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Elong
The fire rises
Yeah I can agree with that, in that we shouldn't be taking additional loans to finance players (I don't think our credit rating will get us more loans though!).
What the club basically wants is a donator, not an investor, that will give 20mil a season to buy players with.
Don't they all want that mate. And there in lies the problem, we'd need someone who has an emotional attachment to Everton and want to see them do well, who's minted, or someone who sees some long term goal and wants to invest. The outlook is a bit bleak.
Elong
The fire rises
Dunno about you mate but I just looked down the back of the couch and found 20cents and a half eaten chip.
Munches*
Put a bid in lid.
padefc
Player Valuation: £15m
just had a quick look and to me is indicates a survival plan with no room for expansion we will have to sell to ease debt and theres no scope for player purchasing.
that should not be any new news there for any one tbh its what we already know the words paddle and creek come to mind
that should not be any new news there for any one tbh its what we already know the words paddle and creek come to mind
Robert Jarvis
Player Valuation: £35m
Essentially based on those fogures which relate to a year end 8 months ago we were just treading water. Without bellefield are debt would have gone up by 8 mill so another asset sold to pay off debt. Debt payable within the next few years is 23.8 mill and the balance of 21.1 after 5 years from last May. The overall debt has increased as has the turnover. The increase in turnover has been swallowed up by operating costs including wages.
Bottom line is that, there is no money to do up GP, to buy new players without selling some first and little scope to increase existing wages if demanded i.e. new contracts.
Must point out that this was to a year end 8 months ago and gives no detail as to the state the club is in from it's trading to the 8 months ended 31st January 2011.
Can see no evidence of administration being on the cards but equally that a takeover may be made in the near future.
The club would certainly need a very rich person to come in and takeover, clear the debts 44.9 mill, do up GP say 100+ mill, new players - impossible to give a figure and finally buy the shares, now what are they worth?????
Bottom line is that, there is no money to do up GP, to buy new players without selling some first and little scope to increase existing wages if demanded i.e. new contracts.
Must point out that this was to a year end 8 months ago and gives no detail as to the state the club is in from it's trading to the 8 months ended 31st January 2011.
Can see no evidence of administration being on the cards but equally that a takeover may be made in the near future.
The club would certainly need a very rich person to come in and takeover, clear the debts 44.9 mill, do up GP say 100+ mill, new players - impossible to give a figure and finally buy the shares, now what are they worth?????
Robert Jarvis
Player Valuation: £35m
I wish to add in a new post that although Matt Damon labels me as a sinde and hater, (I objected to assumptons made by him in my posts.) I will be amongst the first to apologise if in fact the club does have new owners before the start of next season which is a belief promulgated by him.
There is no chance of bill letting go mate we all know this inside.
kenada_blue
Welcome to Barcelonaton FC
Its all a bit meh.
Moyes will again will be pennyless for the summer. The club cant even afford to give him a sly couple of mill without worrying about whether or not that will be covered during the season ie a cash boost from somewhere.
All in all. We are at a stand still unable to be in a position to not sell players to bring ones in.
Dollar on felli goin?
Moyes will again will be pennyless for the summer. The club cant even afford to give him a sly couple of mill without worrying about whether or not that will be covered during the season ie a cash boost from somewhere.
All in all. We are at a stand still unable to be in a position to not sell players to bring ones in.
Dollar on felli goin?
Screech or rodders its how it is now mate.
Gary_Lineker.85/86x4 (stephenneedley@googlemail.co
Player Valuation: £8m
If Fellaini has to go to bring in 3 or 4 players then it's good business, no Loyalty left in footie and it's all about business , I am sick of all the Kenwright / Board bashers , There was folk on here saying we were on the verge of Administration , The truth is most of you bashers are just frustrated that we are not doing well on the pitch and instead of blaming Moyes or the players it's easier to attack the board cos it's the safer option..
If Moyes has nothing to spend in the summer , there are other options , players released , Bosmans etc..We have never been able to spend 20 million plus on one player and IMO it wouldn't do much good as we need 3 or 4 players , so as I said if Fellaini has to go to fund those player , then so be it..
It's not at all a bit "meh". It's a bit "HOLY SH**" and a bit "FFS". These accounts are not as bad as they could have been, but are still plenty bad. It is not yet a "crisis", but it's definitely a "situation" we're in.
My comment will be (far) more substantial once the actual audit is put on the website, because I need to see the amortisation and assets and liabilities numbers. The throwaway Echo/Post line "The £8m sale of the Bellefield training ground was used to pay off previous loans" is leaving me baffled - the sale could not have been completed prior to the approval of the planning permission and that happened in the current time period. If it has been booked in the 09/10 accounts it would alter the situation dramatically. It's far more likely that the sale has booked in the 10/11 accounts - this still means that we are not taking up the option to purchase and the lease payments kick in next year.
3 things I need to mention:
1) EFC is nowhere near administration. However, the current accounts make it even less likely that a rational investor/buyer would touch the club with a proverbial bargepole (even though, as atrottel mentioned, investors/buyers in football generally subscribe to the "waiting for the bigger fool" model). And without an investor/buyer, for all the moaning so far, it may turn out that 2002-2009 were the 7 fat years prior to the fallow years.
2) Unless he has relinquished control over player transfers and contract renegotiations, David Moyes is the last person I feel sorry for in this situation.
3) The hope that I and many others shared, that if/when the football bubble bursts (and 2013/2014 is looming large) Everton would be in a better position than most, is sputtering and unless there is a marked improvement in our fortunes on the pich by the end of this season, it will be dead.
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