84% of fans think Everton is a well run club.

[kjb1994]

Sit down or you will be ejected from the stadium

 

[BoysInBlue]

Who else was around who was prepared to take over the running of the club?

In hindsight, the club was far from the point of collapse under Johnson. We had assets back then and no liabilities.

The financial position of the club is much worse now under Kenwright, than it was at the end under Johnson.

Johnson was rightly unpopular for selling the fans idol Ferguson behind Smith's back, and was run out of the club because of that after Smith grandstanded and did a 'he goes or I goes' piece. Johnson was already looking for an exit after his own stadium plans had hit a hitch, so it came as a blessing for him.

 

[Steve Wigan]

In hindsight, the club was far from the point of collapse under Johnson. We had assets back then and no liabilities.

The financial position of the club is much worse now under Kenwright, than it was at the end under Johnson.

Johnson was rightly unpopular for selling the fans idol Ferguson behind Smith's back, and was run out of the club because of that after Smith grandstanded and did a 'he goes or I goes' piece. Johnson was already looking for an exit after his own stadium plans had hit a hitch, so it came as a blessing for him.

So...again...who else was prepared to take over the club then ?

 

[Duncan Disordely]

So...again...who else was prepared to take over the club then ?

There was an American bid at the time.

http://news.bbc.co.uk/1/hi/sport/football/476619.stm

A US finance house have agreed a deal to buy out former chairman Peter Johnson's controlling interest in Everton.
But the move is unlikely to end the lengthy saga of who owns the club, which has dragged on for almost a year.

It is believed that vice-chairman Bill Kenwright will now have to join forces with another North West consortium of businessmen to fight the American offer.

Theatre impresario Kenwright has been struggling for almost a year to win control of the club himself.



Peter Johnson: Holds 68% stake
Johnson resigned as chairman in late 1998, but although he left the club, he has so far refused to sell his 68% stake inb the Goodison club.

The impasse has left the Toffees unable to compete in the transfer market, while a number of players have been sold to pay off debts.

The situation looks set to be resolved in one way of another by this Thursday's annual general meeting of the club.

On Monday accountants representing Manhattan-based EM Warburg Pincus and Co can begin checking the books of the Goodison Park club with a view to their deal being completed.

The Warburg Pincus bid is believed to have been brokered by computer games entrepreneur and Everton fan Paul Finnegan.

It was presented to Johnson's Leeds-based brokers Arthur Anderson, and accepted by the Jersey-based major shareholder.

Battle

The scene is set for a battle for control between Kenwright and the Americans, with the impresario facing the possibility of being voted off the board by Johnson's majority control at Thursday's AGM.

Kenwright has yet to make a formal bid, although a rival consortium of North West businessmen have had a £30m offer rejected.

They are not connected to Kenwright, although there is speculation that the two will join together to fight the American bid.

Kevin Nolan, spokesman for the club's shareholders association, confirmed that his organisation know about the American bid and accept that it is genuine.

But he said: "I will believe it has happened only when the cheque has cleared the bank."

Sources believe that the American offer is not the end of the matter - merely the beginning of another lengthy battle for control of the club.

 

[Duncan Disordely]

From wiki:

http://en.wikipedia.org/wiki/Warburg_Pincus

Warburg Pincus, LLC is a global private equity firm with offices in the United States, Europe, Brazil, China and India. It has been a private equity investor since 1966. The firm currently has approximately $30 billion

In 1999, they attempted to purchase English Premier League football (soccer) team Everton.

Oh dear, worth $30 Billion now

I remember being dead made up the local lad had bought us too

 

[davek]

There was an American bid at the time.

http://news.bbc.co.uk/1/hi/sport/football/476619.stm

As I remember, there was quite a bit of interest in the 12 month power vaccum between Johnson agreeing to leave and the eventual sale of his shares...all of it met with suspicion and negativity by the Echo who were going to bat for Kenwright and didn't want any outsider coming in and destroying the cosy relationship they had with him.

 

[Duncan Disordely]

As I remember, there was quite a bit of interest in the 12 month power vaccum between Johnson agreeing to leave and the eventual sale of his shares...all of it met with suspicion and negativity by the Echo who were going to bat for Kenwright and didn't want any outsider coming in and destroying the cosy relationship they had with him.

Funny that, because I believe they had backed Johnsons bid over the earlier Kenwright consortium, and were referring to that as the "Manchester consortium"

We could have been the first of the big foreign takeovers, and by a company that's now got $30 billion in assets

 

[Steve Wigan]

There was an American bid at the time.

http://news.bbc.co.uk/1/hi/sport/football/476619.stm

Yep,that was the Warburg Pinkus 'bid' which used Paul Finnegan as a front. They pulled out.

 

[D410]

Is there anything to come from KEIOC, or is that last line more of a plea for the truth?

something in the works.

 

[davek]

Funny that, because I believe they had backed Johnsons bid over the earlier Kenwright consortium, and were referring to that as the "Manchester consortium"

We could have been the first of the big foreign takeovers, and by a company that's now got $30 billion in assets

Yes mate, they did go for Johnson over Kenwright. Possibly the Echo were complying with the wishes of the then majority owning Moores family who had no time for Bill and his cast of light entertainers who stood with him in his first bid. Kenwright defo cultivated associations with the local media during Johnson's period of ownership though. And it paid off.

 

[D410]

http://www.sos1878.co.uk/everton-ne...ults-90-of-blues-worry-about-evertons-future/

Houston we have a problem

 

[steken1]

Does this change things somewhat in the 'knight in shining armour' story?

 

[edge]

Does this change things somewhat in the 'knight in shining armour' story?

unfortunatly steken1 it does not have the full force of the bill kenwrigh pr machine behind it to get to a wider public,press or tv, so dont expect the club or the echo to take a bit of notice

 

[steken1]

unfortunatly steken1 it does not have the full force of the bill kenwrigh pr machine behind it to get to a wider public,press or tv, so dont expect the club or the echo to take a bit of notice

Sad but very, very true mate. It's funny how many will willfully ignore that we went years without spending a pound but will lap that stuff up.

As Davek says you get the club you deserve.

 

[edge]

Sad but very, very true mate. It's funny how many will willfully ignore that we went years without spending a pound but will lap that stuff up.As Davek says you get the club you deserve.

Davek is correct with that one