Tis where I've been spending most my time this season, yet it is still very frustrating, but at least I'm not paying silly money per game to watch some overpaid jokers
Everton losses double in latest accounts as 'going concern' threat confirmed
- Thread starter alan ball
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So, does this mean we are well in breach of psr at the moment, or do these figures go into next season's psr period? I only ask because Paul the Esk said we would be compliant for our second psr charge this season. I'm both confused and saddened.
A question I'm glad you asked, been wondering the same.
Drico
Player Valuation: £70m
Rule of Thumb: If "Paul The Esk" says black is white, it is definitely black.
These accounts are part of the PSR breach. Our first breach was a for reporting period 2019-20, 2020-21, and 2021-22; the second will encompass 2020-21, 2021-22 and 2022-23.
It seems that’ll it be a breach of between £10-30m from various reports. It all depends what we can use for mitigation.
Edit: from Citizens of Suburbia -
1. The first cause is the drop in revenue, which is a once off due to USM. That relationship fully unwound in 2022-23 and we took the pain. There is no further unwinding in 2023-2024.
2. So our operational losses increased by £16m directly as a result of this USM termination (from £24.5m to £40.9).
3. The second cause of increased losses is the drop in profits from player trading. Remember in 2022-2023 the main outgoing was Gordon. The sale of Kean, Iwobi, Gray, Simms & Cannon will appear in 2023-24. Gordon helped us realise a fat profit in 2022-23, but the sales of Richy and Digne in 2021-2022 drove a higher profit on player trading.
4. Remember profits on player trading are calculated as: sale price received less the book value of the players (not their acquisition cost). Because Digne and Richy had relatively low book values, this resulted in significant profits.
Mr Happy
Player Valuation: £35m
Everything just feels crap right now. Just goes to prove in life don't get down by things you have no influence on. Control the controllables. Then at least you only have yourself to blame when things capitulate.
Up the mighty joyless, potless, rudderless Toffees !!
Up the mighty joyless, potless, rudderless Toffees !!
The binman chronicles
Player Valuation: £80m
I just wonder how much more the club want from us to keep going. In the last year they've had from me £165 for the Everton way stones, £55 for a couple of shirts, £75 for that commemorative pack, over £600 in match tickets and god knows what in snacks and beer. If I take it I'm an average supporter do they want to start selling our organs to break even now?
pfim
Player Valuation: £50m
It's not good, but there are some specific overreactions here (to me):
1. Relegation is not a solution to anything. Anything you can do in the Championship you can do in the PL, with more revenue.
2. There is no imminent threat of Admin, we are meeting our obligations as they come due (which could change if we are in the Championship) thanks to 777.
3. We should be close to funded for the remainder of the season until the next transfer window opens.
The bad news is that we're likely facing another points deduction from the "independent" panel. You'd hope it's applied in the next season, as applying two in the same season is onerous. But that's completely out of our control.
A few other notes:
1. The proof is in the pudding, but it's important to remember these are backward-looking statements. This reporting period ended 9 months ago. Much has changed.
2. We had a fair chunk of salaries lopped off after 6/30. There will be two more significant ones this year for 10-11 million. These players (Gomes and Alli) don't contribute much, if any, to the first team.
3. We have sellable assets.
4. That MSP can convert their loan to equity should it not be paid in April is great for the club. This removes one threat of Admin (though it's unlikely they would pull the Admin lever as their capital would be at risk).
If you're a fan of the club, the results on the pitch still mean much more than any of this, at least at the moment.
1. Relegation is not a solution to anything. Anything you can do in the Championship you can do in the PL, with more revenue.
2. There is no imminent threat of Admin, we are meeting our obligations as they come due (which could change if we are in the Championship) thanks to 777.
3. We should be close to funded for the remainder of the season until the next transfer window opens.
The bad news is that we're likely facing another points deduction from the "independent" panel. You'd hope it's applied in the next season, as applying two in the same season is onerous. But that's completely out of our control.
A few other notes:
1. The proof is in the pudding, but it's important to remember these are backward-looking statements. This reporting period ended 9 months ago. Much has changed.
2. We had a fair chunk of salaries lopped off after 6/30. There will be two more significant ones this year for 10-11 million. These players (Gomes and Alli) don't contribute much, if any, to the first team.
3. We have sellable assets.
4. That MSP can convert their loan to equity should it not be paid in April is great for the club. This removes one threat of Admin (though it's unlikely they would pull the Admin lever as their capital would be at risk).
If you're a fan of the club, the results on the pitch still mean much more than any of this, at least at the moment.
pfim
Player Valuation: £50m
It would be great if you have about 500 million or so. Thanks.
Jeez, between 10 and 30m? Got 10 points docked for 19m. Worrying to read that.
A good start would be not having a DoF giving out wages of 80k+ to players when we are a bottom half PL team
I have said it once and I'll say it again, not one player at Everton should be on or anywhere near 100k a week.
In fact, no one should be on over 60k a week.
We've been charged for the financial year just gone mate. So we are charged of being in breach on the below:
Year 1: Losses £139.9m in 2019-20 & £120.9m in 20-21
* These years are averaged due to Covid i.e. Add them both together and divide by 2 = a loss of 130.35. The club argued that we had crystallized losses of £82.1 mill due to Covid that were accepted by the PL. So the total accepted PSR loss for year is £48.25mill
Year 2: £44.7m - after PSR deductions - id say about 20 odd million PSR loss.
Year 3: £89.1m - again somewhere between 60-70 mill PSR loss.
I don't see how we aren't in breach for the second charge.
Going into next year, we could well breach and be charged again, we probably need to sell before June 30th. Although possible rule changes could also have an impact.
We will do nothing in the summer and try and sell everyone.
Its really bad.
Oh FFs the he stadium company accounts haven't been filed.
find-and-update.company-information.service.gov.uk
EVERTON STADIUM DEVELOPMENT LIMITED overview - Find and update company information - GOV.UK
EVERTON STADIUM DEVELOPMENT LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity
find-and-update.company-information.service.gov.uk
Kean transfer was in 22/23 accounts
Overdue? Another 10 points.Oh FFs the he stadium company accounts haven't been filed.
EVERTON STADIUM DEVELOPMENT LIMITED overview - Find and update company information - GOV.UK
EVERTON STADIUM DEVELOPMENT LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity
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