I think, by looking at the Google cache, that L'Équipe put it behind a paywall at some point. If one were to do the Google search I mentioned in the previous post, one could find the same article on other sites, such as FranceFootball.fr.
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you've pretty much nailed it aka Other Operating Expenses
hallamblue
Player Valuation: £35m
The only way we will ever get out of this is if someone is daft enough to pay these people what they want for our club.
The interesting thing is, if City are sellable simply due to their rivalry with United (and the new stadium, arguably), then Everton should be one of the biggest prospects in the PL - rivalry to a club with a huge international fanbase that everyone would love to see beat, rich history and probably the most genuine ethos in british football.
Nevermind the accuracy of these descriptions: The fact the club has not been sold is undoubtedly down to the fact that someone has actively been working against it.
Nevermind the accuracy of these descriptions: The fact the club has not been sold is undoubtedly down to the fact that someone has actively been working against it.
hallamblue
Player Valuation: £35m
Well if you keep all your shares and get £2m a year whilst the value of the shares keeps appreciating it's going to take a big offer to make you take it.
The Esk
Player Valuation: £70m
Worth pointing out that there has been (to my knowledge) no evidence placed in the public domain which proves the beneficial ownership of the lenders.
Secondly Elstone placed on the public record that no directors of the club were connected to the lenders (2015 AGM)
Thirdly, if the claims made were ever proven, Everton, its directors and auditors would be guilty of a number of criminal and civil offences and be in breach of many Premier League rules.
Given the ownership of the lenders is known to the Premier League where does that place the allegations?
Secondly Elstone placed on the public record that no directors of the club were connected to the lenders (2015 AGM)
Thirdly, if the claims made were ever proven, Everton, its directors and auditors would be guilty of a number of criminal and civil offences and be in breach of many Premier League rules.
Given the ownership of the lenders is known to the Premier League where does that place the allegations?
hallamblue
Player Valuation: £35m
You may well be right, but Phillip Green is known for his ability to use all the available tools at his disposal to maximise his income, if you know what I mean. Hope that was vague enough.
allezlesbleus
Player Valuation: £35m
Coup de chapeau mate for the technical advice.
Very interesting....and not in a good way. So far as I can see it is a faithful reproduction of several of the points made by Watched toffee and others to the extent that the short term loans clubs including Everton, Fulham, West Ham keep on renewing against a variety of future incomes (in our specific case future TV income) are relatively expensive and work to the greater advantage of the lender than the borrower. The lender gets generally generous rates back and the loans keep getting renewed. The lack of transparency over the ownership of Vibrac and common address of a Robert Earl company fuels suspicion that he is benefitting from the loan.
Furthermore the article reports that when one of these lenders JG was short of funds to do the lending they went to Isle of Man offshore sources to get the funds to make the loan to clubs like us, including us. One of the Isle of Man companies is owned by Daniel Levy. A Swiss company used in the same way is linked to Joe Lewis shareholder at Spurs. So owners of Spurs are instrumental in providing loans that provide funds to make loans to Everton etc which are not good value for Everton but are good value for the lender. Better value than selling the club IF that lender is also a part owner. Says this supporters view is that potential sales of the club have been knocked back because not in interests of provider of these loans to sell.
Mentions also some of those questions lost in argument between elstone and anderson.
Not a word for word translation. Paraphrased and summarised.
allezlesbleus
Player Valuation: £35m
I hope you are right. The consequences for the club of this being true and coming to light might not be too positive.
Here is a translation for anyone who can't be bothered doing the Google work.
When an Everton supporter investigated the obscure loans of English clubs
Offshore companies, tax havens, a circle of billionaires... An Everton supporter turned anonymous investigator tracked down loans that would benefit his club and others - agreed with two shadowy companies.
He was present at the Everton shareholders' General Meeting last Monday, if only discreetly. The Toffees fan that is announcing disturbing revelations about money in English football remains anonymous. Under his mask of anonymity and handle @WatchedToffee, the whistleblower has reported on Twitter and on his blog, "Everton Viral", information concerning several offshore companies based in tax havens.
At this stage of its investigations, @WatchedToffee has reported a dozen loans taken out since 2011 by several Premier League and Championship clubs, from two companies exhibiting very opaque characteristics. This is a system that meets the needs of the already deep pockets of a billionaire circle of regulars at a hotel in Barbados ...
Relayed in France by Dominique Rousseau, former L'Equipe journalist and author of a blog on the issue of business in football, the facts reported by the Everton fan depict a financial circle which has proven both safe and very profitable for Vibrac Corporation and JG Funding Limited, two companies which he has extensively investigated.
Zero risk loans
While banks have withdrawn from English football since the 2007 financial crisis, a handful of medium-sized clubs have borrowed tens of millions of pounds from these mysterious entities. The clubs have been offered as valuable securities (Fulham), "Financial parachutes" in the event of relegation (Reading), for ticket sales (Southampton) or for the TV rights of future seasons (Everton, West Ham). Loans are granted at rates of up to 10%, whilst the quality of the collateral (British TV rights!) leaves no doubt about the return. Overall it represents an excellent return on investment with zero risk. But for whom?
@WatchedToffee must hold his readers' hands in order to not lose them in the complex web of intertwined offshore companies he has managed to uncover in recent months. His first discovery is perhaps a coincidence, more likely a sign of a possible conflict of interest. Following the trail of the Vibrac investment fund, he discovered that this company indeed belongs to an unknown lodge owner registered at the same address (in the British Virgin Islands) as one of the main companies of Everton shareholder Robert Earl, founder of Hard Rock Cafe and Planet Hollywood.
The Famous Five in Barbados
JG Funding, another lending company, is no less intriguing. The investigator ascertains that this company did not have the means to pay an advance to Everton this summer (£20 million) and West Ham and had to borrow itself from two companies domiciled on the Isle of Man - a tax haven in its own right. Until last June, its chairman was Daniel Levy, owner of Tottenham [sic]. It seems that the legal structure of the company was changed at the last minute to avoid it financing two competitors.
@WatchedToffee has also uncovered links between the Swiss company responsible for verifying loan agreements and two companies controlled by some big names in British capitalism, including Joe Lewis, the famous speculator and principal shareholder of Tottenham. This wealthy circle is called the "Sandy Lane Set", the name taken from the luxurious hotel in Barbados, in the Caribbean, where they spend their time. For @WatchedToffee, these five billionaires - amongst other great fortunes identified in this circle of loans - are the main beneficiaries of a system with which the Premier League does not have a problem.
Sell to break the circle?
On Monday, at the Everton GA all questions posed by @WatchedToffee and his numerous followers were overshadowed by a disagreement between the club management and the Mayor of Liverpool over the financing of a proposed new stadium near Goodison Park. Incidentally, fans are wondering how this stadium can even be proposed while Everton continues to borrow money, its balance transfers are negative and it remains one of the few elite clubs that has yet to update its legacy stadium facilities. According to the whistleblower, the last tender offers were rejected to protect the interests of the group of lenders. For him, the best solution would however be to sell the club, which currently remains one of six Premier League clubs with English owners. He believes that a new candidate, a South American, is ready to come forward.
When an Everton supporter investigated the obscure loans of English clubs
Offshore companies, tax havens, a circle of billionaires... An Everton supporter turned anonymous investigator tracked down loans that would benefit his club and others - agreed with two shadowy companies.
He was present at the Everton shareholders' General Meeting last Monday, if only discreetly. The Toffees fan that is announcing disturbing revelations about money in English football remains anonymous. Under his mask of anonymity and handle @WatchedToffee, the whistleblower has reported on Twitter and on his blog, "Everton Viral", information concerning several offshore companies based in tax havens.
At this stage of its investigations, @WatchedToffee has reported a dozen loans taken out since 2011 by several Premier League and Championship clubs, from two companies exhibiting very opaque characteristics. This is a system that meets the needs of the already deep pockets of a billionaire circle of regulars at a hotel in Barbados ...
Relayed in France by Dominique Rousseau, former L'Equipe journalist and author of a blog on the issue of business in football, the facts reported by the Everton fan depict a financial circle which has proven both safe and very profitable for Vibrac Corporation and JG Funding Limited, two companies which he has extensively investigated.
Zero risk loans
While banks have withdrawn from English football since the 2007 financial crisis, a handful of medium-sized clubs have borrowed tens of millions of pounds from these mysterious entities. The clubs have been offered as valuable securities (Fulham), "Financial parachutes" in the event of relegation (Reading), for ticket sales (Southampton) or for the TV rights of future seasons (Everton, West Ham). Loans are granted at rates of up to 10%, whilst the quality of the collateral (British TV rights!) leaves no doubt about the return. Overall it represents an excellent return on investment with zero risk. But for whom?
@WatchedToffee must hold his readers' hands in order to not lose them in the complex web of intertwined offshore companies he has managed to uncover in recent months. His first discovery is perhaps a coincidence, more likely a sign of a possible conflict of interest. Following the trail of the Vibrac investment fund, he discovered that this company indeed belongs to an unknown lodge owner registered at the same address (in the British Virgin Islands) as one of the main companies of Everton shareholder Robert Earl, founder of Hard Rock Cafe and Planet Hollywood.
The Famous Five in Barbados
JG Funding, another lending company, is no less intriguing. The investigator ascertains that this company did not have the means to pay an advance to Everton this summer (£20 million) and West Ham and had to borrow itself from two companies domiciled on the Isle of Man - a tax haven in its own right. Until last June, its chairman was Daniel Levy, owner of Tottenham [sic]. It seems that the legal structure of the company was changed at the last minute to avoid it financing two competitors.
@WatchedToffee has also uncovered links between the Swiss company responsible for verifying loan agreements and two companies controlled by some big names in British capitalism, including Joe Lewis, the famous speculator and principal shareholder of Tottenham. This wealthy circle is called the "Sandy Lane Set", the name taken from the luxurious hotel in Barbados, in the Caribbean, where they spend their time. For @WatchedToffee, these five billionaires - amongst other great fortunes identified in this circle of loans - are the main beneficiaries of a system with which the Premier League does not have a problem.
Sell to break the circle?
On Monday, at the Everton GA all questions posed by @WatchedToffee and his numerous followers were overshadowed by a disagreement between the club management and the Mayor of Liverpool over the financing of a proposed new stadium near Goodison Park. Incidentally, fans are wondering how this stadium can even be proposed while Everton continues to borrow money, its balance transfers are negative and it remains one of the few elite clubs that has yet to update its legacy stadium facilities. According to the whistleblower, the last tender offers were rejected to protect the interests of the group of lenders. For him, the best solution would however be to sell the club, which currently remains one of six Premier League clubs with English owners. He believes that a new candidate, a South American, is ready to come forward.
zirc
Player Valuation: £40m
In libel territory most likely. I think the board are horribly incompetent, but they aren't criminals.
As a matter of interest, how is City 'worth' 2 Billion.
The Esk
Player Valuation: £70m
It's not City that are valued at £2bh but City's parent company who also own New York City, Melbourne City and a 20% stake in Yokohama.
The valuation is similar to that of Manchester United. Although City's revenues are lower than United currently it's arguable that with this deal they have a potential for higher revenues within a few years.
I think it's a great piece of business for both parties (City Football Group and CMC)
I prefer to use the old stand by of a thing is worth exactly what somebody has to pay for it should there be a willing seller and buyer at the price...which is, among other reasons why we haven't been sold, they ask the price and then say in the manner of 'The Castle'... how much? tell him he's 'kin dreaming.
There are 35000 shares in EFC. Agent Johnson issued a 6 for 1 @GBP500 in 1996 which raised 15M ( which Walter basically wasted )
Johnson initially owning 20,805
By early 1998 he had upped his stake he owned 23,725 - 68%
In Dec 1999 True Blue (Holdings) Ltd; Kenwright, Gregg, Woods, Abercromby, acquired this 68% @ around GBP800.
In (early??) 2004; After breakdown of the Kings Dock / Reverse mortgage scheme - backed by Gregg. True Blue (Holdings)Ltd were dissolved at the request of Gregg.
This I think is where Earl and Green came in to 'help' Kenwright buy out Gregg
( Throw in the Rooney thing for added spice )
This results in the shareholding being thus; Approx.
Kenwright 26% / 9004 shares
Earl under his BVI company BCR Sports 23% / 8146 shares
Woods 19% / 6622 shares
Lord Grantchester 8.5% / 2772 shares
Abercromby, former director True Blue (Holdings) Ltd 5.5% / 1935 shares
The other remaining 18% or so are in dribs and drabs
The Estate of the late Sir Phillip Carter had 2% of this 18%
In 2011 the share price was thought to be @ GBP1300
I would estimate the current price @ GBP2000
That gives us a share value of 70M...we know(?) we have no other off field assets...we know(?) we have debts of 'pick a number'
Not long ago a sale price of 150M was mooted
God knows what they think they can con, sorry, ask now
I won't even go near how they think they can justify the 300M that @davek postulated
So there you have it as barry norman used to say.
If I could find the time ( and possibly the inclination ) I would go through the Toffeeweb Archives where this and more was discussed in depth during the 1st International break(?)
If I remember(?) the gist from those usually ITK in matters financial etc. seemed to be that these 'carryings on' (sorry to use technical terms) were in a theoretical sense not actually Illegal, Allegedly, Mr Green and others being past masters at this sort of capers.
All in all it doesn't make for good reading.
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