The Everton Board Thread 2014/15

Chang Elephant · May 31, 2015

This is probably why the BU never prospered, the consistent drug intake of our fanbase leads to club valuations of £400M, calls to rebuild with part stadium part train station, and the worst ones that believe Bill's doing a good job.

Bluesnapper · May 31, 2015

Eggs said:
....I don't pretend to be economically savi but I guess the value of the club is what somebody is prepared to pay for it.

With it being for sale for 16 years then there is something wrong with either the asking price/the state of the business/the buyer being deliberate put off by the seller.

Could be all three of those reasons.

Chang Elephant · May 31, 2015

the esk said:
Haha I'd prefer never to have to sell to be honest as the shares were once my Grand Dads but if and when there is a change of ownership then it is inevitable that all small shareholders will have to sell.

I like the word when, it reeks of optimism

The Esk · May 31, 2015

Bluesnapper said:
With it being for sale for 16 years then there is something wrong with either the asking price/the state of the business/the buyer being deliberate put off by the seller.

Could be all three of those reasons.

Everton as a business is eminently sellable, there's nothing in the accounts that makes it a complete no-no for a potential buyer.

It all comes down to price. With such significant capex required to develop the stadium/build new one and develop the team then the equity has a relatively low value.

If the sellers refuse to recognise that then the club will never be sold.

Moomin · May 31, 2015

400 million!!!!!

Wow, so the likes of Robert Earl would get just shy of 100 million. A man who has been to Goodison a few times and can't be bothered to goto AGM's.

Thank god Bill protects us from bad investors.

Bluesnapper · May 31, 2015

Astounding what some idiots believe is the value of this poorly run club.

Woolly Blue · May 31, 2015

the esk said:
I will check tomorrow but last time I asked Blankstone Sington (the brokers who trade Everton shares) the shares were trading at around £1400 per share.(December 2014)

That puts a current value of £49 million on the equity.

Even if a purchaser paid a 100% premium that only makes the equity worth £100 million. Not many companies are sold at 100% premium!

I know someone who bought a few earlier this year and £1400 sounds about right.

Talk of us being worth ~ £400 million is bonkers. No way would shares be changing hands at the current rate if that was anything but a pipe dream.

TheFinnFan · May 31, 2015

Where does this £400m come from?

The Esk · May 31, 2015

TheFinnFan said:
Where does this £400m come from?

@Adversus

If he/she truly believes that then he/she should buy as many Everton shares as they can afford!

Carlito · May 31, 2015

Moomin said:
400 million!!!!!

Wow, so the likes of Robert Earl would get just shy of 100 million. A man who has been to Goodison a few times and can't be bothered to goto AGM's.

Thank god Bill protects us from bad investors.

£93m profit for Bankruptcy Bob.

All he deserves really.

Zatara · May 31, 2015

Even looking at basic calculations off revenue we'd be seeing the club valued at $300mil - "the debt"...factor in the increased "expectations" and its far higher.

The only tricky part is the asset calculations but i guess that football clubs dont follow the standard company valuations if $200mil is the value anyway.

the esk said:
Because there is no fundamental basis to value the equity of the club so highly.

sageyefc · May 31, 2015

Saw this last night, I know we're useless at sorting deals but FFS hull for a year less get double the money from umbro

TheFinnFan · May 31, 2015

sageyefc said:
View attachment 10039

Saw this last night, I know we're useless at sorting deals but FFS hull for a year less get double the money from umbro

Notice that little * over £10m mate

Woolly Blue · May 31, 2015

Adversus said:
4x multiple of revenue. The team is probably worth close to 200m by itself and we don't run at a loss. Yea I don't think 400 is too far off.

You are having a laugh. Kenwright is never going to sell for 200m.

So, lets run with £400 million for a moment, ignoring the cost of a new stadium.

If you had £400 million burning a hole in your back pocket, what sort of annualised return would you be hoping to get ? High single digits probably, so you're either hoping to grow the business and sell it at a profit later, or you want to take some money out of the club, probably as a dividend ?

On a turnover of ~100 million you're not going to be able to turn a decent enough profit to pay yourself much of a divi so you'd be relying on being able to find someone else to take it over at some time in the future to get a decent return. That's one hell of a risky investment for a fairly low return

To the right buyer, Everton's probably worth about 80 to 10 million, maybe 120 million tops. Anything above that doesn't make any financial sense and would only be attractive to someone buying for emotional reasons.