Install the app
How to install the app on iOS

Follow along with the video below to see how to install our site as a web app on your home screen.

Note: This feature may not be available in some browsers.

 

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

Is it time for Change...???

  • Kenwright an the Board out, We need Change.

    Votes: 503 80.0%

  • Im Happy with the way thing are. Kenwright an the Board should stay

    Votes: 126 20.0%
  • Total voters
    629
Status
Not open for further replies.
All to be reveiled, should tell us an awfull lot, i make it a loss of between 8 -15 mill.

Intresting date for accounts to be signed of, my first reaction is: 31 of Jan - was that when the transfer window closed hmm - defo posting a loss - looking very bad.
 

Neiler said:
All to be reveiled, should tell us an awfull lot, i make it a loss of between 8 -15 mill.

Intresting date for accounts to be signed of, my first reaction is: 31 of Jan - was that when the transfer window closed hmm - defo posting a loss - looking very bad.
Click to expand...

Could you explain that ?
 
Neiler said:
All to be reveiled, should tell us an awfull lot, i make it a loss of between 8 -15 mill.

Intresting date for accounts to be signed of, is my first reaction 31 of Jan - was that when the transfer window closed hmm - defo posting a loss.
Click to expand...

I believe the thing to look for is if the club auditors give a qualification of their assessment - meaning that their outlook for the trading worthiness of the club might differ from other independent beancounters.

Are there any accountants on?
 
Matt Damon said:
Could you explain that ?
Click to expand...

Well the way i read it mate, is pessamisticly, we we're never going to make an outlay on players - bar a loan and we didnt even get that.

As we know the club were prepared to let, Yak, Vaughan, Pienaar and Heitinga go, sending in the accounts at the end of Jan gave us the maximum amount of time to ship out 3 of those 4 which leads me to think we wanted every cent in to make the accounts look better.
 
Last edited:
davek said:
I believe the thing to look for is if the club auditors give a qualification of their assessment - meaning that their outlook for the trading worthiness of the club might differ from other independent beancounters.

Are there any accountants on?
Click to expand...

Yer pretty much what you said, it will be either an emphasis of matter modification to the audit report or a qualification of the audit report. If either of these appear and are in relation to the club and it's ability to continue as a going concern then it is a time to worry. If none of these issues arise in the accounts then hopefully the scare mongerers saying we are going into administration will go away.

The other point if we were on the brink of administration then the accounts would not have been signed as they would be instantly qualified by the auditors and would probably trigger a breach in loan covenants that would in turn be the straw that broke the camels back.
 
Damo W said:
Yer pretty much what you said, it will be either an emphasis of matter modification to the audit report or a qualification of the audit report. If either of these appear and are in relation to the club and it's ability to continue as a going concern then it is a time to worry. If none of these issues arise in the accounts then hopefully the scare mongerers saying we are going into administration will go away.

The other point if we were on the brink of administration then the accounts would not have been signed as they would be instantly qualified by the auditors and would probably trigger a breach in loan covenants that would in turn be the straw that broke the camels back.
Click to expand...

Given that the new building is due to start going up within the month... then I find the latter to be extremely unlikely.

Ref: ability to keep going as a "going concern"
 

Neiler said:
All to be reveiled, should tell us an awfull lot, i make it a loss of between 8 -15 mill.

Intresting date for accounts to be signed of, my first reaction is: 31 of Jan - was that when the transfer window closed hmm - defo posting a loss - looking very bad.
Click to expand...

The date accounts are signed off is not the same as the end of Everton's financial year which is likely to be something like September / October 2010. It does take a bit of time to put the information together.
 
Matt Damon said:
Given that the new building is due to start going up within the month... then I find the latter to be extremely unlikely.

Ref: ability to keep going as a "going concern"
Click to expand...

I agree the new building wouldn't get the go ahead if we were close to going into administration, sadexo and kitbag wouldn't be getting further involved with everton if we were close to going into administration.

The thing is if people want Kenwright out fair enough, but peddling such unfounded rumours is potentially damaging.
 
ForeverEverton said:
Did our last financial year end on May 31st???

The lataest transfer window will be in the next set of accounts.
Click to expand...

Yes your right, but when the auditors are signing accounts off they need to be sure the company has enough cash to meet it's requirements for 12 months from signing the accounts so although from an accounting point of view it will, for going concern principles It affects the previous years accounts.
 
Damo W said:
I agree the new building wouldn't get the go ahead if we were close to going into administration, sadexo and kitbag wouldn't be getting further involved with everton if we were close to going into administration.

The thing is if people want Kenwright out fair enough, but peddling such unfounded rumours is potentially damaging.
Click to expand...

Exactly. It makes day to day operations at the club more difficult, it actually becomes self fulfilling as it contracts liquidity!


Kenwright may have difficulty finding finance. But in terms of operating, but Everton, with a last reported turnover at 80million, and two new tv deals? Nope. The club's fine for this and next season.



Kenwright's not taking the club anywhere fast. He can't increase turnover (quick enough). Therefore he's got no option but to sell.

But that's not to say that the prospects of EFC are poor. Because they're not. If the club even partially rebuilt one stand for an extra 5000 seats that would have a big impact on revenues. (£160k a game or £3million a season on its own)
 
Last edited:

Status
Not open for further replies.

Welcome to GrandOldTeam

Get involved. Registration is simple and free.

Register
Back
Top