Lessons from Lerner: Relevant to Everton

[hibbo'sclass]

Pipe down. Because you obviously can't read.

http://swissramble.blogspot.co.uk/2010/04/randy-lerners-money-talks-at-aston.html?m=1

Another reason for the enormous rise in operating expenses can be found in Note 29 on page 31 (the very last page) of the accounts, namely “management charges” of £7.7m that “were incurred from Reform Acquisitions LLC”, i.e. Randy Lerner. This is a strange one, as the accounts do not specify what these charges cover.

I read the accounts, not the precis.
Apology accepted

 

[SerenityNigh]

Mate, those fees were never drawn.

Here's a graphic of use of funds since Lerner bought Villa:

Lerner has spent more than £360 million in owning and funding the club over his time:

Lerner paid £66 million to acquire the club in 2006, and since he has put in over £300 million, initially a mix of loans and equity but almost all became equity (last accounts showed outstanding loans to him of only £10.4 million.)

Lerner's problem was that he never had competent management of the club - much like QPR he's been taken for a ride using his own money.

With complete certainty that will not happen to Everton under Moshiri, there's very little point in making the comparison to be honest.

Lerner would have benefitted from a competent DOF I think

 

[bizzaro]

I read the accounts, not the precis.
Apology accepted

You obviously didn't read them very well.

Management charges. In multiple years accounts.

Obviously escaped your 'expert' attention.

 

[SerenityNigh]

I think that's a fair point mate, doesn't always have to make these disparaging comments does he? Little bit out of order.

I will fight you. Not actually, but that's what I'm supposed to write, huh?

 

[bizzaro]

Mate, those fees were never drawn.

Here's a graphic of use of funds since Lerner bought Villa:

Lerner has spent more than £360 million in owning and funding the club over his time:

Lerner paid £66 million to acquire the club in 2006, and since he has put in over £300 million, initially a mix of loans and equity but almost all became equity (last accounts showed outstanding loans to him of only £10.4 million.)

Lerner's problem was that he never had competent management of the club - much like QPR he's been taken for a ride using his own money.

With complete certainty that will not happen to Everton under Moshiri, there's very little point in making the comparison to be honest.

The emboldened bit.

Having made substantial amounts of money in the area. Competent management is a relative term.

Not dealing in absolutes.

There is on the contrary absolutely a need to discuss or make comparison.

We need to - relatively - be competently managing EFC better than our competitors.

Both on the field and off.

In commercial revenues particularly.

At the moment we have a championship level (non premier league) commercial operation

 

[Bungle]

I will fight you. Not actually, but that's what I'm supposed to write, huh?

You shouldn't feel compelled to write anything that you don't want to mate

 

[hibbo'sclass]

You obviously didn't read them very well.

Management charges. In multiple years accounts.

Obviously escaped your 'expert' attention.

Management Fees - whatever makes you feel better - you see I don't care about Villa, but as the Esk says, they weren't drawn anyway so a red herring.

Do you cede the point about loans, interest (and write back of interest) and share capital?

The emboldened bit.

Having made substantial amounts of money in the area. Competent management is a relative term.

Not dealing in absolutes.

There is on the contrary absolutely a need to discuss or make comparison.

We need to - relatively - be competently managing EFC better than our competitors.

Both on the field and off.

In commercial revenues particularly.

At the moment we have a championship level (non premier league) commercial operation

So God knows how many posts to arrive at the conclusion that we need to be run efficiently and increase revenues from commercials - I notice no mention of profit, just revenues.
What do you include in commercials by the way?

 

[jtl60]

Lerner owned Villa. Mosh doesn't own Everton
The End.

 

[SerenityNigh]

You shouldn't feel compelled to write anything that you don't want to mate

I do it for the kids. And to look cool. But mostly for the kids.

 

[Brendan Janus]

I wonder if The Mosh owns The Goodison Supper Bar !!

 

[jaycee]

You shouldn't feel compelled to write anything that you don't want to mate

I love you Bungle and i felt compelled to write it

 

[Bungle]

I love you Bungle and i felt compelled to write it

 

[The Esk]

Incidentally that pie chart indicates not a single penny spent on 'infrastructure'

So what was the £41 million of capital expenditure?

 

[Foot Long Hot Dog]

So what was the £41 million of capital expenditure?

lol

 

[Catfish Blues]

So what was the £41 million of capital expenditure?

Part of the Capex is the redevelopment of Bodymoor Heath which cost ~13 million. Some of that money was spent before Lerner took charge, but he was responsible for expanding the scope of the work initiated by Ellis.

Personally I'm sure most would agree that a modernisation of a clubs training ground would fall under the heading of "infrastructure", but it is possible that your friend Mr Bizarro doesn't agree.