The 2015 Everton AGM is held on Monday 23rd November evening at St Georges Hall. I felt this deserved it's own thread, at least until the conclusion and aftermath of the meeting tomorrow.
The Everton Shareholders Association have collected and submitted a record 41 questions for the board from their members, and these will be presented at the meeting tomorrow. The full list of questions can be found in this document:
http://www.efcsa.org/wp-content/upl...M-2015-Questions-by-Category-as-at-211115.pdf
but for the benefit of this thread/forum, here are the questions that will be asked of the board:
The Board and Directors
1. Could the CEO confirm that none of the Directors have directly or indirectly benefited financially in any way from any financial dealings between the club and any 3rd party?
2. Could the Secretary confirm the dates of all meetings of the Directors since the last AGM, the attendance record of all Directors and confirmation that the proceedings of the meetings have been recorded in Minute Books kept for that purpose?
3. Could the Secretary please publish the times and dates of all formally minuted Board Meetings since the last AGM, how long they lasted and who attended.
4. The Board are no doubt aware of a social media campaign to establish Phillip Green as a key player at Board level in the running of the club. Could the CEO please confirm that Phillip Green has no direct or indirect financial interest in the Club?
5. Following the sad passing of Sir Phillip Carter, and the failure to date to attract either a buyer for the Club or additional investment, and the potential requirement for additional commercial income for a new stadium or redevelopment of Goodison Park, does the Board feel it necessary to add further Directors to the Board who have experience in such areas?
6. Can the Chairman please advise what Robert Earl brings to the Club? He is never seen or heard of; in fact he makes a silent partner look noisy. What exactly does he contribute?
7. The Board have always said they have not taken any money out of the Club. Given that the CEO is not a Director of the Company can they explain for whom was the Director’s Remuneration of £350,000 in the accounts of 2013-2014?
New Stadium
8. Following on from last year’s General Meeting when the CEO stated that the Board needed to think long and hard about taking on further debt to fund a new stadium can the Board please advise;
Has the potential financial gap been identified?
Have discussions taken place about taking on debt to fund any gap and any decision therein?
If discussions haven’t taken place does this now mean the Club has decided to stay at Goodison Park with the ground being developed on an incremental basis?
9. Given the repeated failed attempts to relocate our club away from its historic home, is it not time that the Board commissioned a design-competition whereby all interested parties could submit plans for the phased redevelopment of Goodison Park?
10. Several years ago, the city planners of Liverpool stated that they would be receptive to ideas for the development of Goodison Park. Can the Board confirm if, and when, possibilities for footprint expansion have been discussed with Liverpool City Council and what was the outcome?
11. Can the CEO clarify the current status of the Goodison Park with regards to ownership and what charges, if any, restrict the development of the site?
12. Can the CEO comment as to what property or land the Club own adjacent or close to Goodison Park, specifically that which could be used to facilitate the development of the stadium?
13. Can the CEO comment on the recent announcement by the Mayor of Liverpool that implied delays on the progress of the proposed new stadium at Walton Hall Park are the fault of the Football Club?
14. What is the current status of the proposed move to a new stadium at Walton Hall Park?
Financial Performance
15. The new TV contracts will avail the Club of significant additional revenues and profit. Are there any constraints as to how such monies can be used (e.g., caps on wages)?
16. Strategically what is the Club looking to use the significant additional TV income for?
Invest in the team
Pay off debt
Redevelopment of Goodison Park
Relocation to a new Stadium?
17. Shareholders note with interest the recent and significant increase of senior people recruited into the Commercial Department. Is such investment going to be extended and does it acknowledge a previous weakness in this area?
18. Could the CEO confirm that the increase in operating costs, specifically in the Marketing and Commercial Departments is planned to be compensated for, and therefore self funded, by a significant increase in income generated from their activities?
19. What process did the CEO follow in attempting to seek a better shirt sponsorship deal before the decision was made to continue with Chang? Furthermore assuming a recommendation was made to the Board is this recorded in the minutes of the Board Meetings?
20. Can the CEO confirm that the deal done with Chang was the very best financially available at the time it was agreed? The following questions were received from Shareholders after the publication of the most recent accounts.
21. Shareholders note a significant increase in “Other Operating Costs” – due to its fiscal significance this is a number that has consistently been queried so can the CEO please provide a more granular explanation?
22. Is the CEO able to offer further insight in to the reason for the significant reduction in fees for “non-audit services”?
23. Can the CEO please offer an explanation and the business rationale for the huge increase in headcount in the areas of “Management and Administration”?
24. Everton in the Community is not part of the Group and operates separately. Can the CEO offer clarity as to why the Club has born operating costs of £161,000 on behalf of the Charity.
25. Can the CEO confirm that the currency hedging explained in Note-26 is only providing cover for Euro (€) based transactions?
26. Can the CEO explain how the £8.2m of theoretical revenue, that would be gained if certain services were not outsourced, has been calculated?
27. Can the CEO confirm that the significant increase in “other commercial activities” will be maintained and offer further insight into what has driven this impressive performance?
28. Can the CEO offer further insight into what was acquired with the £2.7m of Capital Expenditure?
29. The Board have always said they have not taken any money out of the Club. Given that the CEO is not a Director of the Company can they explain for whom was the Director’s Remuneration of £370,000 in the accounts?
Selling the Club and / or Seeking Investment
30. With Aston Villa and WBA recently failing to be sold could the Board offer an opinion as to why they think Premier League clubs have not changed ownership in recent years? Specifically what interest, if any, has been shown in Everton since the last AGM and what caused them to not proceed to closure?
31. What plans, if any, does the Board have to involve the people who own more than 31% of the stock in the company in the process for seeking investment in or the sale of the business?
32. Is there ongoing interest from someone seeking to purchase the Club?
33. What percentage of the shares in the Club is for sale?
34. Dr Tom Markham uses an algorithm to value Premier League Clubs and this estimates the value of Everton at around £220m, does the Board agree with him and if not what range of valuation would they currently place on the Club as a whole (rather than just their shareholding)?
35. Could the Board explain how the Everton Free School and Everton in the Community fit in with the overall strategy of the Football Club? Furthermore in seeking to sell the Football Club do the Directors consider that these two entities could stand-alone if new owners didn’t wish to continue the patronage they enjoy from the current owners?
Miscellaneous
36. Does the Club have any intention of recognising the contribution of our most successful manager by renaming one of the existing stands in his honour?
37. How does the Board view the recent establishment of the Everton Supporters’ Trust? Do they see it as an opportunity to engage further with fans on a formal level? Do they see it as eventually having a seat on the Board and if so would that opportunity also be extended to the Shareholders’ Association?
38. How does the Board view the future of the Everton Fans’ Forum in the light of the creation of Fans’ Groups, such as the Everton Supporters’ Trust that are, unlike the Fans’ Forum, demonstrably and completely democratic ?
39. The Club recently announced it is to become a Living Wage Employer, for clarity can the Board confirm the following;
How many staff does the club employ and how many does this decision effect?
Does this decision also impact employees whom are not directly employed by the Club such as employees of Everton in the Community, the Everton Free School and staff at Finch Farm?
How many ancillary staff working on match days including those working in Hospitality, Stewards, those at the Club stores and Traffic Control etc does this commitment include or exclude?
Does the Club expect to encourage its Suppliers, Contractors and Agency Staff employed at the Club’s establishments to become Living Wage Employers?
40. I understand that the Club operates a Blacklist against some of its own supporters. Can the Board confirm if this is true and if it is true that it will end the practice forthwith? Furthermore will the Club confirm that if in extreme circumstances it feels the need to take action against individuals that the reason for such action will be provided in writing and the individual will have the right to appeal against any action imposed?
41. Can the Club confirm that Shareholders will continue to benefit from preferential treatment for match tickets, specifically for the so called “bigger games” post any change of ownership as was the case with Liverpool FC?
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Some very interesting questions there that, if answered, could create some very newsworthy answers. It's really time now for the club to provide some major answers to key questions. Questions 4, 5, 6, 7, 24, 28, 29, 32, 33, 37, 38, and 40 (all in bold) interest me the most.
Interesting times ahead tomorrow night.
Are these actual submitted questions or just a wish list.
Q9) I really would like this answered one way or the other, but hold out no hope what so ever as it doesn't fit the big payday end game.
Q16 ) I think the answer will be a) teambuilding, which will include wages etc and no more money left over for the rest.
Q21) should read what proportion of the Other Operating costs ends up in the BVI?
Q24) I'm glad they do fund it, less money the Charity has to pay out the more it CAN pay out
If we get answers to any but the most mundane questions and only then in very vague terms...citing commercial sensitivity, I will be most surprised.
My guess; there will be multiple pleadings of the '5th'... of the business / Football sort.
Again it will be, as always with Everton, Very many more questions than answers.
