Times article, Burnley/Leeds threaten to sue Everton

[WestStandLower]

Just read that Everton lost a possible £60 million transfer fee because of covid on Cenk Tosun and this is put down in the £371.8 million losses. Stuff like this s subjective considering Everton paid £27 million for him in January 2018. I don't think he was ever worth £60million. Personally I have no gripe against Everton even being a Leeds fan, and my family supporting Everton. It makes for some good banter. I think the authorities have cocked up with what clubs could right off with covid. Gate receipts are the first obvious one, but righting off transfer fees some parameters had to be put in place to stop things like Cenk Tosuns valuation being used as a write down tool. I don't think any Evertonian even with rose tinted glasses would say Tosun was a great buy.

The 21/22 numbers have crystallised losses averaged at circ £49 million over the two COVID impacted accounting years.

In the notes that accompany the accounts it is suggested that the numbers reflected in the accounts by way of impairment and onerous contracts in respect of players that were already at Everton were exceptional and due to COVID, that is subjective take on matters but I suspect fully reasonable but in terms of trying to argue that we could have got £x for a player yes that again is subjective but I doubt 5hat could realistically be argued.

 

[ToffeeTim]

Just read that Everton lost a possible £60 million transfer fee because of covid on Cenk Tosun and this is put down in the £371.8 million losses. Stuff like this s subjective considering Everton paid £27 million for him in January 2018. I don't think he was ever worth £60million. Personally I have no gripe against Everton even being a Leeds fan, and my family supporting Everton. It makes for some good banter. I think the authorities have cocked up with what clubs could right off with covid. Gate receipts are the first obvious one, but righting off transfer fees some parameters had to be put in place to stop things like Cenk Tosuns valuation being used as a write down tool. I don't think any Evertonian even with rose tinted glasses would say Tosun was a great buy.

Where did you read this

 

[banno]

Bbc "It is understood they are viewing the matter as one of sporting integrity given that the Toffees spent more money in the last transfer window by signing Dele Alli, Vitaliy Mykolenko and Nathan Patterson in deals worth an initial £35m, rising to as much as £70m."

I thought it was £2.50

Sporting integrity is not a law or rule. We may have used the Dele Ali transfer as a canny way of manipulation but it is not against any rules

 

[catcherintherye]

Which was agreed by the league.

If it wasn't, we wouldn't have done it.

Ta'ra

Also crucially, these would be in next years figures, so they don't have any relevance. It kind of shows the BBC don't really know what they are talking about.

 

[catcherintherye]

Where did you read this

I have asked that too. I've seen nothing to credibly suggest, we have valued Cenk Tosun at 60m.

 

[zebedee]

Not being funny. You don't become a billionaire if you rubbish with money, BK for all his faults is actually a ruthless business man and extremely well connected.

Find it funny, as a previous post above if this even had legs the PL would be in serious trouble at the end of every season.

They of course need to look into the complaint. I expect a statement of nothing to see here move along.

 

[AsiaAsia82]

Can we just say the FSW was in charge then so he must be implicated, that’ll soon kill this off in the media

 

[Methuselah]

This will be dead in the water by Monday. Whoever survives between Leeds and Burnley will be out of there like a shot to avoid potential legal fees, leaving the relegated club stranded. Everton could time legal action to prevent the Premiership even starting next season with all the TV contract issues involved. Knowing the Premiership they well deduct us 1 point which still makes us safe. lol

 

[WestStandLower]

During the pandemic no players could be sold for the book price, in addition to paying their wages you also need to take into account their contact running down and the loss of bargaining through no fault of the club. Nothing at all to see in this, would be impossible to calculate properly.

What do you mean by book price ?

In accounting terms players who have graduated through an academy have no amortised value and players who were purchased for a fee have their ( book value )written down ( amortised)over the period of their contract

 

[PITA]

Just read that Everton lost a possible £60 million transfer fee because of covid on Cenk Tosun and this is put down in the £371.8 million losses. Stuff like this s subjective considering Everton paid £27 million for him in January 2018. I don't think he was ever worth £6 million. Personally I have no gripe against Everton even being a Leeds fan, and my family supporting Everton. It makes for some good banter. I think the authorities have cocked up with what clubs could right off with covid. Gate receipts are the first obvious one, but righting off transfer fees some parameters had to be put in place to stop things like Cenk Tosuns valuation being used as a write down tool. I don't think any Evertonian even with rose tinted glasses would say Tosun was a great buy.

I agree.

 

[everton fan number one]

I have asked that too. I've seen nothing to credibly suggest, we have valued Cenk Tosun at 60m.

I think the m was a typo

 

[zebedee]

Seen this

 

[RomanReigns]

Imagine telling an external auditor that they are wrong

 

[ToffeeTim]

I dont think its a stretch to write down the value of players if the market tanks due to a health crisis.

If the housing market collapsed you would be expected to revalue down your investment property to the market value.

Fixed assets should be held in accounts at fair value. Those values clearly are not the same now than they were in 2019.

 

[Cow kecks]

What do you mean by book price ?

In accounting terms players who have graduated through an academy have no amortised value and players who were purchased for a fee have their ( book value )written down ( amortised)over the period of their contract

It was widely reported that PSG were interested in Richarleson for a big fee.How would anyone know if we wanted to sell or keep him? Due to the pandemic all of this was wiped away because of circumstances and through no fault of the club. In the meantime the players value was depreciating due to his contract running down, normally if a club is willing to pay the asking price the deals go ahead but due to the pandemic all this was throwing the business world into a different direction from the norm.