for the Echo. Cant stand him, tbh. He saw to it that Joe Royle was given zero support in the press and did Johnson's dirty work for him.

Hahaha you're getting worse than the Sniderman!

Fair do's...thought he was a kopite to be fair.

We've also got Dave Maddock of the mirror! He's ejaculate blue that feller hehe

 

[Megaface]

http://www.guardian.co.uk/football/2009/jan/20/david-conn-everton-robert-earl

This is an old article now, but it solidifies my beliefs that Bill should sell up at least...

"He does not, the spokesman said, intend to put further money in until Everton are in a new stadium, when the club could be in a position to attract further investment."

Where are we going to get new investment? We're not. As has been repeated over and over, who wants to simply give money to Bill and not have the power that comes with it? I find it painful now, to watch Everton, and see us struggling. I think we can survive this season fine enough, it's next season I'm worried about.

 

[milks]

These are the questions that need to be answered. Maybe some of our posters know the answers already:

1) Does EFC turn an operational profit, loss, or break even?
2) If EFC is profitable, is Kenwright using said profits to finance himself/other businesses?
3) If EFC is profitable, but no as to 2, than WTF is happening to the profits?
4) How many EPL clubs have ownership pouring more money into the club than they pull out (i.e., using the club as an expensive hobby) simply because they have the ability to do so, and want to win?
5) Can you win in the EPL w/o an owner inclined to do what is described in 4)?

I'm speculating entirely, based upon studies of the EFC published finances and a little knowledge and understanding.

1) No. To my knowledge no football club operates at a profit. Arsenal are on course to do so however once the cost of their stadium build is recouped.
2) See above.
3) No profit, but would imagine that any surplus funds are used as leverage against debt - bank and board.
4) Man Utd, Liverpool, Chelsea, Man City, West Ham, Stoke, Tottenham, Sunderland, Newcastle, Birmingham, Wolves...need I go on?
5) I highly doubt it.

Everton aren't in a bad financial position, but don't seem willing/able to speculate against future income. I'm going for willing as the board clearly don't wish to invest further.

Not good for the fans. Not the end of the world for the club.