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

[Matt Damon]

This is 100% spot on. All the talking down of administration is head in the sand cowardice to face facts. We may not be in immediate threat of administration, but the quickening movement of the club in a certain direction is a great source of worry. When something goes down it goes down fast. It's the difference between that moment when cold water ceases to be liquid and turns to ice. In other words, it's only a matter of time before quantitative loss is transformed into something qualitative.

Davek. I'm turning the other cheek to a comment like that.

You often do make that sort of remark when you're under pressure. So that is very revealing.

I'll be waiting on your latest attempt of publishing a story in which you can try and push your agenda on here.


I on the other hand will stick to whats actually going on.

 

[Neiler]

Neiler, anyone can get something "published" these days. In this case, it's davek with a site sympathetic to his aims.

(That is not meant to be a comment on the views in the article - just that the fact of publication has become more "democratic" and is not, if it ever was, a validation in itself.)

People are still open to defamation mate. But i understand your point. To be honest the editorial its pretty close to my analyse of things at the moment albeit a wee bit sensational, i posted something very familar to that last week, i think the theme is correct, though i sincerley hope im wrong.

To be honest, i think on this occasion Dave may be proved correct, the buissness model has hit the skids, there are warning shots all over the show, tangeable ones at that and not just conjecture.

We are heading into possibly the most difficult 24 months in recent memory and under the present regeime. Its very possible as a club on and of the pitch we are going to have to take three or four steps back from the progress made in the last ten years.

Nothing would give me greater pleasure then being wrong here.

 

[davek]

Davek. I'm turning the other cheek to a comment like that.

You often do make that sort of remark when you're under pressure. So that is very revealing.

I'll be waiting on your latest attempt of publishing a story in which you can try and push your agenda on here.


I on the other hand will stick to whats actually going on.

Eh? Why on earth would I be under pressure? You make me laugh. I've posted for years about how unsustainable Everton FC finances are which was met with general scorn, and now it's apparent that the finances are down the toilet you find your voice on the subject at long last. Having backed these idiots up to the hilt previously, you're now providing reasons why they should go!

The road to Damascus has many travellers, I suppose.

Lol!!

 

[PeterMeter]

Yeah, I read somewhere I think that average attendances had dropped to somewhere just above 34,000. And the prizes have already been raised from when I was there.

I just have to believe that there's some way that we, even as individual fans, can help push the club forward.

In regards to what's been written with huge interests of loan to be payed, the level of debt and the lack of interest to invest further money into the club by the board I think there's only one apparent way to go come summer. That means either Baines, Rodwell or Fellaini will have to go in a 20-30 mil transfer, as these are our only 10 mil+ assets right now from what I can tell..
(And I realize some among here rate Jags or Johnny as 10-15 mil but I have a hard time seeing anyone paying over the odds for them when everyone can see we're on a slippery downward slope as it is).

If we're lucky, Moyes will have maybe half of that back to invest into the squad again, which to be honest right now seems to be hoping for alot.

(Damn you 'Reply with quote' for not working at this crucial time!)

 

[uknightbreed]

Everton are almost in administration
By David O'Keefe : 05/02/2011 : Comments (6) :
Links are provided in this article to copies of relevant documents, made available here as electronic files in portable document format (pdf). The hypertext links will either open or offer to download these files, depending on your internet browser.

The club have sold one player and allowed four players to go out on loan during this transfer window. The manager is not happy and I find it hard to share his belief that there were no players of quality that he wanted to bring in to the club.

I do not want to accuse Moyes of lying; he isn’t; he has to abide the rules regarding data protection and confidentiality, the position at the club is the worst of them all. He knows what’s going on, but he can’t reveal it, lest it harms his career in football management.

Many supporters are rightly asking why the smallest squad in the league has allowed five players to leave and replaced them with no-one of any note. The answer is one that will shock, but not necessarily surprise you.

The club's credit rating has fallen from 30 to 12 out of 100. Cash transactions are preferred and a rating of 1-20 is labelled “caution – credit at your discretion”. The club is now unable to get any credit.

Before Christmas, the club took out another loan from Barclays to cover the Investec loan. This should be of great concern to all of us. The Investec loan, for those that do not know, was borrowed against next year’s revenues.

Why this is happening is immediately obvious: the club has run a tight ship for many years, but the business plan of the Kenwright regime (asset utilisation) has hit the wall. The debt repayments from the 14 existing mortgages, in combination with declining revenues, are responsible for the current difficulties...

“This asset utilization and disposal plan that has been adopted by the board, it can’t be sustained forever can it?”

“No” came the reply.

“It’s inherently unsustainable, won’t the assets run out and the loan repayments overwhelm the clubs ability to provide sufficient funds to obtain better players?”

“We have a highly qualified finance team and a good relationship with the bank. That wouldn't be allowed to happen,” replied Robert Elstone.

That good relationship with the banks appears to be at an end. Sadly, it gets worse, according to my source. This is the “murder” that a certain Echo journalist should know all about; if he doesn’t....

The club has spent the past month trying to prove to the auditors that they have sufficient funds to continue as a going concern; that is why the accounts have been delayed. The wage bill has increased and match-day revenues are down (attendances are down to around 34,000). Phillip Green is no longer acting as guarantor for the loans that the club has taken on; he has switched his interests to West Ham for obvious reasons. The banks want a reduction in the unsecured overdraft; to achieve this, Elstone has been told to take £6-8 million off the wage bill and raise £10 million net in cash.

Moyes is unhappy with this… and with good reason, his squad is going to be smaller and a key player will be sold to raise the £10 million in the summer. Chairman, CEO and Manager have been at each other’s throats… there very nearly was a murder at Goodison this January.

It can’t continue anymore — the club is close to administration, there are two options open to the board: rebuild or sell up.

my 5 year old nephew could have wrote that whole article by reading 2 or 3 so called itk posts over the internet last week.
this david o'keefe is clearly a schmuk , looking for a scoop/infamy by printing an article based on guess work , hearsay and adding 2 + 2 and coming up with 5.

im calling you out mr o'keefe ... i think you are a legend in your own lunchtime who is writing sub standard junk with more 'dot to dot' guess work + opinion than hard fact to suit your own personal agenda . im anti bk and want him gone , but i refuse to back retarded , self important, self indulgant doommongering junk like this without a shred of 'real' evidence to back up your claims .

 

[Chang Elephant]

Eh? Why on earth would I be under pressure? You make me laugh. I've posted for years about how unsustainable Everton FC finances are which was met with general scorn, and now it's apparent that the finances are down the toilet you find your voice on the subject at long last. Having backed these idiots up to the hilt previously, you're now providing reasons why they should go!

The road to Damascus has many travellers, I suppose.

Lol!!

He's spent years defending and explaining every pitiful business venture/blind alley **** up this board has made. Now they've got nowhere to go, no last chance saloon dice throws, the fact they're gonna have to sell is being claimed as some sort of insight.

Should have been a politician. b)

 

[davek]

He's spent years defending and explaining every pitiful business venture/blind alley **** up this board has made. Now they've got nowhere to go, no last chance saloon dice throws, the fact they're gonna have to sell is being claimed as some sort of insight.

Should have been a politician. b)

I know mate, it's staggering. I think he reckons we've all got collective amnesia. No principles whatsoever.

 

[babyblue180]

I am under no doubt there will be big big changes this summer and from reading what Moyes has to say today the changes wont be him for time being so that leaves me with my theory that Kenwright was purposely downsizing for a sale/investment however you want to dress it up as he simply cannot afford to keep his 'asset' going.

As someone once said 'watch this space' only this space seems to be closing in on the person who said it.

 

[Matt Damon]

He's spent years defending and explaining every pitiful business venture/blind alley **** up this board has made. Now they've got nowhere to go, no last chance saloon dice throws, the fact they're gonna have to sell is being claimed as some sort of insight.

Should have been a politician. b)

If you're going to make claims like that - do the links with evidence lad of my "years of defending and explaining". Fact of the matter is events outside of Everton (the 2008 financial crisis) is as much a driver in this than any of what you're saying.


Otherwise you're talking as much nonsense as Davek and David O'keefe and the IRRESPONSIBLE claims the clubs close to administration. Which frankly are a disgrace.

Oh and in response to Davek, the finances are no more down the toilet than any other club. The issue is that Kenwright cannot afford the rates for financing expanding the stadium and expanding turnover.

Therefore he's in a dead end. Before this year he wasn't. Except the financial market is closed now to him to expand turnover the way he believed he could.


You talk about politicians but you two are the ones spinning anything to portray things to suit your warped "everything-kenwright = evil" agendas.


You will notice I don't dress this up as being about Kenwright personally. Unlike some I can mention.

 

[Matt Damon]

I know mate, it's staggering. I think he reckons we've all got collective amnesia. No principles whatsoever.

I've got more principles and scruples than you've had hot dinners lad.

 

[theevertonian]

I don't think we will go into administration as suggested earlier as we clearly still have saleable assets on the park. However clearly something has happened to force us to release 5 players in January.

It would be interesting to know exactly Kenwrights financial obligations to Philip Green because most rumours I hear are simply that when he financed Kenwrights purchase of his shareholding he negotiated that he was paid back at around £4k per share when of course they are worth nothing like that. Green wants his money back now so what happened in January was done to start repaying him. Whether that is true I dont know, it was passed to me by a work colleague who does some work with everton and has several sources there. We have clearly needed to reduce the wage bill in January and raise funds. Clearly if Spurs had offered something reasonable for Neville he would have gone. If it is the case, and it make sense to me then Kenwright has done the same as Hicks and Gillette, borrowed to buy the club and the club is saddled with the bill.

I can only hope that he perhaps has to repay Green first before a deal to buy the club can happen. One thing is for sure if he has not got a buyer up his sleeve we are donald ducked. As moyes suggested yesterday the likes of fellaini will not hang around if he thinks we are not going to improve the squad while other clubs must view are players as easy targets.

 

[Chang Elephant]

It would be interesting to know exactly Kenwrights financial obligations to Philip Green

Kenwright has done the same as Hicks and Gillette, borrowed to buy the club and the club is saddled with the bill.

One thing is for sure if he has not got a buyer up his sleeve we are donald ducked.

You do have to wonder whether there has been some sort of obscured leveraged buyout arrangement given Kenwright's limited finances when buying the club. Just hope he comes out of this with nil profit or worse.

 

[formerly manx toffee]

You do have to wonder whether there has been some sort of obscured leveraged buyout arrangement given Kenwright's limited finances when buying the club. Just hope he comes out of this with nil profit or worse.

You have a very short memory

 

[Deleted member 28206]

Everton are almost in administration
By David O'Keefe : 05/02/2011 : Comments (6) :
Links are provided in this article to copies of relevant documents, made available here as electronic files in portable document format (pdf). The hypertext links will either open or offer to download these files, depending on your internet browser.

The club have sold one player and allowed four players to go out on loan during this transfer window. The manager is not happy and I find it hard to share his belief that there were no players of quality that he wanted to bring in to the club.

I do not want to accuse Moyes of lying; he isn’t; he has to abide the rules regarding data protection and confidentiality, the position at the club is the worst of them all. He knows what’s going on, but he can’t reveal it, lest it harms his career in football management.

Many supporters are rightly asking why the smallest squad in the league has allowed five players to leave and replaced them with no-one of any note. The answer is one that will shock, but not necessarily surprise you.

The club's credit rating has fallen from 30 to 12 out of 100. Cash transactions are preferred and a rating of 1-20 is labelled “caution – credit at your discretion”. The club is now unable to get any credit.

Before Christmas, the club took out another loan from Barclays to cover the Investec loan. This should be of great concern to all of us. The Investec loan, for those that do not know, was borrowed against next year’s revenues.

Why this is happening is immediately obvious: the club has run a tight ship for many years, but the business plan of the Kenwright regime (asset utilisation) has hit the wall. The debt repayments from the 14 existing mortgages, in combination with declining revenues, are responsible for the current difficulties...

“This asset utilization and disposal plan that has been adopted by the board, it can’t be sustained forever can it?”

“No” came the reply.

“It’s inherently unsustainable, won’t the assets run out and the loan repayments overwhelm the clubs ability to provide sufficient funds to obtain better players?”

“We have a highly qualified finance team and a good relationship with the bank. That wouldn't be allowed to happen,” replied Robert Elstone.

That good relationship with the banks appears to be at an end. Sadly, it gets worse, according to my source. This is the “murder” that a certain Echo journalist should know all about; if he doesn’t....

The club has spent the past month trying to prove to the auditors that they have sufficient funds to continue as a going concern; that is why the accounts have been delayed. The wage bill has increased and match-day revenues are down (attendances are down to around 34,000). Phillip Green is no longer acting as guarantor for the loans that the club has taken on; he has switched his interests to West Ham for obvious reasons. The banks want a reduction in the unsecured overdraft; to achieve this, Elstone has been told to take £6-8 million off the wage bill and raise £10 million net in cash.

Moyes is unhappy with this… and with good reason, his squad is going to be smaller and a key player will be sold to raise the £10 million in the summer. Chairman, CEO and Manager have been at each other’s throats… there very nearly was a murder at Goodison this January.

It can’t continue anymore — the club is close to administration, there are two options open to the board: rebuild or sell up.

Carlos.Where is this from please mate?

 

[Chang Elephant]

You have a very short memory

You make that sound like a criticism